REPORTING OF INTEREST ON TAX-EXEMPT BONDS.

SEC. 502. REPORTING OF INTEREST ON TAX-EXEMPT BONDS. (a) In General.—Section 6049(b)(2) (relating to exceptions) is amended by striking subparagraph (B) and by redesignating subparagraphs (C) and (D) as subparagraphs (B) and (C), respectively. (b) Conforming Amendment.—Section 6049(b)(2)(C), as redesignated by subsection (a), is amended by striking “subparagraph (C)” and inserting “subparagraph (B)”. (c) Effective Date.—The amendments made by this section shall apply to interest paid after December 31, 2005.