WASHINGTON -- At least one kind of municipal debt -- 501(c)(3) bonds -- is sure to benefit if, as expected, Sen. Daniel P. Moynihan becomes chairman of the Senate Finance Committee in the 103d Congress, Capitol Hill observers said yesterday.

But it is not clear if the New York Democrat's support for bonds used for private, nonprofit organizations means he will support the easing of curbs on other kinds of tax-exempt bonds.

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