I 

116TH CONGRESS 

1ST SESSION H. R. 546 

To provide for the issuance of revenue bonds to fund construction of a 

physical border barrier and related technology, roads, and lighting along 

the United States border with Mexico. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 15, 2019 

Mr. PALAZZO (for himself and Mr. HARRIS) introduced the following bill; 

which was referred to the Committee on Ways and Means, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such 

provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To provide for the issuance of revenue bonds to fund construction of a physical border barrier and related technology, roads, and lighting along the United States border with Mexico. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Border Bonds for 

5 America Act of 2019’’. 


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1 SEC. 2. BORDER BONDS. 

2 (a) ISSUANCE.—The Secretary of the Treasury shall, 

3 pursuant to subchapter I of chapter 31 of title 31, United 

4 States Code, issue bonds, to be known as ‘‘Border Bonds’’. 

5 (b) TRANSFER OF REVENUE.—Proceeds from the 

6 issuance of Border Bonds shall be transferred to the Bor7 der Trust Fund as provided in section 9512(b) of the In8 ternal Revenue Code of 1986. 

9 (c) TERMS AND CONDITIONS.— 

10 (1) TERM.—A bond issued under subsection (a) 

11 shall have a term of 30 years. 

12 (2) FACE AMOUNT LIMITATION.—The face 

13 amount of bonds issued under subsection (a) in any 

14 fiscal year shall not exceed $5,000,000,000. 

15 (3) OTHER TERMS.—The bonds authorized by 

16 this subsection shall be in such form and denomina17 tions, and shall be subject to such terms and condi18 tions of issue, conversion, redemption, maturation, 

19 payment, and rate of interest as the Secretary may 

20 prescribe, except that no interest shall be payable 

21 with respect to such a bond before the date that is 

22 10 years after the date of the enactment of this sub23 section. 

24 (4) SUNSET.—No bonds may be issued under 

25 subsection (a) later than 30 years after the date of 

26 the enactment of this Act. 


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•HR 546 IH

1 SEC. 3. ACCEPTING GIFTS. 

2 Section 3113 of title 31, United States Code, is 

3 amended by adding at the end the following new sub4 section: 

5 ‘‘(f) The Secretary of the Treasury may accept for 

6 the Government a gift of money made only on the condi7 tion that it be transferred to the Border Bonds Trust 

8 Fund as provided in section 9512(b) of the Internal Rev9 enue Code of 1986.’’. 

10 SEC. 4. BORDER BONDS TRUST FUND. 

11 Chapter 98 of the Internal Revenue Code of 1986 is 

12 amended by adding at the end the following new section: 

13 ‘‘SEC. 9512. BORDER BONDS TRUST FUND. 

14 ‘‘(a) CREATION OF TRUST FUND.—There is estab15 lished in the Treasury of the United States a trust fund 

16 to be known as the ‘Border Bonds Trust Fund’, consisting 

17 of such amounts as may be apportioned or credited to such 

18 Trust Fund as provided in this section or section 9602(b). 

19 ‘‘(b) TRANSFERS TO TRUST FUND.—There are here20 by appropriated to the Trust Fund amounts equivalent 

21 to— 

22 ‘‘(1) proceeds from the issuance of Border 

23 Bonds under section 2 of the Border Bonds for 

24 America Act of 2019, and 

25 ‘‘(2) gifts accepted under section 3113 of title 

26 31, United States Code. 


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1 ‘‘(c) EXPENDITURES FROM TRUST FUND.—Amounts 

2 in the Trust Fund shall be available, without further ap3 propriation, to construct reinforced fencing and provide 

4 for the installation of additional physical barriers, roads, 

5 lighting, cameras, and sensors to gain operational control 

6 of the southwest border under section 102 of the Illegal 

7 Immigration Reform and Immigrant Responsibility Act of 

8 1996 (8 U.S.C. 1103 note).’’. 

Æ 


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