I 
115TH CONGRESS 
2D SESSION 
H. R. 7325 
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 
DECEMBER 17, 2018 
Mr. PALAZZO introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on Home-
land Security, for a period to be subsequently determined by the Speaker, 
in each case for consideration of such provisions as fall within the juris-
diction of the committee concerned 
A BILL 
To provide for the issuance of revenue bonds to fund con-
struction of a physical border barrier and related tech-
nology, roads, and lighting along the United States bor-
der with Mexico. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Border Bonds for 
America Act of 2018’’. 
VerDate Sep 11 2014 
23:40 Dec 19, 2018
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
kjohnson on DSK79L0C42 with BILLS
SEC. 2. BORDER BONDS. 
(a) ISSUANCE.—The Secretary of the Treasury shall, 
pursuant to subchapter I of chapter 31 of title 31, United 
States Code, issue bonds, to be known as ‘‘Border Bonds’’. 
(b) TRANSFER OF REVENUE.—Proceeds from the 
issuance of Border Bonds shall be transferred to the Bor-
der Trust Fund (as defined in section 9512 of the Internal 
Revenue Code of 1986). 
(c) TERMS AND CONDITIONS.— 
(1) TERM.—A bond issued under subsection (a) 
shall have a term of 30 years. 
(2) FACE
AMOUNT
LIMITATION.—The face 
amount of bonds issued under subsection (a) in any 
fiscal year shall not exceed $5,000,000,000. 
(3) SUNSET.—No bonds may be issued under 
subsection (a) later than 30 years after the date of 
the enactment of this Act. 
SEC. 3. BORDER BONDS TRUST FUND. 
Chapter 98 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new section: 
‘‘SEC. 9512. BORDER BONDS TRUST FUND. 
‘‘(a) CREATION OF TRUST FUND.—There is estab-
lished in the Treasury of the United States a trust fund 
to be known as the ‘Border Bonds Trust Fund’, consisting 
of such amounts as may be apportioned or credited to such 
Trust Fund as provided in this section or section 9602(b). 
VerDate Sep 11 2014 
23:40 Dec 19, 2018
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
kjohnson on DSK79L0C42 with BILLS
‘‘(b) TRANSFERS TO TRUST FUND.—There are here-
by appropriated to the Trust Fund amounts equivalent to 
revenue from the issuance of Border Bonds under section 
2 of the Border Bonds for America Act of 2018. 
‘‘(c) EXPENDITURES FROM TRUST FUND.—Amounts 
in the Trust Fund shall be available, without further ap-
propriation, to construct reinforced fencing and provide 
for the installation of additional physical barriers, roads, 
lighting, cameras, and sensors to gain operational control 
of the southwest border under section 102 of the Illegal 
Immigration Reform and Immigrant Responsibility Act of 
1996 (8 U.S.C. 1103 note).’’. 
Æ 
VerDate Sep 11 2014 
23:40 Dec 19, 2018
Jkt 089200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H7325.IH
H7325
kjohnson on DSK79L0C42 with BILLS