I 
117TH CONGRESS 
2D SESSION 
H. R. 8371 
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 
JULY 14, 2022 
Mr. PALAZZO (for himself and Mr. BABIN) 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 de-
termined 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 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 2022’’. 
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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 provided in section 9512(b) of the In-
ternal 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) OTHER TERMS.—The bonds authorized by 
this subsection shall be in such form and denomina-
tions, and shall be subject to such terms and condi-
tions of issue, conversion, redemption, maturation, 
payment, and rate of interest as the Secretary may 
prescribe, except that no interest shall be payable 
with respect to such a bond before the date that is 
10 years after the date of the enactment of this sub-
section. 
(4) SUNSET.—No bonds may be issued under 
subsection (a) later than 30 years after the date of 
the enactment of this Act. 
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SEC. 3. ACCEPTING GIFTS. 
Section 3113 of title 31, United States Code, is 
amended by adding at the end the following new sub-
section: 
‘‘(f) The Secretary of the Treasury may accept for 
the Government a gift of money made only on the condi-
tion that it be transferred to the Border Bonds Trust 
Fund as provided in section 9512(b) of the Internal Rev-
enue Code of 1986.’’. 
SEC. 4. 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). 
‘‘(b) TRANSFERS TO TRUST FUND.—There are here-
by appropriated to the Trust Fund amounts equivalent 
to— 
‘‘(1) proceeds from the issuance of Border 
Bonds under section 2 of the Border Bonds for 
America Act of 2022, and 
‘‘(2) gifts accepted under section 3113 of title 
31, United States Code. 
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‘‘(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 
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