Title: Border Bonds for America Act of 2018
Policy area: Immigration

Summary:
Border Bonds for America Act of 2018
This bill directs the Department of the Treasury to issue up to $5 billion in bonds in a fiscal year, with proceeds going into a trust fund for the construction of reinforced fencing, physical barriers and related infrastructure for the U.S. southwest border with Mexico.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7325 Introduced in House (IH)]

<DOC>






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 
   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.

    Be it enacted by the Senate and House of Representatives 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''.

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 Border 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 established 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 hereby 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 appropriation, 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).''.
                                 <all>