BUILD Act

Bill: 117-s-881
Sponsor: full_name: Sen. Cornyn, John [R-TX]
Introduced: 2021-03-22
Policy area: Taxation
Subjects: Income tax exclusion

Motor carriers

Railroads

Roads and highways

Securities

State and local finance

Transportation programs funding
Latest action: action_date: 2021-03-22
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2021-03-22
action_desc: Introduced in Senate
text: <p><b>Building United States Infrastructure and Leveraging Development Act or the BUILD Act</b></p> <p>This bill increases from $15 billion to $30 billion the national limitation on the amount of tax-exempt highway or surface freight transfer facility bonds.</p>

tv_txt: II 117th CONGRESS 1st Session S. 881 IN THE SENATE OF THE UNITED STATES March 22, 2021 Mr. Cornyn introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to increase the national limitation amount for qualified highway or surface freight transfer facility bonds.

1. Short title This Act may be cited as the Building United States Infrastructure and Leveraging Development Act or the BUILD Act . 2. Increase national limitation amount for qualified highway or surface freight transfer facility bonds (a) In general Section 142(m)(2)(A) of the Internal Revenue Code of 1986 is amended by striking $15,000,000,000 and inserting $30,000,000,000 . (b) Effective date The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act.