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H.R. 413

Partnership to Build America Act of 2015

Partnership to Build America Act of 2015

Establishes the American Infrastructure Fund (AIF) as a wholly-owned government corporation to provide bond guarantees and make loans to state and local governments, non-profit infrastructure providers, private parties, and public-private partnerships for state or local government sponsored transportation, energy, water, communications, or educational facility infrastructure projects (Qualified Infrastructure Projects [QIPs]). Authorizes AIF also to make equity investments in QIPs.

Directs the Secretary of the Treasury, acting through the AIF, to issue American Infrastructure Bonds with an aggregate face value of $50 billion. Requires proceeds from the sale of the bonds to be deposited into the AIF.

Amends the Internal Revenue Code to allow U.S. corporations to exclude from gross income qualified cash dividend amounts received during a taxable year from a foreign-controlled corporation equal to the face value of qualified infrastructure bonds the corporation has purchased.

Prohibits allowance of a foreign tax credit to the excluded portion of any dividend received by a U.S. corporation. Prohibits also the allowance of a deduction for expenses related to that excludable portion.

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Rep. Delaney, John K. [D-MD-6](D-MD)Sponsor
41 cosponsors22 D19 R
41cosponsors2committees11actions12subjects
  1. Committee

    Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

    Railroads, Pipelines, and Hazardous Materials Subcommittee
  2. Committee

    Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.

    Economic Development, Public Buildings, and Emergency Management Subcommittee
  3. Committee

    Referred to the Subcommittee on Coast Guard and Maritime Transportation.

    Coast Guard and Maritime Transportation Subcommittee
  4. Committee

    Referred to the Subcommittee on Aviation.

    Aviation Subcommittee
  5. Committee

    Referred to the Subcommittee on Water Resources and Environment.

    Water Resources and Environment Subcommittee
  6. Committee

    Referred to the Subcommittee on Highways and Transit.

    Highways and Transit Subcommittee
  7. IntroReferralH11100

    Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, 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.

    Ways and Means Committee
  8. IntroReferralH11100-A

    Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, 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.

  9. IntroReferralH11100

    Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, 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.

    Transportation and Infrastructure Committee
  10. IntroReferralIntro-H

    Introduced in House

  11. IntroReferral1000

    Introduced in House

Partnership to Build America Act of 2015 — Informed