HBCU Investment Expansion Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Feb 15, 2017)
HBCU Investment Expansion Act
This bill amends the Securities Act of 1933 to exempt qualified 501(c)(3) bonds issued after the enactment of this bill on behalf of a historically black college or university from state and local taxes.
The bill also amends the Internal Revenue Code to allow a tax credit for jurisdictions that forgo taxes with respect to the interest payments under such a bond. The credit is equal to the total amount of interest paid on such a bond during the taxable year. The Department of the Treasury must pay the credit to the qualifying jurisdiction as soon as practicable after the recipient of the interest payments files a tax return with the jurisdiction.
What just happenedFeb 15, 2017
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.
Who’s behind it
- Introduced in HouseFeb 15, 2017
- Feb 15, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.
Financial Services Committee - Feb 15, 2017IntroReferralH11100-A
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.
- Feb 15, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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 - Feb 15, 2017IntroReferralIntro-H
Introduced in House
- Feb 15, 2017IntroReferral1000
Introduced in House