Partnership to Build America Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 22, 2017)
Partnership to Build America Act of 2017
This bill 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]). The AIF may also to make equity investments in QIPs.
The Department of the Treasury, acting through the AIF, shall issue American Infrastructure Bonds with an aggregate face value of $50 billion. The proceeds from the sale of the bonds shall be deposited into the AIF.
The bill 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.
The bill prohibits allowance of:
- a foreign tax credit for the excluded portion of any dividend received by a U.S. corporation, and
- a deduction for expenses directly allocable to that excludable portion.
What just happenedMar 23, 2017
Referred to the Subcommittee on Water Resources and Environment.
Who’s behind it
- Introduced in HouseMar 22, 2017
- Mar 23, 2017Committee
Referred to the Subcommittee on Water Resources and Environment.
Water Resources and Environment Subcommittee - Mar 23, 2017Committee
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Railroads, Pipelines, and Hazardous Materials Subcommittee - Mar 23, 2017Committee
Referred to the Subcommittee on Highways and Transit.
Highways and Transit Subcommittee - Mar 23, 2017Committee
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Economic Development, Public Buildings, and Emergency Management Subcommittee - Mar 23, 2017Committee
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Coast Guard and Maritime Transportation Subcommittee - Mar 23, 2017Committee
Referred to the Subcommittee on Aviation.
Aviation Subcommittee - Mar 22, 2017IntroReferralH11100
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 - Mar 22, 2017IntroReferralH11100-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.
- Mar 22, 2017IntroReferralH11100
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 - Mar 22, 2017IntroReferralIntro-H
Introduced in House
- Mar 22, 2017IntroReferral1000
Introduced in House