S. 428 · 109th Congress
Build America Bonds Act of 2005
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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TalentSponsor10 cosponsors · 4 D, 6 R
R
Allen
SC
R
Collins
JC
D
Corzine
NC
R
Coleman
MD
D
Dayton
ED
R
Dole
LG
R
Graham
DV
R
Vitter
RW
D
Wyden
CD
D
Dodd9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Build America Bonds Act of 2005 - Amends the Internal Revenue Code to allow an income tax credit to a taxpayer holding a Build America bond on one of its credit allowance dates.
What it does: CRS summary · Introduced in Senate · Feb 17, 2005
Build America Bonds Act of 2005 - Amends the Internal Revenue Code to allow an income tax credit to a taxpayer holding a Build America bond on one of its credit allowance dates.
Defines a Build America bond as any bond issued by the Transportation Finance Corporation as part of an issue if the net spendable proceeds from the sale of such issue are to be used for expenditures incurred for any qualified project, or for deposit in the Build America Trust Account for repayment of Build America bonds at maturity.
Defines: (1) qualified project as any qualified highway project and qualified public transportation project proposed by one or more States and approved by the Transportation Finance Corporation; and (2) qualified highway project as any project of regional or national significance, freight intermodal connector project, multistate corridor program, and border planning and capacity improvement program.
Establishes the nonprofit Transportation Finance Corporation to: (1) issue Build America bonds for the financing of qualified projects; (2) establish and operate the Build America Trust Account; (3) leverage resources and stimulate public and private investment in transportation infrastructure; and (4) perform any other function the sole purpose of which is to carry out the financing of qualified projects through Build America bonds.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Build America Bonds Act of 2005
Latest action (Mar 16, 2005): Star Print ordered on the bill.
Policy area: Taxation · Origin: Senate · Introduced: Feb 17, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.