S. 1957 · 113th Congress
Partnership to Build America Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BennetSponsor14 cosponsors · 6 D, 7 R, 1 I
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Ayotte
RB
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Blunt
MB
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Begich
DC
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Coats
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Graham
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Hoeven
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Kirk
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King
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Landrieu
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Warner
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McCaskill
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Wicker
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Coons
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Blumenthal10 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Partnership to Build America Act of 2014 - 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,…
What it does: CRS summary · Introduced in Senate · Jan 16, 2014
Partnership to Build America Act of 2014 - 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Partnership to Build America Act of 2014
Latest action (Jan 16, 2014): Read twice and referred to the Committee on Finance.
Policy area: Transportation and Public Works · Origin: Senate · Introduced: Jan 16, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.