S. 326 · 115th Congress
Public Buildings Renewal Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HellerSponsor12 cosponsors · 3 D, 9 R
D
Bennet
BC
R
Cassidy
CG
R
Gardner
BN
D
Nelson
TY
R
Young
DP
R
Perdue
BC
D
Cardin
TC
R
Cotton
MR
R
Rounds
LG
R
Graham
JM
R
Moran
TS
R
Scott5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to permit the tax-exempt financing of certain government-owned buildings by expanding the definition of "exempt facility bond" to include bonds used for qualified government buildings.
What it does: CRS summary · Introduced in Senate · Feb 7, 2017
Public Buildings Renewal Act of 2017
This bill amends the Internal Revenue Code to permit the tax-exempt financing of certain government-owned buildings by expanding the definition of "exempt facility bond" to include bonds used for qualified government buildings.
A qualified government building is a government-owned building or facility that consists of one or more of the following:
- an elementary or secondary school;
- a facility of a state college or university used for educational purposes;
- a public library;
- a court;
- a hospital, health care, laboratory, or research facility;
- a public safety facility; or
- an office for government employees.
The bill excludes buildings or facilities that include specified recreational equipment or are used for the primary purpose of providing retail food and beverage services, recreation, or entertainment.
The bill establishes: (1) a $5 billion limit on the amount of tax-exempt financing which may be provided for government buildings, and (2) procedures for allocating and applying for the financing.
The bill exempts the bonds for government buildings from the volume cap on private activity bonds.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Public Buildings Renewal Act of 2017
Latest action (Feb 7, 2017): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 7, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.