H.R. 2718 · 116th Congress
P3 Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KilmerSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill allows state and local governments to issue green infrastructure bonds as tax-exempt private activity bonds. The bonds are not subject to the state volume caps that apply to certain tax-exempt private activity bonds.
What it does: CRS summary · Introduced in House · May 14, 2019
Preventing Pollution through Partnerships Act or the P3 Act
This bill allows state and local governments to issue green infrastructure bonds as tax-exempt private activity bonds. The bonds are not subject to the state volume caps that apply to certain tax-exempt private activity bonds.
A green infrastructure bond must be issued as part of an issuance that requires 95% or more of the net proceeds to be used to develop, carry out, or certify approved green infrastructure projects. The approved projects are to construct, rehabilitate, maintain, or repair green infrastructure that has been certified by the state in which the project is located as effectively addressing nonpoint source pollution.
"Green infrastructure" is infrastructure that preserves, enhances, or mimics natural infiltration, evapotranspiration, or capture of storm water.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: P3 Act
Also known as: Preventing Pollution through Partnerships Act
Latest action (May 14, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 14, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.