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S 1109 108th Congress Senate

Build America Bonds Act of 2003

Official title: A bill to provide $50,000,000,000 in new transportation infrastructure funding through Federal bonding to empower States and local governments to complete sign… Show full official titleShow less

Official title: A bill to provide $50,000,000,000 in new transportation infrastructure funding through Federal bonding to empower States and local governments to complete significant infrastructure projects across all modes of transportation, including roads, rail, transit, aviation, and water, and for other purposes.

Introduced: May 22, 2003 See on congress.gov
Taxation AirportsBondsCommerceCongress
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Congressional reporting requirementsConstruction industriesCorporationsFinance and Financial SectorHarborsIncome taxInfrastructureInfrastructure (Economics)Mass rapid transitNonprofit organizationsRoad constructionScience, Technology, CommunicationsSocial WelfareTax creditsTax-exempt organizations
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2003
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6989-6991)
May 22, 2003
Introduced in Senate
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 Latest action May 22, 2003

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6989-6991)

 Plain-English summary Congressional Research Service

Build America Bonds Act of 2003 - Amends the Internal Revenue Code to allow an income tax credit to a taxpayer holding a Build America bond on a credit allowance date of such bond.

Defines a Build America bond as any bond issued by the Build America Corporation as part of an issue if 95 percent or more of the 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 qualified project as the financing of capital improvements for any transportation infrastructure project of any governmental unit or other person, including highways, transit systems, railroads, airports, ports, and inland waterways, proposed by a State and approved by the Build America Corporation.

Establishes the non-profit Build America Corporation to: (1) issue Build America bonds for the financing of qualified projects; (2) establish and operate the Build America Trust Account; and (3) perform any other function the sole purpose of which is to carry out the financing of qualified projects through Build America bonds.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 1 Republican 2
R
Collins, Susan M.
Maine · Nov 24, 2003
 R
Graham, Lindsey
South Carolina · Nov 24, 2003
 D
Wyden, Ron
Oregon · May 22, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1109: Build America Bonds Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-S-1109/
MLA
"S. 1109: Build America Bonds Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-S-1109/.
Bluebook (legal)
S. 1109, 108th Cong. (2026), https://openamerica.io/bill/108-S-1109/.
Markdown link
[S. 1109: Build America Bonds Act of 2003](https://openamerica.io/bill/108-S-1109/)
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