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S 428 109th Congress Senate

Build America Bonds Act of 2005

Official title: A bill to provide $30,000,000,000 in new transportation infrastructure funding in addition to TEA-21 levels through bonding to empower States and local governm… Show full official titleShow less

Official title: A bill to provide $30,000,000,000 in new transportation infrastructure funding in addition to TEA-21 levels through bonding to empower States and local governments to complete significant long-term capital improvement projects for highways, public transportation systems, and rail systems, and for other purposes.

Introduced: February 17, 2005 See on congress.gov
Taxation Border patrolsBoundariesCanadaCapital investments
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CommerceCorporationsEconomics and Public FinanceEnvironmental ProtectionEnvironmental assessmentFederal aid to transportationFinance and Financial SectorFreightGovernment trust fundsHighway financeHighway planningImmigrationIncome taxInfrastructureIntermodal transportationJob creationLabor and EmploymentLatin AmericaMass rapid transitMexicoMutual fundsPublic-private partnershipsRailroad financeRailroad freight operationsRailroad passenger trafficRegional economic developmentRight-of-wayRoad constructionSecurity measuresTax creditsTax-exempt organizationsTax-exempt securitiesTraffic accidents and safetyTransportation and Public WorksTransportation planningTransportation safety
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 16, 2005
Star Print ordered on the bill.
Feb 17, 2005
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1643-1647)
Feb 17, 2005
Introduced in Senate
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 Latest action March 16, 2005

Star Print ordered on the bill.

 Plain-English summary Congressional Research Service

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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 1 Republican 2
R
Collins, Susan M.
Maine · Feb 17, 2005
 R
Graham, Lindsey
South Carolina · Feb 17, 2005
Vitter, David
· Feb 17, 2005
 D
Wyden, Ron
Oregon · Feb 17, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). S. 428: Build America Bonds Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-S-428/
MLA
"S. 428: Build America Bonds Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-428/.
Bluebook (legal)
S. 428, 109th Cong. (2026), https://openamerica.io/bill/109-S-428/.
Markdown link
[S. 428: Build America Bonds Act of 2005](https://openamerica.io/bill/109-S-428/)
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