Skip to main content
S 238 111th Congress Senate Taxation Government trust funds Income tax credits Infrastructure development Intergovernmental relations Marine and inland water transportation Navigation, waterways, harbors Public transit Railroads Roads and highways Securities State and local finance Tariffs Transportation programs funding User charges and fees

Build America Bonds Act of 2009

Introduced: January 14, 2009 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 14, 2009
Read twice and referred to the Committee on Finance.
Jan 14, 2009
Sponsor introductory remarks on measure. (CR S390)
Jan 14, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

Build America Bonds Act of 2009 - Amends the Internal Revenue Code to allow an income tax credit for any Build America bond issued by the Transportation Finance Corporation as part of an issue, if 100% of the available project proceeds from such issue are to be used for expenditures incurred for one or more qualified projects. Requires proceeds from the sale of bonds issued under this Act to be held in a Build America Bonds Trust Account.

Defines "qualified project" as the capital improvements to any transportation infrastructure project (including roads, bridges, rail and transit systems, ports, and inland waterways) proposed by one or more states and approved by the Transportation Finance Corporation.

Grants Congress' consent and recognition to the establishment by two or more state infrastructure banks of the Transportation Finance Corporation. Authorizes the Transportation Finance Corporation to: (1) issue Build America bonds for the financing of qualified projects; (2) establish and operate the Build America Bonds 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.

Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend certain customs fees for the processing of merchandise entered into the United States through specified dates in 2046.

What's happening now January 14, 2009

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 1 Republican 3