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HR 413 114th Congress House Transportation and Public Works Buy American requirements Corporate finance and management Foreign and international corporations Government corporations and government-sponsored enterprises Government lending and loan guarantees Income tax exclusion Infrastructure development Interest, dividends, interest rates Public-private cooperation Securities State and local finance Taxation of foreign income

Partnership to Build America Act of 2015

Introduced: January 20, 2015 See on congress.gov
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 Everywhere this bill has been 8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 21, 2015
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Jan 21, 2015
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Jan 21, 2015
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Jan 21, 2015
Referred to the Subcommittee on Aviation.
Jan 21, 2015
Referred to the Subcommittee on Water Resources and Environment.
Jan 21, 2015
Referred to the Subcommittee on Highways and Transit.
Jan 20, 2015
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 20, 2015
Introduced in House
 Plain-English summary Congressional Research Service

Partnership to Build America Act of 2015

Establishes the American Infrastructure Fund (AIF) as a wholly-owned government corporation to provide bond guarantees and make loans to state and local governments, non-profit infrastructure providers, private parties, and public-private partnerships for state or local government sponsored transportation, energy, water, communications, or educational facility infrastructure projects (Qualified Infrastructure Projects [QIPs]). Authorizes AIF also to make equity investments in QIPs.

Directs the Secretary of the Treasury, acting through the AIF, to issue American Infrastructure Bonds with an aggregate face value of $50 billion. Requires proceeds from the sale of the bonds to be deposited into the AIF.

Amends the Internal Revenue Code to allow U.S. corporations to exclude from gross income qualified cash dividend amounts received during a taxable year from a foreign-controlled corporation equal to the face value of qualified infrastructure bonds the corporation has purchased.

Prohibits allowance of a foreign tax credit to the excluded portion of any dividend received by a U.S. corporation. Prohibits also the allowance of a deduction for expenses related to that excludable portion.

What's happening now January 21, 2015

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

 Committees of jurisdiction 8
 Cosponsors 9
All 9 Democratic 6 Republican 3