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HR 7041 115th Congress House Taxation Government lending and loan guarantees Infrastructure development Land use and conservation State and local finance Water use and supply

P3 Act

Introduced: October 5, 2018 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 16, 2018
Referred to the Subcommittee on Trade.
Oct 5, 2018
Referred to the House Committee on Ways and Means.
Oct 5, 2018
Introduced in House
 Plain-English summary Congressional Research Service

Preventing Pollution through Partnerships Act or the P3 Act

This bill amends the Internal Revenue Code to allow 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.

What's happening now October 16, 2018

Referred to the Subcommittee on Trade.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1