[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 451 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 451

  To amend the Internal Revenue Code of 1986 to increase the national 
  limitation amount for qualified highway or surface freight transfer 
                            facility bonds.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 25, 2021

     Mr. Blumenauer (for himself and Mr. Rodney Davis of Illinois) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to increase the national 
  limitation amount for qualified highway or surface freight transfer 
                            facility bonds.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Building United States 
Infrastructure and Leveraging Development Act'' or the ``BUILD Act''.

SEC. 2. INCREASE NATIONAL LIMITATION AMOUNT FOR QUALIFIED HIGHWAY OR 
              SURFACE FREIGHT TRANSFER FACILITY BONDS.

    (a) In General.--Section 142(m)(2)(A) of the Internal Revenue Code 
of 1986 is amended by striking ``$15,000,000,000'' and inserting 
``$30,000,000,000''.
    (b) Application of Davis-Bacon Act Requirements.--Section 142(m) is 
amended by adding at the end the following new paragraph:
            ``(5) Application of davis-bacon act requirements.--If any 
        proceeds of any issue are used for construction, alteration, or 
        repair of any facility otherwise described in paragraph (15) of 
        subsection (a), such facility shall be treated for purposes of 
        subsection (a) as described in such paragraph only if each 
        entity that receives such proceeds to conduct such 
        construction, alteration, or repair agrees to comply with the 
        provisions of subchapter IV of chapter 31 of title 40, United 
        States Code with respect to such construction, alteration, or 
        repair.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to bonds issued after the date of the enactment of this Act.
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