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Titles (1)

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to provide for the tax-exempt financing of certain government-owned buildings.


Actions Overview (1)

Date
02/07/2017Introduced in House

All Actions (2)

Date
02/07/2017Referred to the House Committee on Ways and Means.
Action By: House of Representatives
02/07/2017Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means02/07/2017 Referred to

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Latest Summary (1)

There is one summary for H.R.960. View summaries

Shown Here:
Introduced in House (02/07/2017)

This bill amends the Internal Revenue Code to permit the tax-exempt financing of certain government-owned buildings by expanding the definition of "exempt facility bond" to include bonds used for qualified government buildings.

A qualified government building is a government-owned building or facility that consists of one or more of the following:

  • an elementary or secondary school;
  • facilities of a state college or university used for educational purposes;
  • a public library;
  • a court;
  • hospital, health care, laboratory, or research facilities;
  • public safety facilities; or
  • offices for government employees.

The bill excludes buildings or facilities that include specified recreational equipment or are used for the primary purpose of providing retail food and beverage services, recreation, or entertainment.

The bill establishes: (1) a $5 billion limit on the amount of tax-exempt financing which may be provided for government buildings, and (2) procedures for allocating and applying for the financing.

The bill exempts the bonds for government buildings from the volume cap on private activity bonds.