H.R.1396 - Public Buildings Renewal Act of 2021117th Congress (2021-2022) |
|Sponsor:||Rep. Blumenauer, Earl [D-OR-3] (Introduced 02/26/2021)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 02/26/2021 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.1396 — 117th Congress (2021-2022)All Information (Except Text)
Introduced in House (02/26/2021)
Public Buildings Renewal Act of 2021
This bill allows 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 of a building, including a certification that the project owner will use reasonable efforts to ensure against job losses.
The bill also allows an exemption from the volume cap for private activity bonds used to finance government buildings.