US Congress Senate Bill 326 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 10-3)
Status: Introduced on February 7 2017 - 25% progression, died in committee
Action: 2017-02-07 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Public Buildings Renewal Act of 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; a facility of a state college or university used for educational purposes; a public library; a court; a hospital, health care, laboratory, or research facility; a public safety facility; or an office 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.

Public Buildings Renewal Act of 2017

Sen. Dean Heller [R-NV]	Sen. Bill Nelson [D-FL]	Sen. Bill Cassidy [R-LA]	Sen. Michael Bennet [D-CO]
Sen. Cory Gardner [R-CO]	Sen. Todd Young [R-IN]	Sen. David Perdue [R-GA]	Sen. Tom Cotton [R-AR]
Sen. Benjamin Cardin [D-MD]	Sen. Mike Rounds [R-SD]	Sen. Lindsey Graham [R-SC]	Sen. Jerry Moran [R-KS]
Sen. Tim Scott [R-SC]

Date	Chamber	Action
2017-02-07	Senate	Read twice and referred to the Committee on Finance.

HB960 (Related) 2017-02-07 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/326/all-info
Text	https://www.congress.gov/115/bills/s326/BILLS-115s326is.pdf