Build America Bonds Act of 2007

A bill to provide $50,000,000,000 in new transportation infrastructure funding through bonding to empower States and local governments to complete significant infrastructure projects across all modes of transportation, including roads, bridges, rail and transit systems, ports, and inland waterways, and for other purposes.

9/6/2007--Introduced.
Build America Bonds Act of 2007 - Amends the Internal Revenue Code to allow an income tax credit to a taxpayer holding a Build America bond on one or more of its credit allowance dates. Defines a "Build America bond" as any bond issued by the Transportation Finance Corporation as part of an issue if 95% or more of the proceeds from such issue are to be used for expenditures incurred for one or more qualified projects. Requires proceeds from the sale of bonds issued under this Act to be held in a Build America Bonds Trust Account. Defines "qualified project" as the capital improvements to any transportation infrastructure project (including roads, bridges, rail and transit systems, ports, and inland waterways) proposed by one or more states and approved by the Transportation Finance Corporation. Grants Congress' consent and recognition to the establishment by two or more state infrastructure banks of the Transportation Finance Corporation. Authorizes the Transportation Finance Corporation to:
(1) issue Build America bonds for the financing of qualified projects;
(2) establish and operate the Build America Bonds Trust Account;
(3) leverage resources and stimulate public and private investment in transportation infrastructure; and
(4) perform any other function the sole purpose of which is to carry out the financing of qualified projects through Build America bonds. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to extend certain customs fees for the processing of merchandise entered into the United States through October 14, 2026.


... morehide bill summary

Sponsor

• Sen. Ron Wyden [D, OR]
• and 7 Co-Sponsors
  • Sen. Hillary Clinton [D, NY]
  • Norm Coleman
  • Sen. Susan Collins [R, ME]
  • Elizabeth Dole
  • Sen. Amy Klobuchar [D, MN]
  • Sen. John Thune [R, SD]
  • Sen. David Vitter [R, LA]
  close

Committees

• Senate Finance

Amendments

This bill has no amendments.

Amendments to S.2021

Number	Status	Purpose

Bill Status

Make a Bill Status Widget

	OpenCongress widgets allow you to display information about bills and issue areas on your own website or blog. First, select which bill or issue you want to track, then customize the appearance of the panel, and finally paste a simple chunk of HTML into your site. Now your community will have an easy, up-to-date way to track the status of important bills and issues in Congress.

Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
September 06, 2007

Show All Actions (3 actions)Hide Actions

All Bill Actions

• Introduced on Sep 06, 2007.
• Sep 06, 2007: Sponsor introductory remarks on measure. (CR S11215-11216)
• Sep 06, 2007: Read twice and referred to the Committee on Finance.

---

Related Issue Areas:

• Taxation
• Administrative fees
• Banks and banking
• Bonds
• 22 more
• Bridges
• Budgets
• Business
• Corporations
• Customs administration
• Finance
• Government trust funds
• Harbors
• Highway finance
• Income tax
• Infrastructure
• Inland water transportation
• Investment of public funds
• Law
• Marine terminals
• Mass rapid transit
• Railroad finance
• Tax credits
• Tax-exempt organizations
• Trade
• Transportation
• Waterways

Data from the Congressional Research Service

Show More User Statistics... Hide User Statistics

In the News

We are not currently finding any news articles on this topic using our daily automated search of Google News. However, if you know of a relevant news article to display here, OpenCongress site editors have the ability to add it manually. Simply e-mail us the web address of this page and the web address of your suggested news article: We'll post relevant links as quickly as possible. Also, if this topic is important to you, you could write a letter to the editor -- if a news article refers this specific topic by name, a link to that news article is likely to appear here soon.

Information made available by:

Blog Coverage

September 17, 2008 Financing the Productive Economy: The Heartland Development Bank ...

Wyden or Oregon has introduced legislation (S. 2021) that calls for 50 billion dollars in infrastructure bonding through the issue of "Build America Bonds." In the House, there have also been moves towards proposing new solutions, ...

Was this article useful? Yes or No

Source: The New America Foundation -

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

August 27, 2008 Public-Private Partnerships at the Crossroads | Planetizen

Dodd (D-CT) and Hagel (R-NE), and the "Build America Bonds" program (S. 2021) proposed by Sens. Thune (R-SD) and Wyden (D-OR). Both initiatives would create a de facto national capital budget that could be used to fund "qualified public ...

Was this article useful? Yes or No

Source: Planetizen Interchange

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

August 25, 2008 Cascadia Prospectus

Christopher Dodd (D-CT) and Hagel, and the "Build America Bonds" program (S. 2021) proposed by Sens. John Thune (R-SD) and Ron Wyden (D-OR, below at left). Both initiatives would create a de facto national capital budget that could be ...

Was this article useful? Yes or No

Source: Cascadia Prospectus

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

4 more posts...
See most useful blog posts

Information made available by: