H.R.992 - Building American Jobs Act of 2011

To amend the Internal Revenue Code of 1986 to create jobs through increased investment in infrastructure, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to create jobs through increased investment in infrastructure, and for other purposes. as introduced.
  • Short: Building American Jobs Act of 2011 as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 2
  • All-Time: 3,531
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/10/11
 
 
 
 
 
 
 

Sponsor

Representative

Sander Levin

D-MI

View Co-Sponsors (21)

Official Summary

Building American Jobs Act of 2011 - Amends the Internal Revenue Code, with respect to the Build America Bond program, to: (1) extend until December 31, 2012, the authority to issue such bonds and the authority for payments to issuers of such bonds; (2) reduce the percentage rate of payment

Official Summary

Building American Jobs Act of 2011 - Amends the Internal Revenue Code, with respect to the Build America Bond program, to:
(1) extend until December 31, 2012, the authority to issue such bonds and the authority for payments to issuers of such bonds;
(2) reduce the percentage rate of payments to issuers in 2011 and 2012;
(3) allow refundings of currently issued bonds; and
(4) allow the use of Build America bonds to fund capital expenditures for levees and flood control projects. Extends through 2011 the authority to issue recovery zone economic development bonds. Requires the Secretary of the Treasury to allocate 2011 national limitations on such bonds based upon state unemployment statistics. Exempts private activity bonds for sewage and water supply facilities from the state volume caps applicable to such bonds. Allows Indian tribal governments to issue tax-exempt private activity bonds to provide water or sewage facilities. Extends through 2011:
(1) the exemption from alternative minimum tax (AMT) treatment of interest on certain tax-exempt bonds,
(2) the tax exemption allowed for interest on bonds guaranteed by a federal home loan bank, and
(3) small issuer rules for the allocation of tax-exempt interest expense by financial institutions. Allows a full offset against the AMT for new market tax credit amounts. Allows taxpayers to elect payments in lieu of low-income housing tax credits in 2011 for low-income buildings financed by tax-exempt bonds.

...Read the Rest

Organizations Supporting H.R.992

  • American Association of Airport Executives
  • American Hospital Association
  • Bond Dealers of America
  • Council of Development Finance Agencies
  • Council of Federal Home Loan Banks
  • Council of Infrastructure Financing Authorities
  • ...and 17 more. See all.

Organizations Opposing H.R.992

  • None via MapLight at this time.




Vote on This Bill

92% Users Support Bill

11 in favor / 1 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC