US HB2084 | 2013-2014 | 113th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on May 22 2013 - 25% progression, died in committee
Action: 2013-09-04 - Referred to the Subcommittee on Water Resources and Environment.
Pending: House Subcommittee on Water Resources and Environment Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 22 2013 - 25% progression, died in committee
Action: 2013-09-04 - Referred to the Subcommittee on Water Resources and Environment.
Pending: House Subcommittee on Water Resources and Environment Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Partnership to Build America Act of 2013 - Establishes the American Infrastructure Fund (AIF) as a wholly-owned government corporation to provide bond guarantees and make loans to state and local governments and non-profit infrastructure providers for transportation, energy, water, communications, or educational facility infrastructure projects (Qualified Infrastructure Projects [QIPs]). Requires AIF also to make equity investments in QIPs such entities sponsor. Directs the Secretary of the Treasury, acting through the AIF, to issue American Infrastructure Bonds with an aggregate face value of $50 billion. Requires proceeds from the sale of the bonds to be deposited into the AIF. Amends the Internal Revenue Code to allow U.S. corporations to exclude from gross income qualified cash dividend amounts received during a taxable year from a foreign-controlled corporation equal to the face value of qualified infrastructure bonds the corporation has purchased. Prohibits allowance of a foreign tax credit to the excluded portion of any dividend received by a U.S. corporation. Prohibits also the allowance of a deduction for expenses related to that excludable portion.
Title
Partnership to Build America Act of 2013
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2013-09-04 | House | Referred to the Subcommittee on Water Resources and Environment. |
| 2013-09-04 | House | Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials. |
| 2013-09-04 | House | Referred to the Subcommittee on Highways and Transit. |
| 2013-05-22 | House | Referred to House Ways and Means |
| 2013-05-22 | House | Referred to the Subcommittee on Aviation. |
| 2013-05-22 | House | Referred to House Transportation and Infrastructure |
| 2013-05-22 | House | Referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
Same As/Similar To
SB1957 (Related) 2014-01-16 - Read twice and referred to the Committee on Finance.
HB4550 (Related) 2014-06-13 - Referred to the Subcommittee on Higher Education and Workforce Training.
HB4550 (Related) 2014-06-13 - Referred to the Subcommittee on Higher Education and Workforce Training.
Subjects
Corporate finance and management
Foreign and international corporations
Government corporations and government-sponsored enterprises
Government lending and loan guarantees
Income tax exclusion
Infrastructure development
Interest, dividends, interest rates
Public-private cooperation
Securities
State and local finance
Taxation of foreign income
Transportation and public works
Foreign and international corporations
Government corporations and government-sponsored enterprises
Government lending and loan guarantees
Income tax exclusion
Infrastructure development
Interest, dividends, interest rates
Public-private cooperation
Securities
State and local finance
Taxation of foreign income
Transportation and public works
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/113th-congress/house-bill/2084/all-info |
| Text | https://www.congress.gov/113/bills/hr2084/BILLS-113hr2084ih.pdf |
