HR 992 · 112th Congress 2011–2013, ended

Building American Jobs Act of 2011

Introduced Mar 10, 2011 Originated House Sponsor Sander M. Levin D-MI

Latest action · Mar 10, 2011 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedMar 10, 2011
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

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.

Cosponsors 21

Members who signed on, in the order they did. Signatures ran from Mar 10, 2011 to Sep 8, 2011; 13 are original cosponsors, there from the day it was introduced.

Seat	Cosponsor		Signed on
D-NJ	Bill Pascrell, Jr.	Original	Mar 10, 2011
D-NY	Charles B. Rangel	Original	Mar 10, 2011
D-OR	Earl Blumenauer	Original	Mar 10, 2011
D-CA	Fortney Pete Stark	Original	Mar 10, 2011
D-WA	Jim McDermott	Original	Mar 10, 2011
D-CT	John B. Larson	Original	Mar 10, 2011
D-GA	John Lewis	Original	Mar 10, 2011
D-NY	Joseph Crowley	Original	Mar 10, 2011
D-CA	Mike Thompson	Original	Mar 10, 2011
D-MA	Richard E. Neal	Original	Mar 10, 2011
D-WI	Ron Kind	Original	Mar 10, 2011
D-NV	Shelley Berkley	Original	Mar 10, 2011
D-CA	Xavier Becerra	Original	Mar 10, 2011
D-MI	John D. Dingell		Mar 11, 2011
D-HI	Mazie K. Hirono		Mar 30, 2011
D-RI	David N. Cicilline		May 4, 2011
D-NY	Yvette D. Clarke		May 10, 2011
D-CA	John Garamendi		Jun 1, 2011
D-CA	Adam B. Schiff		Jul 11, 2011
D-WV	Nick J. Rahall II		Jul 21, 2011
D-CA	Grace F. Napolitano		Sep 8, 2011

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Ways and Means Committee	Referred Mar 10, 2011

Actions 2

Everything that happened, newest first.

Mar 10, 2011Introduced in House
Mar 10, 2011Referred to the House Committee on Ways and Means.

In the Congressional Record 2

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

Where	In the Record	Members	Date
House	Debate and remarks H1857	Robert E. Andrews D-NJ	Mar 16, 2011
House	Lists H1725H.R. 992-1030	—	Mar 10, 2011

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: The Congress enacts this bill pursuant to Sections 7 and 8 of Article I of the United States Constitution and Amendment XVI of the United States Constitution.

The sponsor’s statement, as printed in the page H1725.

CRS reports 1

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 1

Products on other subjects that cite it, usually among other measures.

Product	Title	Kind	Published
R41735	State and Local Government Debt: An Analysis Archived	Report	Jan 23, 2012

Related bills 3

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
HR 11	Build America Bonds to Create Jobs Now Act of 2011	Related bill	Feb 10, 2011
HR 736	BABE RUTH Act of 2011	Related bill	Feb 16, 2011
HR 747	Build America Bonds Extension Act of 2011	Related bill	Feb 16, 2011

Titles 2

Every title it has carried, official and short, at each stage.

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

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

Mar 10, 2011Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.