Partnership to Build America Act of 2013
Latest action · Sep 4, 2013 Referred to the Subcommittee on Water Resources and Environment.
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.
- IntroducedMay 22, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 75
Members who signed on, in the order they did. Signatures ran from May 22, 2013 to Jul 31, 2014, with 26 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IL | Adam Kinzinger | Original | May 22, 2013 |
| D-CA | Ami Bera | Original | May 22, 2013 |
| R-KY | Andy Barr | Original | May 22, 2013 |
| R-OH | Bill Johnson | Original | May 22, 2013 |
| D-MD | C. A. Dutch Ruppersberger | Original | May 22, 2013 |
| R-NY | Christopher P. Gibson | Original | May 22, 2013 |
| R-OH | David P. Joyce | Original | May 22, 2013 |
| D-VA | Gerald E. Connolly | Original | May 22, 2013 |
| D-VA | James P. Moran | Original | May 22, 2013 |
| D-CO | Jared Polis | Original | May 22, 2013 |
| D-FL | Joe Garcia | Original | May 22, 2013 |
| D-DE | John C. Carney, Jr. | Original | May 22, 2013 |
| D-MA | Joseph P. Kennedy III | Original | May 22, 2013 |
| D-AZ | Kyrsten Sinema | Original | May 22, 2013 |
| R-IN | Luke Messer | Original | May 22, 2013 |
Actions 6
Everything that happened, newest first.
- Sep 4, 2013Referred to the Subcommittee on Highways and Transit.
- Sep 4, 2013Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
- Sep 4, 2013Referred to the Subcommittee on Water Resources and Environment.
- May 22, 2013Introduced in House
- May 22, 2013Referred 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.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1957 | Partnership to Build America Act of 2014 | Related bill | Jan 16, 2014 |
| HR 4550 | Emergency Unemployment Compensation Extension Act of 2014 | Related bill | Jun 13, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Transportation and Public Works.
- 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
Text 1
Each version as it was printed, newest first.
- May 22, 2013Introduced in House
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.
