Partnership to Build America Act of 2014
Latest action · Jan 16, 2014 Read twice and referred to the Committee on Finance.
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.
- IntroducedJan 16, 2014
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Partnership to Build America Act of 2014 - Establishes the American Infrastructure Fund (AIF) as a wholly-owned government corporation to provide bond guarantees and make loans to state and local governments, non-profit infrastructure providers, private parties, and public-private partnerships for state or local government sponsored transportation, energy, water, communications, or educational facility infrastructure projects (Qualified Infrastructure Projects [QIPs]). Authorizes AIF also to make equity investments in QIPs .
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 14
Members who signed on, in the order they did. Signatures ran from Jan 16, 2014 to Jun 11, 2014; 10 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| I-ME | Angus S. King Jr. | Original | Jan 16, 2014 |
| R-IN | Daniel Coats | Original | Jan 16, 2014 |
| R-ND | John Hoeven | Original | Jan 16, 2014 |
| R-NH | Kelly Ayotte | Original | Jan 16, 2014 |
| R-SC | Lindsey Graham | Original | Jan 16, 2014 |
| D-AK | Mark Begich | Original | Jan 16, 2014 |
| R-IL | Mark Kirk | Original | Jan 16, 2014 |
| D-VA | Mark R. Warner | Original | Jan 16, 2014 |
| D-LA | Mary L. Landrieu | Original | Jan 16, 2014 |
| R-MO | Roy Blunt | Original | Jan 16, 2014 |
| D-MO | Claire McCaskill | Jan 30, 2014 | |
| R-MS | Roger F. Wicker | Feb 24, 2014 | |
| D-DE | Christopher A. Coons | May 14, 2014 | |
| D-CT | Richard Blumenthal | Jun 11, 2014 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jan 17, 2014 |
Actions 2
Everything that happened, newest first.
- Jan 16, 2014Introduced in Senate
- Jan 16, 2014Read twice and referred to the Committee on Finance.
In the Congressional Record 1
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 |
|---|---|---|---|
| Senate | Debate and remarks S3447 | Christopher A. Coons D-DE | Jun 5, 2014 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2084 | Partnership to Build America Act of 2013 | Related bill | Sep 4, 2013 |
| HR 4550 | Emergency Unemployment Compensation Extension Act of 2014 | Related bill | Jun 13, 2014 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to establish the American Infrastructure Fund, to provide bond guarantees and make loans to States, local governments, and infrastructure providers for investments in certain infrastructure projects, and to provide equity investments in such projects, and for other purposes.
- Short Titles as Introduced
- Partnership to Build America Act of 2014
Subjects
Assigned by the Library of Congress. Policy area: Transportation and Public Works.
- Buy American requirements
- 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.
- Jan 16, 2014Introduced in Senate
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.
