Investing in Our Communities Act
Latest action · May 15, 2019 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.
- IntroducedMay 15, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Investing in Our Communities Act
This bill amends the Internal Revenue Code, with respect to the requirements for tax-exempt bonds, to reinstate the exclusion from gross income for interest on certain bonds issued to advance refund another bond. The exclusion was repealed for bonds issued after 2017.
(A refunding bond is a bond used to pay principal, interest, or the redemption price on a prior bond issue. An advance refunding bond is issued more than 90 days before the redemption of the refunded bond.)
Cosponsors 31
Members who signed on, in the order they did. Signatures ran from May 15, 2019 to Sep 22, 2020; 9 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-KY | Andy Barr | Original | May 15, 2019 |
| D-WA | Derek Kilmer | Original | May 15, 2019 |
| D-DC | Eleanor Holmes Norton | Original | May 15, 2019 |
| D-TX | Henry Cuellar | Original | May 15, 2019 |
| D-CA | John Garamendi | Original | May 15, 2019 |
| R-NY | Lee M. Zeldin | Original | May 15, 2019 |
| D-IL | Raja Krishnamoorthi | Original | May 15, 2019 |
| R-OH | Steve Stivers | Original | May 15, 2019 |
| D-AL | Terri A. Sewell | Original | May 15, 2019 |
| D-MI | Daniel T. Kildee | May 21, 2019 | |
| R-PA | Brian K. Fitzpatrick | Jun 4, 2019 | |
| R-FL | Ross Spano | Jun 4, 2019 | |
| R-MO | Sam Graves | Jun 25, 2019 | |
| D-TX | Vicente Gonzalez | Jun 26, 2019 | |
| D-OR | Earl Blumenauer | Jul 18, 2019 | |
| D-NC | David E. Price | Aug 6, 2019 | |
| D-CA | Julia Brownley | Aug 13, 2019 | |
| D-MA | James P. McGovern | Sep 18, 2019 | |
| D-IL | Bradley Scott Schneider | Oct 11, 2019 | |
| D-FL | Darren Soto | Oct 23, 2019 | |
| D-TX | Veronica Escobar | Oct 28, 2019 | |
| D-OK | Kendra S. Horn | Nov 1, 2019 | |
| D-OH | Joyce Beatty | Jan 7, 2020 | |
| D-MI | Haley M. Stevens | Feb 10, 2020 | |
| R-FL | W. Gregory Steube | Feb 28, 2020 | |
| D-IA | Cynthia Axne | Mar 2, 2020 | |
| R-MI | Fred Upton | Mar 9, 2020 | |
| D-VA | Gerald E. Connolly | Mar 11, 2020 | |
| D-NY | Anthony Brindisi | Sep 8, 2020 | |
| D-CA | Pete Aguilar | Sep 11, 2020 | |
| D-CA | Judy Chu | Sep 22, 2020 |
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 May 15, 2019 |
Actions 2
Everything that happened, newest first.
- May 15, 2019Introduced in House
- May 15, 2019Referred to the House Committee on Ways and Means.
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
The sponsor’s statement, as printed in the Congressional Record, vol. 165, no. 81, May 15, 2019, page H3843.
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 |
|---|---|---|---|
| IN11079 | Advance Refunding Bonds and P.L. 115-97 Archived | Insight | Jan 31, 2020 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2 | Moving Forward Act | Related bill | Jul 20, 2020 |
| HR 2288 | Investing in Our Communities Act | Reintroduced Bill | Mar 29, 2021 |
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 reinstate advance refunding bonds.
- Short Title(s) as Introduced
- Investing in Our Communities Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 15, 2019Introduced 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
