Move America Act of 2019
Latest action · Jan 16, 2019 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, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Move America Act of 2019
This bill allows tax-exempt Move America bonds and Move America tax credits to be used for certain infrastructure projects.
A Move America bond is treated as a tax-exempt private facility bond with certain exceptions. At least 95% of the net proceeds from the issuance of the bond must be used for infrastructure projects, including
- airports;
- docks and wharves;
- mass commuting facilities;
- facilities for the furnishing of water;
- sewage facilities;
- railroads;
- certain surface transportation projects eligible for federal assistance, projects for an international bridge or tunnel, or facilities for transferring freight from truck to rail or rail to truck;
- flood diversions;
- inland waterways; or
- rural broadband service infrastructure.
The bill specifies exceptions and modifications to existing rules for bonds regarding land acquisition, government ownership, rehabilitation expenditures, and the alternative minimum tax.
The bonds are subject to a volume cap equal to 50% of a state's current private activity bond volume cap. States may exchange all or a portion of the volume cap for Move America tax credits to be allocated to taxpayers. The credits include (1) an equity credit for a portion of the basis of each qualified facility; and (2) an infrastructure fund credit for investments in qualified infrastructure funds, including a state infrastructure bank, a water pollution control revolving fund, or a drinking water treatment revolving loan fund.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jan 16, 2019.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-OR | Ron Wyden | Original | Jan 16, 2019 |
Actions 2
Everything that happened, newest first.
- Jan 16, 2019Introduced in Senate
- Jan 16, 2019Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1508 | Move America Act of 2019 | Related bill | Mar 5, 2019 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Aviation and airports
- Floods and storm protection
- Government information and archives
- Government lending and loan guarantees
- Income tax credits
- Income tax exclusion
- Infrastructure development
- Internet and video services
- Internet, web applications, social media
- Marine and inland water transportation
- Navigation, waterways, harbors
- Public transit
- Railroads
- Roads and highways
- Securities
- Solid waste and recycling
- State and local finance
- Taxation
- Transportation programs funding
- Water quality
- Water resources funding
- Water use and supply
Text 1
Each version as it was printed, newest first.
- Jan 16, 2019Introduced 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.