BUILD Act

II 117TH CONGRESS 1ST SESSION S. 881 To amend the Internal Revenue Code of 1986 to increase the national limita- tion amount for qualified highway or surface freight transfer facility bonds. IN THE SENATE OF THE UNITED STATES MARCH 22, 2021 Mr. CORNYN introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to increase the national limitation amount for qualified highway or surface freight transfer facility bonds. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Building United States 4 Infrastructure and Leveraging Development Act’’ or the 5 ‘‘BUILD Act’’. 6 VerDate Sep 11 2014 22:55 Apr 11, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S881.IS S881 pamtmann on DSKBC07HB2PROD with BILLS 2 •S 881 IS SEC. 2. INCREASE NATIONAL LIMITATION AMOUNT FOR 1 QUALIFIED HIGHWAY OR SURFACE FREIGHT 2 TRANSFER FACILITY BONDS. 3 (a) IN GENERAL.—Section 142(m)(2)(A) of the In- 4 ternal Revenue Code of 1986 is amended by striking 5 ‘‘$15,000,000,000’’ and inserting ‘‘$30,000,000,000’’. 6 (b) EFFECTIVE DATE.—The amendments made by 7 this section shall apply to bonds issued after the date of 8 the enactment of this Act. 9 Æ VerDate Sep 11 2014 22:55 Apr 11, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S881.IS S881 pamtmann on DSKBC07HB2PROD with BILLS