3.0.0 3177 2023-01-11T13:33:15Z 2023-01-11T13:33:15Z Senate S 2016-07-13 114 ssfi00 Finance Committee Senate Standing Referred to 2016-07-13T16:39:02Z To amend the Internal Revenue Code of 1986 to provide for the tax-exempt financing of certain government-owned buildings. 114 5361 HR 2016-05-26 Referred to the House Committee on Ways and Means. Related bill CRS 2016-07-13 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2016-07-13 Introduced in Senate IntroReferral 10000 9 Library of Congress H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV N N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2016-07-13 True P000612 Sen. Perdue, David [R-GA] David Perdue R GA Alfred 2016-09-28 False B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2016-09-28 False C001075 Sen. Cassidy, Bill [R-LA] Bill Cassidy R LA 2016-12-08 False Taxation Building construction Educational facilities and institutions Elementary and secondary education Government buildings, facilities, and property Health facilities and institutions Higher education Income tax exclusion Law enforcement administration and funding Libraries and archives Research administration and funding Securities Taxation 00 2016-07-13 Introduced in Senate 2016-09-22T18:16:53Z Public Buildings Renewal Act of 2016

This bill amends the Internal Revenue Code to permit the tax-exempt financing of certain government-owned buildings by expanding the definition of "exempt facility bond" to include bonds used for qualified government buildings.

A qualified government building is a government-owned building or facility that consists of one or more of the following:

  • an elementary or secondary school;
  • facilities of a state college or university used for educational purposes;
  • a public library;
  • a court;
  • hospital, health care, laboratory, or research facilities;
  • public safety facilities; or
  • offices for government employees.

The bill excludes buildings or facilities that include specified recreational equipment or are used for the primary purpose of providing retail food and beverage services, recreation, or entertainment.

The bill establishes: (1) a $5 billion limit on the amount of tax-exempt financing which may be provided for government buildings, and (2) procedures for allocating and applying for the financing.

The bill exempts the bonds for government buildings from the volume cap on private activity bonds.

]]> Public Buildings Renewal Act of 2016 Display Title Public Buildings Renewal Act of 2016 Short Titles as Introduced Public Buildings Renewal Act of 2016 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for the tax-exempt financing of certain government-owned buildings. Introduced in Senate 2016-07-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s3177is/xml/BILLS-114s3177is.xml 2016-07-13 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.