3.0.0 2718 2022-02-09T03:26:22Z 2022-02-09T03:26:22Z House HR 2019-05-14 116 [Congressional Record Volume 165, Number 80 (Tuesday, May 14, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KILMER:H.R. 2718.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H3790]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-05-14T16:03:35Z 2019-05-14 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-05-14 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-05-14 Introduced in House IntroReferral 1000 9 Library of Congress K000381 Rep. Kilmer, Derek [D-WA-6] Derek Kilmer D WA 6 N H001064 Rep. Heck, Denny [D-WA-10] Denny Heck D WA 10 2019-05-14 True Taxation Building construction Environmental technology Income tax exclusion Infrastructure development Securities State and local finance Water quality Water use and supply Taxation 00 2019-05-14 Introduced in House 2019-06-12T17:19:47Z Preventing Pollution through Partnerships Act or the P3 Act

This bill allows state and local governments to issue green infrastructure bonds as tax-exempt private activity bonds. The bonds are not subject to the state volume caps that apply to certain tax-exempt private activity bonds.

A green infrastructure bond must be issued as part of an issuance that requires 95% or more of the net proceeds to be used to develop, carry out, or certify approved green infrastructure projects. The approved projects are to construct, rehabilitate, maintain, or repair green infrastructure that has been certified by the state in which the project is located as effectively addressing nonpoint source pollution.

"Green infrastructure" is infrastructure that preserves, enhances, or mimics natural infiltration, evapotranspiration, or capture of storm water.

]]> P3 Act Display Title P3 Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to include green infrastructure bonds in the definition of qualified private activity bonds. Introduced in House IH Short Title(s) as Introduced P3 Act Introduced in House IH Short Title(s) as Introduced Preventing Pollution through Partnerships Act Introduced in House IH Introduced in House 2019-05-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2718ih/xml/BILLS-116hr2718ih.xml 2019-05-14 Referred to the House Committee on Ways and Means. 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.