[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2541 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 2541

  To amend the Internal Revenue Code of 1986 to increase the national 
  limitation amount for qualified highway or surface freight transfer 
                            facility bonds.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 7, 2019

 Mr. Blumenauer (for himself, Mr. Kelly of Pennsylvania, Ms. Sewell of 
  Alabama, and Mr. Rodney Davis of Illinois) introduced the following 
  bill; which was referred to the Committee on Ways and Means, and in 
 addition to the Committee on Transportation and Infrastructure, for a 
 period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

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                                 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 Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Building United States 
Infrastructure and Leveraging Development Act'' or the ``BUILD Act''.

SEC. 2. INCREASE NATIONAL LIMITATION AMOUNT FOR QUALIFIED HIGHWAY OR 
              SURFACE FREIGHT TRANSFER FACILITY BONDS.

    (a) In General.--Section 142(m)(2)(A) of the Internal Revenue Code 
of 1986 is amended by striking ``$15,000,000,000'' and inserting 
``$20,800,000,000''.
    (b) Application of Federal Requirements to Certain Tax-Exempt-Bond-
Funded Projects.--In the case of any component or segment of a project, 
if such component or segment is funded with a bond which receives an 
allocation from Secretary of Transportation under section 142(m)(2)(C) 
of the Internal Revenue Code of 1986, such component or segment shall 
be subject to Federal requirements that would apply if such component 
or segment were funded or financed under title 23 or 49, United States 
Code.
    (c) Effective Date.--The amendments made by this section shall 
apply to bonds issued after the date of the enactment of this Act.
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