[Congressional Record (Bound Edition), Volume 155 (2009), Part 22]
[Extensions of Remarks]
[Page 30675]
[From the U.S. Government Publishing Office, www.gpo.gov]




               CLEAN AIR AND WATER INVESTMENT ACT OF 2009

                                 ______
                                 

                         HON. LINDA T. SANCHEZ

                             of california

                    in the house of representatives

                       Tuesday, December 8, 2009

  Ms. LINDA T. SANCHEZ of California. Madam Speaker, I rise today to 
introduce the Clean Air and Water Investment Act of 2009. This 
legislation will restore tax exempt bonding for air and water pollution 
control facilities.
  Prior to the 1986 revision to the tax code, state authorized agencies 
and political subdivisions were permitted to administer tax exempt 
bonds to finance ``air and water pollution control facilities.'' The 
program proved so effective that even facilities that were 
grandfathered, and not subject to clean air standards, were proactive 
participants, providing cleaner air and water for our communities.
  As we continue to look for ways to assist businesses and local 
governments in their efforts to reduce pollution, these bonds provide 
an affordable solution that will put people to work while providing 
cleaner and healthier communities. This bill would restore a proven 
incentive for industry to invest in cleaner air and water. Importantly, 
because it falls under a pre-existing spending cap, this legislation 
will present no new liability to the U.S. Treasury.
  Members on opposite sides of the aisle frequently may differ on many 
issues before this body, but this is not one of them. I am pleased to 
be working on this bill with Congressman Kevin Brady of Texas, a fellow 
Congressional baseball aficionado. Congressman Brady has been working 
on this issue for many years now, and I look forward to collaborating 
with him and seeing this bill signed into law.
  I urge my colleagues to consider support this important legislation.

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