S 4754
A bill to amend the Internal Revenue Code of 1986 to establish COVID Recovery Bonds, and for other purposes.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill creates a new program of ‘COVID Recovery Bonds’ that are treated as tax-exempt for certain government projects. These bonds must meet specific criteria, including using proceeds for qualified project costs and being designated by state officials. The bill also modifies existing tax law to allow for tax-exempt financing of ‘qualified government buildings,’ which are defined as educational facilities, libraries, courts, hospitals, laboratories, public safety facilities, and government office space, excluding certain recreational and entertainment venues. It establishes a process for allocating a national bond limitation among states based on population.
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Primary sponsor
David Perdue
Cosponsor
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