S 5187
Community College Infrastructure Financing Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Community College Infrastructure Financing Act establishes a tax credit for bonds issued by states, local governments, and tribal governments to finance improvements at community colleges. These ‘Qualified Community College Bonds’ must meet specific criteria, including a significant portion of project funds dedicated to qualified purposes like building construction and expansion, and must be approved by the state higher education agency. The bill also sets a national limit on the amount of bonds that can be designated for the credit and prioritizes allocations to community colleges in underserved areas, while also encouraging green building practices. Furthermore, it revives certain tax provisions to allow issuers of these bonds to claim tax credits.
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Primary sponsor
Robert P., Jr. Casey
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