| Bill | HR 1251 |
|---|---|
| Type of Legislation | House Bill |
| Congress | 116 |
| Source | View original on Congress.gov |
Description
Public Buildings Renewal Act of 2019
This bill allows tax-exempt financing of certain government-owned buildings by expanding the definition of "exempt facility bond" to include bonds used for qualified government buildings.
A qualified government building is a government-owned building or facility that consists of one or more of the following
- an elementary or secondary school;
- facilities of a state college or university used for educational purposes;
- a public library;
- a court;
- hospital, health care, laboratory, or research facilities;
- public safety facilities; or
- offices for government employees.
The bill excludes buildings or facilities that include specified recreational equipment or are used for the primary purpose of providing retail food and beverage services, recreation, or entertainment.
The bill establishes (1) a $5 billion limit on the amount of tax-exempt financing which may be provided for government buildings, and (2) procedures for allocating and applying for the financing.
The bill exempts the bonds for government buildings from the volume cap on private activity bonds.
Bill Title
Public Buildings Renewal Act of 2019
Linked Goals
Steps
Steps taken on this bill were not available from Congress.gov.
Projected Outcome
A more informed proposal or public response aligned with the Promote General Welfare goal.