S. 352 - Building United States Infrastructure and Leveraging Development (BUILD) Act

116TH CONGRESS
1ST SESSION

S. 352

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

IN THE SENATE OF THE UNITED STATES

FEBRUARY 6, 2019

Mr. CORNYN (for himself and Mr. WARNER) introduced the following bill;
which was read twice and referred to the Committee on Finance

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) EFFECTIVE DATE. — The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act.