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Local Infrastructure Support: New Bonds and Tax Credits

This act introduces new infrastructure bonds to help fund local construction and renovation projects. This makes it easier for local governments to raise money for roads, bridges, and other vital investments, potentially improving residents' quality of life and creating jobs. The changes also affect debt refinancing rules and tax breaks for financial institutions.
Key points
Introduction of "American Infrastructure Bonds" (LIFT Act) offering tax credits to issuers, encouraging investment in local infrastructure.
Increase in the small issuer tax-exempt bond limit from $10 million to $30 million, making it easier for smaller municipalities and organizations to raise funds.
Enabling more favorable refinancing of existing infrastructure bonds, potentially leading to savings for local budgets.
Requirement for Davis-Bacon Act provisions (regarding wages and working conditions) to apply to projects funded by these bonds, ensuring fair compensation for workers.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 117_HR_2634
Sponsor: Rep. Sewell, Terri A. [D-AL-7]
Process start date: 2021-04-16
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

LIFT Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2634.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-16.

What are the main provisions?

Key points include:

  • Introduction of "American Infrastructure Bonds" (LIFT Act) offering tax credits to issuers, encouraging investment in local infrastructure.
  • Increase in the small issuer tax-exempt bond limit from $10 million to $30 million, making it easier for smaller municipalities and organizations to raise funds.
  • Enabling more favorable refinancing of existing infrastructure bonds, potentially leading to savings for local budgets.
  • Requirement for Davis-Bacon Act provisions (regarding wages and working conditions) to apply to projects funded by these bonds, ensuring fair compensation for workers.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sewell, Terri A. [D-AL-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Public Investments Taxes Transport