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Easier Funding for Public Building Renovations and Construction

This act aims to simplify the financing of renovations and construction for essential public buildings like schools, hospitals, and libraries. This will allow local governments and public institutions to secure funds for these investments more favorably, potentially leading to improved public services for citizens.
Key points
New rules allow tax-exempt bond financing for public buildings, reducing borrowing costs for the government.
This covers a wide range of facilities, including schools, hospitals, libraries, courts, public safety facilities, and government offices.
A national limit of $5 billion is set for such financing, allocated on a first-come, first-served basis.
Recreational, entertainment, and retail facilities like golf courses or sports stadiums are excluded.
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Expired
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Additional Information
Print number: 117_S_1299
Sponsor: Sen. Young, Todd [R-IN]
Process start date: 2021-04-22
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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

Public Buildings Renewal Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1299.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-22.

What are the main provisions?

Key points include:

  • New rules allow tax-exempt bond financing for public buildings, reducing borrowing costs for the government.
  • This covers a wide range of facilities, including schools, hospitals, libraries, courts, public safety facilities, and government offices.
  • A national limit of $5 billion is set for such financing, allocated on a first-come, first-served basis.
  • Recreational, entertainment, and retail facilities like golf courses or sports stadiums are excluded.
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 Sen. Young, Todd [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Public Investments Taxes Education Health Courts and Law