arrow_back Back to App

Tax relief for state funds supporting school construction in Texas.

The Act amends the tax code to create special rules for certain state perpetual trust funds dedicated to supporting essential governmental functions, including public schools. This change allows these funds, such as those used for Texas school construction, to avoid specific tax burdens related to investments. The ultimate goal is to lower school construction costs, leading to more efficient use of public money and improved educational infrastructure.
Key points
Amends the definition of 'investment property' in the Internal Revenue Code to exclude specific state perpetual trust funds.
The exclusion applies to funds whose assets are used solely to support essential governmental functions or public elementary and secondary schools.
The goal is to reduce the financing costs of public projects, including school construction, by providing tax relief for the funds guaranteeing these projects.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_32
Sponsor: Rep. Doggett, Lloyd [D-TX-37]
Process start date: 2023-01-09
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Keeping Texas School Construction Costs Down Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_32.

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 2023-01-09.

What are the main provisions?

Key points include:

  • Amends the definition of 'investment property' in the Internal Revenue Code to exclude specific state perpetual trust funds.
  • The exclusion applies to funds whose assets are used solely to support essential governmental functions or public elementary and secondary schools.
  • The goal is to reduce the financing costs of public projects, including school construction, by providing tax relief for the funds guaranteeing these projects.
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. Doggett, Lloyd [D-TX-37].

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 2025-12-30.

CATEGORIES

Taxes Education Public Investments