Tax Credits for Community College Bonds to Fund Infrastructure and Student Support.
This bill establishes a new tax credit for "Qualified Community College Bonds" to finance the construction, renovation, and operation of public community colleges. This initiative aims to improve citizens' access to affordable higher education by funding better facilities, equipment, and crucial student support services like affordable housing, childcare, and subsidized transportation. The program has a national limit of $1 billion annually, prioritizing underserved areas.
Key points
Provides $1 billion annually in tax-advantaged financing for community college infrastructure and expansion.
Funds can be used to build affordable student housing, on-campus childcare facilities, and subsidize student transportation costs.
Requires construction workers on these projects to be paid prevailing wages, benefiting local labor.
Prioritizes funding for colleges in areas lacking higher education institutions and those committed to green building standards.
Status:
Expired
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