A bill to provide $50,000,000,000 in new transportation infrastructure funding through bonding to empower States and local governments to complete significant infrastructure projects across all modes of transportation, including roads, bridges, rail and transit systems, ports, and inland waterways, and for other purposes.
Transportation and Regional Infrastructure Project Bonds Act of 2013 or TRIP Bonds Act - Amends the Internal Revenue Code to allow an income tax credit for any TRIP bond issued by or for the benefit of a state infrastructure bank as part of an issue, if 100% of the available project proceeds from such issue are to be used for expenditures incurred for one or more qualified projects. Requires proceeds from the sale of bonds issued under this Act to be held in a TRIP Bonds Trust Account (including one or more subaccounts).
Defines "qualified project" as a capital transportation infrastructure project (including roads, bridges, rail and transit systems, ports, and inland waterways) proposed and approved by a state infrastructure bank, as well as any flood damage risk reduction project with a completed Report of the Chief of Engineers of the Army Corps of Engineers.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line