Like Countable?

Install the App
TRY NOW

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedSeptember 22nd, 2010

Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.

Suggest an update to this bill using our form.

Title

American Infrastructure Investment Act of 2010

Official Title

To amend the Internal Revenue Code of 1986 to encourage investments in infrastructure, and for other purposes.

Summary

American Infrastructure Investment Act of 2010 - Amends the Internal Revenue Code to extend until January 1, 2013, the period for issuing Build America Bonds and for credits allowable to issuers of such bonds. Allows funding through such bonds for capital expenditures for levees and flood control projects. Exempts private activity bonds for sewage and water supply facilities from the state volume caps applicable to such bonds. Allows Indian tribal governments to issue tax-exempt private activity bonds to provide water or sewage facilities. Extends through 2011 the exemption from alternative minimum tax (AMT) treatment of interest on certain tax-exempt bonds. Extends through 2011 the period for issuing recovery zone economic development bonds and recovery zone facility bonds. Requires the Secretary of the Treasury to allocate 2010 national limitations on recovery bonds based upon state unemployment statistics. Allows a full offset against the AMT for new market tax credit amounts. Extends through 2011: (1) the tax exemption allowed for interest on bonds guaranteed by a federal home loan bank; and (2) small issuer rules for the allocation of tax-exempt interest expense by financial institutions.

    There are currently no opinions on this bill, be the first to add one!