SIFIA Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2440 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 2440 To amend the Internal Revenue Code of 1986 to provide for school infrastructure finance and innovation tax credit bonds. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 27, 2025 Mr. Hudson (for himself and Ms. Sewell) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide for school infrastructure finance and innovation tax credit bonds. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``School Infrastructure Finance and Innovation Act'' or the ``SIFIA Act''. SEC. 2. SIFIA BONDS. (a) In General.--Part IV of subchapter A of chapter 1 is amended by adding at the end the following new subpart: ``Subpart K--SIFIA Bonds ``Sec. 54BB. SIFIA bonds. ``SEC. 54BB. SIFIA BONDS. ``(a) In General.--If a taxpayer holds a SIFIA bond on one or more credit allowance dates of the bond during any taxable year, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of the credits determined under subsection (b) with respect to such dates. ``(b) Amount of Credit.-- ``(1) In general.--The amount of the credit determined under this subsection with respect to any credit allowance date for a SIFIA bond is 25 percent of the annual credit determined for such bond. ``(2) Annual credit.--For purposes of this subsection, the term `annual credit' means an amount equal to the product of-- ``(A) the applicable credit rate, multiplied by ``(B) the face amount of the bond. ``(3) Applicable credit rate.--For purposes of paragraph (2), the te