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   &lt;pre&gt;[Congressional Record Volume 167, Number 66 (Friday, April 16, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Ms. SEWELL:H.R. 2634.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1 of the U.S. Constitution[Page H1891]&lt;/pre&gt;
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     &lt;p&gt;&lt;strong&gt;Local Infrastructure Financing Tools Act or the LIFT Act&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;This bill allows the issuer of an American Infrastructure Bond a credit with respect to each interest payment under such bond. &lt;/p&gt; &lt;p&gt;The bill restores advance refundings of bonds to allow states and localities to refinance existing debt. &lt;/p&gt; &lt;p&gt;The bill increases to $30 million the limitation on bank-qualified debt for small municipal and nonprofit issuers.&lt;/p&gt;
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     To amend the Internal Revenue Code of 1986 to provide a credit for American infrastructure bonds, and for other purposes.
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H11100
2021-04-16
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
Intro-H
2021-04-16
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-04-16
9
Library of Congress
Introduced in House
IntroReferral
2021-04-16T13:03:20Z
Referred to
House
Ways and Means Committee
hswm00
Standing
T000469
20
Paul
Rep. Tonko, Paul [D-NY-20]
Tonko
D
2021-10-08
NY
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-04-16
2021-04-16
Referred to the House Committee on Ways and Means.
House
Taxation
2021-03-29
Referred to the House Committee on Ways and Means.
CRS
Related bill
Investing in Our Communities Act
HR
2022-08-16
Became Public Law No: 117-169.
CRS
Related bill
Inflation Reduction Act of 2022
HR
S001185
7
Terri
Rep. Sewell, Terri A. [D-AL-7]
N
Sewell
A.
D
AL
Income tax exclusion Infrastructure development Interest, dividends, interest rates Securities State and local finance
2021-04-16
Introduced in House
 <p><strong>Local Infrastructure Financing Tools Act or the LIFT Act</strong></p> <p>This bill allows the issuer of an American Infrastructure Bond a credit with respect to each interest payment under such bond. </p> <p>The bill restores advance refundings of bonds to allow states and localities to refinance existing debt. </p> <p>The bill increases to $30 million the limitation on bank-qualified debt for small municipal and nonprofit issuers.</p>
2021-09-28T21:08:36Z
00
2021-04-16T04:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr2634ih/xml/BILLS-117hr2634ih.xml
LIFT Act
LIFT Act
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to provide a credit for American infrastructure bonds, and for other purposes.
Official Title as Introduced
IH
Introduced in House
LIFT Act
Short Title(s) as Introduced
IH
Introduced in House
Local Infrastructure Financing Tools Act
Short Title(s) as Introduced
HR
2023-01-11T13:48:43Z
2023-01-11T13:48:43Z
3.0.0
2021-03-29
Referred to the House Committee on Ways and Means.
CRS
Related bill
Investing in Our Communities Act
HR
2022-08-16
Became Public Law No: 117-169.
CRS
Related bill
Inflation Reduction Act of 2022
HR
H11100
2021-04-16
Ways and Means Committee
hswm00
2
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Referred to the House Committee on Ways and Means.
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2021-04-16
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Introduced in House
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2021-04-16
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Library of Congress
Introduced in House
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S001185
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Terri
Rep. Sewell, Terri A. [D-AL-7]
N
Sewell
A.
D
AL
T000469
20
Paul
Rep. Tonko, Paul [D-NY-20]
Tonko
D
2021-10-08
NY
Income tax exclusion Infrastructure development Interest, dividends, interest rates Securities State and local finance
2021-04-16
Introduced in House
 <p><strong>Local Infrastructure Financing Tools Act or the LIFT Act</strong></p> <p>This bill allows the issuer of an American Infrastructure Bond a credit with respect to each interest payment under such bond. </p> <p>The bill restores advance refundings of bonds to allow states and localities to refinance existing debt. </p> <p>The bill increases to $30 million the limitation on bank-qualified debt for small municipal and nonprofit issuers.</p>
2021-09-28T21:08:36Z
00
LIFT Act
LIFT Act
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to provide a credit for American infrastructure bonds, and for other purposes.
Official Title as Introduced
IH
Introduced in House
LIFT Act
Short Title(s) as Introduced
IH
Introduced in House
Local Infrastructure Financing Tools Act
Short Title(s) as Introduced
2021-04-16
Referred to the House Committee on Ways and Means.