Bill > S1308

This bill, the American Infrastructure Bonds Act of 2021, amends the Internal Revenue Code to provide a credit to issuers of "American infrastructure bonds," which are defined as certain tax-exempt obligations used to finance public infrastructure projects. The bill allows the Treasury Department to pay the issuers of these bonds 28% of the interest payable on the bonds, making them more attractive to investors. The bill also includes provisions to ensure the interest on these bonds is treated as tax-exempt for state income tax purposes and to adjust the payments to issuers in the event of federal budget sequestration.