H.R. 535House113th Congress (2013-2015)In Committee

Put America Back to Work Act

Introduced February 6, 2013

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

February 6, 2013

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HouseIntro Referral

Introduced in House

February 6, 2013

HouseIntro Referral

Referred to the House Committee on Ways and Means.

February 6, 2013

Floor Debate

12 members

What members said about H.R. 535 on the floor

3 Republicans9 Democrats
Michael C. Burgess
Rep. Michael C. BurgessR-TX-26 · Apr 24, 2013

Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 175 and ask for its immediate consideration. Mr. Speaker, I ask unanimous consent that all Members have 5 legislative…

Jared Polis
Rep. Jared PolisD-CO-2 · Mar 5, 2014

Mr. Speaker, I yield myself such time as I may consume. Well, I want to come to the floor to wish the Republicans a happy anniversary. I brought a gold ring. This is the 50th repeal of ObamaCare. I…

Michael C. Burgess
Rep. Michael C. BurgessR-TX-26 · Mar 5, 2014

Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 497 and ask for its immediate consideration. Mr. Speaker, for the purpose of debate only, I yield the customary 30…

Louise McIntosh Slaughter
Rep. Louise McIntosh SlaughterD-NY-25 · Apr 24, 2013

I thank the gentleman for yielding me the customary 30 minutes, and I yield myself such time as I may consume. We begin this week the way we've begun every week since January: spinning our wheels. As…

Louise McIntosh Slaughter
Rep. Louise McIntosh SlaughterD-NY-25 · Mar 5, 2014

Mr. Speaker, I thank my friend from Texas for yielding me the customary 30 minutes, and I yield myself such time as I may consume. Mr. Speaker, this is just not an ordinary day, this is a very…

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Steny H. Hoyer
Rep. Steny H. HoyerD-MD-5 · Apr 24, 2013

I thank the gentlelady, the ranking member of the Rules Committee, for yielding. I rise in opposition to the underlying bill and in opposition to this rule and for a ``no'' vote on the previous…

Gerald E. Connolly
Rep. Gerald E. ConnollyD-VA-11 · Apr 24, 2013

I thank my dear friend from New York, the ranking member of the Rules Committee. Madam Speaker, I urge my colleague to oppose the previous question so we can bring up a proven jobs bill for…

Mark Takano
Rep. Mark TakanoD-CA-41 · Apr 24, 2013

I thank the gentlelady from New York for yielding. Madam Speaker, I rise in opposition to the previous question. When I came to the Congress 4 months ago, I didn't really anticipate that we would be…

Doris O. Matsui
Rep. Doris O. MatsuiD-CA-6 · Apr 24, 2013

I thank the gentlelady for yielding me time. Madam Speaker, I rise in strong support of defeating the previous question. Putting people back to work is our number one priority. Mr. Connolly's bill,…

Steven Horsford
Rep. Steven HorsfordD-NV-4 · Apr 24, 2013

I thank the ranking member for your hard work on these issues, and I stand before this House to ask that all Members reject this rule. I had an amendment, which was not approved, which is germane to…

Janice Hahn
Rep. Janice HahnD-CA-44 · Apr 24, 2013

Madam Speaker, I rise in support of defeating the previous question so that the House may bring up Representative Connolly's Put America Back to Work Act as part of the Make It In America legislative…

Keith J. Rothfus
Rep. Keith J. RothfusR-PA-12 · Apr 24, 2013

I rise today in support of the rule, H.R. 1549, the Helping Sick Americans Now Act, and the Pitts amendment. President Obama's health care law is a train wreck. We learn more every day about its…

James A. Himes
Rep. James A. HimesD-CT-4 · Mar 5, 2014

Mr. Speaker, had I been present for the vote on the Previous Question, rollcall vote 93, I would have voted ``no.'' Mr. Speaker, had I been present for the vote Agreeing to the Resolution, rollcall…

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Ann Wagner
Rep. Ann WagnerR-MO-2 · Mar 5, 2014

Mr. Speaker, on rollcall No. 93 I was unavoidably detained. Had I been present, I would have voted ``yes.'' Stated against:

Bill Text

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Introduced in HouseIssued February 6, 2013

I

113th CONGRESS

1st Session

H. R. 535

IN THE HOUSE OF REPRESENTATIVES

February 6, 2013

Mr. Connolly 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 permanently extend the Build America Bonds program.

1.

Short title

This Act may be cited as the Put America Back to Work Act.

2.

Permanent Extension of Build America Bonds

(a)

In general

Subparagraph (B) of section 54AA(d)(1) of the Internal Revenue Code of 1986 is amended by inserting or after the date of the enactment of the Put America Back to Work Act, after January 1, 2011,.

(b)

Reduction in Bond Holder Credit Percentage

Subsection (b) of 54AA of such Code is amended by striking 35 percent and inserting 25 percent (35 percent in the case of bonds issued before January 1, 2011).

(c)

Payments to issuers

(1)

In general

Section 6431 of such Code is amended—

(A)

by striking issued before January 1, 2011, in subsection (a), and

(B)

by striking before January 1, 2011 in subsection (f)(1)(B) and inserting during a particular period.

(2)

Conforming amendments

Subsection (g) of section 54AA of such Code is amended—

(A)

by striking before January 1, 2011 in the matter preceding paragraph (1), and

(B)

by striking qualified bonds issued before 2011 in the heading and inserting certain qualified bonds.

(d)

Reduction in percentage of payments to issuers

Subsection (b) of section 6431 of such Code is amended by striking 35 percent and inserting 28 percent (35 percent in the case of bonds issued before January 1, 2011).

(e)

Current refundings permitted

Subsection (g) of section 54AA of such Code is amended by adding at the end the following new paragraph:

(3)

Treatment of current refunding bonds

(A)

In general

For purposes of this subsection, the term qualified bond includes any bond (or series of bonds) issued to refund a qualified bond if—

(i)

the average maturity date of the issue of which the refunding bond is a part is not later than the average maturity date of the bonds to be refunded by such issue,

(ii)

the amount of the refunding bond does not exceed the outstanding amount of the refunded bond, and

(iii)

the refunded bond is redeemed not later than 90 days after the date of the issuance of the refunding bond.

(B)

Applicable percentage

In the case of a refunding bond referred to in subparagraph (A), the applicable percentage with respect to such bond under section 6431(b) shall be the lowest percentage specified in paragraph (2) of such section.

(C)

Determination of average maturity

For purposes of subparagraph (A)(i), average maturity shall be determined in accordance with section 147(b)(2)(A).

.

(f)

Additional purposes

Subsection (g) of section 54AA of such Code, as amended by subsection (e), is amended by adding at the end the following new paragraphs:

(4)

Working capital financings

For purposes of this subsection, the term qualified bond includes any bond (or series of bonds) that is reasonably expected to be used for the issuer’s operating expenses as long as the issue is limited to a maturity of 13 months or less.

(5)

Qualified 501(c)(3) bond

For purposes of this subsection, the term qualified bond includes any bond (or series of bonds) that is a qualified 501(c)(3) bond (as defined in section 145).

.

(g)

Clarification related to levees and flood control projects

Subparagraph (A) of section 54AA(g)(2) of such Code is amended by inserting (including capital expenditures for levees and other flood control projects) after capital expenditures.

(h)

Effective date

The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act.