S. 1523Senate113th Congress (2013-2015)In Committee

Rebuilding America's Schools Act

Introduced September 18, 2013

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

September 18, 2013

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SenateIntro Referral

Introduced in Senate

September 18, 2013

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S6600)

September 18, 2013

SenateIntro Referral

Read twice and referred to the Committee on Finance.

September 18, 2013

Floor Debate

3 members

What members said about S. 1523 on the floor

2 Republicans1 Democrat
Orrin G. Hatch
Sen. Orrin G. HatchR-UT · Sep 18, 2013

Mr. President, there is an epidemic of abuse that is taking place in America today. Recent reports estimate that hundreds of thousands of children and youths are at risk of domestic sex trafficking.…

Lisa Murkowski
Sen. Lisa MurkowskiR-AK · Sep 18, 2013

Mr. President, I rise to discuss the Responsible Seafood Certification and Labeling Act which I am introducing today. This bill addresses an issue of great importance to fishermen, seafood producers…

John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · Sep 18, 2013

Mr. President, today I am proud to partner with Senator Sherrod Brown to introduce the Rebuilding America's Schools Act. This legislation would provide a permanent path forward so our Nation's…

John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · Sep 18, 2013

Mr. President, today I am proud to partner with Senator Sherrod Brown to introduce the Rebuilding America's Schools Act. This legislation would provide a permanent path forward so our Nation's…

Bill Text

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Introduced in SenateIssued September 18, 2013

II

113th CONGRESS

1st Session

S. 1523

IN THE SENATE OF THE UNITED STATES

September 18, 2013

Mr. Rockefeller (for himself, Mr. Brown, Mr. Harkin, and Mr. Johnson of South Dakota) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code to make permanent qualified school construction bonds and qualified zone academy bonds, to treat qualified zone academy bonds as specified tax credit bonds, and to modify the private business contribution requirement for qualified zone academy bonds.

1.

Short title

This Act may be cited as the Rebuilding America’s Schools Act.

2.

Qualified school construction bonds

(a)

In general

Subsection (c) of section 54F of the Internal Revenue Code of 1986 is amended to read as follows:

(c)

National limitation on amount of bonds designated

There is a national qualified school construction bond limitation for each calendar year after 2013 in the amount of $11,000,000,000.

.

(b)

Effective date

The amendment made by this section shall apply to obligations issued after December 31, 2013.

3.

Modifications relating to qualified zone academy bonds

(a)

Limitation made permanent

Paragraph (1) of section 54E(c) of the Internal Revenue Code of 1986 is amended to read as follows:

(1)

National limitation

There is a national zone academy bond limitation for each calendar year after 2013 in the amount of $1,400,000,000.

.

(b)

Modification of private business contribution requirement

Subsection (b) of section 54E of such Code is amended—

(1)

by striking if the eligible local education agency and inserting

if—

(1)

the eligible local education agency

, and

(2)

by striking the period at the end and inserting

, or

(2)

the issue will be pooled with other such issues through the acquisition by, or the sponsorship or assistance of, a private, nonprofit corporation established in the District of Columbia and specifically recognized by Congress for the purpose of leveraging resources and stimulating private investment in education technology infrastructure.

.

(c)

Direct payment option

Clause (iii) of section 6431(f)(3)(A) of such Code is amended by striking 54E) and all that follows and inserting 54E), or.

(d)

Effective date

The amendments made by this section shall apply to obligations issued after December 31, 2013.