S. 2320Senate115th Congress (2017-2019)In Committee

BUILD Act

Introduced January 18, 2018

AI-Generated Summary

Updated April 15, 2026 at 7:57 PM UTC

The BUILD Act amends the Internal Revenue Code to raise the national cap on the amount of qualified highway or surface freight transfer facility bonds. By increasing the limit from $15 billion to $20.8 billion, the bill aims to allow more financing for highway and freight infrastructure projects. The change applies to any such bonds issued after the law takes effect, affecting state and local governments and other issuers of these bonds.

Key Provisions

  • Amends Section 142(m)(2)(A) of the Internal Revenue Code, changing the national limitation amount for qualified highway or surface freight transfer facility bonds from $15 billion to $20.8 billion.
  • The new limit applies to bonds issued after the enactment date of the Act.

Legislative Activity

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1 earlier action
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S301-302)

January 18, 2018

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SenateIntro Referral

Introduced in Senate

January 18, 2018

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S301-302)

January 18, 2018

Floor Debate

2 members

What members said about S. 2320 on the floor

2 Republicans
John Barrasso
Sen. John BarrassoR-WY · Jan 18, 2018

Mr. President, I wish to speak today about legislation I am introducing to spur American energy development on Federal land. This is the Opportunities for the Nation and States to Harness Onshore…

John Cornyn
Sen. John CornynR-TX · Jan 18, 2018

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

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Introduced in SenateIssued January 18, 2018

II

115th CONGRESS

2d Session

S. 2320

IN THE SENATE OF THE UNITED STATES

January 18, 2018

Mr. Cornyn (for himself and Mr. Warner) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to increase the national limitation amount for qualified highway or surface freight transfer facility bonds.

1.

Short title

This Act may be cited as the Building United States Infrastructure and Leveraging Development Act or the BUILD Act.

2.

Increase national limitation amount for qualified highway or surface freight transfer facility bonds

(a)

In general

Section 142(m)(2)(A) of the Internal Revenue Code of 1986 is amended by striking $15,000,000,000 and inserting $20,800,000,000.

(b)

Effective date

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