House Bill to Create Infrastructure Bonds, Tax Credits Re-Introduced
Reps. Earl Blumenauer, D-Ore., and Jackie Walorski, R-Ind., yesterday introduced the Move America Act of 2019 (H.R. 1508) to spur investment in infrastructure improvements through Move America Bonds and Move America Credits. The bill would expand tax-exempt private activity bonds for infrastructure and create a federal infrastructure tax credit to fund infrastructure projects through public-private partnerships. Sens. John Hoeven, R-N.D., and Ron Wyden, D-Ore., introduced the Senate companion bill (S. 146) in January. Previous versions of the Move America Act were introduced in the Senate in 2015 and in the Senate and House in 2017.
The House Ways and Means Committee is holding a hearing today on infrastructure reform and House leadership has tentatively targeted late spring for major infrastructure legislation on the House floor, which could include the Move America Act and other tax credit provisions from the Affordable Housing Credit Improvement Act and the New Markets Tax Credit Extension Act. More information about federal infrastructure tax credit proposals is available on the Novogradac Federal Infrastructure Tax Credit web page.