H.R. 2440
119th CONGRESS 1st Session
To amend the Internal Revenue Code of 1986 to provide for school infrastructure finance and innovation tax credit bonds.
IN THE HOUSE OF REPRESENTATIVES · March 27, 2025 · Sponsor: Mr. Hudson · Committee: Committee on Ways and Means
Table of contents
SEC. 1. Short title
This Act may be cited as the or the "School Infrastructure Finance and Innovation Act" or "SIFIA Act".
SEC. 2. SIFIA bonds
(a) In general
Part IV of subchapter A of chapter 1 is amended by adding at the end the following new subpart:
.
(b) Treatment of interest as unrelated business taxable income
Section 512(b)(1) of such Code is amended by inserting after .
(c) Clerical amendments
The table of subparts for part IV of subchapter A of chapter 1 is amended by adding at the end the following:
.
(d) Direct purchases of SIFIA bonds
The Secretary shall purchase SIFIA bonds that the issuer is otherwise unable to sell, subject to procedures and credit standards to be established by the Secretary, which standards and procedures shall be similar to those applicable to loans made under lines of credit under section 1503 of the Transportation Infrastructure Finance and Innovation Act of 1998 (23 U.S.C. 184).
(e) Effective date
The amendments made by this section shall apply to obligations issued after December 31, 2025.