Expand and Rebuild America's Schools Act of 2007

Summary

Expand and Rebuild America's Schools Act of 2007 - Amends the Internal Revenue Code to allow a nonrefundable tax credit to holders of school construction bonds. Sets forth requirements for issues of school construction bonds, including that: (1) 95% of the proceeds of such bonds must be used to construct new elementary and secondary school facilities and provide equipment for such schools; (2) local education agencies must require private business contributions of not less than 10% of the proceeds of an issue; and (3) bonds must be used for schools which meet specified criteria relating to curriculum, the alleviation of classroom overcrowding, and student-teacher ratios. Provides for a national school construction bond limitation of $400 million in 2008 and 2009.

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Timeline

1. 16 April 2007

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 16 April 2007

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 April 2007

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 16 April 2007 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 April 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 16 April 2007

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 April 2007

  Open at official source

Sponsors

• Rep. Sanchez, Loretta [D-CA-46] · D · Sponsor
• Rep. Paul, Ron [R-TX-22] · R · Cosponsor
• · hswm00 · Standing

Related records

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