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United States · Bill · HR

H.R. 3630 (103rd)

Public Finance and Infrastructure Investment Act of 1993

openUnited States· United States Congress· EN

Introduced

22 November 1993

Last action

24 November 1993 · Introduced

Status

Sponsor introductory remarks on measure. (CR E3046-3047)

Sponsors

Rep. Coyne, William J. [D-PA-14], Sen. Cardin, Benjamin L. [D-MD], Rep. Lewis, John [D-GA-5], Rep. Neal, Richard E. [D-MA-1], Rep. Hoagland, Peter [D-NE-2], Rep. Kopetski, Mike [D-OR-5], Rep. Jefferson, William J. [D-LA-2], Rep. Brewster, Bill K. [D-OK-3], Rep. Shaw, E. Clay, Jr. [R-FL-22], Rep. Sundquist, Don [R-TN-7], Rep. Gejdenson, Sam [D-CT-2], Rep. Bishop, Sanford D. [D-GA-2], Rep. Foglietta, Thomas M. [D-PA-1], Rep. Dornan, Robert K. [R-CA-46], Rep. Reynolds, Mel [D-IL-2], Rep. Rangel, Charles B. [D-NY-15], Rep. Matsui, Robert T. [D-CA-5], Rep. Kennelly, Barbara B. [D-CT-1], Rep. Grandy, Fred [R-IA-6], Rep. Clinger, William F., Jr. [R-PA-5], Rep. Frost, Martin [D-TX-24], Rep. Andrews, Michael [D-TX-25], Rep. LaFalce, John J. [D-NY-29], Rep. McDermott, Jim [D-WA-7], Rep. Ford, Harold E. [D-TN-9], Rep. Jacobs, Andrew, Jr. [D-IN-10], Rep. Johnson, Nancy L. [R-CT-5], Rep. McKinney, Cynthia A. [D-GA-4], Rep. Borski, Robert A. [D-PA-3], Rep. Frank, Barney [D-MA-4], Rep. Darden, George (Buddy) [D-GA-7], Rep. Gunderson, Steve [R-WI-3], Rep. Thompson, Bennie G. [D-MS-2], Rep. Furse, Elizabeth [D-OR-1], Rep. Vento, Bruce F. [D-MN-4], Rep. Rahall, Nick J., II [D-WV-3], Rep. Wise, Robert E., Jr. [D-WV-2], Rep. Hughes, William J. [D-NJ-2], Rep. Hilliard, Earl F. [D-AL-7], Rep. Diaz-Balart, Lincoln [R-FL-21], Rep. Weldon, Curt [R-PA-7], Rep. Evans, Lane [D-IL-17]

Subjects

Transport, Taxation

Source updated

26 August 2025

Transport · Taxation

Official sourceDownload fileView documentsShare

Summary

Public Finance and Infrastructure Investment Act of 1993 - Amends the Internal Revenue Code with respect to private activity bonds to repeal: (1) the disproportionate private business use test; and (2) the lower private business test for certain output facilities. Increases the private loan financing test for such bonds. Increases the annual issuance limit for small issuers whose governmental bonds are not subject to rebate. Repeals the $100,000 limitation on unspent proceeds under the one-year exception from arbitrage rebate requirements. Repeals the debt service-based limitation on investment in certain nonpurpose investments. Exempts the following bonds from the arbitrage rebate requirements under specified circumstances: (1) tax-exempt bonds; (2) bonds which are not private activity bonds; and (3) private activity bonds issued to finance property to be owned by a governmental unit or a tax-exempt organization. Increases the amount of tax-exempt obligations excepted from the pro rata allocation of interest expense of financial institutions to tax-exempt interest for qualified small issuers. Lowers the State ceiling on the volume cap for private activity bonds and provides an inflation adjustment. Provides a tax-exemption for distressed community economic development bonds. Excepts 50 percent of such bonds from the volume cap. Allows a deduction for such bonds as qualified tax-exempt obligations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 22 November 1993

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 22 November 1993

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 22 November 1993

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 24 November 1993

    Introduced

    Sponsor introductory remarks on measure. (CR E3046-3047)

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 22 November 1993

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  • Introduced in House (PDF)

    Introduced in House · EN · 22 November 1993

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  • Introduced in House

    summary · EN · 22 November 1993

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Sponsors

Related records

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Sources

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