Local Government Infrastructure Financing Improvement Act of 1987

Summary

Local Government Infrastructure Financing Improvement Act of 1987 - Amends the Public Works and Economic Development Act of 1965 to direct the Secretary of Commerce to provide local governments technical assistance with respect to financing construction, repair, and expansion of public works facilities, including provision of information necessary to familiarize local governments about the use and availability of tax-exempt public works facility bonds for such financing. Requires the Secretary to report biennially to specified congressional committees on local government public works financing practices. Amends the Internal Revenue Code to: (1) raise from $5,000,000 to $25,000,000 the threshold amount of tax-exempt bonds that a small governmental unit may issue and still remain within the exception from arbitrage rebate requirements; and (2) increase from ten percent to 25 percent the amount of tax-exempt government bond proceeds that may be used by a nongovernmental entity for private purposes without triggering treatment of the bond issue as a taxable private activity bond. Limits the latter provision to governmental issuers whose reasonably anticipated amount of tax-exempt obligations to be issued during the calendar year is $25,000,000 or less. Caps at $25,000,000 the amount of bonds to which the issuer may apply the 25 percent private use test in any year.

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Timeline

1. 18 December 1987

   Introduced

   Referred to House Committee on Public Works and Transportation.

   Source: IntroReferral

2. 18 December 1987

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 December 1987

   Introduced

   Introduced in House

   Source: IntroReferral

4. 31 December 1987

   Referred

   Referred to Subcommittee on Economic Development.

   Source: Committee

5. 31 December 1987

   Committee

   Executive Comment Requested from OMB, Commerce.

   Source: Committee

6. 10 August 1988

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 27 September 1988

   Reported

   Ordered to be Reported.

   Source: Committee

8. 27 September 1988

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

9. 27 September 1988

   Committee

   Subcommittee on Economic Development Discharged.

   Source: Committee

10. 6 October 1988

    Reported

    Reported to House by House Committee on Public Works and Transportation. Report No: 100-1066 (Part I).

    Source: Committee

11. 6 October 1988

    Reported

    Reported to House by House Committee on Public Works and Transportation. Report No: 100-1066 (Part I).

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 18 December 1987

  Open at official source

Sponsors

• Rep. Howard, James J. [D-NJ-3] · D · Sponsor
• Rep. Hammerschmidt, John P. [R-AR-3] · R · Sponsor
• Rep. Oberstar, James L. [D-MN-8] · D · Sponsor
• Rep. Clinger, William F., Jr. [R-PA-5] · R · Sponsor
• Rep. Anderson, Glenn M. [D-CA-32] · D · Sponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Sponsor
• Rep. Mineta, Norman Y. [D-CA-15] · D · Sponsor
• Rep. Nowak, Henry [D-NY-33] · D · Sponsor
• Rep. Rahall, Nick J., II [D-WV-3] · D · Sponsor
• Del. de Lugo, Ron [D-VI-At Large] · D · Sponsor
• Rep. Savage, Gus [D-IL-2] · D · Sponsor
• Del. Sunia, Foto I. F. [D-AS-At Large] · D · Sponsor
• Rep. Valentine, Tim [D-NC-2] · D · Sponsor
• Rep. Towns, Edolphus [D-NY-10] · D · Sponsor
• Rep. Lipinski, William O. [D-IL-3] · D · Sponsor
• Rep. Rowland, J. Roy [D-GA-8] · D · Sponsor
• Rep. Gray, Kenneth J. [D-IL-22] · D · Sponsor
• Rep. Visclosky, Peter J. [D-IN-1] · D · Sponsor
• Rep. Lancaster, H. Martin [D-NC-3] · D · Sponsor
• Rep. Slaughter, Louise McIntosh [D-NY-25] · D · Sponsor
• Rep. Lewis, John [D-GA-5] · D · Sponsor
• Rep. DeFazio, Peter A. [D-OR-4] · D · Sponsor
• Rep. Perkins, Carl C. [D-KY-7] · D · Sponsor
• Rep. Shuster, Bud [R-PA-9] · R · Sponsor
• Rep. Stangeland, Arlan [R-MN-7] · R · Sponsor
• Rep. Molinari, Guy [R-NY-14] · R · Sponsor
• Rep. Shaw, E. Clay, Jr. [R-FL-22] · R · Sponsor
• Rep. McEwen, Bob [R-OH-6] · R · Sponsor
• Rep. Sundquist, Don [R-TN-7] · R · Sponsor
• Rep. Packard, Ron [R-CA-48] · R · Sponsor
• Rep. Gallo, Dean A. [R-NJ-11] · R · Sponsor
• Rep. Bentley, Helen Delich [R-MD-2] · R · Sponsor
• Rep. Lightfoot, Jim [R-IA-3] · R · Sponsor
• Sen. Inhofe, James M. [R-OK] · R · Sponsor
• Rep. Upton, Fred [R-MI-6] · R · Sponsor
• Rep. Grant, Bill [R-FL-2] · D · Cosponsor
• Rep. Hayes, James A. [D-LA-7] · D · Cosponsor
• Rep. Penny, Timothy J. [D-MN-1] · D · Cosponsor
• Rep. Hastert, J. Dennis [R-IL-14] · R · Cosponsor
• Rep. Horton, Frank J. [R-NY-29] · R · Cosponsor
• Rep. Volkmer, Harold L. [D-MO-9] · D · Cosponsor
• Rep. Chapman, Jim [D-TX-1] · D · Cosponsor
• Rep. Kleczka, Gerald D. [D-WI-4] · D · Cosponsor
• · hspw00 · Standing
• · hswm00 · Standing

Related records

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