LIFT Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8396 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8396 To amend the Internal Revenue Code of 1986 to provide a credit for American infrastructure bonds, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 14, 2024 Ms. Sewell introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide a credit for American infrastructure bonds, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Local Infrastructure Financing Tools Act'', or the ``LIFT Act''. SEC. 2. CREDIT TO ISSUER FOR CERTAIN INFRASTRUCTURE BONDS. (a) In General.--Subchapter B of chapter 65 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 6431A. CREDIT ALLOWED TO ISSUER FOR AMERICAN INFRASTRUCTUR…