Title: To amend the Internal Revenue Code of 1986 to expand the incentives for the construction and renovation of public schools.
Sponsor: Rep Rangel, Charles B. [2] [D-NY-15] (introduced 5/24/2007) Cosponsors (174)
Related Bills: S.912 [3]
Latest Major Action: 7/24/2007 Referred to House subcommittee. Status: Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.
Highlights: Amends the Internal Revenue Code to allow a tax credit for investment in qualified public school modernization bonds, defined to include: (1) bonds for the construction, rehabilitation, or repair of a public school facility or for the acquisition of land for such facility (qualified school construction bonds); and (2) bonds to finance certain academic programs below the postsecondary level in empowerment zones or enterprise communities (qualified zone academy bonds). Establishes a national limitation on the issuance of such bonds and provides for the allocation of bond amounts among the states according to a specified formula. Terminates the authority for issuance of such bonds after 2009.
ASPIRA Policy Position
ASPIRA supports school construction and modernization efforts.
Links:
[1] http://www.aspira.org/en/user/login?destination=comment/reply/334%23comment-form
[2] http://thomas.loc.gov/cgi-bin/bdquery/?&Db=d110&querybd=@FIELD%28FLD003+@4%28%28@1%28Rep+Rangel++Charles+B.%29%29+00944%29%29
[3] http://thomas.loc.gov/cgi-bin/bdquery/z?d110:SN00912:%7C/bss/110search.html%7C