0
0

LOCAL Infrastructure Act

3/12/2024, 4:46 AM

Summary of Bill S 1453

The LOCAL Infrastructure Act, also known as Bill 118 s 1453, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to provide funding and support for local infrastructure projects across the country.

The bill aims to allocate resources to improve roads, bridges, public transportation, and other essential infrastructure in local communities. It also includes provisions for funding water and sewer systems, as well as broadband internet access in underserved areas.

One key aspect of the LOCAL Infrastructure Act is its focus on promoting job creation and economic growth. By investing in infrastructure projects, the bill aims to create new employment opportunities and stimulate local economies. Additionally, the bill includes measures to streamline the approval process for infrastructure projects, in order to expedite their completion and ensure that communities can benefit from improved infrastructure in a timely manner. Overall, the LOCAL Infrastructure Act is a comprehensive piece of legislation that seeks to address the pressing need for infrastructure improvements in local communities across the United States. It aims to provide funding and support for a wide range of projects, with the ultimate goal of promoting economic growth and improving quality of life for residents.

Congressional Summary of S 1453

Lifting Our Communities through Advance Liquidity for Infrastructure Act or the LOCAL Infrastructure Act

This bill reinstates tax provisions relating to advance refunding bonds. An advance refunding bond is a tax-exempt bond issued by a state or municipality to refinance or consolidate existing bond obligations.

Current Status of Bill S 1453

Bill S 1453 is currently in the status of Bill Introduced since May 4, 2023. Bill S 1453 was introduced during Congress 118 and was introduced to the Senate on May 4, 2023.  Bill S 1453's most recent activity was Read twice and referred to the Committee on Finance. as of May 4, 2023

Bipartisan Support of Bill S 1453

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
36
Democrat Cosponsors
24
Republican Cosponsors
10
Unaffiliated Cosponsors
2

Policy Area and Potential Impact of Bill S 1453

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 1453

LOCAL Infrastructure Act
LOCAL Infrastructure Act
Lifting Our Communities through Advance Liquidity for Infrastructure Act
A bill to amend the Internal Revenue Code of 1986 to reinstate advance refunding bonds.

Comments