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A bill to amend the Internal Revenue Code of 1986 to establish a tax credit for Qualified Community College Bonds, and for other purposes.
9/26/2024, 10:56 AM
Summary of Bill S 5187
Bill 118 s 5187, also known as the "Qualified Community College Bonds Act," aims to make amendments to the Internal Revenue Code of 1986 in order to create a tax credit for Qualified Community College Bonds. This bill is designed to provide financial support to community colleges across the United States.
The tax credit established by this bill would incentivize investors to purchase Qualified Community College Bonds, which would in turn provide community colleges with much-needed funding for various purposes. This funding could be used for infrastructure improvements, program expansions, or other initiatives that would benefit students and the community as a whole.
In addition to establishing the tax credit, Bill 118 s 5187 also includes provisions for other purposes related to community colleges. These additional purposes could include regulations for how the funds are allocated, reporting requirements for colleges receiving funding, or other measures to ensure that the money is being used effectively and efficiently. Overall, this bill seeks to support community colleges by providing them with a new source of funding through the creation of a tax credit for Qualified Community College Bonds. By doing so, it aims to improve the quality of education and opportunities available to students at these institutions.
The tax credit established by this bill would incentivize investors to purchase Qualified Community College Bonds, which would in turn provide community colleges with much-needed funding for various purposes. This funding could be used for infrastructure improvements, program expansions, or other initiatives that would benefit students and the community as a whole.
In addition to establishing the tax credit, Bill 118 s 5187 also includes provisions for other purposes related to community colleges. These additional purposes could include regulations for how the funds are allocated, reporting requirements for colleges receiving funding, or other measures to ensure that the money is being used effectively and efficiently. Overall, this bill seeks to support community colleges by providing them with a new source of funding through the creation of a tax credit for Qualified Community College Bonds. By doing so, it aims to improve the quality of education and opportunities available to students at these institutions.
Current Status of Bill S 5187
Bill S 5187 is currently in the status of Bill Introduced since September 25, 2024. Bill S 5187 was introduced during Congress 118 and was introduced to the Senate on September 25, 2024. Bill S 5187's most recent activity was Read twice and referred to the Committee on Finance. as of September 25, 2024
Bipartisan Support of Bill S 5187
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 5187
Primary Policy Focus
Alternate Title(s) of Bill S 5187
A bill to amend the Internal Revenue Code of 1986 to establish a tax credit for Qualified Community College Bonds, and for other purposes.
A bill to amend the Internal Revenue Code of 1986 to establish a tax credit for Qualified Community College Bonds, and for other purposes.
Comments
Sponsors and Cosponsors of S 5187
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