Sec. 601. Leveraging Infrastructure Trust Account with infrastructure revenue bonds
237 words·~1 min read·
/bill/113/hr/2784/ih/section-601·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subchapter I of chapter 31 of subtitle III of title 31, United States Code, is amended by inserting after section 3102 the following new section: With the approval of the President, the Secretary of the Treasury may borrow for highway and transportation project expenditures, and water infrastructure expenditures, authorized by law after the date of the enactment of this section and may issue interest-bearing bonds for the amounts borrowed and may buy, redeem, and make refunds under section 3111 of this title.
The Secretary may prescribe conditions under section 3121 of this title, except that such bonds shall mature 20 years from the date of issue. Such obligations, and the interest thereon, are not guaranteed by the United States and shall be paid solely from amounts deposited in the Infrastructure Trust Account established by paragraph (6)(A)(ii) of section 8(g) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(g)). The aggregate face amount of obligations issued during a calendar year under subsection
(a)shall not exceed— $25,000,000,000 for each of calendar years 2014 through 2019; and $0 for each calendar year thereafter. The Government may redeem any part of a series of bonds before maturity by giving at least 4 months’ notice. . The table of sections subchapter I of chapter 31 of subtitle III of title 31, United States Code, is amended by inserting after section 3102 the following new item: 3102A. Infrastructure revenue bonds. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 601
Leveraging Infrastructure Trust Account with infrastructure revenue bonds
Cites 1Cited by 0 across 0 sources