Local Infrastructure Financing Tools Act or the LIFT Act This bill allows the issuer of an American Infrastructure Bond a credit with respect to each interest payment under such bond. The bill restores advance refundings of bonds to allow states and localities to refinance existing debt. The bill increases to $30 million the limitation on bank-qualified debt for small municipal and nonprofit issuers.
Income tax exclusionInfrastructure developmentInterest, dividends, interest ratesSecuritiesState and local finance
LIFT Act
USA117th CongressHR-2634| House
| Updated: 4/16/2021
Local Infrastructure Financing Tools Act or the LIFT Act This bill allows the issuer of an American Infrastructure Bond a credit with respect to each interest payment under such bond. The bill restores advance refundings of bonds to allow states and localities to refinance existing debt. The bill increases to $30 million the limitation on bank-qualified debt for small municipal and nonprofit issuers.