This bill — known as the BUILD Act — would aim to facilitate investment in transportation infrastructure projects by letting state and local governments enter into public-private partnerships to help finance them. It would increase the amount of tax-exempt Private Activity Bonds (PABs) that could be issued on behalf of state and local governments for highway and freight improvement projects by $5.8 billion. That would put the total amount of PABs that can be approved by the U.S. Dept. of Transportation (USDOT) at $20.8 billion, as less than $5 billion in PABs remain available under USDOT’s original authority.
The bill’s full title is the Building United States Infrastructure and Leveraging Development Act.