SIFIA Act

Support for School Infrastructure: The bill allows for the financing of design, construction, expansion, renovation, furnishing, or equipping of qualified school facilities (Section 2(e)(1)(A)).

Energy Efficiency Goals: The bill incentivizes the creation of buildings that are reasonably expected to be net-sero energy buildings (Section 2(e)(1)(B)).

Benefits for Rural Areas: A specific $1,000,000,000 set-aside is designated for projects located in rural areas (Section 2(e)(3)(C)(i)).

Support for Small and Diverse Businesses: The Secretary is directed to give preference in allocations to projects where the private developer is a "preferred concern," which includes small business concerns, minority-owned concerns, or woman-owned concerns (Section 2(e)(3)(D) and Section 2(e)(7)).

Tax Credits for Investors: Taxpayers holding SIFIA bonds are allowed a tax credit against the tax imposed by the chapter (Section 2(a)).

Requirements for Private Entities: Private, for-profit entities must meet specific experience requirements, such as having experience developing, owning, and operating public schools that are net-zero buildings (Section 2(e)(5)(A)).

Strict Expenditure Deadations: Issuers must reasonably expect to spend 100 percent of the available project proceeds within a 6-year period; failure to do so requires the redemption of nonqualified bonds (Section 2(e)(2)).

Limitations on Funding for Nonprofits: There is a cap of $500,000,000 in aggregate face amount for school facilities operated by a nonprofit organization under a charter or other agreement (Section 2(e)(4)(B)).

Strict Allocation Limits for School Districts: No single school district can be allocated more than $1,500,000,000 in aggregate face amount of SIFIA bonds (Section 2(e)(4)(A)).