The Community College Infrastructure Financing Act would create a new tax credit program to help finance infrastructure projects at community colleges across the country. The bill authorizes $1 billion in annual federal tax credits for qualified community college bonds issued by states, local governments, and tribal authorities, with no single state receiving more than 10 percent of the annual allocation. These funds can be used for constructing or renovating college facilities, purchasing equipment, expanding broadband access, providing childcare and affordable housing on campuses, and improving student transportation options. The legislation prioritizes funding for community colleges serving areas without existing two-year institutions and gives preference to colleges partnering with high schools, four-year universities, workforce development programs, and minority-serving institutions, as well as those using green building standards. All construction projects funded through these bonds must comply with prevailing wage requirements to ensure workers are paid fair wages for their labor.
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