Rebuilding America's Schools Act

Rebuilding America's Schools Act

This bill amends the Internal Revenue Code, with respect to qualified zone academy bonds issued to finance public school facilities, to: (1) extend the national limitation amount for such bonds through calendar year 2014 and then increase such amount and make it permanent after calendar year 2014, (2) expand the enumerated purposes of such bonds to include the construction of public school facilities in a qualified zone academy, (3) lower the private business contribution requirement for such bonds from 10% to 5% of the proceeds of the bond issue, and (4) designate such bonds as specified tax credit bonds.