H.R. 32 · 118th Congress
Keeping Texas School Construction Costs Down Act of 2023
- Stage
- In committee
- Sponsor
- Lloyd Doggett
- Introduced
- 2023-01-09
- Latest action
- 2023-01-09 · Introduced in House
Summary
Keeping Texas School Construction Costs Down Act of 2023
This bill creates a safe harbor for certain perpetual trust funds. It excludes from the definition of investment property under arbitrage provisions any fund created and controlled by a state and established pursuant to its constitution or state law if on a specified date, substantially all of the assets of the fund consist of nonfinancial assets and the assets are used only to support specifically designated essential governmental functions.