,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #fbgf  ,,in ,,the ,,house ,,of  
,,representatives  ,june #bh1 #bjah,mr4 
,bishop of ,michigan introduced the     
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to modify the treatment 
of use of public infrastructure property
 for the private business use test for  
private activity bonds1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,strengthening      
,pensions through ,investment in        
,infrastructure ,act4  #b4 ,treatment of
 use of public infrastructure property  
for private business use test for       
private activity bonds  7a7 ,use by     
public pension funds treated as         
government use ,section #ada7;b7 of the 
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new paragraph3  7#aj7 ,use by 
public pension funds not treated as     
private business use  7,a7 ,in general  

,for purposes of this part1 use by a    
public pension fund of public           
infrastructure property shall not be    
treated as private business use4  7,b7  
,definitions ,for purposes of this      
paragraph-- 7i7 ,public pension fund    
,the term public pension fund means a   
pension fund established or maintained  
for employees or former employees of a  
,state1 political subdivision of a      
,state1 or an agency or instrumentality 
thereof4  7ii7 ,public infrastructure   
property ,the term public infrastructure
 property means property with the       
following characteristics3 7,i7         
,consists of roads1 bridges1 tunnels1   
docks1 wharves1 ports1 harbors1         
airports1 rail stations1 mass transit or
 commuting centers1 water infrastructure
 7including sewage1 waste water1 storm  
water1 and solid waste treatment71      
heating1 cooling1 or electric utility   
production1 municipal buildings1 or     
other real or tangible property that is 
used for an essential government        

function 7within the meaning of section 
#aae74  7,,ii7 ,provides services to the
 general public or is available for     
general public use4  7,,iii7 ,if rates  
are charged for use of or services      
provided by such property1 such rates   
are subject to ,state or local          
governmental regulatory or contractual  
control1 limitation1 or approval4  4    
7b7 ,effective date ,the amendment made 
by this section shall apply with respect
 to use after the date of enactment of  
this ,act4  #c4 ,public infrastructure  
property not treated as investment      
property for arbitrage bonds  7a7 ,in   
general ,section #adh7;b7 of the        
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new paragraph3  7#e7 ,public  
infrastructure property not treated as  
investment-type property ,the term      
investment-type property shall not      
include public infrastructure property  
7as defined in section #ada7;b77#aj774  
4  7b7 ,effective date ,the amendment   

made by this section shall apply with   
respect to transactions after the date  
of the enactment of this ,act4