At its July 11, 2016 meeting, the Legislation Committee considered the recommendation from the County Administrator's staff to amend the County's adopted 2016 Federal Platform to include support for legislation that would create a new category of private activity bonds for governments to join with private parties to help finance government buildings. An amendment to the Federal Platform would allow the County to support legislation such as H.R.5361 which was introduced in House on May 26, 2016 and would amend the Internal Revenue Code of 1986 to provide for the tax-exempt financing of certain government-owned buildings.   
  
The Public Buildings Renewal Act (H.R. 5361), introduced by Rep. Mike Kelly, R-Pa., would create a new category of private activity bonds for governments to join with private parties to help finance schools, medical facilities, police stations and other social infrastructure. The recently introduced bill, which has nine co-sponsors, would amend the federal tax code to provide another layer of tax-exempt financing that would encourage the use of public-private partnerships. Section 142 of the federal tax code includes 15 categories of "qualified" PABs, one of which is qualified public educational facilities. Kelly's legislation would add a 16th category for qualified government buildings.  
  
H.R. 5361 defines qualified government buildings as an elementary or secondary school; public university buildings used for educational purposes; public libraries; courts; hospitals, health care facilities, laboratories and research buildings; public safety buildings including police and fire stations, medical facilities and jails; and government offices.  

The bonds would be exempt from state volume cap restrictions generally applied to PABS, and instead would be subject to a new, national cap of $5 billion.

State and local governments would be required to submit a funding application to the Treasury Department that includes the amount requested; the governmental unit that will own the project; and a project description and timeline. Governments would also be required to provide anticipated funding sources and uses of funds for the project. Entities would be required to issue bonds in the amount allocated by Treasury within two years after the allocation date. If they fail to do so, the unused portion of the allocation would be revoked.

The bill would exclude any retail food or beverage facilities or buildings used for recreation and entertainment, including private golf courses, country clubs, convention centers and sports arenas.