Qualified Private Activity Bonds And The Bipartisan Infrastructure Framework

Deemed to be a "once-in-a-generation investment in our infrastructure",¹ the Infrastructure Investment and Jobs Act (H.R. 3684) is expected to be signed into law by President Biden in the coming days, ending a nearly three month wait since the legislation was advanced by bipartisan effort of the U.S. Senate. Commonly referred to as the "Bipartisan Infrastructure Framework", or BIF, the framework will introduce more than $550 billion in new infrastructure spending over the next five years while expanding eligible qualified private activity bonds. Most significantly, these qualified private activity bond expansions include: (1) broadband projects; (2) carbon capture technology; and (3) highway and surface freight transfer facilities.