WASHINGTON - Sens. Ron Wyden, D-Ore. and John Hoeven, R-N.D., on Monday introduced legislation that would create Move America Bonds, which would generally be treated as exempt-facility, private-activity bonds but would have fewer restrictions and separate state volume caps that could be converted into tax credit allocations.

The bill, called Move America Act of 2015, would also allow states to convert volume cap for the bonds to allocations for tax credits. The Senators' proposal, which is designed to increase private investment in infrastructure, has some similarities to, and also differences from, the Obama administration's proposal for qualified public infrastructure bonds (QPIBs).

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