S. 5203 — TURBO Act

This section increases the national limitation on tax-exempt bonds for qualified highway or surface freight transfer facilities to $45 billion (from $30 billion). The higher limit applies to bonds issued after the date of enactment.

This section expands the definition of exempt facility bonds to permit their use for the acquisition of rolling stock for mass commuting facilities. The change applies to bonds issued after the date of enactment.

This section lowers the minimum speed requirement for high-speed intercity rail facilities to qualify for tax-exempt bond financing to 110 miles per hour (from 150 miles per hour). The change applies to bonds issued after the date of enactment.