President Biden signed the Infrastructure Investment and Jobs Act into law on November 15, 2021. The massive bill introduces more than $550 billion in new infrastructure spending, coupled with reauthorizations of existing programs, for a total of $1.2 trillion of federal infrastructure investment over the eight years.

Official Title

An act to authorize funds for Federal-aid highways, highway safety programs, and transit programs, and for other purposes. (H.R. 3684)

Short Title

“Infrastructure Investment and Jobs Act of 2021” (IIJA)


Federal decisionmakers had long seen infrastructure investment as an area of potential bipartisan agreement. Throughout the summer of 2021, a cohort of Senators from both parties ironed out the details for the bill, which at the time was commonly referred to as the “Bipartisan Infrastructure Framework” or “BIF.” The Senate passed the package on August 10, 2021, but it stalled in the House for three months while discussions on the Build Back Better agenda continued between chambers. The House passed the Senate’s amended version of the bill on November 5, 2021.

Why We Care

The bill introduces an historic amount of federal infrastructure investment that will likely spur additional financing opportunities to leverage additional improvements. Title IV of the bill also enacted several expansions to qualified private activity bonds (PABs), including those for:

NABL Stance

NABL never took a position on IIJA at-large but generally supports the inclusion of new financing tools made available to our communities. We continue to assist regulators in the implementation of the law and have submitted comments, which are available below, pertaining to specific provisions relating to qualified exempt facility bonds.

Latest on IIJA

  • Webinars
  • CLE Eligible

Tax Hot Topics

This panel will discuss current federal tax issues, including any recently released notices, rulings, regulations and/or other guidance.

  • Comments

Request for Guidance On Qualified Broadband Bonds

Comments submitted to the Internal Revenue Service (IRS) requesting clarifying guidance pertaining to the recently enacted qualified broadband project bonds.

  • Comments

Request for IRS Guidance on Carbon Capture Bonds

Request for clarifying guidance surrounding qualified carbon dioxide capture facilities enacted under the Infrastructure Investment and Jobs Act (IIJA) of 2021.

  • Comments

Requests for 2022-2023 IRS Priority Guidance Plan

Requested items for inclusion on the Internal Revenue Service’s (IRS) 2022-2023 Priority Guidance Plan.