Daily Tax Update - May 4, 2015: Infrastructure Bond and Tax Credit Proposal Introduced in Senate

Infrastructure Bond and Tax Credit Proposal Introduced in Senate:  Senate Finance Committee Ranking Member Ron Wyden (D-OR) and Senator John Hoeven (R-ND) introduced the “Move America Act of 2015,” which provides for tax-exempt financing for public-private partnerships for infrastructure and transportation investment.  The bill provides for up to $180 billion in tax-exempt bond authority for states over the next 10 years and up to $45 billion in infrastructure tax credits over the next 10 years.  The bill is intended to expand public-private partnership ownership arrangements for roads, bridges, ports, rail, and airports.

OECD Releases Comments on BEPS Draft of Mandatory Disclosure Rules:  The OECD released public comments on the discussion draft for the BEPS plan relating to mandatory disclosure rules.  The discussion draft included key features of a mandatory disclosure regime and consideration of how international transactions should be disclosed.