Bill Overview
Title: SIFIA Act
Description: This bill allows a new tax credit for the issuance of school infrastructure finance and innovation bonds (SIFIA bonds). The bill defines SIFIA bonds as any bond issue if 100% of the project proceeds of such issue are to be used for the design, construction, expansion, renovation, furnishing, or equipping of qualified school facilities.
Sponsors: Rep. Sewell, Terri A. [D-AL-7]
Target Audience
Population: Individuals involved with or reliant on school facilities globally
Estimated Size: 100000000
- The SIFIA Act pertains to school infrastructure, thus directly impacting anyone involved with or reliant on school facilities.
- The facilities impacted include all those classified as 'qualified school facilities.'
- This bill provides financial mechanisms to build and improve school facilities, affecting school districts, educators, and individuals attending school or involved in education.
- Given the role school facilities play in a community, the improvements and investments can potentially impact every person in the community to varying degrees.
- Approximately 1.5 billion students are estimated to be enrolled in primary, secondary, or higher education globally.
Reasoning
- This policy directly influences individuals who are involved with school facilities, including students, teachers, and community members. Given the defined budget, the policy will require careful targeting to affect improvements in areas where infrastructure upgrades are critically needed.
- We expect a variety of impacts across different socio-economic groups, depending on the condition of local school infrastructure prior to the policy. Rural and underfunded urban areas may see a larger improvement in perceived well-being as their facilities are likely to be more in need of upgrades.
- It is crucial to include perspectives from individuals with varying degrees of reliance on school facilities, from heavy users such as students and teachers to community members who indirectly benefit from improved school environments.
- While some will experience high impact due to improved facilities, others, especially in already well-equipped districts, may see little change.
Simulated Interviews
High School Student (Rural Texas)
Age: 16 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 20.0 years
Commonness: 9/20
Statement of Opinion:
- My school has outdated resources, limited space, and poor maintenance. It's hard to focus on learning when the environment is so run down.
- If this policy means my school will get better classrooms, labs, and sports facilities, it could really help improve my education and future.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 7 | 4 |
| Year 5 | 8 | 3 |
| Year 10 | 8 | 3 |
| Year 20 | 7 | 2 |
Elementary School Teacher (Chicago, IL)
Age: 42 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- As a teacher, I'm always pushing for better resources for my kids. A new gym and better classrooms could make a world of difference.
- I hope this policy will prioritize schools like mine, where kids work hard but don't have the facilities they need to succeed.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 4 |
| Year 20 | 7 | 3 |
Parent (Suburban Florida)
Age: 52 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- Our local schools are pretty good, but I've heard of others that are falling apart in the city. Investments in those schools could help lift up entire communities.
- I've volunteered at school and seen how a better environment boosts students' confidence and enthusiasm.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 4 |
School District Administrator (New York City, NY)
Age: 34 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- My job is all about making sure schools have what they need to function efficiently. This policy could streamline funding issues we struggle with every year.
- I see the direct impact on students and teachers when facilities improve, from safety to morale.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 6 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 4 |
Freelance Graphic Designer (Los Angeles, CA)
Age: 28 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 7/20
Statement of Opinion:
- I don't have kids, but I care about my community and believe strong schools make a better neighborhood.
- Even if I'm not directly involved, seeing schools get better can improve local property values and crime rates.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 5 | 4 |
| Year 20 | 5 | 4 |
Retired (Boston, MA)
Age: 63 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 14/20
Statement of Opinion:
- I spent my career in education and believe policies like this preserve quality learning environments.
- Reliable, safe schools should be the backbone of our society. Investments are long overdue.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 4 |
| Year 10 | 6 | 3 |
| Year 20 | 5 | 2 |
College Freshman (Cleveland, OH)
Age: 18 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 4.0 years
Commonness: 10/20
Statement of Opinion:
- I witnessed firsthand how renovations improved my old high school. It made a big difference in our learning experience.
- I hope future students can have a great environment like I did, thanks to this policy.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 4 |
High School Coach (Albuquerque, NM)
Age: 29 | Gender: other
Wellbeing Before Policy: 5
Duration of Impact: 15.0 years
Commonness: 9/20
Statement of Opinion:
- Our gym and fields are falling apart. Better infrastructure could revolutionize our programs and student involvement.
- Sports are an important part of education, and improving these facilities would boost teamwork and health.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 9 | 4 |
| Year 10 | 8 | 3 |
| Year 20 | 7 | 2 |
Public Policy Analyst (Detroit, MI)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 8.0 years
Commonness: 5/20
Statement of Opinion:
- The SIFIA Act is a critical step towards addressing educational inequities tied to infrastructure.
- Monitoring and analyzing the impact will be essential to ensure funds are used effectively.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 5 |
| Year 10 | 7 | 4 |
| Year 20 | 6 | 3 |
School Board Member (Rural Kansas)
Age: 37 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 12.0 years
Commonness: 8/20
Statement of Opinion:
- This policy could finally bring the funds we need to replace our aging school facilities.
- Our kids deserve to learn in environments that inspire them, not in buildings that are barely standing.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 4 |
| Year 5 | 8 | 4 |
| Year 10 | 7 | 3 |
| Year 20 | 6 | 2 |
Cost Estimates
Year 1: $1500000000 (Low: $1250000000, High: $1750000000)
Year 2: $1550000000 (Low: $1300000000, High: $1800000000)
Year 3: $1600000000 (Low: $1350000000, High: $1850000000)
Year 5: $1700000000 (Low: $1450000000, High: $1950000000)
Year 10: $1750000000 (Low: $1500000000, High: $2000000000)
Year 100: $2000000000 (Low: $1750000000, High: $2250000000)
Key Considerations
- The effectiveness of the SIFIA Act in meeting its goals will depend on the uptake and utilization of the bonds by school districts.
- Market conditions and investor appetite for tax-credit bonds can influence the success and fiscal dynamics of the program.
- Coordination with state and local infrastructure priorities may be necessary to optimize the effectiveness of school facility improvements.