S. 5203 · Senate bill · 119th Congress

TURBO Act

Sponsored by Sen. Dave McCormick, Pennsylvania with 1 co-sponsor

Introduced Jul 30, 2026

Referred to the Finance Committee

Latest action Jul 30, 2026

SponsorSen. Dave McCormick, Pennsylvania· 1 cosponsorSen. Tammy Duckworth, Illinois

No summary yet. The Congressional Research Service usually summarizes a bill within weeks of a new version.

BillFull text · congress.gov(opens in a new tab)

Read the bill

About 200 words

Contents

Sec. 1. Short title

This Act may be cited as the “Transit for Urban Renewal and Business Opportunities Act” or the “TURBO Act”.

Sec. 2. Increase in national limitation for qualified highway or surface freight transfer facilities

(a) In general.— Section 142(m)(2)(A) of the Internal Revenue Code of 1986 is amended by striking “$30,000,000,000” and inserting “$45,000,000,000”.

(b) Effective date.— The amendment made by this section shall apply to bonds issued after the date of the enactment of this Act.

Sec. 3. Treatment of rolling stock related to mass commuting facilities

(a) In general.— Section 142(a)(3) of the Internal Revenue Code of 1986 is amended by inserting “including the acquisition of rolling stock,” after “mass commuting facilities”.

(b) Effective date.— The amendment made by this section shall apply to bonds issued after the date of the enactment of this Act.

Sec. 4. Modification of speed limit for high-speed intercity rail facilities

(a) In general.— Section 142(i)(1) of the Internal Revenue Code of 1986 is amended by striking “150 miles per hour” and inserting “110 miles per hour”.

(b) Effective date.— The amendment made by this section shall apply to bonds issued after the date of the enactment of this Act.

Official text, Introduced in Senate (Jul 30, 2026), from the Government Publishing Office via Congress.gov. Printed version (PDF) · All versions on Congress.gov