To amend the Internal Revenue Code of 1986 to treat certain publicly-traded debt issued or guaranteed by Federal, State, or local governments as qualified nonrecourse financing.

H.R. 919 is a legislative proposal designed to change how certain government-backed debts are treated under federal tax law. Specifically, it would allow publicly traded debt issued or guaranteed by federal, state, or local governments to be classified as "qualified nonrecourse financing."

For the average citizen and investor, this change would simplify the tax rules regarding "at-risk" limitations, potentially making it easier for individuals and businesses to claim tax deductions related to investments funded by government-backed debt. By expanding these qualifications, the bill aims to encourage investment in public projects and infrastructure by reducing the tax complexities associated with financing those ventures.