This bill, titled the Transit for Urban Renewal and Business Opportunities Act (TURBO Act), amends the Internal Revenue Code of 1986 to modify rules for certain exempt facility bonds. Its primary goal is to facilitate financing for various transportation infrastructure projects by adjusting existing limitations and definitions. Specifically, the bill increases the national limitation for qualified highway or surface freight transfer facilities from $30 billion to $45 billion , allowing for more tax-exempt bond financing for these projects. It also clarifies that the definition of "mass commuting facilities" eligible for these bonds explicitly includes the acquisition of rolling stock , such as trains or buses. Furthermore, the legislation modifies the speed requirement for high-speed intercity rail facilities to qualify for exempt facility bonds, lowering it from 150 miles per hour to 110 miles per hour . These changes apply to bonds issued after the date of the Act's enactment, aiming to broaden the scope and availability of tax-exempt financing for critical transportation infrastructure.