by adding at the end the following: Subpart J—School infrastructure bonds . (e) Effective Date The amendments made by this section shall apply to obligations issued after December 31, 2023. 203. Annual report on bond program (a) In general Not later than September 30 of each fiscal year beginning after the date of the enactment of this Act, the Secretary of the Treasury shall submit to the appropriate congressional committees a report on the amendments made by sections 201 and 202. (b) Elements The report under paragraph (1) shall include, with respect to the fiscal year preceding the year in which the report is submitted, the following: (1) An identification of— (A) each local educational agency (if any) that received an allocation under section 54E(b)(2) or 54BB(g) of the Internal Revenue Code of 1986, and (B) each local educational agency (if any) that was eligible to receive such funds but did not receive such funds. (2) With respect to each local educational agency described in paragraph (1)— (A) an assessment of the capacity of the agency to raise funds for the long-term improvement of public school facilities, as determined by an assessment of— (i) the current and historic ability of the agency to raise funds for construction, renovation, modernization, and major repair projects for schools, including the ability of the agency to raise funds through imposition of property taxes, (ii) whether the agency has been able to issue bonds to fund construction projects, including— (I) qualified zone academy bonds under section 54E of the Internal Revenue Code of 1986, and (II) school infrastructure bonds under section 54BB of the Internal Revenue Code of 1986, and (iii) the bond rating of the agency, (B) the demographic composition of the student population served by the agency, disaggregated by— (i) race, (ii) the number and percentage of students counted under section 1124(c) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 6333(c) ), and (iii) the number and percentage of students who are