I 
116TH CONGRESS 
2D SESSION 
H. R. 7231 
To establish the Infrastructure Bank for America as a corporation to serve 
as a lender for and investor in infrastructure projects, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 15, 2020 
Mr. WEBSTER of Florida (for himself, Mr. MEUSER, Mr. REED, and Mr. 
LAMALFA) introduced the following bill; which was referred to the Com-
mittee on Transportation and Infrastructure, and in addition to the Com-
mittees on Financial Services, and Ways and Means, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
of such provisions as fall within the jurisdiction of the committee con-
cerned 
A BILL 
To establish the Infrastructure Bank for America as a cor-
poration to serve as a lender for and investor in infra-
structure projects, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Infrastructure Bank 
for America Act of 2020’’. 
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SEC. 2. ESTABLISHMENT OF THE INFRASTRUCTURE BANK 
HOLDING COMPANY. 
(a) IN GENERAL.—There is established a corporation 
to be known as the ‘‘Infrastructure Bank Holding Com-
pany’’ (in this Act referred to as the ‘‘Holding Com-
pany’’), which shall be the parent company of the Infra-
structure Bank for America established under section 3. 
(b) BOARD OF DIRECTORS.—The Holding Company 
shall have a Board of Directors, which shall— 
(1) initially consist of 7 members, or such other 
number as the formation agent determines appro-
priate; 
(2) be elected by the shareholders of the Hold-
ing Company; 
(3) within the limitations of law and regulation, 
determine the general policies that govern the oper-
ations of the Holding Company, and have the power 
to adopt, amend, and repeal bylaws governing the 
performance of the powers and duties granted to or 
imposed upon the Holding Company by law; and 
(4) select and effect the appointment of quali-
fied persons to fill the office of the Chief Executive 
Officer and such other offices as may be provided 
for in the bylaws of the Holding Company and the 
Infrastructure Bank for America established under 
section 3. 
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(c) TREATMENT OF SHAREHOLDERS OF THE FORMA-
TION AGENT.—The formation agent shall issue equity se-
curities of the Holding Company to each shareholder of 
the formation agent, in an amount that the formation 
agent determines has a value equal to the value of equity 
securities of the formation agent held by such shareholder 
upon the establishment of the Holding Company. 
(d) EARNINGS AND RESERVES NOT GOVERNMENT 
FUNDS.—The earnings and reserves of the Holding Com-
pany shall be the sole property of the Holding Company 
and may not be construed to be Government funds, public 
funds, or appropriated money. 
SEC. 3. ESTABLISHMENT OF THE INFRASTRUCTURE BANK 
FOR AMERICA. 
(a) IN GENERAL.—The formation agent shall estab-
lish a corporation to be known as the ‘‘Infrastructure 
Bank for America’’ (in this Act referred to as the 
‘‘Bank’’). The Bank shall— 
(1) maintain its principle office in New York 
City or the District of Columbia; and 
(2) be registered as a Delaware corporation, 
and, for the purposes of jurisdiction and venue in 
civil actions, operate as a Delaware corporation. 
(b) DUTIES OF THE FORMATION AGENT.—At the 
earliest practicable date after the date of the enactment 
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of this Act, the formation agent shall make and file with 
the Secretary of the Treasury (in this Act referred to as 
the ‘‘Secretary’’) an organization certificate for the Bank 
in accordance with such rules and regulations as the Sec-
retary may prescribe. 
(c) REGIONAL OFFICES.—The Bank shall establish 
regional offices for the purpose of focusing on infrastruc-
ture projects in different areas of the Unites States. 
(d) BOARD OF DIRECTORS.—The Board of Directors 
of the Holding Company established under section 2(b) 
shall be the initial Board of Directors of the Bank. 
SEC. 4. FUNCTIONS OF THE BANK. 
(a) IN GENERAL.—The Bank shall provide— 
(1) equity investments, direct loans, indirect 
loans, and loan guarantees for the construction or 
maintenance of revenue-producing infrastructure 
projects in the United States with sufficient revenue 
sources and guarantees to support the interest and 
principal payments to the Bank; and 
(2) direct and indirect loans and loan guaran-
tees to State and local governments and State infra-
structure banks for the construction or maintenance 
of infrastructure projects. 
(b) SUPPORT FOR RURAL PROJECTS.—At least 7 
percent of the dollar amount of loans, equity investments, 
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and loan guarantees provided by the Bank shall be with 
respect to infrastructure projects in rural areas. 
(c) NO COMMERCIAL OR INVESTMENT BANKING AC-
TIVITIES.—The Bank shall not accept customer deposits 
nor engage in financial or investment banking activities 
such as trust management or underwriting securities. 
(d) PLEDGE AND CREDIT FACILITIES.— 
(1) PLEDGE.—The Bank shall have the author-
ity to pledge its loans to the discount window of the 
Board of Governors of the Federal Reserve System. 
(2) PURCHASE
OF
OBLIGATIONS.—The Sec-
retary may, subject to amounts provided in advance 
by appropriation Acts, purchase obligations issued 
by the Bank in the same manner and under the 
same requirements that the Secretary purchases ob-
ligations under section 306(c) of the Federal Home 
Loan 
Mortgage 
Corporation 
Act 
(12 
U.S.C. 
1455(c)). 
(e) LEVERAGE LIMITATION.—The Bank shall seek to 
maintain risk-based capital at no less than 10 percent. 
SEC. 5. HOLDING COMPANY SECURITIES. 
(a) EQUITY SECURITIES.— 
(1) IN GENERAL.—The Holding Company shall 
issue such equity securities as the Holding Company 
determines appropriate. 
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(2) DIVIDENDS.—The Holding Company may 
make such dividend payments on the equity securi-
ties of the Holding Company as the Holding Com-
pany determines appropriate. 
(3) INITIAL ISSUANCE AMOUNT.—The Holding 
Company 
shall 
have 
the 
goal 
of 
raising 
$1,000,000,000 in the initial issuance of equity se-
curities in 
a 
private 
placement 
and 
up 
to 
$100,000,000,000 or more of equity securities in 
public offerings over time, the purpose of which is 
to fund the Bank. 
(4) RESTRICTION
ON
VOTING
RIGHTS.—Any 
holder of an equity security of the Holding Company 
that is a non-U.S. individual or entity shall have no 
voting rights with respect to such equity security. 
(b) BONDS.— 
(1) STANDARD BONDS.—The Holding Company 
may issue standard bonds with maturities up to 30 
years or longer, as needed. 
(2) OTHER
BONDS.—The Holding Company 
may issue such other bonds, notes, and marketable 
securities with maturities and interest rates as the 
Holding Company determines appropriate. 
(3) INITIAL ISSUANCE AMOUNT.—The Holding 
Company shall have the goal of making initial bond 
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sales in a private placement in an aggregate amount 
of $10,000,000,000 and in public offerings in an 
amount of $1,000,000,000,000 or more over time. 
(4) OVERSIGHT AND AUTHORITY TO PURCHASE 
BONDS.— 
(A) APPROVAL REQUIRED.—Before issuing 
any bonds, the Holding Company shall submit 
a proposal for such bond issuance to the Sec-
retary, and the Holding Company may only 
issue such bonds if the Secretary approves the 
proposal. 
(B) AUTHORITY TO PURCHASE BONDS.— 
(i) IN GENERAL.—The Secretary and 
the Board of Governors of the Federal Re-
serve System may purchase bonds issued 
under this subsection. 
(ii) 
LIMITATION.—The 
aggregate 
amount of outstanding bonds purchased by 
the Secretary under this subparagraph 
may not exceed 5 percent of the total 
amount of the outstanding bonds of the 
Holding Company. 
(5) 
LEVERAGE
LIMITATION.—The 
Holding 
Company shall seek to maintain risk-based capital at 
no less than 10 percent. 
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