I 
118TH CONGRESS 
1ST SESSION H. R. 4052 
To facilitate efficient investments and financing of infrastructure projects 
and new job creation through the establishment of a National Infrastruc-
ture Bank, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 13, 2023 
Mr. DAVIS of Illinois introduced the following bill; which was referred to the 
Committee on Energy and Commerce, and in addition to the Committees 
on Ways and Means, Transportation and Infrastructure, Financial Serv-
ices, Education and the Workforce, Natural Resources, and the Budget, 
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 concerned 
A BILL 
To facilitate efficient investments and financing of infrastruc-
ture projects and new job creation through the establish-
ment of a National Infrastructure Bank, 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; TABLE OF CONTENTS. 
(a) IN GENERAL.—This Act may be cited as the ‘‘Na-
tional Infrastructure Bank Act of 2023’’. 
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(b) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
Sec. 2. Findings. 
TITLE I—REVENUE PROVISIONS 
Sec. 101. Treatment of National Infrastructure Bank as a Government cor-
poration exempt from tax. 
Sec. 102. Treatment of contributions to the National Infrastructure Bank as 
charitable contributions. 
Sec. 103. Preferred dividends of National Infrastructure Bank excludible from 
gross income. 
TITLE II—ESTABLISHMENT OF NATIONAL INFRASTRUCTURE 
BANK 
Sec. 201. Definitions. 
Sec. 202. Establishment of National Infrastructure Bank. 
Sec. 203. Purposes and authorizations. 
Sec. 204. Formation of regional economic accelerator planning groups. 
Sec. 205. Eligibility criteria for assistance from the bank. 
Sec. 206. Board of Directors. 
Sec. 207. Powers and limitations of the Board. 
Sec. 208. Executive committee. 
Sec. 209. Risk management committee. 
Sec. 210. Audit committee. 
Sec. 211. Personnel. 
Sec. 212. Special Inspector General for the National Infrastructure Bank. 
Sec. 213. Status and applicability of certain Federal and State laws. 
Sec. 214. Exemption from certain laws. 
Sec. 215. Relations with local financial institutions. 
Sec. 216. Audits; reports to President and Congress. 
Sec. 217. Budgetary effects. 
Sec. 218. Authorization of appropriations. 
SEC. 2. FINDINGS. 
Congress finds the following: 
(1) Throughout our Nation’s history, national 
banks have played a crucial role in financing most 
of our Nation’s public infrastructure. The largest 
banks included: The First (1791–1811) and Second 
(1816–1836) Banks of the United States, President 
Lincoln’s national banking system, and President 
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Franklin Delano Roosevelt’s Reconstruction Finance 
Corporation (1932–1957). 
(2) These national banks were enacted with 
broad bi-partisan support, and financed the con-
struction of: roads, turnpikes, bridges, and canals; 
the Transcontinental Railroad; the Hoover Dam; 
rural electrification; manufacturing start-ups; and 
rail, school, and farm improvements in every corner 
of our country. Investments created the conditions 
for improved productivity, economic growth, and job 
creation; helped lift us out of the Great Depression; 
and contributed to our victory in World War II. 
(3) The American Society of Civil Engineers 
(hereinafter referred to as ‘‘ASCE’’), in its 2021 Re-
port Card and Failure to Act Series, estimates that 
$6,109,000,000,000 (expressed in 2019 dollars) is 
needed over the next ten years (2020–2029) to meet 
all of our country’s infrastructure needs. Of that 
amount, $3,483,000,000,000 is expected to be fi-
nanced by: the Federal government through its nor-
mal budget appropriations process; and by States, 
counties, cities, utilities, and port and airport au-
thorities through their general revenues, special 
taxes, user fees, and borrowing. Even with this 
spending, 
however, 
a 
financing 
gap 
of 
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$2,626,000,000,000 remains. To close this gap, our 
nation will need to increase investment, by all levels 
of government, from 2.5 percent to 3.5 percent of 
GDP by 2025. 
(4) ASCE further estimates that the added 
$2,626,000,000,000 (expressed in 2019 dollars) 
needed over a ten-year period to bring systems up 
to a state of good repair is broken out as follows 
(amounts in parentheses): 
(A) 
Roads, 
bridges, 
and 
transit 
($1,035,000,000,000). 
(B) Drinking water, wastewater, and 
stormwater systems ($801,000,000,000). 
(C) Schools ($250,000,000,000). 
(D) Electricity generation, transmission, 
and distribution ($197,000,000,000). 
(E) Aviation ($111,000,000,000). 
(F) Dams, levees, inland waterways, and 
ports ($109,000,000,000). 
(G) Passenger rail ($45,000,000,000). 
(H) 
Public 
parks 
and 
recreation 
($78,000,000,000). 
(5) 
Expanded 
investment 
of 
at 
least 
$2,374,000,000,000 (expressed in 2019 dollars) is 
also needed for— 
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(A) 
new 
affordable 
housing 
($720,000,000,000); 
(B) a 17,000-mile high-speed rail network 
($1,074,000,000,000); 
(C) affordable and complete broadband ac-
cess ($100,000,000,000); 
(D) 
major 
water 
supply 
projects 
($400,000,000,000); 
(E) a new grid overlay to transport renew-
able energy ($80,000,000,000); and 
(F) incorporated in each of the categories 
described in subparagraphs (A) through (E): 
science and technology drivers; accommodation 
of population growth; energy savings; and im-
provements in rural, urban, and low-income 
areas that the public and private sectors are not 
currently serving. 
(6) Although Federal grant programs, along 
with matching State and local funding, should con-
tinue to play a coordinating role in financing infra-
structure in the United States, current and foresee-
able demands on existing Federal, State, and local 
budgets exceed the resources to support these pro-
grams by a wide margin. In addition, a sharp bout 
of inflation in 2021–2022, and postponement of a 
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