I 
112TH CONGRESS 
1ST SESSION 
H. R. 402 
To facilitate efficient investments and financing of infrastructure projects 
and new job creation through the establishment of a National Infrastruc-
ture Development Bank, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 24, 2011 
Ms. DELAURO (for herself, Mr. ELLISON, Mr. ISRAEL, Mr. WEINER, Mr. 
TIERNEY, Mr. VAN HOLLEN, Ms. HIRONO, Ms. BORDALLO, Ms. LEE of 
California, Mr. LARSON of Connecticut, Mr. COURTNEY, Ms. BERKLEY, 
Mr. HIMES, Mr. BOSWELL, Mr. CONYERS, Mr. MURPHY of Connecticut, 
Mr. YARMUTH, Mr. LUJA´N, Ms. SUTTON, Mr. BRALEY of Iowa, Mr. 
LYNCH, Ms. RICHARDSON, Mr. GONZALEZ, and Mr. BLUMENAUER) intro-
duced the following bill; which was referred to the Committee on Energy 
and Commerce, and in addition to the Committees on Transportation and 
Infrastructure and Financial Services, for a period to be subsequently de-
termined 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 Development 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, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘National Infrastruc-
ture Development Bank Act of 2011’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
(1) According to the American Society of Civil 
Engineers, the current condition of the infrastruc-
ture in the United States earns a grade point aver-
age of D, and an estimated $2,200,000,000,000 in-
vestment is needed over the next 5 years to meet 
adequate conditions. 
(2) According to the National Surface Trans-
portation Policy and Revenue Study Commission, 
$225,000,000,000 is needed annually from all 
sources for the next 50 years to upgrade our surface 
transportation system to a state of good repair and 
create a more advanced system. 
(3) The Environmental Protection Agency 
projects that— 
(A) $334,000,000,000 is needed to invest 
in infrastructure improvements over 20 years to 
ensure the provision of safe water; and 
(B) $202,500,000,000 is needed for pub-
licly owned wastewater systems-related infra-
structure needs over 20 years. 
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(4) According to the Edison Electric Institute, 
the electric power industry will need to invest 
$298,000,000,000 in the Nation’s transmission sys-
tem by 2030 in order to maintain reliable service. 
(5) According to the American Council on Re-
newable Energy, renewable energy could provide up 
to 635 gigawatts of new electricity generating capac-
ity by 2025, a substantial contribution and poten-
tially more than the Nation’s need for new capacity, 
according to the United States Energy Information 
Administration. 
(6) According to the United States Green 
Building Council, United States buildings account 
for nearly 39 percent of primary energy use and 38 
percent of carbon emissions. 
(7) According to the Organization for Economic 
Cooperation and Development (OECD), the United 
States ranks 14th among OECD nations in 
broadband access per 100 inhabitants. 
(8) Although grant programs of the Govern-
ment must continue to play a central role in financ-
ing the transportation, environment, energy, and 
telecommunications infrastructure needs of the 
United States, current and foreseeable demands on 
existing Federal, State, and local funding for infra-
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structure expansion exceed the resources to support 
these programs by margins wide enough to prompt 
serious concerns about the United States’ ability to 
sustain long-term economic development, produc-
tivity, and international competitiveness. 
(9) The capital markets, including central 
banks, pension funds, financial institutions, sov-
ereign wealth funds, and insurance companies, have 
a growing interest in infrastructure investment. The 
establishment of a United States Government-owned 
institution that would provide this investment oppor-
tunity through high quality bond issues that would 
be used to finance qualifying infrastructure projects 
would attract needed capital for United States infra-
structure development. 
SEC. 3. DEFINITIONS. 
For purposes of this Act, the following definitions 
apply unless the context requires otherwise: 
(1) BANK.—The term ‘‘Bank’’ means the Na-
tional Infrastructure Development Bank established 
under section 4(a). 
(2) BOARD.—The term ‘‘Board’’ means the Na-
tional Infrastructure Development Bank Board. 
(3) CHIEF ASSET AND LIABILITY MANAGEMENT 
OFFICER.—The term ‘‘chief asset and liability man-
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agement officer’’ means the chief individual respon-
sible for coordinating the management of assets and 
liabilities of the Bank. 
(4) CHIEF COMPLIANCE OFFICER.—The term 
‘‘chief compliance officer or CCO’’ means the chief 
individual responsible for overseeing and managing 
the compliance and regulatory affairs issues of the 
Bank. 
(5) CHIEF
FINANCIAL
OFFICER.—The term 
‘‘chief financial officer or CFO’’ means the chief in-
dividual responsible for managing the financial risks, 
planning, and reporting of the Bank. 
(6) CHIEF LOAN ORIGINATION OFFICER.—The 
term ‘‘chief loan origination officer’’ means the chief 
individual responsible for the processing of new 
loans provided by the Bank. 
(7) CHIEF
OPERATIONS
OFFICER.—The term 
‘‘chief operations officer or COO’’ means the chief 
individual responsible for information technology and 
the day to day operations of the Bank. 
(8) CHIEF
RISK
OFFICER.—The term ‘‘chief 
risk officer or CRO’’ means the chief individual re-
sponsible for managing operational and compliance- 
related risks of the Bank. 
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(9) CHIEF
TREASURY
OFFICER.—The term 
‘‘chief treasury officer’’ means the chief individual 
responsible for managing the Bank’s treasury oper-
ations. 
(10) DEVELOPMENT.—The terms ‘‘develop-
ment’’ and ‘‘develop’’ mean, with respect to an infra-
structure project, any— 
(A) preconstruction planning, feasibility re-
view, permitting, design work, and other 
preconstruction activities; and 
(B) construction, reconstruction, rehabili-
tation, replacement, or expansion. 
(11) DISADVANTAGED COMMUNITY.—The term 
‘‘disadvantaged community’’ means a community 
with a median household income of less than 80 per-
cent of the statewide median household income for 
the State in which the community is located. 
(12) ENERGY
INFRASTRUCTURE
PROJECT.— 
The term ‘‘energy infrastructure project’’ means any 
project for energy transmission, energy efficiency en-
hancement for buildings, public housing, and 
schools, renewable energy, and energy storage. 
(13) ENTITY.—The term ‘‘entity’’ means an in-
dividual, corporation, partnership (including a pub-
lic-private partnership), joint venture, trust, and a 
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State or other governmental entity, including a polit-
ical subdivision or any other instrumentality of a 
State or a revolving fund. 
(14) 
ENVIRONMENTAL
INFRASTRUCTURE 
PROJECT.—The term ‘‘environmental infrastructure 
project’’ means any project for the establishment, 
maintenance, or enhancement of any drinking water 
and wastewater treatment facility, storm water man-
agement system, dam, levee, open space manage-
ment system, solid waste disposal facility, hazardous 
waste facility, or industrial site cleanup. 
(15) EXECUTIVE DIRECTOR.—The term ‘‘execu-
tive director’’ means the individual serving as the 
chief executive officer of the Bank. 
(16) GENERAL COUNSEL.—The term ‘‘general 
counsel’’ means the individual who serves as the 
chief lawyer for the Bank. 
(17) INFRASTRUCTURE
PROJECT.—The term 
‘‘infrastructure project’’ means any energy, environ-
mental, telecommunications, or transportation infra-
structure project. 
(18) PUBLIC BENEFIT BOND.—The term ‘‘pub-
lic benefit bond’’ means a bond issued with respect 
to an infrastructure project in accordance with this 
Act if— 
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(A) the net spendable proceeds from the 
sale of the issue may be used for expenditures 
incurred after the date of issuance with respect 
to the project, subject to the rules of the Bank; 
(B) the bond issued by the Bank is in reg-
istered form and meets the requirements of this 
Act and otherwise applicable law; and 
(C) the payment of principal with respect 
to the bond is the obligation of the Bank. 
(19) 
PUBLIC-PRIVATE
PARTNERSHIP.—The 
term ‘‘public-private partnership’’ means any enti-
ty— 
(A)(i) which is undertaking the develop-
ment of all or part of an infrastructure project, 
which will have a public benefit, pursuant to re-
quirements established in one or more contracts 
between the entity and a State or an instru-
mentality of a State; or 
(ii) the activities of which, with respect to 
such an infrastructure project, are subject to 
regulation by a State or any instrumentality of 
a State; and 
(B) which owns, leases, or operates, or will 
own, lease, or operate, the project in whole or 
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in part, and at least one of the participants in 
the entity is a nongovernmental entity. 
(20) REVOLVING FUND.—The term ‘‘revolving 
fund’’ means a fund or program established by a 
State or a political subdivision or other instrumen-
tality of a State, the principal activity of which is to 
make loans, commitments, or other financial accom-
modation available for the development of one or 
more categories of infrastructure projects. 
(21) 
SECRETARY.—The 
term 
‘‘Secretary’’ 
means the Secretary of the Treasury or the designee 
of the Secretary. 
(22) SMART
GRID.—The term ‘‘smart grid’’ 
means a system that provides for any of the smart 
grid functions set forth in section 1306(d) of the 
Energy Independence and Security Act of 2007 (42 
U.S.C. 17386(d)). 
(23) STATE.—The term ‘‘State’’ includes the 
District of Columbia, Puerto Rico, Guam, American 
Samoa, the Virgin Islands, the Commonwealth of 
Northern Mariana Islands, and any other territory 
of the United States. 
(24) TELECOMMUNICATIONS INFRASTRUCTURE 
PROJECT.—The term ‘‘telecommunications infra-
structure project’’ means any project involving infra-
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structure required to provide communications by 
wire or radio. 
(25) 
TRANSPORTATION
INFRASTRUCTURE 
PROJECT.—The term ‘‘transportation infrastructure 
project’’ means any project for the construction, 
maintenance, or enhancement of highways, roads, 
bridges, transit and intermodal systems, inland wa-
terways, commercial ports, airports, high speed rail 
and freight rail systems. 
SEC. 4. ESTABLISHMENT OF NATIONAL INFRASTRUCTURE 
DEVELOPMENT BANK. 
(a) ESTABLISHMENT
OF NATIONAL INFRASTRUC-
TURE DEVELOPMENT BANK.—The National Infrastruc-
ture Development Bank is established as a wholly owned 
Government corporation subject to chapter 91 of title 31, 
United States Code (commonly known as the ‘‘Govern-
ment Corporation Control Act’’), except as otherwise pro-
vided in this Act. 
(b) RESPONSIBILITY OF THE SECRETARY.—The Sec-
retary shall take such action as may be necessary to assist 
in implementing the establishment of the bank in accord-
ance with this Act. 
(c) CONFORMING AMENDMENT.—Section 9101(3) of 
title 31, United States Code, is amended by inserting after 
subparagraph (N) the following: 
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(C) Job creation, including workforce de-
velopment for women and minorities, respon-
sible employment practices, and quality job 
training opportunities. 
(D) Poverty and inequality reduction 
through targeted training and employment op-
portunities for low-income workers. 
(3) ENERGY INFRASTRUCTURE PROJECT.—For 
any energy infrastructure project, the Board shall 
consider the following: 
(A) Job creation, including workforce de-
velopment for women and minorities, respon-
sible employment practices, and quality job 
training opportunities. 
(B) Poverty and inequality reduction 
through targeted training and employment op-
portunities for low-income workers. 
(C) Reduction in carbon emissions. 
(D) Expanded use of renewable energy. 
(E) Development of a smart grid. 
(F) Energy efficient building, housing, and 
school modernization. 
(G) In any case in which the project is also 
a public housing project— 
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