I 
117TH CONGRESS 
1ST SESSION H. R. 4413 
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 
JULY 13, 2021 
Ms. DELAURO (for herself, Ms. CLARK of Massachusetts, Mr. ESPAILLAT, Mr. 
TONKO, Mr. COHEN, Mr. LARSON of Connecticut, Mr. BISHOP of Geor-
gia, Mr. CARSON, Mr. DEUTCH, and Mr. SUOZZI) introduced the fol-
lowing bill; which was referred to the Committee on Energy and Com-
merce, and in addition to the Committees on Transportation and Infra-
structure, and Financial Services, for a period to be subsequently deter-
mined 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, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘National Infrastruc-
ture Development Bank Act of 2021’’. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
SEC. 2. 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 3(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-
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 man-
aging the compliance and regulatory affairs issues of 
the Bank. 
(5) CHIEF
EXECUTIVE
OFFICER.—The term 
‘‘chief executive officer’’ or ‘‘CEO’’ means the indi-
vidual serving as the executive director of the bank. 
(6) CHIEF
FINANCIAL
OFFICER.—The term 
‘‘chief financial officer’’ or ‘‘CFO’’ means the chief 
individual responsible for managing the financial 
risks, planning, and reporting of the Bank. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(7) 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. 
(8) 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. 
(9) CHIEF
RISK
OFFICER.—The term ‘‘chief 
risk officer’’ or ‘‘CRO’’ means the chief individual 
responsible for managing operational and compli-
ance-related risks of the Bank. 
(10) CHIEF
TREASURY
OFFICER.—The term 
‘‘chief treasury officer’’ means the chief individual 
responsible for managing the Bank’s treasury oper-
ations. 
(11) DEVELOPMENT.—The term ‘‘development’’ 
means, with respect to an infrastructure project, 
any— 
(A) preconstruction planning, feasibility re-
view, permitting, design work, life-cycle mainte-
nance planning, and other preconstruction ac-
tivities; and 
(B) construction, reconstruction, rehabili-
tation, replacement, or expansion. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(12) DIRECT
LOAN; LOAN
GUARANTEE.—The 
terms ‘‘direct loan’’ and ‘‘loan guarantee’’ have the 
same meaning as in section 502 of the Federal 
Credit Reform Act of 1990 (2 U.S.C. 661a). 
(13) 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. 
(14) ENERGY
INFRASTRUCTURE
PROJECT.— 
The term ‘‘energy infrastructure project’’ means a 
project for energy transmission and distribution, en-
ergy efficiency enhancement for buildings, public 
housing, health facilities, schools, and energy stor-
age. 
(15) ENTITY.—The term ‘‘entity’’ means an in-
dividual, corporation, partnership (including a pub-
lic-private partnership), joint venture, trust, and a 
State or other governmental entity, including a polit-
ical subdivision or any other instrumentality of a 
State or a revolving fund. 
(16) 
ENVIRONMENTAL
INFRASTRUCTURE 
PROJECT.—The term ‘‘environmental infrastructure 
project’’ means a project that— 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(A) establishes, maintains, or enhances any 
drinking water and wastewater treatment facil-
ity, storm water management system, flood 
gate, dam, levee, dredging, open space manage-
ment system, wetland restoration, infill develop-
ment, solid waste disposal facility, hazardous 
waste facility, or industrial site cleanup; or 
(B) rectifies issues of manufacturing, lab-
oratory practices, and other processes that do 
not comply with regulations. 
(17) FINANCIAL
ASSISTANCE.—The term ‘‘fi-
nancial assistance’’ means providing credit assist-
ance in the form of direct loans, loan guarantees, 
and stand by lines of credit. 
(18) GENERAL COUNSEL.—The term ‘‘general 
counsel’’ means the individual who serves as the 
chief lawyer for the Bank. 
(19) GREENHOUSE GASES.—The term ‘‘green-
house gases’’ means any of the following: 
(A) Carbon dioxide. 
(B) Methane. 
(C) Nitrous oxide. 
(D) Sulfur hexafluoride. 
(E) Hydrofluorocarbons. 
(F) Any perfluorocarbon. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(G) Nitrogen trifluoride. 
(H) Any other anthropogenic gas des-
ignated by the Administrator of the Environ-
mental Protection Agency. 
(20) INFRASTRUCTURE
PROJECT.—The term 
‘‘infrastructure project’’ means— 
(A) an energy infrastructure project; 
(B) 
an 
environmental 
infrastructure 
project; 
(C) a telecommunications infrastructure 
project; or 
(D) a transportation infrastructure project. 
(21) 
PUBLIC-PRIVATE
PARTNERSHIP.—The 
term ‘‘public-private partnership’’ means a contrac-
tual agreement between a public agency and a pri-
vate entity that allows for greater private participa-
tion in the delivery of projects. 
(22) 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. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(23) 
SECRETARY.—The 
term 
‘‘Secretary’’ 
means the Secretary of the Treasury. 
(24) 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)). 
(25) STATE.—The term ‘‘State’’ means the sev-
eral States and 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. 
(26) TELECOMMUNICATIONS INFRASTRUCTURE 
PROJECT.—The term ‘‘telecommunications infra-
structure project’’ means a project for infrastructure 
that facilitates the exchanging of information 
through electronic technologies, including voice, 
data, and video transmissions project. 
(27) 
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. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
SEC. 3. 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 of the Treasury shall take such actions as may be 
necessary to assist in implementing the establishment of 
the bank. 
SEC. 4. BOARD OF DIRECTORS. 
(a) IN GENERAL.—The Bank shall have a Board of 
Directors consisting of 7 members appointed by the Presi-
dent and with the advice and consent of the Senate. 
(b) QUALIFICATIONS.—The directors of the Board 
shall include individuals representing different regions of 
the United States and— 
(1) 2 of the directors shall have public sector 
experience; 
(2) 2 of the directors shall have private sector 
experience; and 
(3) 3 of the directors shall have finance experi-
ence. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(c) CHAIRPERSON AND VICE CHAIRPERSON.—As des-
ignated at the time of appointment, one of the directors 
of the Board shall be designated chairperson of the Board 
by the President and one shall be designated as vice chair-
person of the Board by the President. 
(d) TERMS.— 
(1) IN GENERAL.—Except as provided in para-
graph (2) and subsection (f), each director shall be 
appointed for a term of 6 years. 
(2) INITIAL STAGGERED TERMS.—Of the initial 
members of the Board— 
(A) the chairperson and vice chairperson 
shall each be appointed for terms of 6 years; 
(B) 3 shall be appointed for a term of 4 
years; and 
(C) 2 shall be appointed for a term of 2 
years. 
(e) INITIAL APPOINTMENTS.—Not later than 30 days 
after the date of enactment of this Act, the majority leader 
of the Senate, the minority leader of the Senate, the 
Speaker of the House of Representatives, and the minority 
leader of the House of Representatives shall each submit 
a recommendation to the President for appointment of a 
member of the Board of Directors, after consultation with 
the appropriate committees of Congress. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(f) DATE
OF INITIAL NOMINATIONS.—The initial 
nominations by the President for appointment of directors 
to the Board shall be made not later than 60 days after 
the date of enactment of this Act, with the advice and 
consent of the Senate. 
(g) VACANCIES.— 
(1) IN
GENERAL.—A vacancy on the Board 
shall be filled in the manner in which the original 
appointment was made. 
(2) 
APPOINTMENT
TO
REPLACE
DURING 
TERM.—Any director appointed to fill a vacancy oc-
curring before the expiration of the term for which 
the director’s predecessor was appointed shall be ap-
pointed only for the remainder of the term. 
(3) DURATION.—A director may serve after the 
expiration of that director’s term until a successor 
has taken office. 
(h) QUORUM.—Four directors shall constitute a 
quorum. 
(i) REAPPOINTMENT.—A director of the Board ap-
pointed by the President may be reappointed by the Presi-
dent, with the advice and consent of the Senate. 
(j) PER DIEM REIMBURSEMENT.—Directors of the 
Board shall serve on a part-time basis and shall receive 
a per diem when engaged in the actual performance of 
VerDate Sep 11 2014 
02:19 Jul 31, 2021
Jkt 019200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
Bank business, plus reasonable reimbursement for travel, 
subsistence, and other necessary expenses incurred in the 
performance of their duties. 
(k) LIMITATIONS.—A director of the Board may not 
participate in any review or decision affecting a project 
under consideration for assistance under this Act if the 
director has or is affiliated with a person who has an inter-
est in such project, as determined by the other members 
of Board. 
(l) RESPONSIBILITIES.—The Board shall— 
(1) as soon as is practicable after the date on 
which the last director is appointed, establish an Ex-
ecutive Committee, Risk Management Committee 
and Audit Committee as prescribed by this Act; 
(2) not later than 180 days after the date on 
which the last director is appointed develop and ap-
prove the bylaws of the Bank, including bylaws for 
the regulation of the affairs and conduct of the busi-
ness of the Bank, consistent with the purpose, goals, 
objectives, and policies set forth in this Act; 
(3) ensure that the Bank is at all times oper-
ated in a manner that is consistent with this Act, 
by— 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00011
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(A) monitoring and assessing the effective-
ness of the Bank in achieving its strategic 
goals; 
(B) periodically reviewing internal policies 
submitted by the chief executive officer; 
(C) reviewing and approving annual busi-
ness plans, annual budgets, and long-term 
strategies submitted by the chief executive offi-
cer; 
(D) reviewing and approving annual re-
ports submitted by the chief executive officer; 
(E) reviewing risk management and audit 
practices of the Bank; and 
(F) reviewing and approving all changes to 
the organization of the Bank; and 
(4) establish such other criteria, requirements, 
or procedures as the Board may consider to be ap-
propriate in carrying out this Act. 
(m) MEETINGS.— 
(1) OPEN TO THE PUBLIC; NOTICE.—All meet-
ings of the Board held to conduct the business of the 
Bank shall be open to the public and shall be pre-
ceded by reasonable notice. 
(2) INITIAL MEETING.—The Board shall meet 
not later than 90 days after the date on which the 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00012
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
last director is appointed and otherwise at the call 
of the Chairperson. 
(3) EXCEPTION FOR CLOSED MEETINGS.—Pur-
suant to such rules as the Board may establish 
through their bylaws, the directors may close a 
meeting of the Board if, at the meeting, there is 
likely to be disclosed information which could ad-
versely affect or lead to speculation relating to an in-
frastructure project under consideration for assist-
ance under this Act or in financial or securities or 
commodities markets or institutions, utilities, or real 
estate. The determination to close any meeting of 
the Board shall be made in a meeting of the Board, 
open to the public, and preceded by reasonable no-
tice. The Board shall prepare minutes of any meet-
ing which is closed to the public and make such min-
utes available as soon as the considerations necessi-
tating closing such meeting no longer apply. 
SEC. 5. POWERS AND LIMITATIONS OF THE BOARD. 
(a) POWERS.—In order to carry out the purposes of 
the Bank as set forth in this Act, the Board shall be re-
sponsible for monitoring and overseeing infrastructure 
projects and have the following powers: 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00013
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(1) To review infrastructure projects rec-
ommended by the officers of the Bank and select in-
frastructure projects using a cost-benefit analysis. 
(2) To make senior and subordinated direct 
loans on such terms as the Board may determine, in 
the Board’s discretion, to be appropriate to assist in 
the financing or refinancing of an infrastructure 
project. 
(3) To make loan guarantees on such terms as 
the Board may determine, in the Board’s discretion, 
to be appropriate to assist in the financing or refi-
nancing of an infrastructure project. 
(4) To make agreements and contracts with any 
entity in furtherance of the business of the Bank. 
(5) To monitor and oversee infrastructure 
projects financed, in whole or in part, by the Bank. 
(6) To sue and be sued in the Bank’s capacity 
in any court of competent jurisdiction, except that 
no attachment, injunction, or similar process, may 
be issued against the property of the Bank or 
against the Bank with respect to such property. 
(7) To indemnify the directors and officers of 
the Bank for liabilities arising out of the actions of 
the directors and officers in such capacity, in accord-
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00014
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
ance with, and subject to the limitations contained 
in, this Act. 
(8) To serve as the primary liaison between the 
Bank and the Congress, the executive branch, and 
State and local governments, and to represent the 
Bank’s interests. 
(9) To exercise all other lawful powers which 
are necessary or appropriate to carry out, and are 
consistent with, the purposes of the Bank. 
(b) PROTECTIONS.—Prior to providing any financial 
assistance for an infrastructure project involving recon-
struction, rehabilitation, replacement or expansion that 
may impact current workers and mechanics on the project 
site, the interests of workers and mechanics affected by 
the financial assistance shall be protected, including the 
following interests: 
(1) The preservation of rights, privileges, and 
benefits, including continuation of pension rights 
and benefits, under existing collective bargaining 
agreements or otherwise. 
(2) The continuation of collective bargaining 
rights. 
(3) The retention of paid training or retraining 
programs. 
VerDate Sep 11 2014 
02:19 Jul 31, 2021
Jkt 019200
PO 00000
Frm 00015
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(4) The protection of workers and mechanics 
against a worsening of their positions with respect to 
employment. 
(5) Protection from displacement if an ongoing 
project receives partial or full funding from the 
Bank, excepting any preexisting contractual agree-
ments about performance related displacement. 
(c) COORDINATION WITH STATE AND LOCAL REGU-
LATORY AUTHORITY.—The provision of financial assist-
ance by the Board pursuant to this Act shall not be con-
strued as otherwise superseding any State law or regula-
tion applicable to a project. 
(d) FEDERAL PERSONNEL REQUESTS.—The Board 
shall have the power to request the detail, on a reimburs-
able basis, of personnel from other Federal agencies with 
specific expertise not available from within the Bank or 
elsewhere. The head of any Federal agency may detail, 
on a reimbursable basis, any personnel of such agency re-
quested by the Board and shall not withhold unreasonably 
the detail of any personnel requested by the Board. 
SEC. 6. EXECUTIVE COMMITTEE. 
(a) IN GENERAL.—The Board shall establish an Ex-
ecutive Committee consisting of 9 members, headed by the 
chief executive officer of the Bank. 
VerDate Sep 11 2014 
02:19 Jul 31, 2021
Jkt 019200
PO 00000
Frm 00016
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(b) CEO.—A majority of the Board shall have the 
authority to appoint and reappoint the chief executive offi-
cer with such executive functions, powers, and duties as 
may be prescribed by this Act, the bylaws of the Bank, 
or the Board. 
(c) CEO RESPONSIBILITIES.—The CEO shall have 
responsibility for the development and implementation of 
the strategy of Bank, including— 
(1) the development and submission to the 
Board of the annual business plans and budget; 
(2) the development and submission to the 
Board of a long-term strategic plan; and 
(3) the development, revision, and submission 
to the Board of Directors of internal policies. 
(d) OTHER EXECUTIVE OFFICERS.—The Board shall 
appoint, remove, fix the compensation, and define duties 
of 8 other executive officers to serve on the Executive 
Committee as the— 
(1) chief compliance officer; 
(2) chief financial officer; 
(3) chief asset and liability management officer; 
(4) chief loan origination officer; 
(5) chief operations officer; 
(6) chief risk officer; 
(7) chief treasury officer; and 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00017
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(8) general counsel. 
(e) QUALIFICATIONS.—The CEO shall have experi-
ence and expertise in finance and the other executive offi-
cers shall have demonstrated experience and expertise in 
one or more of the following: 
(1) Transportation infrastructure. 
(2) Environmental infrastructure. 
(3) Energy infrastructure. 
(4) Telecommunications infrastructure. 
(5) Economic development. 
(6) Workforce development. 
(7) Public health. 
(8) Private or public finance. 
(f) DUTIES.—In order to carry out the purposes of 
the Bank as set forth in this Act, the Executive Committee 
shall— 
(1) establish and submit to the Board disclo-
sure and application procedures for entities nomi-
nating projects for assistance under this Act; 
(2) establish and submit to the Board standard-
ized terms and conditions, fee schedules, or legal re-
quirements of a contract or program to carry out 
this Act; 
(3) establish and submit to the Board guide-
lines for the selection and approval of projects and 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00018
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
specific criteria for determining eligibility for project 
selection; 
(4) accept, for consideration, project proposals 
relating to the development of infrastructure 
projects, which meet the basic criteria established by 
the Executive Committee, and which are submitted 
by an entity; 
(5) provide recommendations to the Board and 
place project proposals accepted by the Executive 
Committee on a list for consideration for financial 
assistance from the Board; and 
(6) provide technical assistance, including pub-
lic-private partnership infrastructure project value 
for money assessments, long-term economic benefit 
projections, and contract evaluations, to entities re-
ceiving financing from the Bank and otherwise im-
plement decisions of the Board. 
(g) VACANCY.—A vacancy in the position of CEO and 
other executive officers of the Executive Committee shall 
be filled in the manner in which the original appointment 
was made. 
(h) COMPENSATION.—The compensation of the CEO 
and other executive officers of the Executive Committee 
shall be determined by the Board. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00019
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(i) REMOVAL.—The CEO and other executive officers 
of the Executive Committee may be removed at the discre-
tion of a majority of the Board. 
(j) TERM.—The CEO and other executive officers of 
the Executive Committee shall serve a 6-year term and 
may be reappointed in accordance with this section. 
(k) LIMITATIONS.—The CEO and other executive of-
ficers of the Executive Committee shall not— 
(1) hold any other public office; 
(2) have any interest in an infrastructure 
project considered by the Board; 
(3) have any interest in an investment institu-
tion, commercial bank, or other entity seeking finan-
cial assistance for any infrastructure project from or 
investing in the Bank; and 
(4) have any such interest during the 2-year pe-
riod beginning on the date such officer ceases to 
serve in such capacity. 
SEC. 7. RISK MANAGEMENT COMMITTEE. 
(a) ESTABLISHMENT OF RISK MANAGEMENT COM-
MITTEE.—The Board shall establish a risk management 
committee consisting of 5 members, headed by the chief 
risk officer. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00020
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(b) APPOINTMENTS.—A majority of the Board shall 
have the authority to appoint and reappoint the CRO of 
the Bank. 
(c) FUNCTIONS; DUTIES.— 
(1) IN GENERAL.—The CRO shall have such 
functions, powers, and duties as may be prescribed 
by one or more of the following: This Act, the by-
laws of the Bank, and the Board. The CRO shall re-
port directly to the Board. 
(2) RISK MANAGEMENT DUTIES.—In order to 
carry out the purposes of this Act, the risk manage-
ment committee shall— 
(A) create financial, credit, and operational 
risk management guidelines and policies to be 
adhered to by the Bank; 
(B) set guidelines to ensure diversification 
of lending activities by both geographic region 
and infrastructure project type; 
(C) create conforming standards for all fi-
nancial assistance provided by the Bank; 
(D) monitor financial, credit and oper-
ational exposure of the Bank; and 
(E) provide financial recommendations to 
the Board. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00021
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(d) OTHER RISK MANAGEMENT OFFICERS.—The 
Board shall appoint, remove, fix the compensation, and 
define the duties of 4 other risk management officers to 
serve on the risk management committee. 
(e) QUALIFICATIONS.—The CRO and other risk man-
agement officers shall have demonstrated experience and 
expertise in one or more of the following: 
(1) Treasury and asset and liability manage-
ment. 
(2) Investment regulations. 
(3) Insurance. 
(4) Credit risk management and credit evalua-
tions. 
(5) Related disciplines. 
(f) VACANCY.—A vacancy in the position of CRO and 
other risk management officers of the risk management 
committee shall be filled in the manner in which the origi-
nal appointment was made. 
(g) COMPENSATION.—The compensation of the CRO 
and other risk management officers of the risk manage-
ment committee shall be determined by the Board. 
(h) REMOVAL.—The CRO and other risk manage-
ment officers of the risk management committee may be 
removed at the discretion of a majority of the Board. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00022
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(i) TERM.—The CRO and other risk management of-
ficers of the risk management committee shall serve a 6- 
year term and may be reappointed in accordance with this 
section. 
(j) LIMITATIONS.—The CRO and other risk manage-
ment officers of the risk management committee shall 
not— 
(1) hold any other public office; 
(2) have any interest in an infrastructure 
project considered by the Board; 
(3) have any interest in an investment institu-
tion, commercial bank, or other entity seeking finan-
cial assistance for any infrastructure project from or 
investing in the Bank; and 
(4) have any such interest during the 2-year pe-
riod beginning on the date such officer ceases to 
serve in such capacity. 
SEC. 8. AUDIT COMMITTEE; COMPLIANCE OFFICE. 
(a) IN GENERAL.—The Bank shall establish— 
(1) a compliance office to carry out oversight of 
the Bank’s compliance with sections 10 and 11; and 
(2) an audit committee consisting of 5 mem-
bers, headed by the chief compliance officer of the 
Bank. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00023
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(b) APPOINTMENTS.—A majority of the Board shall 
have the authority to appoint and reappoint the CCO of 
the Bank. 
(c) FUNCTIONS; DUTIES.—The CCO shall have such 
functions, powers, and duties as may be prescribed by one 
or more of the following: This Act, the bylaws of the Bank, 
and the Board. The CCO shall report directly to the 
Board. 
(d) AUDIT DUTIES.—In order to carry out the pur-
poses of the Bank under this Act, the audit committee 
shall— 
(1) provide internal controls and internal audit-
ing activities for the Bank; 
(2) maintain responsibility for the accounting 
activities of the Bank; 
(3) issue financial reports of the Bank; and 
(4) complete reports with outside auditors and 
public accountants appointed by the Board. 
(e) OTHER AUDIT OFFICERS.—The Board shall ap-
point, remove, fix the compensation, and define the duties 
of 4 other audit officers to serve on the audit committee. 
(f) QUALIFICATIONS.—The CCO and other audit offi-
cers shall have demonstrated experience and expertise in 
one or more of the following: 
(1) Internal auditing. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00024
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(2) Internal investigations. 
(3) Accounting practices. 
(4) Financing practices. 
(g) VACANCY.—A vacancy in the position of CCO and 
other audit officers of the audit committee shall be filled 
in the manner in which the original appointment was 
made. 
(h) COMPENSATION.—The compensation of the CCO 
and other audit officers of the audit committee shall be 
determined by the Board. 
(i) REMOVAL.—The CCO and other audit officers of 
the audit committee may be removed at the discretion of 
a majority of the Board. 
(j) TERM.—The CCO and other audit officers of the 
audit committee shall serve a 6-year term and may be re-
appointed in accordance with this section. 
(k) LIMITATIONS.—The CCO and other audit officers 
of the audit committee shall not— 
(1) hold any other public office; 
(2) have any interest in an infrastructure 
project considered by the Board; 
(3) have any interest in an investment institu-
tion, commercial bank, or other entity seeking finan-
cial assistance for any infrastructure project from or 
investing in the Bank; and 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00025
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(4) have any such interest during the 2-year pe-
riod beginning on the date such officer ceases to 
serve in such capacity. 
SEC. 9. PERSONNEL. 
The chairperson of the Board, chief executive officer, 
chief risk officer, and chief compliance officer shall ap-
point, remove, fix the compensation of, and define the du-
ties of such qualified personnel to serve under the Board, 
Executive Committee, risk management committee, or 
audit committee, as the case may be, as necessary and 
prescribed by one or more of the following: This Act, the 
bylaws of the Bank, and the Board. 
SEC. 10. ELIGIBILITY CRITERIA FOR ASSISTANCE FROM 
BANK. 
(a) IN GENERAL.—To be eligible for financial assist-
ance from the Bank, an infrastructure project— 
(1) shall have a public benefit, as determined by 
the Board; and 
(2) may not have a sole use or purpose that is 
private. 
(b) ESTABLISHMENT OF PROJECT CRITERIA.— 
(1) IN GENERAL.—Consistent with the require-
ments of subsections (c) and (d), the Board shall ap-
prove— 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00026
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(A) criteria for determining eligibility for 
financial assistance established by the Executive 
Committee under this Act; 
(B) revisions to criteria for determining 
eligibility for financial assistance established by 
the Executive Committee of the bank; 
(C) the weight given to factors to be taken 
into account established by the Executive Com-
mittee; 
(D) disclosure and application procedures 
to be followed by entities to nominate projects 
for assistance established by the Executive 
Committee of the bank; and 
(E) such other criteria as the Board may 
consider to be appropriate. 
(2) FACTORS TO BE TAKEN INTO ACCOUNT.— 
(A) IN
GENERAL.—The Executive Com-
mittee of the bank shall conduct an analysis 
that takes into account the economic, environ-
mental, and social benefits, and costs of each 
project under consideration for financial assist-
ance under this Act, prioritizing projects that 
contribute to economic growth, lead to job cre-
ation, and are of regional or national signifi-
cance. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00027
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(B) CRITERIA.—The criteria established 
pursuant to paragraph (1)(A) shall provide for 
the consideration of the following factors in 
considering eligibility for financial assistance 
under this Act: 
(i) The means by which development 
of the infrastructure project under consid-
eration is being financed, including— 
(I) the terms and conditions and 
financial structure of the proposed fi-
nancing; 
(II) the credit worthiness and 
standing of the project sponsors, pro-
viders of equity, and cofinanciers; 
(III) the financial assumptions 
and projections on which the project 
is based; and 
(IV) the extent to which the in-
frastructure project maximizes invest-
ment from other sources. 
(ii) The likelihood that the provision 
of assistance by the Bank will cause such 
development to proceed more promptly and 
with lower costs for financing than would 
be the case without such assistance. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00028
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(iii) The extent to which the provision 
of assistance by the Bank maximizes the 
level of private investment in the infra-
structure project while providing a public 
benefit. 
(C) DEDICATED REVENUE SOURCES.—Any 
financial 
assistance 
for 
an 
infrastructure 
project shall be repayable, in whole or in part, 
from dedicated revenue sources that also secure 
the infrastructure project obligations. 
(D) 
AMOUNT
OF
FINANCIAL
ASSIST-
ANCE.—The amount of financial assistance 
under this Act shall be determined by the 
Board. 
(c) PUBLIC INPUT.—In developing proposed infra-
structure project criteria and conducting reviews of infra-
structure project criteria for the Board, the Executive 
Committee shall seek input from the public including 
views related to— 
(1) the weight given to different factors to be 
taken into account; 
(2) measuring whether projects are meeting ap-
proved criteria; and 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00029
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(3) any other input considered by the Executive 
Committee and the public for the purposes of car-
rying out this Act. 
(d) FACTORS FOR SPECIFIC TYPES OF PROJECTS.— 
(1) 
TRANSPORTATION
INFRASTRUCTURE 
PROJECTS.—For any transportation infrastructure 
project, the Board shall consider the following: 
(A) Job creation, including workforce de-
velopment for women and minorities, respon-
sible employment practices, and targeted job 
training and employment opportunities for low 
income workers. 
(B) Reduction in greenhouse gases. 
(C) Reduction in surface and air traffic 
congestion. 
(D) Use of smart tolling, such as vehicle 
miles traveled and congestion pricing, for high-
way, road, and bridge projects. 
(E) Increased access to transportation op-
tions. 
(F) Increased safety of transportation sys-
tems for motorized and non-motorized users. 
(G) Public health benefits, including the 
removal of lead coatings or other hazardous 
chemicals and materials. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00030
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(H) Reduction in risk of structural failure 
over the service life of the project. 
(2) 
ENVIRONMENTAL
INFRASTRUCTURE 
PROJECT.—For any environmental infrastructure 
project, the Board shall consider the following: 
(A) Job creation, including workforce de-
velopment for women and minorities, respon-
sible employment practices, and targeted job 
training and employment opportunities for low 
income workers. 
(B) Public health benefits, including the 
removal of lead coatings or other hazardous 
materials. 
(C) Pollution reductions. 
(D) Reductions in greenhouse gas. 
(E) Increased coastal and inland flood 
mitigation and protection. 
(F) Reduction in risk of structural failure 
over the service life of the project. 
(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 targeted job 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00031
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
training and employment opportunities for low 
income workers. 
(B) Reduction in greenhouse gas. 
(C) Expanded use of renewable energy. 
(D) Development of a smart grid. 
(E) Energy efficient building, housing, and 
school modernization, including renewable en-
ergy designated retrofits. 
(F) In any case in which the project is also 
a public housing project— 
(i) improvement of the physical shape 
and layout; 
(ii) environmental improvement; and 
(iii) mobility improvements for resi-
dents. 
(G) Public health benefits including the re-
moval of lead coatings or other hazardous 
chemicals and materials. 
(H) Reduction in risk of structural failure 
over the service life of the project. 
(4) TELECOMMUNICATIONS.—For any tele-
communications project, the Board shall consider 
the following: 
(A) Job creation, including workforce de-
velopment for women and minorities, respon-
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00032
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
sible employment practices, and targeted job 
training and employment opportunities for low 
income workers. 
(B) The extent to which assistance ex-
pands or improves broadband and wireless serv-
ices in rural and disadvantaged communities. 
(e) CONSIDERATION OF PROJECT PROPOSALS.— 
(1) PARTICIPATION
BY
OTHER
AGENCY
PER-
SONNEL.—Consideration of a project under this sec-
tion by the Executive Committee and the Board 
shall be conducted with personnel on detail to the 
Bank from relevant Federal agencies among individ-
uals who are familiar with and experienced in the se-
lection 
criteria 
for 
competitive 
infrastructure 
projects. 
(2) FEES.—The Bank may charge a fee for the 
review of any project proposal in such amount as 
may be considered appropriate by the Executive 
Committee approved by the Board to cover the cost 
of such review. 
(f) DISCRETION OF BOARD.—Consistent with other 
provisions of this Act, any determination of the Board to 
provide assistance to any infrastructure project, and the 
manner in which such assistance is provided, including the 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00033
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
terms, conditions, fees, and charges shall be at the sole 
discretion of the Board. 
(g) STATE AND LOCAL PERMITS REQUIRED.—The 
provision of assistance by the Board in accordance with 
this Act shall not be deemed to relieve any recipient of 
assistance or the related infrastructure project of any obli-
gation to obtain required State and local permits and ap-
provals. 
(h) ANNUAL REPORT.—An entity receiving assist-
ance from the Board shall make annual reports to the 
Board on the use of any such assistance, compliance with 
the criteria set forth in this section, and a disclosure of 
all entities with a development, ownership, or operational 
interest in a infrastructure project assisted or proposed 
to be assisted under this Act. 
SEC. 11. STATUS AND APPLICABILITY OF CERTAIN FED-
ERAL LAWS. 
(a) COMPLIANCE WITH DAVIS-BACON ACT.—All la-
borers and mechanics employed by contractors and sub-
contractors on infrastructure projects funded directly by 
or assisted in whole or in part by and through the Bank 
pursuant to this Act shall be paid wages at rates not less 
than those prevailing on projects of a character similar 
in the locality as determined by the Secretary of Labor 
in accordance with subchapter IV of chapter 31 of part 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00034
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
A of title 40, United States Code. With respect to the 
labor standards specified in this section, the Secretary of 
Labor shall have the authority and functions set forth in 
Reorganization Plan Numbered 14 of 1950 (64 Stat. 
1267; 5 U.S.C. App.) and section 3145 of title 40, United 
States Code. 
(b) NO PRIORITY AS A FEDERAL CLAIM.—The pri-
ority established in favor of the United States by section 
3713 of title 31, United States Code, shall not apply with 
respect to any indebtedness of the Bank. 
(c) COMPLIANCE WITH GRANT REQUIREMENTS.— 
Recipients of financial assistance authorized under this 
Act that funds public transportation capital projects, as 
defined in section 5302 of title 49, United States Code, 
must comply with the grant requirements applicable to 
grants made under section 5309 of such title. 
SEC. 12. DOMESTIC CONTENT STATUTES. 
(a) IN GENERAL.—The financing provided for an in-
frastructure project shall be in accordance with the fol-
lowing statutory provisions of the United States Code 
under the jurisdiction of the Department of Transpor-
tation, as applicable to the project: 
(1) Section 24305 of title 49, United States 
Code. 
(2) Section 313 of title 23, United States Code. 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00035
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(3) Section 5323(j) of title 49, United States 
Code. 
(4) Section 24405 of title 49, United States 
Code. 
(5) Sections 50101 and 50105 of title 49, 
United States Code. 
(b) USE
OF IRON, STEEL, AND MANUFACTURED 
GOODS IN INFRASTRUCTURE PROJECTS.—For any infra-
structure project financed under this Act that is not cov-
ered under subsection (a), the following requirements shall 
apply: 
(1) BUY AMERICA.—No amount loaned or guar-
anteed by the Bank may be used for a public infra-
structure project unless all of the iron, steel, and 
manufactured goods used for the construction, alter-
ation, maintenance or repair of the project are pro-
duced in the United States. 
(2) EXCEPTION.—Paragraph (1) shall not 
apply in any case or category of cases in which the 
Secretary of the Treasury finds that— 
(A) applying paragraph (1) would be in-
consistent with the public interest; 
(B) iron, steel, and the relevant manufac-
tured goods are not produced in the United 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00036
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
States in sufficient and reasonably available 
quantities and of a satisfactory quality; or 
(C) inclusion of iron, steel, and manufac-
tured goods produced in the United States will 
increase the cost of the overall infrastructure 
project by more than 25 percent. 
(3) PUBLICATION
OF
WAIVERS.—If the Sec-
retary of the Treasury determines that it is nec-
essary to waive the application of paragraph (1) 
based on a finding under paragraph (2), the Treas-
ury Secretary shall publish in the Federal Register 
a detailed written justification as to why the provi-
sion is being waived. 
(4) APPLICATION
OF
SECTION.—This section 
shall be applied in a manner consistent with the 
United States obligations under international agree-
ments. 
(5) CONSULTATIONS.—The Board may consult 
with the Secretary of Transportation and other Fed-
eral Secretaries and Administrators when applying 
this section. 
SEC. 13. AUDITS; REPORTS TO PRESIDENT AND CONGRESS. 
(a) ACCOUNTING.—The books of account of the Bank 
shall be maintained in accordance with generally accepted 
accounting principles and shall be subject to an annual 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00037
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
audit by independent public accountants appointed by the 
Board and of nationally recognized standing. 
(b) REPORTS.— 
(1) BOARD.—The Board shall submit to the 
President and Congress, within 90 days after the 
last day of each fiscal year, a complete and detailed 
report with respect to the preceding fiscal year, set-
ting forth— 
(A) a summary of the Bank’s operations, 
for such preceding fiscal year; 
(B) a schedule of the Bank’s obligations 
outstanding at the end of such preceding fiscal 
year, with a statement of the amounts issued 
and redeemed or paid during such preceding 
fiscal year; and 
(C) the status of infrastructure projects re-
ceiving funding or other assistance pursuant to 
this Act, including disclosure of all entities with 
a development, ownership, or operational inter-
est in such projects. 
(2) GAO.—Not later than 5 years after the 
date of enactment of this Act, the Comptroller Gen-
eral of the United States shall submit to Congress 
a report evaluating activities of the Bank for the fis-
cal years covered by the report that includes— 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00038
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
(A) an assessment of the impact and bene-
fits of each funded infrastructure project, in-
cluding a review of how effectively each project 
accomplished the goals prioritized by the 
Bank’s project criteria; and 
(B) an assessment of the Bank’s funding 
mechanisms in comparison with other available 
funding mechanisms, with a focus on ensuring 
self-sustainability of the Bank. 
(c) BOOKS AND RECORDS.— 
(1) IN
GENERAL.—The Bank shall maintain 
adequate books and records to support the financial 
transactions of the Bank with a description of finan-
cial transactions and infrastructure projects receiv-
ing funding, and the amount of funding for each 
project maintained on a publicly accessible database. 
(2) PUBLIC
COMMENT
PERIOD.—The Bank 
shall post infrastructure financing agreements on 
the database providing 30 days for public comments 
before providing final financing for the infrastruc-
ture project. 
(3) AUDITS BY THE SECRETARY AND GAO.— 
The books and records of the Bank shall be main-
tained in accordance with recommended accounting 
practices and shall be open to inspection by the Sec-
VerDate Sep 11 2014 
02:19 Jul 31, 2021
Jkt 019200
PO 00000
Frm 00039
Fmt 6652
Sfmt 6201
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS
retary and the Comptroller General of the United 
States. 
SEC. 14. AUTHORIZATION OF APPROPRIATIONS. 
There 
is 
authorized 
to 
be 
appropriated 
$5,000,000,000 for each of fiscal years 2022 through 
2026 to capitalize the Bank and to remain available until 
expended. 
Æ 
VerDate Sep 11 2014 
04:13 Jul 27, 2021
Jkt 019200
PO 00000
Frm 00040
Fmt 6652
Sfmt 6301
E:\BILLS\H4413.IH
H4413
pbinns on DSKJLVW7X2PROD with BILLS