National Infrastructure Development Act of 2004

Bill: 108-hr-3715
Sponsor: Rep. DeLauro, Rosa L. [D-CT-3]
Introduced: 2004-01-21 in the House
Policy area: Transportation and Public Works
Subjects: Accounting
Administrative fees
Airports
Auditing
Bridges
Building construction
Business records
Capital investments
Commerce
Congress
Congressional investigations
Congressional oversight
Congressional reporting requirements
Construction industries
Construction workers
Dividends
Economics and Public Finance
Elementary and secondary education
Environmental Protection
Executive reorganization
Federal-state relations
Federally-guaranteed loans
Fees
Finance and Financial Sector
Financial statements
Government Operations and Politics
Government contractors
Government corporations
Government insurance
Government lending
Government paperwork
Hazardous wastes
Income tax
Infrastructure
Infrastructure (Economics)
Insurance companies
Interest
Intermodal transportation
Investment guaranty insurance
Labor and Employment
Leases
Marine terminals
Mass rapid transit
Minimum wages
Mutual funds
Pension funds
Pollution control
Privatization
Public meetings
Public-private partnerships
Railroad engineering
Railroad freight operations
Railroad passenger traffic
Reinsurance
Revolving funds
Road construction
Roads and highways
School buildings
Securities
Sewage treatment
Sewerage
Strategic planning
Subsidiary corporations
Tax-exempt securities
Taxation
Terminals (Transportation)
Transportation engineering
Tunnels
Wages
Waste water treatment
Water Resources Development
Water treatment plants
Waterways

Summary:
action_date: 2004-01-21
text: 
National Infrastructure Development Act of 2004 - Establishes the National Infrastructure Development Corporation and the National Infrastructure Insurance Corporation as wholly owned Government corporations that shall conduct their respective businesses as self-supporting entities.
 
Empowers the National Infrastructure Development Corporation to make senior and subordinated loans and purchase senior and subordinated debt securities and equity securities, and to enter into commitments to make any such loan or security purchases, on such terms as the Corporation may determine, in its discretion, to be appropriate, the proceeds of which are to be used to finance or refinance development of infrastructure facilities, and to provide preconstruction phase assistance.
 
Empowers the National Infrastructure Insurance Corporation to insure and reinsure bonds, debentures, notes, debt instruments, loans, and any interest thereon, the proceeds of which are to be used to finance or refinance development of infrastructure facilities.
 

 
Declares that: (1) obligations of either Corporation, and obligations insured by any such corporation shall not be obligations of, or guaranteed as to principal or interest by, the United States or any Federal agency; and (2) assistance from the NIC shall not be treated as a direct or indirect guarantee of any payment by the United States of principal or interest on any security.
 
Amends the Internal Revenue Code to prescribe guidelines for the tax treatment of distributions from qualified retirement plans investing in public benefit bonds (defined as any obligation issued after the date of the enactment of this Act if: (1) 95 percent or more of the net proceeds of such obligation are used in connection with the financing or refinancing of infrastructure facilities; (2) such obligation has received a published rating, and (3) development of such infrastructure facilities is undertaken by a governmental entity or public-private partnership).


Legislative actions:
action_date: 2004-02-02
text: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, for a period to be subsequently determined by the Chairman.
action_date: 2004-01-22
text: Referred to the Subcommittee on Water Resources and Environment.
action_date: 2004-01-22
text: Referred to the Subcommittee on Highways, Transit and Pipelines.
action_date: 2004-01-21
text: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees 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 concerned.
action_date: 2004-01-21
text: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees 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 concerned.
action_date: 2004-01-21
text: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees 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 concerned.
action_date: 2004-01-21
text: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees 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 concerned.
action_date: 2004-01-21
text: Introduced in House
action_date: 2004-01-21
text: Introduced in House