National Infrastructure Development Bank Act of 2009

Bill: 111-hr-2521
Sponsor: Rep. DeLauro, Rosa L. [D-CT-3]
Introduced: 2009-05-20 in the House
Policy area: Government Operations and Politics
Subjects: Accounting and auditing
Air quality
Alternative and renewable resources
Bank accounts, deposits, capital
Broadcasting, cable, digital technologies
Economic development
Electric power generation and transmission
Employment and training programs
Energy efficiency and conservation
Energy storage, supplies, demand
Environmental health
Executive agency funding and structure
Federal preemption
Government corporations and government-sponsored enterprises
Government lending and loan guarantees
Infrastructure development
Intergovernmental relations
Public housing
Rural conditions and development
State and local taxation
Tax-exempt organizations
Telephone and wireless communication
Transportation programs funding
User charges and fees
Wages and earnings
Women's employment

Summary:
action_date: 2009-05-20
text: 
National Infrastructure Development Bank Act of 2009 - Establishes the National Infrastructure Development Bank as a wholly owned government corporation. 
 
 Makes the Bank's Board of Directors responsible for monitoring and overseeing energy, environmental, telecommunications, and transportation infrastructure projects. Authorizes the Board to: (1) issue public benefit bonds and provide direct subsidies to infrastructure projects; (2) borrow on the global capital market and lend to entities and commercial banks for funding infrastructure projects; and (3) purchase, pool, and sell infrastructure-related loans and securities on such market. Requires the Board to establish criteria for determining project eligibility for financial assistance under this Act. 
 
Sets forth the duties of the Bank's executive committee and audit committee.
 
Requires the Bank to establish a risk management committee, which shall: (1) create financial, credit, and operational risk management guidelines for the Bank; (2) set standards to ensure diversification of lending activities by both region and infrastructure project type; and (3) create conforming standards for infrastructure finance securities.
 
 Exempts all notes, debentures, bonds or other such obligations issued by the Bank, and the interest on or credits with respect to such bonds or other obligations, from state or local government taxation.
 
Terminates the Bank after 15 years.


Legislative actions:
action_date: 2009-05-21
text: Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
action_date: 2009-05-20
text: Referred to the Subcommittee on Water Resources and Environment.
action_date: 2009-05-20
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
action_date: 2009-05-20
text: Referred to the Subcommittee on Highways and Transit.
action_date: 2009-05-20
text: Referred to the Subcommittee on Coast Guard and Maritime Transportation.
action_date: 2009-05-20
text: Referred to the Subcommittee on Aviation.
action_date: 2009-05-20
text: Referred to House Financial Services
action_date: 2009-05-20
text: Referred to House Transportation and Infrastructure
action_date: 2009-05-20
text: 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 determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2009-05-20
text: Referred to House Energy and Commerce
action_date: 2009-05-20
text: Introduced in House
action_date: 2009-05-20
text: Introduced in House