National Infrastructure Development Bank Act of 2019

Bill: 116-hr-658
Sponsor: Rep. DeLauro, Rosa L. [D-CT-3]
Introduced: 2019-01-17 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
Buy American requirements
Climate change and greenhouse gases
Dams and canals
Economic development
Educational facilities and institutions
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
Floods and storm protection
Government corporations and government-sponsored enterprises
Government lending and loan guarantees
Government trust funds
Hazardous wastes and toxic substances
Health facilities and institutions
Infrastructure development
Intergovernmental relations
Metals
Public housing
Public-private cooperation
Rural conditions and development
Securities
Solid waste and recycling
State and local taxation
Tax-exempt organizations
Telephone and wireless communication
Transportation programs funding
Transportation safety and security
User charges and fees
Wages and earnings
Water quality
Water use and supply
Wetlands
Women's employment

Summary:
action_date: 2019-01-17
text: 

National Infrastructure Development Bank Act of 2019

 
This bill establishes the National Infrastructure Development Bank as a government corporation to finance energy, environmental (e.g., drinking water or waste facilities), telecommunications, and transportation infrastructure projects. The National Infrastructure Development Bank Board, established by this bill, must oversee the projects. The board may make loans and loan guarantees to assist in financing infrastructure projects.
 
In addition, the board must establish an American Infrastructure Bond program. Under the program, the board may subsidize interest payments by the issuers of state or local bonds. The bill establishes the National Infrastructure Development Bank Trust Fund and appropriates to the fund an amount equal to the tax receipts attributable to interest payable under the bonds.
 
With the approval of the Department of the Treasury, the board may issue public benefit bonds to provide financing to infrastructure projects.
 
The bill exempts bonds issued by the bank, and the interest on or credits with respect to the bonds, from state or local government taxation.
 
Financial assistance for an infrastructure project must be repayable from dedicated revenue sources that also secure the infrastructure project obligations. The assistance may not exceed 50% of reasonably anticipated project costs.


Legislative actions:
action_date: 2019-02-07
text: Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
action_date: 2019-02-07
text: Referred to the Subcommittee on Aviation.
action_date: 2019-02-07
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
action_date: 2019-02-07
text: Referred to the Subcommittee on Water Resources and Environment.
action_date: 2019-02-07
text: Referred to the Subcommittee on Highways and Transit.
action_date: 2019-01-17
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, 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: 2019-01-17
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, 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: 2019-01-17
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, 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: 2019-01-17
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, 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: 2019-01-17
text: Introduced in House
action_date: 2019-01-17
text: Introduced in House