National Infrastructure Development Bank Act of 2019
- Last Action
- 2/7/2019
Actions
- 2019-02-07Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
- 2019-02-07Referred to the Subcommittee on Aviation.
- 2019-02-07Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
- 2019-02-07Referred to the Subcommittee on Water Resources and Environment.
- 2019-02-07Referred to the Subcommittee on Highways and Transit.
- 2019-01-17Referred 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.
- 2019-01-17Referred 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.
- 2019-01-17Referred 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.
- 2019-01-17Referred 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.
- 2019-01-17Introduced in House
- 2019-01-17Introduced in House
CRS Summary
As of 2019-01-17 (00)
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.
Cosponsors (20)
- David Cicilline (D-RI)
- Judy Chu (D-CA)
- JOHN LARSON (D-CT)
- Salud Carbajal (D-CA)
- Dwight Evans (D-PA)
- Theodore Deutch (D-FL)
- TIM RYAN (D-OH)
- NYDIA VELAZQUEZ (D-NY)
- Mark Pocan (D-WI)
- DAVID PRICE (D-NC)
- Adriano Espaillat (D-NY)
- Debbie Dingell (D-MI)
- Donald Beyer (D-VA)
- Suzanne Bonamici (D-OR)
- Paul Tonko (D-NY)
- Brendan Boyle (D-PA)
- John Garamendi (D-CA)
- Peter Welch (D-VT)
- ZOE LOFGREN (D-CA)
- RICK LARSEN (D-WA)
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
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.