Bill

Bill > HR1700


US HR1700

US HR1700
Broadband Infrastructure Finance and Innovation Act of 2021


summary

Introduced
03/09/2021
In Committee
03/10/2021
Crossed Over
Passed
Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL To establish a broadband infrastructure finance and innova- tion program to make available loans, loan guarantees, and lines of credit for the construction and deployment of broadband infrastructure, and for other purposes.

AI Summary

This bill establishes the Broadband Infrastructure Finance and Innovation (BIFIA) program to make available loans, loan guarantees, and lines of credit for the construction and deployment of broadband infrastructure. The key provisions of the bill include: - Defining eligibility criteria for projects to receive credit assistance, such as meeting creditworthiness standards, having dedicated revenue sources, and demonstrating public sponsorship. - Establishing the application process and selection criteria for eligible projects, including preferences for open-access networks. - Authorizing the Assistant Secretary to provide secured loans, lines of credit, and loan guarantees to finance eligible project costs. - Requiring compliance with federal requirements like the Civil Rights Act, National Environmental Policy Act, and prevailing wage laws. - Authorizing $5 billion in appropriations for the BIFIA program, with up to 5% for administrative expenses. - Requiring biennial reports to Congress on the financial performance of funded projects and the overall program. The goal of the BIFIA program is to help expand access to high-speed broadband service across the United States, especially in areas that currently lack such access.

Committee Categories

Business and Industry

Sponsors (2)

Last Action

Referred to the Subcommittee on Communications and Technology. (on 03/10/2021)

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