Bill > S741

This bill establishes the Broadband Infrastructure Finance and Innovation Act of 2021, which creates a program to provide loans, loan guarantees, and lines of credit for the construction and deployment of broadband infrastructure. The key provisions include: - Defining eligibility criteria for projects, including creditworthiness standards and requirements for the projects to expand or improve access to high-speed broadband service in underserved areas or to certain community institutions and organizations. - Authorizing the Assistant Secretary of Commerce for Communications and Information to enter into agreements to provide secured loans, lines of credit, and loan guarantees to finance eligible project costs. - Establishing terms and limitations for the secured loans and lines of credit, such as repayment requirements, interest rates, and maximum federal involvement. - Requiring the Assistant Secretary to establish alternative, streamlined prudential lending standards for small projects to reduce risk to the federal government. - Appropriating $5 billion to the Assistant Secretary to carry out the program, with up to 5% allowed for administrative expenses. - Mandating regular reporting to Congress on the financial performance of projects receiving assistance and the application process for the program.

Transportation and Infrastructure

https://www.congress.gov/bill/117th-congress/senate-bill/741/all-info