summary
Introduced
06/13/2023
06/13/2023
In Committee
06/16/2023
06/16/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To facilitate efficient investments and financing of infrastructure projects and new job creation through the establishment of a National Infrastructure Bank, and for other purposes.
AI Summary
This bill establishes the National Infrastructure Bank to facilitate efficient investments and financing of infrastructure projects and new job creation. The key provisions include:
The bank will be a government corporation that can raise up to $500 billion in capital through the issuance of preferred stock, with dividends exempt from taxation. The bank can provide loans, loan guarantees, and issue bonds to finance a wide range of infrastructure projects, including transportation, energy, environmental, telecommunications, and community development projects. The bank is required to coordinate with regional economic planning groups to identify infrastructure needs and priorities. Projects must meet certain criteria such as promoting economic growth, job creation, environmental benefits, and assisting disadvantaged communities. The bank will be overseen by a 25-member Board of Directors and have an Executive Committee, Risk Management Committee, and Audit Committee. The bill also establishes a Special Inspector General to oversee the bank's operations. The bank is exempt from certain federal laws and regulations in order to facilitate its operations. Finally, the bill authorizes $50 million in funding for the initial organization of the bank.
Committee Categories
Agriculture and Natural Resources, Business and Industry, Transportation and Infrastructure
Sponsors (48)
Danny Davis (D)*,
Gabe Amo (D),
Brendan Boyle (D),
Julia Brownley (D),
Emanuel Cleaver (D),
Chris Deluzio (D),
Debbie Dingell (D),
Adriano Espaillat (D),
Dwight Evans (D),
Teresa Fernandez (D),
Maxwell Frost (D),
John Garamendi (D),
Chuy García (D),
Dan Goldman (D),
Raúl Grijalva (D),
Jonathan Jackson (D),
Pramila Jayapal (D),
Hank Johnson (D),
Marcy Kaptur (D),
Ro Khanna (D),
Dan Kildee (D),
Raja Krishnamoorthi (D),
Greg Landsman (D),
Barbara Lee (D),
Summer Lee (D),
Zoe Lofgren (D),
Stephen Lynch (D),
Seth Magaziner (D),
Jim McGovern (D),
Kevin Mullin (D),
Jerry Nadler (D),
Wiley Nickel (D),
Alexandria Ocasio-Cortez (D),
Jimmy Panetta (D),
Chellie Pingree (D),
Mark Pocan (D),
Delia Ramirez (D),
Pat Ryan (D),
Adam Smith (D),
Melanie Stansbury (D),
Tom Suozzi (D),
Eric Swalwell (D),
Shri Thanedar (D),
Rashida Tlaib (D),
Paul Tonko (D),
Ritchie Torres (D),
Gabe Vasquez (D),
Nydia Velázquez (D),
Last Action
Referred to the Subcommittee on Innovation, Data, and Commerce. (on 06/16/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/4052/all-info |
| BillText | https://www.congress.gov/118/bills/hr4052/BILLS-118hr4052ih.pdf |
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