Bill > HR4315

This bill establishes the National Infrastructure Investment Corporation (NIIC), a government corporation designed to finance infrastructure projects that are beyond the financial capabilities of states and cities. The bill highlights the urgent need for infrastructure investment, noting that the American Society of Civil Engineers estimates $3.7 trillion is required to bring U.S. infrastructure to good working order. The corporation will be managed by a seven-member board appointed by the President and congressional leadership, with members required to have expertise in infrastructure, construction, financing, or related fields. The board will provide low-cost loans, loan guarantees, and bonds for infrastructure projects across sectors including transportation, energy, environment, and telecommunications. Funding will come from pension fund loans, with a cap of $5 billion per fiscal year and an interest rate between 3-4 percent. The corporation is required to submit annual reports to Congress, undergo regular audits by an Inspector General and the Government Accountability Office, and consult with local representatives about proposed projects. The bill aims to attract supplemental capital for infrastructure development, create jobs, support economic growth, and maintain the United States' global competitive edge by addressing critical infrastructure needs that current funding sources cannot fully support.

Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/house-bill/4315/all-info