Bill > S1716

This bill, known as the BRIDGE Act, aims to improve infrastructure and create jobs by establishing an Infrastructure Financing Authority (IFA). The IFA will be a government corporation responsible for providing direct loans and loan guarantees for economically viable infrastructure projects of regional or national significance, such as transportation networks, utilities, and water systems. The bill outlines the structure of the IFA, including a 7-member Board of Directors appointed by the President, and a Chief Executive Officer responsible for daily operations. It also details eligibility criteria for projects, emphasizing public benefit and requiring a minimum private investment for public-private partnerships. The IFA will be funded through fees, risk premiums, and an initial appropriation, with a goal of becoming self-sustaining. The bill also establishes an Office of Technical and Rural Assistance to support project development and a Special Inspector General to oversee the IFA's activities. Important terms defined include "eligible infrastructure project," which covers a wide range of infrastructure sectors, and "public-private partnership," referring to collaborations between public entities and private investors. The bill also includes provisions for loan terms, repayment, compliance, audits, and reporting to Congress.