US Congress House Bill 2553 (Prior Session Legislation)

---

Sponsorship: Partisan Bill (Democrat 104)
Status: Introduced on June 27 2013 - 25% progression, died in committee
Action: 2013-06-28 - Referred to the Subcommittee on Water Resources and Environment.
Pending: House Subcommittee on Water Resources and Environment Committee
Text: Latest bill text (Introduced) [PDF]

National Infrastructure Development Bank Act of 2013 - Establishes the National Infrastructure Development Bank as a wholly owned government corporation. Makes the Bank's Board of Directors responsible for monitoring and overseeing energy, environmental, telecommunications, and transportation infrastructure projects. Authorizes the Board to: (1) make senior and subordinated direct loans and loan guarantees to assist in the financing or refinancing of an infrastructure project, (2) issue public benefit bonds and provide financing to infrastructure projects, and (3) pay an interest subsidy to the issuer of American Infrastructure Bonds. Requires the Board to establish an Executive Committee, headed by the chief executive officer, to establish requirements and make recommendations for project proposals to be considered for financial assistance. Requires the Bank to establish a Risk Management Committee, headed by the chief risk officer, which shall: (1) create financial, credit, and operational risk management guidelines for the Bank; (2) set guidelines to ensure diversification of lending activities by both geographic region and infrastructure project type; (3) create conforming standards for all financial assistance provided by the Bank; (4) monitor financial, credit, and operational exposure of the Bank; (5) provide financial recommendations to the Board; and (6) ensure that the aggregate amount of interest subsidies provided for American Infrastructure Bonds in a given calendar year do not exceed 28% of interest payable under all such Bonds. Requires the Bank to establish an audit committee, headed by a chief compliance officer, to be responsible for auditing and accounting activities. Requires the Board to approve criteria established by the Executive Committee, with public input, for determining project eligibility for financial assistance. Sets forth criteria to be considered by the Board for each type of infrastructure project. Requires the Executive Committee to conduct an analysis that considers the economic, environmental, and social benefits and costs of each project under consideration, prioritizing projects that contribute to economic growth, lead to job creation, and are of regional or national significance. Requires any financial assistance for an infrastructure project to be repayable from dedicated revenue sources that also secure the infrastructure project obligations. Limits the amount of assistance under this Act to 50% of reasonably anticipated project costs. Exempts all bonds issued by the Bank, and the interest on or credits with respect to such bonds, from state or local government taxation. Sets forth requirements regarding compliance of assisted projects with wage rate, domestic content, and buy American statutes. Requires the Board to establish an American Infrastructure Bond program. Establishes in the Treasury the National Infrastructure Development Bank Trust Fund into which an amount estimated to equal the tax receipts attributable to interest payable under such Bonds is to be appropriated.

National Infrastructure Development Bank Act of 2013

Rep. Rosa DeLauro [D-CT]	Rep. Karen Bass [D-CA]	Rep. Joyce Beatty [D-OH]	Rep. Timothy Bishop [D-NY]
Rep. Earl Blumenauer [D-OR]	Rep. Suzanne Bonamici [D-OR]	Rep. Madeleine Bordallo [D-GU]	Rep. Bruce Braley [D-IA]
Rep. Lois Capps [D-CA]	Rep. Tony Cardenas [D-CA]	Rep. Andre Carson [D-IN]	Rep. Matthew Cartwright [D-PA]
Rep. Donna Christensen [D-VI]	Rep. Judy Chu [D-CA]	Rep. David Cicilline [D-RI]	Rep. Katherine Clark [D-MA]
Rep. Lacy Clay [D-MO]	Rep. Emanuel Cleaver [D-MO]	Rep. Steve Cohen [D-TN]	Rep. John Conyers [D-MI]
Rep. Joe Courtney [D-CT]	Rep. Suzan DelBene [D-WA]	Rep. Theodore Deutch [D-FL]	Rep. Michael Doyle [D-PA]
Sen. Tammy Duckworth [D-IL]	Rep. Keith Ellison [D-MN]	Rep. Anna Eshoo [D-CA]	Rep. Elizabeth Esty [D-CT]
Rep. Sam Farr [D-CA]	Rep. Chaka Fattah [D-PA]	Rep. Bill Foster [D-IL]	Rep. John Garamendi [D-CA]
Rep. Al Green [D-TX]	Rep. Gene Green [D-TX]	Rep. Raul Grijalva [D-AZ]	Rep. Denny Heck [D-WA]
Rep. James Himes [D-CT]	Rep. Rush Holt [D-NJ]	Rep. Michael Honda [D-CA]	Rep. Jared Huffman [D-CA]
Rep. Steve Israel [D-NY]	Rep. Henry Johnson [D-GA]	Rep. Marcy Kaptur [D-OH]	Rep. William Keating [D-MA]
Rep. Robin Kelly [D-IL]	Rep. Daniel Kildee [D-MI]	Rep. Derek Kilmer [D-WA]	Rep. Ann Kirkpatrick [D-AZ]
Rep. Ann Kuster [D-NH]	Rep. James Langevin [D-RI]	Rep. Rick Larsen [D-WA]	Rep. John Larson [D-CT]
Rep. Barbara Lee [D-CA]	Rep. Sander Levin [D-MI]	Rep. Daniel Lipinski [D-IL]	Rep. Zoe Lofgren [D-CA]
Rep. Alan Lowenthal [D-CA]	Rep. Nita Lowey [D-NY]	Rep. Stephen Lynch [D-MA]	Rep. Daniel Maffei [D-NY]
Rep. Doris Matsui [D-CA]	Rep. Betty McCollum [D-MN]	Rep. Jim McDermott [D-WA]	Rep. James McGovern [D-MA]
Rep. Grace Meng [D-NY]	Rep. Michael Michaud [D-ME]	Rep. George Miller [D-CA]	Rep. Gwen Moore [D-WI]
Rep. James Moran [D-VA]	Rep. Grace Napolitano [D-CA]	Rep. Richard Nolan [D-MN]	Rep. Eleanor Norton [D-DC]
Rep. Bill Pascrell [D-NJ]	Sen. Gary Peters [D-MI]	Rep. Chellie Pingree [D-ME]	Rep. Mark Pocan [D-WI]
Rep. David Price [D-NC]	Rep. Cedric Richmond [D-LA]	Rep. Bobby Rush [D-IL]	Rep. Tim Ryan [D-OH]
Rep. Linda Sanchez [D-CA]	Rep. John Sarbanes [D-MD]	Rep. Janice Schakowsky [D-IL]	Sen. Adam Schiff [D-CA]
Rep. Allyson Schwartz [D-PA]	Rep. Robert Scott [D-VA]	Rep. Carol Shea-Porter [D-NH]	Rep. Brad Sherman [D-CA]
Rep. Albio Sires [D-NJ]	Rep. Louise Slaughter [D-NY]	Rep. Jackie Speier [D-CA]	Rep. Mark Takano [D-CA]
Rep. Mike Thompson [D-CA]	Rep. John Tierney [D-MA]	Rep. Dina Titus [D-NV]	Rep. Paul Tonko [D-NY]
Sen. Chris Van Hollen [D-MD]	Rep. Marc Veasey [D-TX]	Rep. Peter Visclosky [D-IN]	Rep. Timothy Walz [D-MN]
Rep. Melvin Watt [D-NC]	Sen. Peter Welch [D-VT]	Rep. Frederica Wilson [D-FL]	Rep. John Yarmuth [D-KY]

Date	Chamber	Action
2013-06-28	House	Referred to the Subcommittee on Water Resources and Environment.
2013-06-28	House	Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
2013-06-28	House	Referred to the Subcommittee on Highways and Transit.
2013-06-28	House	Referred to the Subcommittee on Coast Guard and Maritime Transportation.
2013-06-28	House	Referred to the Subcommittee on Aviation.
2013-06-28	House	Referred to the Subcommittee on Commerce, Manufacturing, and Trade.
2013-06-27	House	Referred to House Ways and Means
2013-06-27	House	Referred to House Financial Services
2013-06-27	House	Referred to House Transportation and Infrastructure
2013-06-27	House	Referred to House Energy and Commerce
2013-06-27	House	Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/2553/all-info
Text	https://www.congress.gov/113/bills/hr2553/BILLS-113hr2553ih.pdf