US Congress House Bill 3337 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 98-0)
Status: Introduced on July 29 2015 - 25% progression, died in committee
Action: 2015-07-31 - Referred to the Subcommittee on Energy and Power.
Pending: House Subcommittee on Energy and Power Committee
Text: Latest bill text (Introduced) [PDF]

National Infrastructure Development Bank Act of 2015 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 to establish requirements and make recommendations for project proposals to be considered for financial assistance. Requires the Bank to establish a Risk Management Committee, which shall: (1) create financial, credit, and operational risk management guidelines for the Bank; (2) set guidelines to ensure diversification of lending activities by 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 does not exceed 28% of interest payable under all such Bonds. Requires the Bank to establish an audit committee. Requires the Board to approve criteria established by the Executive Committee 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 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 2015

Rep. Rosa DeLauro [D-CT]	Rep. Brendan Boyle [D-PA]	Rep. Lois Capps [D-CA]	Rep. Andre Carson [D-IN]
Rep. Matthew Cartwright [D-PA]	Rep. Judy Chu [D-CA]	Rep. David Cicilline [D-RI]	Rep. Katherine Clark [D-MA]
Rep. Lacy Clay [D-MO]	Rep. John Conyers [D-MI]	Rep. Suzan DelBene [D-WA]	Rep. Mark DeSaulnier [D-CA]
Rep. Theodore Deutch [D-FL]	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. John Garamendi [D-CA]
Rep. Al Green [D-TX]	Rep. Gene Green [D-TX]	Rep. Raul Grijalva [D-AZ]	Rep. Henry Johnson [D-GA]
Rep. Denny Heck [D-WA]	Rep. James Himes [D-CT]	Rep. Eleanor Norton [D-DC]	Rep. Michael Honda [D-CA]
Rep. Jared Huffman [D-CA]	Rep. Steve Israel [D-NY]	Rep. Marcy Kaptur [D-OH]	Rep. William Keating [D-MA]
Rep. Ann Kuster [D-NH]	Rep. James Langevin [D-RI]	Rep. Rick Larsen [D-WA]	Rep. John Larson [D-CT]
Rep. Brenda Lawrence [D-MI]	Rep. Barbara Lee [D-CA]	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. Doris Matsui [D-CA]
Rep. Betty McCollum [D-MN]	Rep. James McGovern [D-MA]	Rep. Richard Nolan [D-MN]	Rep. Chellie Pingree [D-ME]
Rep. Mark Pocan [D-WI]	Rep. David Price [D-NC]	Rep. Cedric Richmond [D-LA]	Rep. Tim Ryan [D-OH]
Rep. Adam Schiff [D-CA]	Rep. Robert Scott [D-VA]	Rep. Jose Serrano [D-NY]	Rep. Louise Slaughter [D-NY]
Rep. Jackie Speier [D-CA]	Rep. Mark Takano [D-CA]	Rep. Paul Tonko [D-NY]	Sen. Chris Van Hollen [D-MD]
Rep. Marc Veasey [D-TX]	Rep. Timothy Walz [D-MN]	Sen. Peter Welch [D-VT]	Rep. John Yarmuth [D-KY]
Rep. Yvette Clarke [D-NY]	Rep. Suzanne Bonamici [D-OR]	Rep. Donna Edwards [D-MD]	Rep. Joe Courtney [D-CT]
Rep. John Sarbanes [D-MD]	Rep. Pete Aguilar [D-CA]	Rep. Tony Cardenas [D-CA]	Rep. Marcia Fudge [D-OH]
Rep. Janice Schakowsky [D-IL]	Rep. Madeleine Bordallo [D-GU]	Rep. Gwen Moore [D-WI]	Rep. Grace Meng [D-NY]
Rep. Sander Levin [D-MI]	Rep. Brad Sherman [D-CA]	Rep. Earl Blumenauer [D-OR]	Rep. Joyce Beatty [D-OH]
Rep. Karen Bass [D-CA]	Rep. Alcee Hastings [D-FL]	Rep. Jim McDermott [D-WA]	Rep. Derek Kilmer [D-WA]
Rep. Linda Sanchez [D-CA]	Rep. Nydia Velazquez [D-NY]	Rep. Steve Cohen [D-TN]	Rep. Daniel Kildee [D-MI]
Rep. Mike Thompson [D-CA]	Rep. Robin Kelly [D-IL]	Rep. Debbie Dingell [D-MI]	Rep. Michael Doyle [D-PA]
Rep. Ann Kirkpatrick [D-AZ]	Rep. Bobby Rush [D-IL]	Rep. Eliot Engel [D-NY]	Rep. Debbie Wasserman Schultz [D-FL]
Rep. Donald Payne [D-NJ]	Rep. Bill Foster [D-IL]

Date	Chamber	Action
2015-07-31	House	Referred to the Subcommittee on Energy and Power.
2015-07-30	House	Referred to the Subcommittee on Water Resources and Environment.
2015-07-30	House	Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
2015-07-30	House	Referred to the Subcommittee on Highways and Transit.
2015-07-30	House	Referred to the Subcommittee on Coast Guard and Maritime Transportation.
2015-07-30	House	Referred to the Subcommittee on Aviation.
2015-07-29	House	Referred to House Ways and Means
2015-07-29	House	Referred to House Financial Services
2015-07-29	House	Referred to House Transportation and Infrastructure
2015-07-29	House	Referred to House Energy and Commerce
2015-07-29	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.
2015-07-29	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3337/all-info
Text	https://www.congress.gov/114/bills/hr3337/BILLS-114hr3337ih.pdf