US Congress House Bill 547 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 88-0)
Status: Introduced on January 13 2017 - 25% progression, died in committee
Action: 2017-01-17 - 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 2017 This bill establishes the National Infrastructure Development Bank as a wholly owned government corporation. The bank's board of directors shall be responsible for monitoring and overseeing energy, environmental, telecommunications, and transportation infrastructure projects. The board is authorized to: (1) make loans and loan guarantees to assist in the financing 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. The bank shall establish a risk management committee, which shall: (1) create financial, credit, and operational risk management guidelines; (2) set guidelines to ensure diversification of lending activities by geographic region and infrastructure project type; (3) create conforming standards for financial assistance; (4) monitor financial, credit, and operational exposure; (5) provide financial recommendations to the board; and (6) ensure that the aggregate amount of interest subsidies provided for such bonds in a given calendar year does not exceed 28% of interest payable under all such bonds. The board shall approve criteria established by the bank's executive committee for determining project eligibility for financial assistance. The bill sets forth criteria to be considered by the board for each type of infrastructure project. The executive committee shall 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. Financial assistance for an infrastructure project: (1) shall be repayable from dedicated revenue sources that also secure the infrastructure project obligations, and (2) shall not exceed 50% of reasonably anticipated project costs. Bank bonds shall be exempt from state or local government taxation. Assisted projects must comply with wage rate, domestic content, and buy American statutes. The board shall establish an American Infrastructure Bond program. The bill establishes the National Infrastructure Development Bank Trust Fund into which an amount equal to the tax receipts attributable to interest payable under such bonds is to be appropriated.

National Infrastructure Development Bank Act of 2017

Rep. Rosa DeLauro [D-CT]	Rep. Mark Takano [D-CA]	Rep. Marcy Kaptur [D-OH]	Rep. Louise Slaughter [D-NY]
Rep. Theodore Deutch [D-FL]	Rep. Suzan DelBene [D-WA]	Rep. Katherine Clark [D-MA]	Rep. Rick Larsen [D-WA]
Rep. Chellie Pingree [D-ME]	Rep. Jackie Speier [D-CA]	Rep. Gwen Moore [D-WI]	Rep. Alcee Hastings [D-FL]
Rep. John Larson [D-CT]	Rep. Adam Schiff [D-CA]	Rep. Matthew Cartwright [D-PA]	Rep. Tim Ryan [D-OH]
Rep. Doris Matsui [D-CA]	Rep. David Cicilline [D-RI]	Rep. David Price [D-NC]	Rep. Brendan Boyle [D-PA]
Rep. Jose Serrano [D-NY]	Rep. Robin Kelly [D-IL]	Rep. Paul Tonko [D-NY]	Rep. Daniel Lipinski [D-IL]
Rep. Daniel Kildee [D-MI]	Rep. Cedric Richmond [D-LA]	Rep. Alan Lowenthal [D-CA]	Sen. Peter Welch [D-VT]
Rep. John Garamendi [D-CA]	Rep. Eleanor Norton [D-DC]	Rep. Suzanne Bonamici [D-OR]	Rep. Madeleine Bordallo [D-GU]
Rep. Debbie Dingell [D-MI]	Rep. Andre Carson [D-IN]	Rep. Marc Veasey [D-TX]	Rep. Michael Doyle [D-PA]
Rep. James Langevin [D-RI]	Rep. Tony Cardenas [D-CA]	Rep. Ann Kuster [D-NH]	Rep. Janice Schakowsky [D-IL]
Rep. William Keating [D-MA]	Rep. Linda Sanchez [D-CA]	Rep. Brenda Lawrence [D-MI]	Rep. Bill Foster [D-IL]
Rep. Eliot Engel [D-NY]	Rep. Mark Pocan [D-WI]	Rep. Stephen Lynch [D-MA]	Rep. Denny Heck [D-WA]
Rep. Betty McCollum [D-MN]	Rep. Grace Meng [D-NY]	Rep. John Sarbanes [D-MD]	Rep. Sander Levin [D-MI]
Rep. Donald Payne [D-NJ]	Rep. James Himes [D-CT]	Rep. John Conyers [D-MI]	Rep. Judy Chu [D-CA]
Rep. Robert Scott [D-VA]	Rep. James McGovern [D-MA]	Rep. Carol Shea-Porter [D-NH]	Rep. Nita Lowey [D-NY]
Rep. Brad Sherman [D-CA]	Rep. Keith Ellison [D-MN]	Rep. Raul Grijalva [D-AZ]	Rep. Debbie Wasserman Schultz [D-FL]
Rep. Elizabeth Esty [D-CT]	Rep. Mark DeSaulnier [D-CA]	Rep. Joe Courtney [D-CT]	Rep. Derek Kilmer [D-WA]
Rep. Nydia Velazquez [D-NY]	Rep. Barbara Lee [D-CA]	Rep. Steve Cohen [D-TN]	Rep. Anna Eshoo [D-CA]
Rep. Yvette Clarke [D-NY]	Rep. Earl Blumenauer [D-OR]	Rep. Henry Johnson [D-GA]	Rep. Timothy Walz [D-MN]
Rep. Zoe Lofgren [D-CA]	Rep. Dwight Evans [D-PA]	Rep. John Yarmuth [D-KY]	Rep. Mike Thompson [D-CA]
Rep. Richard Nolan [D-MN]	Rep. Salud Carbajal [D-CA]	Rep. Bonnie Coleman [D-NJ]	Rep. Robert Brady [D-PA]
Rep. Adriano Espaillat [D-NY]	Rep. Ro Khanna [D-CA]	Rep. Conor Lamb [D-PA]	Rep. Don Beyer [D-VA]

Date	Chamber	Action
2017-01-17	House	Referred to the Subcommittee on Water Resources and Environment.
2017-01-17	House	Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
2017-01-17	House	Referred to the Subcommittee on Highways and Transit.
2017-01-17	House	Referred to the Subcommittee on Coast Guard and Maritime Transportation.
2017-01-17	House	Referred to the Subcommittee on Aviation.
2017-01-13	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.
2017-01-13	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.
2017-01-13	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.
2017-01-13	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.
2017-01-13	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.
2017-01-13	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/547/all-info
Text	https://www.congress.gov/115/bills/hr547/BILLS-115hr547ih.pdf