US SB1168 | 2017-2018 | 115th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on May 17 2017 - 25% progression, died in committee
Action: 2017-05-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 17 2017 - 25% progression, died in committee
Action: 2017-05-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
BRIDGE Act Building and Renewing Infrastructure for Development and Growth in Employment Act This bill establishes the Infrastructure Financing Authority (IFA) as a wholly-owned government corporation to provide direct loans and loan guarantees to eligible entities to facilitate the construction, consolidation, alteration, or repair of transportation, water, and energy infrastructure projects. Such projects shall have costs reasonably anticipated to equal or exceed $50 million ($10 million for rural infrastructure projects). The bill establishes an Office of Technical and Rural Assistance and an Office of Special Inspector General for the IFA. The bill prohibits IFA financing of a project if: it is private or does not create a public benefit, or the loan applicant is unable to demonstrate a sufficient revenue stream. The bill establishes within the IFA the Project Delivery Task Force to establish and coordinate a permitting timetable for the environmental review of a project. The Chief Executive Officer of the IFA shall: establish fees with respect to loans and loan guarantees that are sufficient to cover the IFA's administrative costs; and take actions to make the IFA a self-sustaining entity, with administrative and federal credit subsidy costs fully funded by fees and risk premiums on loans and loan guarantees. The bill amends the Internal Revenue Code to increase from $15 billion to $16 billion the aggregate amount of proceeds from tax-exempt facility bonds that the Department of Transportation shall allocate among qualified highway or surface freight transfer facilities.
Title
BRIDGE Act Building and Renewing Infrastructure for Development and Growth in Employment Act
Sponsors
Sen. Mark Warner [D-VA] | Sen. Roy Blunt [R-MO] | Sen. Kirsten Gillibrand [D-NY] | Sen. Lindsey Graham [R-SC] |
Sen. Christopher Coons [D-DE] | Sen. Dean Heller [R-NV] | Sen. Amy Klobuchar [D-MN] | Sen. Thom Tillis [R-NC] |
Sen. Richard Blumenthal [D-CT] | Sen. John Cornyn [R-TX] |
History
Date | Chamber | Action |
---|---|---|
2017-05-17 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
Aviation and airports
Dams and canals
Electric power generation and transmission
Energy storage, supplies, demand
Environmental assessment, monitoring, research
Government corporations and government-sponsored enterprises
Government lending and loan guarantees
Income tax exclusion
Infrastructure development
Licensing and registrations
Marine and inland water transportation
Navigation, waterways, harbors
Public transit
Public-private cooperation
Railroads
Roads and highways
Rural conditions and development
Securities
State and local finance
Transportation and public works
Transportation programs funding
Water quality
Water resources funding
Water use and supply
Dams and canals
Electric power generation and transmission
Energy storage, supplies, demand
Environmental assessment, monitoring, research
Government corporations and government-sponsored enterprises
Government lending and loan guarantees
Income tax exclusion
Infrastructure development
Licensing and registrations
Marine and inland water transportation
Navigation, waterways, harbors
Public transit
Public-private cooperation
Railroads
Roads and highways
Rural conditions and development
Securities
State and local finance
Transportation and public works
Transportation programs funding
Water quality
Water resources funding
Water use and supply
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/1168/all-info |
Text | https://www.congress.gov/115/bills/s1168/BILLS-115s1168is.pdf |