Infrastructure Bank for America Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 5, 2017)
Infrastructure Bank for America Act of 2017
This bill provides for the establishment of the Infrastructure Bank Holding Company (IBHC), which shall be the parent company of the Infrastructure Bank for America (the bank). The bank shall provide: (1) direct loans and loan guarantees to private entities for the construction or maintenance of revenue-producing infrastructure projects, and (2) indirect loans and loan guarantees to state and local governments and state infrastructure banks for the construction or maintenance of infrastructure projects. At least 7% of the dollar amount of the loans and loan guarantees shall be for infrastructure projects in rural areas.
The Board of Governors of the Federal Reserve System shall have oversight and supervisory authority over the IBHC and the bank. The Department of the Treasury shall have oversight and supervisory authority over the issuance of bonds by the IBHC and the bank. The bank shall establish an Infrastructure Guarantee Fund to cover loans and loan guarantees in the event of nonpayment.
The bill amends the Internal Revenue Code to: (1) extend and modify the dividends received deduction for repatriated foreign earnings used to purchase holding company bonds, and (2) allow a new infrastructure bank holding company credit.
What just happenedOct 6, 2017
Referred to the Subcommittee on Highways and Transit.
Who’s behind it
- Introduced in HouseOct 5, 2017
- Oct 6, 2017Committee
Referred to the Subcommittee on Highways and Transit.
Highways and Transit Subcommittee - Oct 5, 2017IntroReferralH11100
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on 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.
Ways and Means Committee - Oct 5, 2017IntroReferralH11100
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on 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.
Financial Services Committee - Oct 5, 2017IntroReferralH11100
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on 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.
Transportation and Infrastructure Committee - Oct 5, 2017IntroReferralIntro-H
Introduced in House
- Oct 5, 2017IntroReferral1000
Introduced in House