National Infrastructure Bank Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 31, 2020)
National Infrastructure Bank Act of 2020
This bill creates the National Infrastructure Bank to facilitate the long-term financing of infrastructure projects.
Specifically, the bank must provide loans to public and private entities for financing, developing, or operating eligible infrastructure projects. An eligible project must have a public sponsor as well as local, regional, or national significance.
The bill also provides for various criteria and preferences for purposes of deciding whether to provide a loan, such as whether a project promotes job creation or provides environmental health benefits.
Projects that receive such a loan must (1) pay all laborers and mechanics locally prevailing wages, and (2) use only certain U.S.-produced construction materials unless a waiver is secured from the bank.
The bank shall issue stock and may also issue bonds and maintain a discount line of credit with the Federal Reserve System.
The bank must apply for a national bank charter as soon as is practicable and, once chartered, accept deposits from individuals, corporations, and public entities and pay interest on those deposits.
The bill also imposes requirements related to the bank's operation, such as minimum reserve requirements and requirements for handling loan losses.
In addition, the bank must facilitate the organization of at least seven regional economic accelerator planning groups to, among other things, identify infrastructure needs and priorities.
Within five years, the Government Accountability Office must report on the bank's activities, including the impact of the funded infrastructure projects.
What just happenedApr 23, 2020
Referred to the Subcommittee on National Parks, Forests, and Public Lands.
Who’s behind it
- Introduced in HouseMar 31, 2020
- Apr 23, 2020Committee
Referred to the Subcommittee on National Parks, Forests, and Public Lands.
Federal Lands Subcommittee - Apr 23, 2020Committee
Referred to the Subcommittee on Water, Oceans, and Wildlife.
Water, Wildlife, and Fisheries Subcommittee - Apr 1, 2020Committee
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Railroads, Pipelines, and Hazardous Materials Subcommittee - Apr 1, 2020Committee
Referred to the Subcommittee on Water Resources and Environment.
Water Resources and Environment Subcommittee - Apr 1, 2020Committee
Referred to the Subcommittee on Highways and Transit.
Highways and Transit Subcommittee - Apr 1, 2020Committee
Referred to the Subcommittee on Aviation.
Aviation Subcommittee - Mar 31, 2020IntroReferralH11100
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.
Budget Committee - Mar 31, 2020IntroReferralH11100
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.
Natural Resources Committee - Mar 31, 2020IntroReferralH11100
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.
Education and the Workforce Committee - Mar 31, 2020IntroReferralH11100
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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 - Mar 31, 2020IntroReferralH11100
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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 - Mar 31, 2020IntroReferralH11100
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.
Energy and Commerce Committee - Mar 31, 2020IntroReferralIntro-H
Introduced in House
- Mar 31, 2020IntroReferral1000
Introduced in House