National Infrastructure Development Bank Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jan 17, 2019)
National Infrastructure Development Bank Act of 2019
This bill establishes the National Infrastructure Development Bank as a government corporation to finance energy, environmental (e.g., drinking water or waste facilities), telecommunications, and transportation infrastructure projects. The National Infrastructure Development Bank Board, established by this bill, must oversee the projects. The board may make loans and loan guarantees to assist in financing infrastructure projects.
In addition, the board must establish an American Infrastructure Bond program. Under the program, the board may subsidize interest payments by the issuers of state or local bonds. The bill establishes the National Infrastructure Development Bank Trust Fund and appropriates to the fund an amount equal to the tax receipts attributable to interest payable under the bonds.
With the approval of the Department of the Treasury, the board may issue public benefit bonds to provide financing to infrastructure projects.
The bill exempts bonds issued by the bank, and the interest on or credits with respect to the bonds, from state or local government taxation.
Financial assistance for an infrastructure project must be repayable from dedicated revenue sources that also secure the infrastructure project obligations. The assistance may not exceed 50% of reasonably anticipated project costs.
What just happenedFeb 7, 2019
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Who’s behind it
- Introduced in HouseJan 17, 2019
- Feb 7, 2019Committee
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Economic Development, Public Buildings, and Emergency Management Subcommittee - Feb 7, 2019Committee
Referred to the Subcommittee on Aviation.
Aviation Subcommittee - Feb 7, 2019Committee
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Railroads, Pipelines, and Hazardous Materials Subcommittee - Feb 7, 2019Committee
Referred to the Subcommittee on Water Resources and Environment.
Water Resources and Environment Subcommittee - Feb 7, 2019Committee
Referred to the Subcommittee on Highways and Transit.
Highways and Transit Subcommittee - Jan 17, 2019IntroReferralH11100
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.
Ways and Means Committee - Jan 17, 2019IntroReferralH11100
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.
Financial Services Committee - Jan 17, 2019IntroReferralH11100
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.
Transportation and Infrastructure Committee - Jan 17, 2019IntroReferralH11100
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.
Energy and Commerce Committee - Jan 17, 2019IntroReferralIntro-H
Introduced in House
- Jan 17, 2019IntroReferral1000
Introduced in House