State Infrastructure Banks for Schools Act of 2001

Summary

State Infrastructure Banks for Schools Act of 2001 - Authorizes the Secretary of the Treasury to enter into cooperative agreements with States for the establishment of State infrastructure banks and multistate infrastructure banks to make loans to: (1) local educational agencies for building or repairing elementary or secondary schools which provide free public education; and (2) public libraries for building or repairing library facilities. Grants consent of Congress to the States to enter into a cooperative agreement with the Secretary, as well as an interstate compact, to establish a multistate infrastructure bank. Prescribes infrastructure bank requirements. Emphasizes that: (1) any infrastructure bank loan shall be used to supplement, not supplant other Federal, State, and local funds; and (2) the contribution of Federal funds into such infrastructure banks shall not be construed as a Federal commitment, guarantee, or obligation to any third party. Mandates review by the Secretary of the financial condition of each infrastructure bank.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 15 May 2001

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• Introduced in House (PDF)

  Introduced in House · EN · 15 May 2001

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• Introduced in House

  summary · EN · 15 May 2001

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