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United States · Bill · HR

H.R. 3896 (110th)

National Infrastructure Development Act of 2007

referredUnited States· United States Congress· EN

Introduced

18 October 2007

Last action

19 October 2007 · Referred

Status

Referred to the Subcommittee on Water Resources and Environment.

Sponsors

Rosa DeLauro, Rep. Weiner, Anthony D. [D-NY-9], Rep. Israel, Steve [D-NY-3], Rep. Hare, Phil [D-IL-17], Sen. Welch, Peter [D-VT], Rep. Cramer, Robert E. (Bud), Jr. [D-AL-5], Rep. Frank, Barney [D-MA-4], Earl Blumenauer, Rep. McDermott, Jim [D-WA-7], James McGovern, Rep. Sutton, Betty [D-OH-13], Rep. Matsui, Doris O. [D-CA-7], TIM RYAN, Rep. Hinchey, Maurice D. [D-NY-22], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Braley, Bruce L. [D-IA-1], Rep. Carson, André [D-IN-7], Sen. Hirono, Mazie K. [D-HI], CAROLYN MALONEY

Subjects

Transport, Taxation

Source updated

14 August 2025

Transport · Taxation

Official sourceDownload fileView documentsShare

Summary

National Infrastructure Development Act of 2007 - Establishes the National Infrastructure Development Corporation and the National Infrastructure Insurance Corporation as wholly owned Government corporations that shall conduct their respective businesses as self-supporting entities. Empowers the National Infrastructure Development Corporation to: (1) make senior and subordinated loans and purchase senior and subordinated debt securities and equity securities; (2) enter into commitments to make any such loan or security purchases, on such terms as the Corporation may (in its discretion) determine to be appropriate, the proceeds of which are to be used to finance or refinance development of infrastructure facilities; and (3) provide preconstruction phase assistance. Empowers the National Infrastructure Insurance Corporation to insure and reinsure bonds, debentures, notes, debt instruments, loans, and any interest thereon, the proceeds of which are to be used to finance or refinance development of infrastructure facilities. Declares that: (1) obligations of either Corporation, and obligations insured by any such corporation shall not be obligations of, or guaranteed as to principal or interest by, the United States or any federal agency; and (2) assistance from the NIC shall not be treated as a direct or indirect guarantee of any payment by the United States of principal or interest on any security. Amends the Internal Revenue Code to prescribe guidelines for the tax treatment of distributions from qualified retirement plans investing in public benefit bonds (defined as any obligation issued after the date of the enactment of this Act if: (1) 95% or more of the net proceeds of such obligation are used in connection with the financing or refinancing of infrastructure facilities; (2) such obligation has received a published rating, and (3) development of such infrastructure facilities is undertaken by a governmental entity or public-private partnership).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 18 October 2007

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 18 October 2007

    Introduced

    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.

    Source: IntroReferral

  3. 18 October 2007

    Introduced

    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.

    Source: IntroReferral

  4. 18 October 2007

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 19 October 2007

    Referred

    Referred to the Subcommittee on Aviation.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

Related records

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Sources

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