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United States · Bill · HR

H.R. 658 (116th)

National Infrastructure Development Bank Act of 2019

referredUnited States· United States Congress· EN

Introduced

17 January 2019

Last action

7 February 2019 · Referred

Status

Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Sponsors

Rep. DeLauro, Rosa L. [D-CT-3], Rep. Cicilline, David N. [D-RI-1], Rep. Chu, Judy [D-CA-28], Rep. Larson, John B. [D-CT-1], Rep. Carbajal, Salud O. [D-CA-24], Rep. Evans, Dwight [D-PA-3], Rep. Deutch, Theodore E. [D-FL-22], Rep. Ryan, Tim [D-OH-13], Rep. Velázquez, Nydia M. [D-NY-7], Rep. Pocan, Mark [D-WI-2], Rep. Price, David E. [D-NC-4], Rep. Espaillat, Adriano [D-NY-13], Rep. Dingell, Debbie [D-MI-6], Rep. Beyer, Donald S. [D-VA-8], Rep. Bonamici, Suzanne [D-OR-1], Rep. Tonko, Paul [D-NY-20], Rep. Boyle, Brendan F. [D-PA-2], Rep. Garamendi, John [D-CA-8], Sen. Welch, Peter [D-VT], Rep. Lofgren, Zoe [D-CA-18], Rep. Larsen, Rick [D-WA-2], Rep. Langevin, James R. [D-RI-2], Rep. Lowey, Nita M. [D-NY-17], Rep. DeSaulnier, Mark [D-CA-10], Rep. Eshoo, Anna G. [D-CA-18], Rep. Wilson, Frederica S. [D-FL-24], Rep. Hastings, Alcee L. [D-FL-20], Rep. Aguilar, Pete [D-CA-33], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Lamb, Conor [D-PA-17], Rep. Omar, Ilhan [D-MN-5], Rep. Cartwright, Matt [D-PA-17], Rep. Courtney, Joe [D-CT-2], Rep. Takano, Mark [D-CA-39], Rep. Engel, Eliot L. [D-NY-16], Rep. Kelly, Robin L. [D-IL-2], Sen. Schiff, Adam B. [D-CA], Rep. Moore, Gwen [D-WI-4], Rep. McCollum, Betty [D-MN-4], Rep. Foster, Bill [D-IL-11], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Lynch, Stephen F. [D-MA-8], Rep. Wasserman Schultz, Debbie [D-FL-25], Rep. Carson, André [D-IN-7], Rep. Himes, James A. [D-CT-4], Rep. Kuster, Ann M. [D-NH-2], Rep. Clarke, Yvette D. [D-NY-9], Rep. Veasey, Marc A. [D-TX-33]

Subjects

Environment, Energy, Transport, Taxation

Source updated

3 January 2025

Environment · Energy · Transport · Taxation

Official sourceDownload fileView documentsShare

Summary

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.

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

Timeline

  1. 17 January 2019

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 17 January 2019

    Introduced

    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.

    Source: IntroReferral

  3. 17 January 2019

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 7 February 2019

    Referred

    Referred to the Subcommittee on Highways and Transit.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 17 January 2019

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  • Introduced in House (PDF)

    Introduced in House · EN · 17 January 2019

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  • Introduced in House

    summary · EN · 17 January 2019

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Sponsors

Showing 48 of 67 sponsors and actors.

Related records

Sources

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