National Infrastructure Development Act of 1996

Summary

National Infrastructure Development Act of 1996 - Establishes as a wholly owned Government corporation: (1) the National Infrastructure Development Corporation (NIDC), which shall make new sources of financing (including public benefit bonds) available for the development of infrastructure facilities; and (2) the National Infrastructure Insurance Corporation (NIIC), which shall be a subsidiary of NIDC issuing insurance, reinsurance and related undertakings with respect to obligations for development of such facilities. Requires NIDC and NIIC to conduct their respective businesses as self-supporting entities. Directs the boards of directors of each to establish criteria for determining eligibility for financial assistance. Sets forth provisions regarding: (1) initial targeting of ready-to-go projects; (2) development risk insurance; (3) discretion of NIDC and NIIC to provide assistance; (4) final decisions regarding providing assistance to be made by an independent investment committee; and (5) capitalization, organization, and management of NIDC and NIIC. Requires the NIDC to prepare and revise as necessary a strategic plan for the transition of NIDC and all its subsidiaries to a Government-sponsored enterprise, and for the sale or transfer to investors other than the Federal Government of NIDC's voting securities. Authorizes appropriations.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 24 September 1996

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 24 September 1996

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• Introduced in Senate

  summary · EN · 24 September 1996

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