Public Investment Incentive Act of 1983

Summary

Public Investment Incentive Act of 1983 - Title I: General Provisions - Sets forth the purposes and provides definitions for this Act. Title II: Capitalization of State Infrastructure Banks - Federal-State Infrastructure Partnership Program Act - Authorizes the Secretary of the Treasury, under certain conditions, to allocate specified amounts to any State for the capitalization of a State Infrastructure Bank. Requires that such amounts be used only for the establishment, expansion, and maintenance of a State capital public investment loan fund. Directs the National Infrastructure Council to determine the apportionment of such funds to such Banks or comparable financing mechanisms. Sets forth the powers of such Banks or comparable financing mechanisms. Requires a State to enter into an agreement with the Secretary in order to receive funds under this title. Sets forth the provisions of such agreements (including the requirement to establish a public capital investment revolving fund). Requires amounts contributed under this Act to be available for States to: (1) make loans to governmental units based on specified interest rates and repayment requirements; and (2) blend with other State or local units to reduce market interest rates for capital infrastructure investments. Prohibits such amounts from being used for such Bank's administrative expenses. Declares that such amounts provided to the States will be audited annually and a report will be provided to the Secretary. Amends the Clean Water Act to authorize the use of sums allotted to States for FY 1984 through 1986 for loans to municipalities for wastewater treatment works. Provides requirements for such loans. Requires a State making such loans to submit an annual summary of such loan activity to the Environmental Protection Agency. Declares that nothing in this Act shall alter the requirements of: (1) the National Environmental Policy Act; (2) the Fish and Wildlife Coordination Act; (3) the Endangered Species Act; or (4) title III of the Clean Water Act. Requires municipal projects receiving loans under this Act to incorporate the best available technique for the conservation of water. Title III: National Infrastructure Council - National Infrastructure Council Act - Establishes the National Infrastructure Council. Requires that the Council be governed by a specified Board of Directors. States that the function of the Council is to administer this Act. Requires the Council to ensure that States establishing a Bank under this Act follow acceptable accounting procedures for Federal audits and reviews. Authorizes the Council to provide technical assistance, informational, and educational activities to States and local municipalities to meet public capital investment needs. Authorizes the Board of Directors to create a staff, with an Executive Director, and to request appropriations for its administration and activities. Lists the specific responsibilities of the Council. Requires the Council to transmit an annual report of its activities to Congress. Lists the requirements of such reports. Authorizes appropriations.

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1 official file

• Introduced in Senate

  summary · EN · 17 February 1983

  Open at official source

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