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H.R. 2521 · 111th Congress

National Infrastructure Development Bank Act of 2009

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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

RDD DeLauroSponsor
59 cosponsors · 59 D
EBD Blumenauer SBD Berkley MBD Bordallo JCD Courtney BDD Delahunt SDD Driehaus BED Etheridge KED Ellison SFD Farr CFD Fattah BFD Frank MHD Hirono SID Israel JLD Larson JMD McGovern JMD McDermott GMD Moore EMD Massa TRD Ryan JSD Schakowsky BSD Sutton CVD Van Hollen LWD Woolsey AWD Weiner PWD Welch JYD Yarmuth MHD Hinchey JJD Jackson SLD Lynch CMD Murphy JBD Boccieri BRD Rush JHD Himes BLD Lee BMD Miller PTD Tonko SJD Jackson Lee ASD Schiff MWD Watt JCD Chu HBD Berman LGD Gutiérrez LSD Sánchez LSD Slaughter BBD Braley JTD Tierney JCD Conyers AHD Hastings BLD Luján PPD Pierluisi CSD Shea-Porter JSD Speier TPD Perriello PHD Hare BPD Pascrell LRD Richardson ASD Schwartz LBD Boswell CGD Gonzalez

26 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

National Infrastructure Development Bank Act of 2009 - Establishes the National Infrastructure Development Bank as a wholly owned government corporation.

What it does: CRS summary · Introduced in House · May 20, 2009

National Infrastructure Development Bank Act of 2009 - Establishes the National Infrastructure Development Bank as a wholly owned government corporation.

Makes the Bank's Board of Directors responsible for monitoring and overseeing energy, environmental, telecommunications, and transportation infrastructure projects. Authorizes the Board to: (1) issue public benefit bonds and provide direct subsidies to infrastructure projects; (2) borrow on the global capital market and lend to entities and commercial banks for funding infrastructure projects; and (3) purchase, pool, and sell infrastructure-related loans and securities on such market. Requires the Board to establish criteria for determining project eligibility for financial assistance under this Act.

Sets forth the duties of the Bank's executive committee and audit committee.

Requires the Bank to establish a risk management committee, which shall: (1) create financial, credit, and operational risk management guidelines for the Bank; (2) set standards to ensure diversification of lending activities by both region and infrastructure project type; and (3) create conforming standards for infrastructure finance securities.

Exempts all notes, debentures, bonds or other such obligations issued by the Bank, and the interest on or credits with respect to such bonds or other obligations, from state or local government taxation.

Terminates the Bank after 15 years.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: National Infrastructure Development Bank Act of 2009

Latest action (May 21, 2009): Referred to the Subcommittee on Commerce, Trade and Consumer Protection.

Policy area: Government Operations and Politics · Origin: House · Introduced: May 20, 2009

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.