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H.R. 658 · 116th Congress

National Infrastructure Development Bank Act of 2019

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

RDD DeLauroSponsor
62 cosponsors · 62 D
PAD Aguilar SBD Bonamici DBD Beyer BBD Boyle YCD Clarke JCD Courtney ACD Carson JCD Chu DCD Cicilline MCD Cartwright TCD Cárdenas KCD Clark SCD Carbajal MDD Doyle TDD Deutch SDD DelBene MDD DeSaulnier DDD Dingell EED Engel AED Eshoo DED Evans AED Espaillat BFD Foster RGD Grijalva JGD Garamendi AHD Hastings JHD Himes WKD Keating DKD Kilmer AKD Kuster RKD Kelly RKD Khanna ZLD Lofgren NLD Lowey JLD Larson JLD Langevin RLD Larsen SLD Lynch CLD Lamb BMD McCollum GMD Moore IOD Omar DPD Price CPD Pingree MPD Pocan TRD Ryan BSD Scott JSD Serrano BSD Sherman JSD Schakowsky ASD Schiff PTD Tonko MTD Takano NVD Velázquez MVD Veasey DWD Wasserman Schultz PWD Welch FWD Wilson JSD Speier JMD McGovern SCD Cohen JKD Kennedy

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

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.

What it does: CRS summary · Introduced in House · Jan 17, 2019

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.

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 2019

Latest action (Feb 7, 2019): Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Policy area: Government Operations and Politics · Origin: House · Introduced: Jan 17, 2019

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

No recorded floor vote found.