H.R. 7231 · 116th Congress
Infrastructure Bank for America Act of 2020
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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.
R
WebsterSponsor6 cosponsors · 6 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill provides for the establishment of the Infrastructure Bank Holding Company (IBHC), which shall be the parent company of the Infrastructure Bank for America (the bank).
What it does: CRS summary · Introduced in House · Jun 15, 2020
Infrastructure Bank for America Act of 2020
This bill provides for the establishment of the Infrastructure Bank Holding Company (IBHC), which shall be the parent company of the Infrastructure Bank for America (the bank). The bank shall provide (1) equity investments, direct loans, indirect loans, and loan guarantees for the construction or maintenance of revenue-producing infrastructure projects in the United States with sufficient revenue sources and guarantees to support the interest and principal payments to such bank; and (2) direct and indirect loans and loan guarantees to state and local governments and state infrastructure banks for the construction or maintenance of infrastructure projects. At least 7% of the dollar amount of the loans, equity investments, and loan guarantees shall be for infrastructure projects in rural areas.
The Board of Governors of the Federal Reserve System shall have oversight and supervisory authority over the IBHC and the bank. The Department of the Treasury shall oversee and supervise the issuance of bonds by the IBHC and the bank. The bank shall establish an Infrastructure Guarantee Fund to cover loans and loan guarantees in the event of nonpayment by loan recipients.
The bill provides for a taxpayer credit in an amount equal to 10% of the amount such taxpayer paid to the IBHC for an equity investment at its original issue.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Infrastructure Bank for America Act of 2020
Latest action (Jun 16, 2020): Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Policy area: Transportation and Public Works · Origin: House · Introduced: Jun 15, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.