114-hr-3337114th Congress

National Infrastructure Development Bank Act of 2015

Sponsored By: Representative DeLauro, Rosa L. [D-CT-3]

Unknown

Summary

National Infrastructure Development Bank Act of 2015 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) make senior and subordinated direct loans and loan guarantees to assist in the financing or refinancing of an infrastructure project, (2) issue public benefit bonds and provide financing to infrastructure projects, and (3) pay an interest subsidy to the issuer of American Infrastructure Bonds. Requires the Board to establish an Executive Committee to establish requirements and make recommendations for project proposals to be considered for financial assistance. 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 guidelines to ensure diversification of lending activities by geographic region and infrastructure project type; (3) create conforming standards for all financial assistance provided by the Bank; (4) monitor financial, credit, and operational exposure of the Bank; (5) provide financial recommendations to the Board; and (6) ensure that the aggregate amount of interest subsidies provided for American Infrastructure Bonds in a given calendar year does not exceed 28% of interest payable under all such Bonds. Requires the Bank to establish an audit committee. Requires the Board to approve criteria established by the Executive Committee for determining project eligibility for financial assistance. Sets forth criteria to be considered by the Board for each type of infrastructure project. Requires the Executive Committee to conduct an analysis that considers the economic, environmental, and social benefits and costs of each project under consideration, prioritizing projects that contribute to economic growth, lead to job creation, and are of regional or national significance. Requires any financial assistance for an infrastructure project to be repayable from dedicated revenue sources that also secure the infrastructure project obligations. Limits the amount of assistance under this Act to 50% of reasonably anticipated project costs. Exempts all bonds issued by the Bank from state or local government taxation. Sets forth requirements regarding compliance of assisted projects with wage rate, domestic content, and buy American statutes. Requires the Board to establish an American Infrastructure Bond program. Establishes in the Treasury the National Infrastructure Development Bank Trust Fund into which an amount estimated to equal the tax receipts attributable to interest payable under such Bonds is to be appropriated.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

DeLauro, Rosa L. [D-CT-3]

CT • D

Cosponsors

Rep. Boyle, Brendan F. [D-PA-2]
PA • D
Sponsored 7/29/2015
JOHN CONYERS
MI • D
Sponsored 7/29/2015
Rep. DeSaulnier, Mark [D-CA-10]
CA • D
Sponsored 7/29/2015
Sen. Duckworth, Tammy [D-IL]
IL • D
Sponsored 7/29/2015
Rep. Ellison, Keith [D-MN-5]
MN • D
Sponsored 7/29/2015
Rep. Eshoo, Anna G. [D-CA-16]
CA • D
Sponsored 7/29/2015
Rep. Esty, Elizabeth H. [D-CT-5]
CT • D
Sponsored 7/29/2015
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 7/29/2015
MICHAEL HONDA
CA • D
Sponsored 7/29/2015
Rep. Huffman, Jared [D-CA-2]
CA • D
Sponsored 7/29/2015
STEVE ISRAEL
NY • D
Sponsored 7/29/2015
Rep. Kaptur, Marcy [D-OH-9]
OH • D
Sponsored 7/29/2015
Rep. Keating, William R. [D-MA-9]
MA • D
Sponsored 7/29/2015
Rep. Kuster, Ann M. [D-NH-2]
NH • D
Sponsored 7/29/2015
Rep. Langevin, James R. [D-RI-2]
RI • D
Sponsored 7/29/2015
Rep. Larsen, Rick [D-WA-2]
WA • D
Sponsored 7/29/2015
Rep. Larson, John B. [D-CT-1]
CT • D
Sponsored 7/29/2015
Rep. Lawrence, Brenda L. [D-MI-14]
MI • D
Sponsored 7/29/2015
Rep. Lee, Barbara [D-CA-12]
CA • D
Sponsored 7/29/2015
Rep. Lipinski, Daniel [D-IL-3]
IL • D
Sponsored 7/29/2015
LOIS CAPPS
CA • D
Sponsored 7/29/2015
Rep. Carson, André [D-IN-7]
IN • D
Sponsored 7/29/2015
Rep. Cartwright, Matt [D-PA-8]
PA • D
Sponsored 7/29/2015
Rep. Chu, Judy [D-CA-28]
CA • D
Sponsored 7/29/2015
Rep. Cicilline, David N. [D-RI-1]
RI • D
Sponsored 7/29/2015
Rep. Clark, Katherine M. [D-MA-5]
MA • D
Sponsored 7/29/2015
WM. CLAY
MO • D
Sponsored 7/29/2015
Rep. DelBene, Suzan K. [D-WA-1]
WA • D
Sponsored 7/29/2015
Rep. Deutch, Theodore E. [D-FL-22]
FL • D
Sponsored 7/29/2015
SAM FARR
CA • D
Sponsored 7/29/2015
CHAKA FATTAH
PA • D
Sponsored 7/29/2015
Rep. Garamendi, John [D-CA-8]
CA • D
Sponsored 7/29/2015
Rep. Green, Al [D-TX-9]
TX • D
Sponsored 7/29/2015
GENE GREEN
TX • D
Sponsored 7/29/2015
Rep. Grijalva, Raúl M. [D-AZ-7]
AZ • D
Sponsored 7/29/2015
Rep. Johnson, Henry C. "Hank" [D-GA-4]
GA • D
Sponsored 7/29/2015
Rep. Heck, Denny [D-WA-10]
WA • D
Sponsored 7/29/2015
Rep. Himes, James A. [D-CT-4]
CT • D
Sponsored 7/29/2015
Rep. Price, David E. [D-NC-4]
NC • D
Sponsored 7/29/2015
Rep. Richmond, Cedric L. [D-LA-2]
LA • D
Sponsored 7/29/2015
Rep. Bass, Karen [D-CA-37]
CA • D
Sponsored 9/29/2015
Rep. Wasserman Schultz, Debbie [D-FL-25]
FL • D
Sponsored 7/14/2016
Rep. Payne, Donald M., Jr. [D-NJ-10]
NJ • D
Sponsored 9/6/2016
Rep. Foster, Bill [D-IL-11]
IL • D
Sponsored 9/13/2016
Rep. Lofgren, Zoe [D-CA-18]
CA • D
Sponsored 7/29/2015
Rep. Lowenthal, Alan S. [D-CA-47]
CA • D
Sponsored 7/29/2015
NITA LOWEY
NY • D
Sponsored 7/29/2015
Rep. Lynch, Stephen F. [D-MA-8]
MA • D
Sponsored 7/29/2015
Rep. Matsui, Doris O. [D-CA-7]
CA • D
Sponsored 7/29/2015
Rep. McCollum, Betty [D-MN-4]
MN • D
Sponsored 7/29/2015
Rep. McGovern, James P. [D-MA-2]
MA • D
Sponsored 7/29/2015
RICHARD NOLAN
MN • D
Sponsored 7/29/2015
Rep. Pingree, Chellie [D-ME-1]
ME • D
Sponsored 7/29/2015
Rep. Pocan, Mark [D-WI-2]
WI • D
Sponsored 7/29/2015
Rep. Ryan, Tim [D-OH-13]
OH • D
Sponsored 7/29/2015
Sen. Schiff, Adam B. [D-CA]
CA • D
Sponsored 7/29/2015
Rep. Scott, Robert C. "Bobby" [D-VA-3]
VA • D
Sponsored 7/29/2015
JOSE SERRANO
NY • D
Sponsored 7/29/2015
LOUISE SLAUGHTER
NY • D
Sponsored 7/29/2015
Rep. Speier, Jackie [D-CA-14]
CA • D
Sponsored 7/29/2015
Rep. Takano, Mark [D-CA-39]
CA • D
Sponsored 7/29/2015
Rep. Tonko, Paul [D-NY-20]
NY • D
Sponsored 7/29/2015
Sen. Van Hollen, Chris [D-MD]
MD • D
Sponsored 7/29/2015
Rep. Veasey, Marc A. [D-TX-33]
TX • D
Sponsored 7/29/2015
Rep. Walz, Timothy J. [D-MN-1]
MN • D
Sponsored 7/29/2015
Sen. Welch, Peter [D-VT]
VT • D
Sponsored 7/29/2015
Rep. Yarmuth, John A. [D-KY-3]
KY • D
Sponsored 7/29/2015
Rep. Clarke, Yvette D. [D-NY-9]
NY • D
Sponsored 7/29/2015
Rep. Bonamici, Suzanne [D-OR-1]
OR • D
Sponsored 7/29/2015
Rep. Edwards, Donna F. [D-MD-4]
MD • D
Sponsored 7/29/2015
Rep. Courtney, Joe [D-CT-2]
CT • D
Sponsored 7/29/2015
Rep. Sarbanes, John P. [D-MD-3]
MD • D
Sponsored 7/29/2015
Rep. Aguilar, Pete [D-CA-33]
CA • D
Sponsored 7/29/2015
Rep. Cárdenas, Tony [D-CA-29]
CA • D
Sponsored 7/29/2015
Rep. Fudge, Marcia L. [D-OH-11]
OH • D
Sponsored 9/8/2015
Rep. Schakowsky, Janice D. [D-IL-9]
IL • D
Sponsored 9/8/2015
Del. Bordallo, Madeleine Z. [D-GU-At Large]
GU • D
Sponsored 9/10/2015
Rep. Moore, Gwen [D-WI-4]
WI • D
Sponsored 9/10/2015
Rep. Meng, Grace [D-NY-6]
NY • D
Sponsored 9/10/2015
SANDER LEVIN
MI • D
Sponsored 9/18/2015
Rep. Sherman, Brad [D-CA-32]
CA • D
Sponsored 9/18/2015
Rep. Blumenauer, Earl [D-OR-3]
OR • D
Sponsored 9/18/2015
Rep. Beatty, Joyce [D-OH-3]
OH • D
Sponsored 9/29/2015
Rep. Hastings, Alcee L. [D-FL-20]
FL • D
Sponsored 9/29/2015
JIM MCDERMOTT
WA • D
Sponsored 10/6/2015
Rep. Kilmer, Derek [D-WA-6]
WA • D
Sponsored 10/6/2015
Rep. Sánchez, Linda T. [D-CA-38]
CA • D
Sponsored 10/22/2015
Rep. Velázquez, Nydia M. [D-NY-7]
NY • D
Sponsored 2/1/2016
Rep. Cohen, Steve [D-TN-9]
TN • D
Sponsored 4/11/2016
Rep. Kildee, Daniel T. [D-MI-8]
MI • D
Sponsored 5/3/2016
Rep. Thompson, Mike [D-CA-4]
CA • D
Sponsored 5/18/2016
Rep. Kelly, Robin L. [D-IL-2]
IL • D
Sponsored 5/18/2016
Rep. Dingell, Debbie [D-MI-6]
MI • D
Sponsored 5/18/2016
Rep. Doyle, Michael F. [D-PA-18]
PA • D
Sponsored 6/28/2016
Rep. Kirkpatrick, Ann [D-AZ-1]
AZ • D
Sponsored 7/1/2016
Rep. Rush, Bobby L. [D-IL-1]
IL • D
Sponsored 7/1/2016
ELIOT ENGEL
NY • D
Sponsored 7/5/2016

Roll Call Votes

No roll call votes available for this bill.

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Back to Legislation

National Infrastructure Development Bank Act of 2015

Summary

How does this bill affect your finances?

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Cosponsors

Roll Call Votes

Related Bills

Live Policy Activity

Not In My Barn Yard Act

Other Activity On This Topic

DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push

How These Connect

Deep Dive

Federal Communications Commission — Communications Regulation

FCC & Telecommunications Regulation

Related Bills

Live Policy Activity

Not In My Barn Yard Act

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DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push

How These Connect

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Federal Communications Commission — Communications Regulation

FCC & Telecommunications Regulation

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