H.R. 3715 (108th): National Infrastructure Development Act of 2004

Introduced:
Jan 21, 2004 (108th Congress, 2003–2004)
Sponsor:
Rep. Rosa DeLauro [D-CT3]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 3896 (110th) on Oct 18, 2007.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 21, 2004, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 21, 2004
Cosponsors
6 cosponsors (6D) (show)
Committees

House Financial Services

House Transportation and Infrastructure

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To facilitate efficient investments and financing of infrastructure projects and new job creation through the establishment of a National Infrastructure Development Corporation, and for other purposes.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Jan 21, 2004.
61 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/21/2004--Introduced.
National Infrastructure Development Act of 2004 - Establishes the National Infrastructure Development Corporation and the National Infrastructure Insurance Corporation as wholly owned Government corporations that shall conduct their respective businesses as self-supporting entities. Empowers the National Infrastructure Development Corporation to make senior and subordinated loans and purchase senior and subordinated debt securities and equity securities, and to enter into commitments to make any such loan or security purchases, on such terms as the Corporation may determine, in its discretion, to be appropriate, the proceeds of which are to be used to finance or refinance development of infrastructure facilities, and to provide preconstruction phase assistance. Empowers the National Infrastructure Insurance Corporation to insure and reinsure bonds, debentures, notes, debt instruments, loans, and any interest thereon, the proceeds of which are to be used to finance or refinance development of infrastructure facilities. Declares that: (1) obligations of either Corporation, and obligations insured by any such corporation shall not be obligations of, or guaranteed as to principal or interest by, the United States or any Federal agency; and (2) assistance from the NIC shall not be treated as a direct or indirect guarantee of any payment by the United States of principal or interest on any security. Amends the Internal Revenue Code to prescribe guidelines for the tax treatment of distributions from qualified retirement plans investing in public benefit bonds (defined as any obligation issued after the date of the enactment of this Act if: (1) 95 percent or more of the net proceeds of such obligation are used in connection with the financing or refinancing of infrastructure facilities; (2) such obligation has received a published rating, and (3) development of such infrastructure facilities is undertaken by a governmental entity or public-private partnership).

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

Other Citations

  • 31 U.S.C. Chapter 15
  • 31 U.S.C. Chapter 91