H.R. 402 (112th): National Infrastructure Development Bank Act of 2011

Introduced:
Jan 24, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Rosa DeLauro
Representative for Connecticut's 3rd congressional district
Party
Democrat
Text
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Last Updated
Jan 24, 2011
Length
38 pages
Related Bills
H.R. 2521 (111th) was a previous version of this bill.

Referred to Committee
Last Action: May 20, 2009

H.R. 2553 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Jun 27, 2013

 
Status

This bill was introduced on January 24, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 24, 2011
Referred to Committee Jan 24, 2011
 
Full Title

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

Summary

No summaries available.

Cosponsors
78 cosponsors (78D) (show)
Committees

House Energy and Commerce

Energy and Power

House Financial Services

Domestic Monetary Policy and Technology

House Transportation and Infrastructure

Aviation

Coast Guard and Maritime Transportation

Highways and Transit

Railroads, Pipelines, and Hazardous Materials

Water Resources and Environment

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


1/24/2011--Introduced.
National Infrastructure Development Bank Act of 2011 - 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 financing to infrastructure projects; and
(2) borrow on the global capital market and lend to entities and commercial banks for funding infrastructure projects.
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.

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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