Official Summary

6/5/2007--Introduced.Investing for Tomorrow's Schools Act of 2007 - Authorizes the Secretary of the Treasury to enter into cooperative agreements with states for the establishment of state infrastructure banks and multistate infrastructure banks for making loans to local educational a

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Official Summary

6/5/2007--Introduced.
Investing for Tomorrow's Schools Act of 2007 - Authorizes the Secretary of the Treasury to enter into cooperative agreements with states for the establishment of state infrastructure banks and multistate infrastructure banks for making loans to local educational agencies and public libraries for building or repairing public elementary or secondary schools and public library facilities. Grants congressional consent to states for interstate compacts to establish multistate infrastructure banks. Directs the Secretary to make grants to such banks to provide initial capital for such loans. Requires states to contribute from nonfederal sources at least 25% of the amount of each federal capitalization grant made to the state and contributed to the bank. Lists types of projects eligible for such bank loans. Directs the Secretary to establish Healthy, High Performance School Guidelines for the construction and renovation of schools, education facilities, and libraries relating to energy efficiency, renewable energy, water use, building materials, indoor environmental quality, and other appropriate matters. Requires any local educational agency or public library using a loan under this Act to fund a new construction or renovation project to ensure that the project conforms, to the maximum extent practicable, to such Healthy, High Performance School Guidelines.


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