U.S. Congress - H.R.402 National Infrastructure Development Bank Act of 2011
H.R.402 - National Infrastructure Development Bank Act of 2011
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. view all titles (2)
All Bill Titles
- Short: National Infrastructure Development Bank Act of 2011 as introduced.
- Official: 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. as introduced.
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OpenCongress Summary
Establishes a national infrastructure bank authorized to invest up to $25 billion in transportation, energy and communications infrastructure projects across the country. The bank would provide loans and grants for shovel-ready projects that would be leveraged with private investments, with all capital payments reinvested back into the bank.Official Summary
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, telecommOfficial Summary
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.
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Recent News Coverage
Leaders outline bumps on the road to small-business recovery
As written in House bill H.R.402, which is now in committee, the bank would be led by a board of directors, “to take a lot of the politics out of that.” Keating said there also needs to be more investment in the nation's workforce, without which ...
Recent Blog Coverage
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View Top Rated
CRS — Legislative Options for Financing Water Infrastructure « Full ...
... Create a “Water Infrastructure Finance and Innovation Act” Program, or WIFIA (H.R. 3145 in the 112th Congress),; Create a National Infrastructure Bank (H.R. 402 and S. 652 in the 112th Congress),; Lift private activity bond ...
CRS — Legislative Options for Financing Water Infrastructure « Full ...
... Create a “Water Infrastructure Finance and Innovation Act” Program, or WIFIA (H.R. 3145 in the 112th Congress),; Create a National Infrastructure Bank (H.R. 402 and S. 652 in the 112th Congress),; Lift private activity bond ...
CRS — Legislative Options for Financing Water Infrastructure « Full ...
... Create a “Water Infrastructure Finance and Innovation Act” Program, or WIFIA (H.R. 3145 in the 112th Congress),; Create a National Infrastructure Bank (H.R. 402 and S. 652 in the 112th Congress),; Lift private activity bond ...
Latest Letters to Congress
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H.R.402 National Infrastructure Development Bank Act of 2011
ayrerperformance
May 27, 2012
I am writing as your constituent in the 3rd Congressional district of New Jersey. I support H.R.402 - National Infrastructure Development Bank Act of 2011, and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
James Ayrer -
H.R.402 National Infrastructure Development Bank Act of 2011
hjansert
April 24, 2012
I am writing as your constituent in the 3rd Congressional district of Kentucky. I support H.R.402 - National Infrastructure Development Bank Act of 2011, and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
Heather J. Ansert -
H.R.402 National Infrastructure Development Bank Act of 2011
JohnCipriano
March 01, 2012
I am writing as your constituent in the 4th Congressional district of New York. I support H.R.402 - National Infrastructure Development Bank Act of 2011, and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
John Cipriano
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