{"@context":"https://schema.org","@type":"Legislation","name":"National Infrastructure Development Bank Act of 2019","description":"

National Infrastructure Development Bank Act of 2019

This bill establishes the National Infrastructure Development Bank as a government corporation to finance energy, environmental (e.g., drinking water or waste facilities), telecommunications, and transportation infrastructure projects. The National Infrastructure Development Bank Board, established by this bill, must oversee the projects. The board may make loans and loan guarantees to assist in financing infrastructure projects.

In addition, the board must establish an American Infrastructure Bond program. Under the program, the board may subsidize interest payments by the issuers of state or local bonds. The bill establishes the National Infrastructure Development Bank Trust Fund and appropriates to the fund an amount equal to the tax receipts attributable to interest payable under the bonds.

With the approval of the Department of the Treasury, the board may issue public benefit bonds to provide financing to infrastructure projects.

The bill exempts bonds issued by the bank, and the interest on or credits with respect to the bonds, from state or local government taxation.

Financial assistance for an infrastructure project must be repayable from dedicated revenue sources that also secure the infrastructure project obligations. The assistance may not exceed 50% of reasonably anticipated project costs.

","legislationIdentifier":"HR 658","legislationType":"Bill","legislationLegalForce":"NotInForce","legislationJurisdiction":"USA","author":[{"@type":"Person","name":"Rosa L. DeLauro","url":"https://legisdaily.com/mp/rosal-delauro-us"}],"about":{"@type":"Thing","name":"Government Operations and Politics"},"keywords":"Accounting and auditing, Air quality, Alternative and renewable resources, Bank accounts, deposits, capital, Broadcasting, cable, digital technologies, Buy American requirements, Climate change and greenhouse gases, Dams and canals, Economic development, Educational facilities and institutions, Electric power generation and transmission, Employment and training programs, Energy efficiency and conservation, Energy storage, supplies, demand, Environmental health, Executive agency funding and structure, Federal preemption, Floods and storm protection, Government corporations and government-sponsored enterprises, Government lending and loan guarantees, Government trust funds, Hazardous wastes and toxic substances, Health facilities and institutions, Infrastructure development, Intergovernmental relations, Metals, Public housing, Public-private cooperation, Rural conditions and development, Securities, Solid waste and recycling, State and local taxation, Tax-exempt organizations, Telephone and wireless communication, Transportation programs funding, Transportation safety and security, User charges and fees, Wages and earnings, Water quality, Water use and supply, Wetlands, Women's employment","dateModified":"2025-01-03T00:00:00.000Z","url":"https://legisdaily.com/bill/USA-116-HR-658"}