Grants consent of Congress to the States to enter into a cooperative agreement with the Secretary, as well as an interstate compact, to establish a multistate infrastructure bank.
Prescribes infrastructure bank requirements.
Emphasizes that: (1) any infrastructure bank loan shall be used to supplement, not supplant other Federal, State, and local funds; and (2) the contribution of Federal funds into such infrastructure banks shall not be construed as a Federal commitment, guarantee, or obligation to any third party.
Mandates review by the Secretary of the financial condition of each infrastructure bank.