National Infrastructure Development Act of 2004
Latest action · Feb 2, 2004 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, for a period to be subsequently determined by the Chairman.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 21, 2004
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
National Infrastructure Development Act of 2004 - Establishes the National Infrastructure Development Corporation and the National Infrastructure Insurance Corporation as wholly owned Government corporations that shall conduct their respective businesses as self-supporting entities.
Empowers the National Infrastructure Development Corporation to make senior and subordinated loans and purchase senior and subordinated debt securities and equity securities, and to enter into commitments to make any such loan or security purchases, on such terms as the Corporation may determine, in its discretion, to be appropriate, the proceeds of which are to be used to finance or refinance development of infrastructure facilities, and to provide preconstruction phase assistance.
Empowers the National Infrastructure Insurance Corporation to insure and reinsure bonds, debentures, notes, debt instruments, loans, and any interest thereon, the proceeds of which are to be used to finance or refinance development of infrastructure facilities.
Declares that: (1) obligations of either Corporation, and obligations insured by any such corporation shall not be obligations of, or guaranteed as to principal or interest by, the United States or any Federal agency; and (2) assistance from the NIC shall not be treated as a direct or indirect guarantee of any payment by the United States of principal or interest on any security.
Amends the Internal Revenue Code to prescribe guidelines for the tax treatment of distributions from qualified retirement plans investing in public benefit bonds (defined as any obligation issued after the date of the enactment of this Act if: (1) 95 percent or more of the net proceeds of such obligation are used in connection with the financing or refinancing of infrastructure facilities; (2) such obligation has received a published rating, and (3) development of such infrastructure facilities is undertaken by a governmental entity or public-private partnership).
Cosponsors 6
Members who signed on, in the order they did. Signatures ran from Jan 21, 2004 to Apr 20, 2004, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Major R. Owens | Original | Jan 21, 2004 |
| D-TX | Martin Frost | Original | Jan 21, 2004 |
| D-TX | Chris Bell | Feb 10, 2004 | |
| D-NY | Louise McIntosh Slaughter | Feb 26, 2004 | |
| D-AZ | Raúl M. Grijalva | Feb 26, 2004 | |
| D-CA | Barbara Lee | Apr 20, 2004 |
Actions 5
Everything that happened, newest first.
- Feb 2, 2004Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, for a period to be subsequently determined by the Chairman.
- Jan 22, 2004Referred to the Subcommittee on Highways, Transit and Pipelines.
- Jan 22, 2004Referred to the Subcommittee on Water Resources and Environment.
- Jan 21, 2004Introduced in House
- Jan 21, 2004Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
Assigned by the Library of Congress. Policy area: Transportation and Public Works.
- Accounting
- Administrative fees
- Airports
- Auditing
- Bridges
- Building construction
- Business records
- Capital investments
- Commerce
- Congress
- Congressional investigations
- Congressional oversight
- Congressional reporting requirements
- Construction industries
- Construction workers
- Dividends
- Economics and Public Finance
- Elementary and secondary education
- Environmental Protection
- Executive reorganization
- Federal-state relations
- Federally-guaranteed loans
- Fees
- Finance and Financial Sector
- Financial statements
- Government contractors
- Government corporations
- Government insurance
- Government lending
- Government Operations and Politics
- Government paperwork
- Hazardous wastes
- Income tax
- Infrastructure
- Infrastructure (Economics)
- Insurance companies
- Interest
- Intermodal transportation
- Investment guaranty insurance
- Labor and Employment
- Leases
- Marine terminals
- Mass rapid transit
- Minimum wages
- Mutual funds
- Pension funds
- Pollution control
- Privatization
- Public meetings
- Public-private partnerships
- Railroad engineering
- Railroad freight operations
- Railroad passenger traffic
- Reinsurance
- Revolving funds
- Road construction
- Roads and highways
- School buildings
- Securities
- Sewage treatment
- Sewerage
- Strategic planning
- Subsidiary corporations
- Tax-exempt securities
- Taxation
- Terminals (Transportation)
- Transportation and Public Works
- Transportation engineering
- Tunnels
- Wages
- Waste water treatment
- Water Resources Development
- Water treatment plants
- Waterways
Text 1
Each version as it was printed, newest first.
- Jan 21, 2004Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.