Building and Renewing Infrastructure for Development and Growth in Employment Act or the BRIDGE Act
Establishes the Infrastructure Financing Authority (IFA) as a wholly-owned government corporation, headed by a Chief Executive Officer and managed by a Board of Directors, which shall provide direct loans and loan guarantees to facilitate the construction, consolidation, alteration, or repair of transportation, water, and energy infrastructure projects. Requires infrastructure projects assisted under this Act to have costs reasonably anticipated to equal or exceed $50 million ($10 million for rural infrastructure projects).
Sets forth special requirements for infrastructure projects in rural areas.
Establishes an Office of Technical and Rural Assistance to:
Establishes an Office of Special Inspector General to conduct, supervise, and coordinate audits and investigations of the business activities of IFA.
Prohibits IFA financing of a project if:
Sets forth terms for loans or loan guarantees for eligible infrastructure projects and for the repayment of such loans. Requires an annual independent audit of IFA finances.
Requires the President, immediately after IFA approves financing for a proposed project, to convene a meeting of representatives of all permitting agencies to:
Requires the Chief Executive Officer of IFA to:
Amends the Internal Revenue Code to increase from $15 billion to $16 billion the aggregate amount of proceeds from tax-exempt facility bonds the Department of Transportation shall allocate among qualified highway or surface freight transfer facilities.