National Infrastructure Development Bank Act of 2021
Latest action · Jul 14, 2021 Referred to the Subcommittee on Water Resources and Environment.
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.
- IntroducedJul 13, 2021
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
National Infrastructure Development Bank Act of 2021
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 bill establishes the National Infrastructure Development Bank Board, which must oversee the infrastructure projects. The board may make loans and loan guarantees to assist in financing infrastructure projects.
Further, the board must establish an executive committee, a risk management committee, an audit committee, and a compliance office.
To be eligible for financial assistance from the bank, an infrastructure project (1) must have a public benefit, as determined by the board; and (2) may not have a sole use or purpose that is private.
An infrastructure project must use iron, steel, and manufactured products that are made in the United States.
The bill also establishes accounting and reporting requirements. In particular, the Government Accountability Office must, within five years of this bill's enactment, submit a report to Congress evaluating the bank's activities.
Cosponsors 27
Members who signed on, in the order they did. Signatures ran from Jul 13, 2021 to Oct 21, 2022; 9 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Adriano Espaillat | Original | Jul 13, 2021 |
| D-IN | André Carson | Original | Jul 13, 2021 |
| D-CT | John B. Larson | Original | Jul 13, 2021 |
| D-MA | Katherine M. Clark | Original | Jul 13, 2021 |
| D-NY | Paul Tonko | Original | Jul 13, 2021 |
| D-GA | Sanford D. Bishop, Jr. | Original | Jul 13, 2021 |
| D-TN | Steve Cohen | Original | Jul 13, 2021 |
| D-FL | Theodore E. Deutch | Original | Jul 13, 2021 |
| D-NY | Thomas R. Suozzi | Original | Jul 13, 2021 |
| D-WI | Gwen Moore | Jul 16, 2021 | |
| D-TX | Henry Cuellar | Jul 16, 2021 | |
| D-CT | James A. Himes | Jul 16, 2021 | |
| D-IL | Janice D. Schakowsky | Jul 16, 2021 | |
| D-TN | Jim Cooper | Jul 16, 2021 | |
| D-VT | Peter Welch | Jul 16, 2021 | |
| D-MI | Rashida Tlaib | Jul 16, 2021 | |
| D-WA | Rick Larsen | Jul 16, 2021 | |
| D-OH | Tim Ryan | Jul 16, 2021 | |
| D-LA | Troy A. Carter | Jul 16, 2021 | |
| D-CA | John Garamendi | Jul 19, 2021 | |
| D-WI | Mark Pocan | Jul 19, 2021 | |
| D-PA | Brendan F. Boyle | Jul 27, 2021 | |
| D-MN | Ilhan Omar | Jul 28, 2021 | |
| D-PA | Conor Lamb | Jul 30, 2021 | |
| D-PA | Matt Cartwright | Aug 17, 2021 | |
| D-WA | Derek Kilmer | Aug 9, 2022 | |
| D-RI | David N. Cicilline | Oct 21, 2022 |
Committees 3
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Energy and Commerce Committee | Referred Jul 13, 2021 |
| House | Transportation and Infrastructure Committee | Referred Jul 13, 2021 |
| Aviation Subcommittee | Referred Jul 14, 2021 | |
| Economic Development, Public Buildings, and Emergency Management Subcommittee | Referred Jul 14, 2021 | |
| Highways and Transit Subcommittee | Referred Jul 14, 2021 | |
| Railroads, Pipelines, and Hazardous Materials Subcommittee | Referred Jul 14, 2021 | |
| Water Resources and Environment Subcommittee | Referred Jul 14, 2021 | |
| House | Financial Services Committee | Referred Jul 13, 2021 |
Actions 7
Everything that happened, newest first.
- Jul 14, 2021Referred to the Subcommittee on Aviation.
- Jul 14, 2021Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
- Jul 14, 2021Referred to the Subcommittee on Highways and Transit.
- Jul 14, 2021Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
- Jul 14, 2021Referred to the Subcommittee on Water Resources and Environment.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 167, no. 122, July 13, 2021, page H3625.
CRS reports 2
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 2
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF12111 | Bridging the Digital Divide: Broadband Workforce Considerations for the 118th Congress Archived | Resource | Dec 30, 2022 |
| IF11608 | National Infrastructure Bank: Proposals in the 117th Congress Archived | Resource | Sep 20, 2021 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
- Short Title(s) as Introduced
- National Infrastructure Development Bank Act of 2021
Subjects
Assigned by the Library of Congress. Policy area: Transportation and Public Works.
Text 1
Each version as it was printed, newest first.
- Jul 13, 2021Introduced 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
