National Infrastructure Bank Act of 2023
Latest action · Jun 16, 2023 Referred to the Subcommittee on Innovation, Data, and Commerce.
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.
- IntroducedJun 13, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
National Infrastructure Bank Act of 2023
This bill creates the National Infrastructure Bank to facilitate the long-term financing of infrastructure projects.
Specifically, the bank must provide loans to entities—including states, public utilities, and public-private partnerships—for financing, developing, or operating eligible infrastructure projects. An eligible project must have a public sponsor as well as local, regional, or national significance.
The bill treats the bank as a government corporation exempt from tax and treats contributions to the bank as charitable contributions.
The bill also provides for criteria and preferences for deciding whether to provide a loan, such as whether a project promotes job creation or provides environmental benefits.
The bank shall issue stock and may also issue bonds and maintain a discount line of credit with the Federal Reserve System.
The bank must apply for a national bank charter and, once chartered, accept deposits from individuals, corporations, public entities, or any other source and pay interest on those deposits.
The bill imposes requirements related to the bank's operation, such as minimum reserve requirements and requirements for handling loan losses.
In addition, the bank must facilitate the organization of at least seven regional economic accelerator planning groups to, among other activities, identify infrastructure needs and priorities.
Within five years, the Government Accountability Office must report on the bank's activities.
Cosponsors 47
Members who signed on, in the order they did. Signatures ran from Jun 30, 2023 to Dec 20, 2024.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Barbara Lee | Jun 30, 2023 | |
| D-CA | Eric Swalwell | Jul 12, 2023 | |
| D-PA | Brendan F. Boyle | Jul 27, 2023 | |
| D-OH | Greg Landsman | Jul 27, 2023 | |
| D-NM | Melanie A. Stansbury | Aug 4, 2023 | |
| D-PA | Dwight Evans | Aug 15, 2023 | |
| D-IL | Jesús G. "Chuy" García | Aug 15, 2023 | |
| D-OH | Marcy Kaptur | Aug 15, 2023 | |
| D-NY | Adriano Espaillat | Aug 29, 2023 | |
| D-CA | Jimmy Panetta | Aug 29, 2023 | |
| D-MI | Shri Thanedar | Aug 29, 2023 | |
| D-NM | Teresa Leger Fernandez | Aug 29, 2023 | |
| D-MI | Rashida Tlaib | Sep 1, 2023 | |
| D-NY | Jerrold Nadler | Sep 18, 2023 | |
| D-WA | Adam Smith | Oct 2, 2023 |
Committees 7
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 Jun 13, 2023 |
| Commerce, Manufacturing, and Trade Subcommittee | Referred Jun 16, 2023 | |
| House | Ways and Means Committee | Referred Jun 13, 2023 |
| House | Transportation and Infrastructure Committee | Referred Jun 13, 2023 |
| Highways and Transit Subcommittee | Referred Jun 13, 2023 | |
| Aviation Subcommittee | Referred Jun 13, 2023 | |
| Water Resources and Environment Subcommittee | Referred Jun 13, 2023 | |
| Railroads, Pipelines, and Hazardous Materials Subcommittee | Referred Jun 13, 2023 | |
| House | Financial Services Committee | Referred Jun 13, 2023 |
| House | Education and Workforce Committee | Referred Jun 13, 2023 |
| House | Natural Resources Committee | Referred Jun 13, 2023 |
| House | Budget Committee | Referred Jun 13, 2023 |
Actions 7
Everything that happened, newest first.
- Jun 16, 2023Referred to the Subcommittee on Innovation, Data, and Commerce.
- Jun 13, 2023Introduced in House
- Jun 13, 2023Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Transportation and Infrastructure, Financial Services, Education and the Workforce, Natural Resources, and the Budget, 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.
- Jun 13, 2023Referred to the Subcommittee on Highways and Transit.
- Jun 13, 2023Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
- Jun 13, 2023Referred to the Subcommittee on Water Resources and Environment.
- Jun 13, 2023Referred to the Subcommittee on Aviation.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Lists H2885H.R. 4052–4087 | — | Jun 13, 2023 |
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. 169, no. 103, June 13, 2023, page H2885.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF12585 | National Infrastructure Bank: Proposals in the 118th Congress Archived | Resource | Feb 5, 2024 |
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 Bank, and for other purposes.
- Short Title(s) as Introduced
- National Infrastructure Bank Act of 2023
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Accounting and auditing
- Advisory bodies
- Air quality
- Alternative and renewable resources
- Aviation and airports
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Budget deficits and national debt
- Building construction
- Buy American requirements
- Charitable contributions
- Chemical and biological weapons
- Civil actions and liability
- Computer security and identity theft
- Congressional operations and organization
- Congressional oversight
- Congressional-executive branch relations
- Contracts and agency
- Corporate finance and management
- Credit and credit markets
- Debt collection
- Economic development
- Educational facilities and institutions
- Electric power generation and transmission
- Employee benefits and pensions
- Employee hiring
- Employment and training programs
- Employment discrimination and employee rights
- Energy efficiency and conservation
- Energy storage, supplies, demand
- Federal Reserve System
- Finance and Financial Sector
- Financial services and investments
- Fires
- Government corporations and government-sponsored enterprises
- Government employee pay, benefits, personnel management
- Government information and archives
- Government lending and loan guarantees
- Government studies and investigations
- House of Representatives
- Housing and community development funding
- Housing supply and affordability
- Infrastructure development
- Interest, dividends, interest rates
- Intergovernmental relations
- Land use and conservation
- Members of Congress
- Minority and disadvantaged businesses
- Natural disasters
- Parks, recreation areas, trails
- Public contracts and procurement
- Public transit
- Public-private cooperation
- Railroads
- Securities
- Senate
- State and local finance
- Telephone and wireless communication
- Transportation programs funding
- Unemployment
- User charges and fees
- Water quality
- Water use and supply
Text 1
Each version as it was printed, newest first.
- Jun 13, 2023Introduced 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.
