Federal Infrastructure Bank Act of 2023
Latest action · Feb 1, 2023 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.
- IntroducedJan 24, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Federal Infrastructure Bank Act of 2023
This bill establishes the Federal Infrastructure Bank and the Federal Infrastructure Bank Holding Company (FIBHC). The bank shall be a wholly owned subsidiary of the FIBHC.
The bank must provide equity investments, direct loans, and loan guarantees for the planning, predevelopment, design, construction, operation or maintenance of infrastructure projects in the United States with sufficient revenue sources and guarantees to support the interest and principal payments to the bank. At least 10% of the loans, equity investments, and loan guarantees must be for infrastructure projects in rural areas.
The Board of Governors of the Federal Reserve System shall have oversight and supervisory authority over the FIBHC and the bank. The bank must establish an Infrastructure Guarantee Fund to cover loans and loan guarantees in the event of nonpayment by loan recipients.
The bill provides for a taxpayer credit in an amount equal to 10% of the amount such taxpayer paid to the FIBHC for an equity investment at its original issue.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Jan 25, 2023 to Apr 19, 2023.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-TX | Colin Z. Allred | Jan 25, 2023 | |
| R-NY | Marcus J. Molinaro | Apr 17, 2023 | |
| D-CA | Salud O. Carbajal | Apr 19, 2023 |
Committees 3
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Transportation and Infrastructure Committee | Referred Jan 24, 2023 |
| Aviation Subcommittee | Referred Feb 1, 2023 | |
| Coast Guard and Maritime Transportation Subcommittee | Referred Feb 1, 2023 | |
| Highways and Transit Subcommittee | Referred Feb 1, 2023 | |
| Railroads, Pipelines, and Hazardous Materials Subcommittee | Referred Feb 1, 2023 | |
| Water Resources and Environment Subcommittee | Referred Feb 1, 2023 | |
| House | Financial Services Committee | Referred Jan 24, 2023 |
| House | Ways and Means Committee | Referred Jan 24, 2023 |
Actions 7
Everything that happened, newest first.
- Feb 1, 2023Referred to the Subcommittee on Aviation.
- Feb 1, 2023Referred to the Subcommittee on Coast Guard and Maritime Transportation.
- Feb 1, 2023Referred to the Subcommittee on Highways and Transit.
- Feb 1, 2023Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
- Feb 1, 2023Referred to the Subcommittee on Water Resources and Environment.
- Jan 24, 2023Introduced in House
- Jan 24, 2023Referred 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.
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.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 118-42 | THE STATE OF TRANSPORTATION109 pages | Transportation and Infrastructure Committee | Jan 17, 2024 |
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 establish the Federal Infrastructure Bank to facilitate investment in, and the long-term financing of, economically viable United States infrastructure projects that provide a public benefit, and for other purposes.
- Short Title(s) as Introduced
- Federal Infrastructure Bank Act of 2023
Subjects
Assigned by the Library of Congress. Policy area: Transportation and Public Works.
Text 1
Each version as it was printed, newest first.
- Jan 24, 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.
