Simple Functions
LEGISLATION/H.R. 7231

Infrastructure Bank for America Act of 2020

116-HR-7231116th CongressIntroduced Jun 15, 2020Transportation and Public Works
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Sponsor

Rep. Webster, Daniel [R-FL-11](R-FL-11)
6 cosponsors

Summary

Infrastructure Bank for America Act of 2020

This bill provides for the establishment of the Infrastructure Bank Holding Company (IBHC), which shall be the parent company of the Infrastructure Bank for America (the bank). The bank shall provide (1) equity investments, direct loans, indirect loans, and loan guarantees for the construction or maintenance of revenue-producing infrastructure projects in the United States with sufficient revenue sources and guarantees to support the interest and principal payments to such bank; and (2) direct and indirect loans and loan guarantees to state and local governments and state infrastructure banks for the construction or maintenance of infrastructure projects. At least 7% of the dollar amount of the loans, equity investments, and loan guarantees shall be for infrastructure projects in rural areas.

The Board of Governors of the Federal Reserve System shall have oversight and supervisory authority over the IBHC and the bank. The Department of the Treasury shall oversee and supervise the issuance of bonds by the IBHC and the bank. The bank shall 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 IBHC for an equity investment at its original issue.

Subjects

Business investment and capitalGovernment lending and loan guaranteesIncome tax creditsIncome tax deductionsInfrastructure developmentInterest, dividends, interest ratesRural conditions and developmentSecuritiesState and local finance

Actions (9)

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Jun 16, 2020House committee actions
Referred to the Subcommittee on Water Resources and Environment.
Jun 16, 2020House committee actions
Referred to the Subcommittee on Highways and Transit.
Jun 16, 2020House committee actions
Referred to the Subcommittee on Aviation.
Jun 16, 2020House committee actions
Referred 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.
Jun 15, 2020House floor actions
Referred 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.
Jun 15, 2020House floor actions
Referred 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.
Jun 15, 2020House floor actions
Introduced in House
Jun 15, 2020Library of Congress
Introduced in House
Jun 15, 2020Library of Congress
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