Simple Functions
LEGISLATION/H.R. 490

Federal Infrastructure Bank Act of 2023

118-HR-490118th CongressIntroduced Jan 24, 2023Transportation and Public Works
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Referred to the Subcommittee on Water Resources and Environment.

Sponsor

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

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.

Subjects

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

Actions (10)

Referred to the Subcommittee on Water Resources and Environment.
Feb 1, 2023House committee actions
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Feb 1, 2023House committee actions
Referred to the Subcommittee on Highways and Transit.
Feb 1, 2023House committee actions
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Feb 1, 2023House committee actions
Referred to the Subcommittee on Aviation.
Feb 1, 2023House 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.
Jan 24, 2023House 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.
Jan 24, 2023House 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.
Jan 24, 2023House floor actions
Introduced in House
Jan 24, 2023Library of Congress
Introduced in House
Jan 24, 2023Library of Congress
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