A bill to facilitate efficient investments and financing of infrastructure projects and new, long-term job creation through the establishment of an Infrastructure Financing Authority, and for other purposes.
Building and Renewing Infrastructure for Development and Growth in Employment Act or the BRIDGE Act This bill establishes the Infrastructure Financing Authority (IFA) as a wholly-owned government corporation to provide direct loans and loan guarantees to eligible entities to facilitate the construction, consolidation, alteration, or repair of transportation, water, and energy infrastructure projects. Such projects shall have costs reasonably anticipated to equal or exceed $50 million ($10 million for rural infrastructure projects). The bill establishes an Office of Technical and Rural Assistance and an Office of Special Inspector General for the IFA. The bill prohibits IFA financing of a project if: it is private or does not create a public benefit, or the loan applicant is unable to demonstrate a sufficient revenue stream. The bill establishes within the IFA the Project Delivery Task Force to establish and coordinate a permitting timetable for the environmental review of a project. The Chief Executive Officer of the IFA shall: establish fees with respect to loans and loan guarantees that are sufficient to cover the IFA's administrative costs; and take actions to make the IFA a self-sustaining entity, with administrative and federal credit subsidy costs fully funded by fees and risk premiums on loans and loan guarantees. The bill amends the Internal Revenue Code to increase from $15 billion to $16 billion the aggregate amount of proceeds from tax-exempt facility bonds that the Department of Transportation shall allocate among qualified highway or surface freight transfer facilities.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Transportation and Public Works
Aviation and airportsDams and canalsElectric power generation and transmissionEnergy storage, supplies, demandEnvironmental assessment, monitoring, researchGovernment corporations and government-sponsored enterprisesGovernment lending and loan guaranteesIncome tax exclusionInfrastructure developmentLicensing and registrationsMarine and inland water transportationNavigation, waterways, harborsPublic-private cooperationPublic transitRailroadsRoads and highwaysRural conditions and developmentSecuritiesState and local financeTransportation programs fundingWater qualityWater resources fundingWater use and supply
A bill to facilitate efficient investments and financing of infrastructure projects and new, long-term job creation through the establishment of an Infrastructure Financing Authority, and for other purposes.
USA115th CongressS-1168| Senate
| Updated: 5/17/2017
Building and Renewing Infrastructure for Development and Growth in Employment Act or the BRIDGE Act This bill establishes the Infrastructure Financing Authority (IFA) as a wholly-owned government corporation to provide direct loans and loan guarantees to eligible entities to facilitate the construction, consolidation, alteration, or repair of transportation, water, and energy infrastructure projects. Such projects shall have costs reasonably anticipated to equal or exceed $50 million ($10 million for rural infrastructure projects). The bill establishes an Office of Technical and Rural Assistance and an Office of Special Inspector General for the IFA. The bill prohibits IFA financing of a project if: it is private or does not create a public benefit, or the loan applicant is unable to demonstrate a sufficient revenue stream. The bill establishes within the IFA the Project Delivery Task Force to establish and coordinate a permitting timetable for the environmental review of a project. The Chief Executive Officer of the IFA shall: establish fees with respect to loans and loan guarantees that are sufficient to cover the IFA's administrative costs; and take actions to make the IFA a self-sustaining entity, with administrative and federal credit subsidy costs fully funded by fees and risk premiums on loans and loan guarantees. The bill amends the Internal Revenue Code to increase from $15 billion to $16 billion the aggregate amount of proceeds from tax-exempt facility bonds that the Department of Transportation shall allocate among qualified highway or surface freight transfer facilities.
Aviation and airportsDams and canalsElectric power generation and transmissionEnergy storage, supplies, demandEnvironmental assessment, monitoring, researchGovernment corporations and government-sponsored enterprisesGovernment lending and loan guaranteesIncome tax exclusionInfrastructure developmentLicensing and registrationsMarine and inland water transportationNavigation, waterways, harborsPublic-private cooperationPublic transitRailroadsRoads and highwaysRural conditions and developmentSecuritiesState and local financeTransportation programs fundingWater qualityWater resources fundingWater use and supply