Transportation and Infrastructure Committee, Highways and Transit Subcommittee
Introduced
In Committee
On Floor
Passed Chamber
Enacted
National Infrastructure Investment Corporation Act of 2023 This bill establishes the National Infrastructure Investment Corporation as a government corporation to finance infrastructure projects that are beyond the financing capabilities of states and cities, including to (1) prioritize projects in a fair and efficient manner, and (2) minimize financial costs to the federal government. The corporation must provide loans, loan guarantees, and bonds to eligible applicants for infrastructure projects (including transportation, energy, environment, and telecommunications projects) in the United States. The corporation must submit a report to Congress describing each application 60 days before any loan or loan guarantee is awarded under this bill. The corporation may award the loan or loan agreement after such period unless Congress enacts a joint resolution disapproving the application with an explanation for such disapproval. An application that addresses the basis for the disapproval may be resubmitted to the corporation. Every five years, the Government Accountability Office must evaluate the activities of the corporation from the previous five fiscal years and submit a report to Congress.
National Infrastructure Investment Corporation Act of 2021
Introduced in House
Referred to the House Committee on Transportation and Infrastructure.
Referred to the Subcommittee on Highways and Transit.
Transportation and Public Works
National Infrastructure Investment Corporation Act of 2023
USA118th CongressHR-3360| House
| Updated: 5/17/2023
National Infrastructure Investment Corporation Act of 2023 This bill establishes the National Infrastructure Investment Corporation as a government corporation to finance infrastructure projects that are beyond the financing capabilities of states and cities, including to (1) prioritize projects in a fair and efficient manner, and (2) minimize financial costs to the federal government. The corporation must provide loans, loan guarantees, and bonds to eligible applicants for infrastructure projects (including transportation, energy, environment, and telecommunications projects) in the United States. The corporation must submit a report to Congress describing each application 60 days before any loan or loan guarantee is awarded under this bill. The corporation may award the loan or loan agreement after such period unless Congress enacts a joint resolution disapproving the application with an explanation for such disapproval. An application that addresses the basis for the disapproval may be resubmitted to the corporation. Every five years, the Government Accountability Office must evaluate the activities of the corporation from the previous five fiscal years and submit a report to Congress.