Federal Infrastructure Bank Act of 2023
USA118th CongressHR-490| House
| Updated: 2/1/2023
Daniel Webster
Republican Representative
Florida
Cosponsors (3)
Committees (8)
• Railroads, Pipelines, and Hazardous Materials Subcommittee• Transportation and Infrastructure Committee• Ways and Means Committee• Water Resources and Environment Subcommittee• Highways and Transit Subcommittee• Financial Services Committee• Coast Guard and Maritime Transportation Subcommittee• Aviation Subcommittee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Introduced in House
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.
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Referred to the Subcommittee on Highways and Transit.
Referred to the Subcommittee on Water Resources and Environment.
Referred to the Subcommittee on Aviation.
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Transportation and Public Works
Business investment and capitalGovernment lending and loan guaranteesIncome tax creditsInfrastructure developmentInterest, dividends, interest ratesRural conditions and developmentSecuritiesState and local finance
Federal Infrastructure Bank Act of 2023
USA118th CongressHR-490| House
| Updated: 2/1/2023
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.
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Timeline
Introduced in House
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.
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Referred to the Subcommittee on Highways and Transit.
Referred to the Subcommittee on Water Resources and Environment.
Referred to the Subcommittee on Aviation.
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Daniel Webster
Republican Representative
Florida
Cosponsors (3)
Committees (8)
• Railroads, Pipelines, and Hazardous Materials Subcommittee• Transportation and Infrastructure Committee• Ways and Means Committee• Water Resources and Environment Subcommittee• Highways and Transit Subcommittee• Financial Services Committee• Coast Guard and Maritime Transportation Subcommittee• Aviation Subcommittee
Transportation and Public Works
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Business investment and capitalGovernment lending and loan guaranteesIncome tax creditsInfrastructure developmentInterest, dividends, interest ratesRural conditions and developmentSecuritiesState and local finance