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118th Congress Finance and Financial Sector

H.R. 4052: National Infrastructure Bank Act of 2023

Introduced

  1. Introduced (completed)Jun 13, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Jun 13, 2023

National Infrastructure Bank Act of 2023

This bill creates the National Infrastructure Bank to facilitate the long-term financing of infrastructure projects.

Specifically, the bank must provide loans to entities—including states, public utilities, and public-private partnerships—for financing, developing, or operating eligible infrastructure projects. An eligible project must have a public sponsor as well as local, regional, or national significance.

Read the full summary

The bill treats the bank as a government corporation exempt from tax and treats contributions to the bank as charitable contributions.

The bill also provides for criteria and preferences for deciding whether to provide a loan, such as whether a project promotes job creation or provides environmental benefits.

The bank shall issue stock and may also issue bonds and maintain a discount line of credit with the Federal Reserve System.

The bank must apply for a national bank charter and, once chartered, accept deposits from individuals, corporations, public entities, or any other source and pay interest on those deposits.

The bill imposes requirements related to the bank's operation, such as minimum reserve requirements and requirements for handling loan losses.

In addition, the bank must facilitate the organization of at least seven regional economic accelerator planning groups to, among other activities, identify infrastructure needs and priorities.

Within five years, the Government Accountability Office must report on the bank's activities.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

47

Who scored on this bill

6 points earned
  1. 1Danny Davis D-IL SponsorIntroduced, reached a cosponsor milestone2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Danny Davis

History

  1. Jun 13, 2023Introduced in the House by Danny Davis.
Show the full action history (7 actions)
  1. Jun 16, 2023Referred to the Subcommittee on Innovation, Data, and Commerce.
  2. Jun 13, 2023Introduced in House
  3. Jun 13, 2023Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Transportation and Infrastructure, Financial Services, Education and the Workforce, Natural Resources, and the Budget, 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.
  4. Jun 13, 2023Referred to the Subcommittee on Highways and Transit.
  5. Jun 13, 2023Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
  6. Jun 13, 2023Referred to the Subcommittee on Water Resources and Environment.
  7. Jun 13, 2023Referred to the Subcommittee on Aviation.