118th Congress Transportation and Public Works
H.R. 490: Federal Infrastructure Bank Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Read the full summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Colin Allred D-TX
- Marcus Molinaro R-NY
- Salud Carbajal D-CA
Who scored on this bill
- 1Daniel Webster SponsorIntroduced, drew cross-party cosponsors2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Daniel Webster
History
- Introduced in the House by Daniel Webster.
Show the full action history (7 actions)
- Referred to the Subcommittee on Aviation.
- Referred to the Subcommittee on Coast Guard and Maritime Transportation.
- Referred to the Subcommittee on Highways and Transit.
- Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
- Referred to the Subcommittee on Water Resources and Environment.
- 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.