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National Infrastructure Development Act of 1996

Introduced: March 26, 1996 Introduced by: DeLauro, Rosa L. Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 8, 1996
Referred to the Subcommittee on Aviation.
Apr 8, 1996
Referred to the Subcommittee on Railroads.
Apr 8, 1996
Referred to the Subcommittee on Water Resources and Environment.
Apr 8, 1996
Referred to the Subcommittee on Surface Transportation.
Apr 4, 1996
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
Mar 26, 1996
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Banking and 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.
Mar 26, 1996
Introduced in House
 Plain-English summary Congressional Research Service

National Infrastructure Development Act of 1996 - Establishes as a wholly owned Government corporation: (1) the National Infrastructure Development Corporation (NIDC), which shall make new sources of financing (including public benefit bonds) available for the development of infrastructure facilities; and (2) the National Infrastructure Insurance Corporation (NIIC), which shall be a subsidiary of NIDC issuing insurance, reinsurance and related undertakings with respect to obligations for development of such facilities. Requires NIDC and NIIC to conduct their respective businesses as self-supporting entities.

Directs the boards of directors of each to establish criteria for determining eligibility for financial assistance.

Sets forth provisions regarding: (1) initial targeting of ready-to-go projects; (2) development risk insurance; (3) discretion of NIDC and NIIC to provide assistance; (4) final decisions regarding providing assistance to be made by an independent investment committee; and (5) capitalization, organization, and management of NIDC and NIIC.

Requires the NIDC to prepare and revise as necessary a strategic plan for the transition of NIDC and all its subsidiaries to a government-sponsored enterprise, and for the sale or transfer to investors other than the Federal Government of NIDC's voting securities. Authorizes appropriations.

What's happening now April 8, 1996

Referred to the Subcommittee on Aviation.

 Committees of jurisdiction 8