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National Infrastructure Development Act of 1997

Introduced: February 12, 1997 Introduced by: DeLauro, Rosa L. Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 12 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 28, 1997
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
Feb 28, 1997
Referred to the Subcommittee on Housing and Community Opportunity.
Feb 24, 1997
Referred to the Subcommittee on Aviation.
Feb 24, 1997
Referred to the Subcommittee on Railroads.
Feb 24, 1997
Referred to the Subcommittee on Surface Transportation.
Feb 24, 1997
Referred to the Subcommittee on Water Resources and Environment.
Feb 12, 1997
Referred to House Ways and Means
Feb 12, 1997
Referred to House Banking and Financial Services
Feb 12, 1997
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.
Feb 12, 1997
Referred to House Transportation and Infrastructure
Feb 12, 1997
Sponsor introductory remarks on measure. (CR H514)
Feb 12, 1997
Introduced in House
 Plain-English summary Congressional Research Service

National Infrastructure Development Act of 1997 - Establishes as a wholly owned Government corporation: (1) the National Infrastructure Development Corporation (NIDC), which shall make new sources of financing available (including public benefit bonds) 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.

Provides for: (1) initial targeting of ready-to-go projects; (2) development risk insurance; (3) the discretion of NIDC and NIIC to provide assistance; (4) final decisions on 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 February 28, 1997

Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.

 Committees of jurisdiction 9
 Cosponsors 4
All 4 Democratic 4