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National Infrastructure Development Act of 1999

Introduced: January 6, 1999 Introduced by: DeLauro, Rosa L. Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 12, 1999
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
Feb 12, 1999
Referred to the Subcommittee on Housing and Community Opportunity.
Jan 19, 1999
Referred to the Subcommittee on Water Resources and Environment.
Jan 19, 1999
Referred to the Subcommittee on Ground Transportation.
Jan 6, 1999
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.
Jan 6, 1999
Introduced in House
 Plain-English summary Congressional Research Service

National Infrastructure Development Act of 1999 - 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 12, 1999

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

 Committees of jurisdiction 7
 Cosponsors 2
All 2 Democratic 2