Skip to main content
HR 3715 108th Congress House Transportation and Public Works Accounting Administrative fees Airports Auditing Bridges Building construction Business records Capital investments Commerce Congress Congressional investigations Congressional oversight Congressional reporting requirements Construction industries Construction workers Dividends Economics and Public Finance Elementary and secondary education Environmental Protection

National Infrastructure Development Act of 2004

Introduced: January 21, 2004 Introduced by: DeLauro, Rosa L. Democratic · Connecticut See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 2, 2004
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, for a period to be subsequently determined by the Chairman.
Jan 22, 2004
Referred to the Subcommittee on Water Resources and Environment.
Jan 22, 2004
Referred to the Subcommittee on Highways, Transit and Pipelines.
Jan 21, 2004
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.
Jan 21, 2004
Introduced in House
 Plain-English summary Congressional Research Service

National Infrastructure Development Act of 2004 - Establishes the National Infrastructure Development Corporation and the National Infrastructure Insurance Corporation as wholly owned Government corporations that shall conduct their respective businesses as self-supporting entities.

Empowers the National Infrastructure Development Corporation to make senior and subordinated loans and purchase senior and subordinated debt securities and equity securities, and to enter into commitments to make any such loan or security purchases, on such terms as the Corporation may determine, in its discretion, to be appropriate, the proceeds of which are to be used to finance or refinance development of infrastructure facilities, and to provide preconstruction phase assistance.

Empowers the National Infrastructure Insurance Corporation to insure and reinsure bonds, debentures, notes, debt instruments, loans, and any interest thereon, the proceeds of which are to be used to finance or refinance development of infrastructure facilities.

Declares that: (1) obligations of either Corporation, and obligations insured by any such corporation shall not be obligations of, or guaranteed as to principal or interest by, the United States or any Federal agency; and (2) assistance from the NIC shall not be treated as a direct or indirect guarantee of any payment by the United States of principal or interest on any security.

Amends the Internal Revenue Code to prescribe guidelines for the tax treatment of distributions from qualified retirement plans investing in public benefit bonds (defined as any obligation issued after the date of the enactment of this Act if: (1) 95 percent or more of the net proceeds of such obligation are used in connection with the financing or refinancing of infrastructure facilities; (2) such obligation has received a published rating, and (3) development of such infrastructure facilities is undertaken by a governmental entity or public-private partnership).

What's happening now February 2, 2004

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, for a period to be subsequently determined by the Chairman.

 Committees of jurisdiction 6