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Investing for Tomorrow's Schools Act of 2005

Introduced: November 18, 2005 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 18, 2005
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Nov 18, 2005
Sponsor introductory remarks on measure. (CR S13366-13367)
Nov 18, 2005
Introduced in Senate
 Plain-English summary Congressional Research Service

Investing for Tomorrow's Schools Act of 2005 - Authorizes the Secretary of Education to enter into cooperative agreements with states to establish state and multistate infrastructure banks for education.

Provides, under such agreements, that the Secretary will award grants to states for initial capital to make loans through such banks to local educational agencies and public libraries for construction, reconstruction, or renovation of public elementary or secondary schools and public library facilities.

Grants congressional consent to states to enter into an interstate compact to establish a multistate infrastructure bank through such an agreement with the Secretary.

Includes among infrastructure bank requirements that states contribute from nonfederal sources at least 25% of the amount of the federal grant.

Lists types of projects eligible to be funded by such bank loans. Applies Davis-Bacon Act wage requirements with respect to individuals employed on such projects.

What's happening now November 18, 2005

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1