S. 1716 113th Congress Senate

BRIDGE Act

Official title: A bill to facilitate efficient investments and financing of infrastructure projects and new long-term job creation through the establishment of an Infrastructu… Show full official titleShow less

Introduced: May 22, 2014 Introduced by: Mark R. Warner Democratic · Virginia See on congress.gov

Transportation and Public Works Aviation and airportsDams and canalsElectric power generation and transmissionEnergy storage, supplies, demand

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Government corporations and government-sponsored enterprisesGovernment lending and loan guaranteesInfrastructure developmentMarine and inland water transportationNavigation, waterways, harborsPublic transitPublic-private cooperationRailroadsRoads and highwaysRural conditions and developmentTransportation programs fundingWater qualityWater resources fundingWater use and supply

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Nov 14, 2013

Read twice and referred to the Committee on Commerce, Science, and Transportation.

Nov 14, 2013

Introduced in Senate

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Latest action November 14, 2013

Read twice and referred to the Committee on Commerce, Science, and Transportation.

Plain-English summary Congressional Research Service

Building and Renewing Infrastructure for Development and Growth in Employment Act or BRIDGE Act - Establishes the Infrastructure Financing Authority (IFA) as a wholly-owned government corporation, headed by a Chief Executive Officer and managed by a Board of Directors, which shall provide direct loans and loan guarantees to facilitate the construction, consolidation, alteration, or repair of transportation, water, and energy infrastructure projects. Requires infrastructure projects assisted under this Act to have costs that are reasonably anticipated to equal or exceed $50 million ($10 million for rural infrastructure projects).

Sets forth special requirements for infrastructure projects in rural areas. Establishes an Office of Technical and Rural Assistance to provide technical assistance to state and local governments and parties in public-private partnerships in the development and financing of eligible infrastructure projects, including rural infrastructure projects.

Establishes an Office of Special Inspector General to conduct, supervise, and coordinate audits and investigations of the business activities of IFA.

Prohibits financial assistance from IFA for any private project for which no public benefit is created. Sets forth terms for loans or loan guarantees for eligible infrastructure projects and for the repayment of such loans. Requires an annual independent audit of IFA finances.

Requires the Chief Executive Officer of IFA to: (1) establish fees with respect to loans and loan guarantees that are sufficient to cover IFA's administrative costs; and (2) take actions to make IFA a self-sustaining entity, with administrative and federal credit subsidy costs fully funded by fees and risk premiums on loans and loan guarantees.

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