Skip to main content
HR 3339 117th Congress House Finance and Financial Sector

National Infrastructure Bank Act of 2021

Introduced: May 19, 2021 Introduced by: Davis, Danny K. Democratic · Illinois See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 5, 2021
Referred to the Subcommittee on Water, Oceans, and Wildlife.
Jul 5, 2021
Referred to the Subcommittee on National Parks, Forests, and Public Lands.
May 20, 2021
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
May 20, 2021
Referred to the Subcommittee on Water Resources and Environment.
May 20, 2021
Referred to the Subcommittee on Highways and Transit.
May 20, 2021
Referred to the Subcommittee on Aviation.
May 19, 2021
Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.
May 19, 2021
Introduced in House
 Plain-English summary Congressional Research Service

National Infrastructure Bank Act of 2021

This bill creates the National Infrastructure Bank to facilitate the long-term financing of infrastructure projects.

Specifically, the bank must provide loans to public and private entities for financing, developing, or operating eligible infrastructure projects. An eligible project must have a public sponsor as well as local, regional, or national significance.

The bill treats the bank as a government corporation exempt from tax and treats contributions to the bank as charitable contributions.

The bill also provides for criteria and preferences for deciding whether to provide a loan, such as whether a project promotes job creation or provides environmental benefits.

Projects that receive a loan must (1) pay all laborers and mechanics locally prevailing wages, and (2) use only certain U.S.-produced construction materials unless a waiver is secured from the bank.

The bank shall issue stock and may also issue bonds and maintain a discount line of credit with the Federal Reserve System.

The bank must apply for a national bank charter and, once chartered, accept deposits from individuals, corporations, and public entities and pay interest on those deposits.

The bill imposes requirements related to the bank's operation, such as minimum reserve requirements and requirements for handling loan losses.

In addition, the bank must facilitate the organization of at least seven regional economic accelerator planning groups to, among other activities, identify infrastructure needs and priorities.

Within five years, the Government Accountability Office must report on the bank's activities.

What's happening now July 5, 2021

Referred to the Subcommittee on Water, Oceans, and Wildlife.

 Committees of jurisdiction 13
 Cosponsors 11
All 11 Democratic 11