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HR 490 118th Congress House Transportation and Public Works Business investment and capital Government lending and loan guarantees Income tax credits Infrastructure development Interest, dividends, interest rates Rural conditions and development Securities State and local finance

Federal Infrastructure Bank Act of 2023

Introduced: January 24, 2023 Introduced by: Webster, Daniel Republican · Florida See on congress.gov
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 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 1, 2023
Referred to the Subcommittee on Water Resources and Environment.
Feb 1, 2023
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Feb 1, 2023
Referred to the Subcommittee on Highways and Transit.
Feb 1, 2023
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Feb 1, 2023
Referred to the Subcommittee on Aviation.
Jan 24, 2023
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 24, 2023
Introduced in House
 Plain-English summary Congressional Research Service

Federal Infrastructure Bank Act of 2023

This bill establishes the Federal Infrastructure Bank and the Federal Infrastructure Bank Holding Company (FIBHC). The bank shall be a wholly owned subsidiary of the FIBHC.

The bank must provide equity investments, direct loans, and loan guarantees for the planning, predevelopment, design, construction, operation or maintenance of infrastructure projects in the United States with sufficient revenue sources and guarantees to support the interest and principal payments to the bank. At least 10% of the loans, equity investments, and loan guarantees must be for infrastructure projects in rural areas.

The Board of Governors of the Federal Reserve System shall have oversight and supervisory authority over the FIBHC and the bank. The bank must establish an Infrastructure Guarantee Fund to cover loans and loan guarantees in the event of nonpayment by loan recipients.

The bill provides for a taxpayer credit in an amount equal to 10% of the amount such taxpayer paid to the FIBHC for an equity investment at its original issue.

What's happening now February 1, 2023

Referred to the Subcommittee on Water Resources and Environment.

 Committees of jurisdiction 8
 Cosponsors 1
All 1 Democratic 1