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Bills
House Bill 7231
116th Congress(2019-2020)
Infrastructure Bank for America Act of 2020
Introduced
Introduced
Introduced in House on Jun 15, 2020
Overview
Text
Introduced
Jun 15, 2020
Latest Action
Jun 16, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7231
Congress
116
Policy Area
Transportation and Public Works
Transportation and Public Works
Primary focus of measure is all aspects of transportation modes and conveyances, including funding and safety matters; Coast Guard; infrastructure development; travel and tourism. Measures concerning water resources and navigation projects may fall under Water Resources Development policy area.
Sponsorship by Party
Republican
Daniel Webster
Florida
Republican
Doug LaMalfa
California
Republican
Ross Spano
Florida
Republican
Rodney Davis
Illinois
Republican
Tom Reed
New York
Republican
Dan Meuser
Pennsylvania
Republican
Joe Wilson
South Carolina
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Infrastructure Bank for America Act of 2020

This bill provides for the establishment of the Infrastructure Bank Holding Company (IBHC), which shall be the parent company of the Infrastructure Bank for America (the bank). The bank shall provide (1) equity investments, direct loans, indirect loans, and loan guarantees for the construction or maintenance of revenue-producing infrastructure projects in the United States with sufficient revenue sources and guarantees to support the interest and principal payments to such bank; and (2) direct and indirect loans and loan guarantees to state and local governments and state infrastructure banks for the construction or maintenance of infrastructure projects. At least 7% of the dollar amount of the loans, equity investments, and loan guarantees shall be for infrastructure projects in rural areas.

The Board of Governors of the Federal Reserve System shall have oversight and supervisory authority over the IBHC and the bank. The Department of the Treasury shall oversee and supervise the issuance of bonds by the IBHC and the bank. The bank shall 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 IBHC for an equity investment at its original issue.

Text (1)
Introduced in House
June 15, 2020
Actions (6)
06/16/2020
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
06/16/2020
Referred to the Subcommittee on Water Resources and Environment.
06/16/2020
Referred to the Subcommittee on Highways and Transit.
06/16/2020
Referred to the Subcommittee on Aviation.
06/15/2020
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.
06/15/2020
Introduced in House
Public Record
Record Updated
Feb 8, 2022 11:15:09 PM
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