HR 2553 · 113th Congress · Government Operations and Politics
National Infrastructure Development Bank Act of 2013
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Water Resources and Environment.(2013-06-28)
Plain Language Summary
[AI summary unavailable — showing source text]
National Infrastructure Development Bank Act of 2013 - Establishes the National Infrastructure Development Bank as a wholly owned government corporation. Makes the Bank's Board of Directors responsible for monitoring and overseeing energy, environmental, telecommunications, and transportation infrastructure projects. Authorizes the Board to: (1) make senior and subordinated direct loans and loan guarantees to assist in the financing or refinancing of an infrastructure project, (2) issue public benefit bonds and provide financing to infrastructure projects, and (3) pay an interest subsidy to the issuer of American Infrastructure Bonds. Requires the Board to establish an Executive Committee, headed by the chief executive officer, to establish requirements and make recommendations for project proposals to be considered for financial assistance. Requires the Bank to establish a Risk Management Committee, headed by the chief risk officer, which shall: (1) create financial, credit, and operational risk management guidelines for the Bank; (2) set guidelines to ensure diversification of lending activities by both geographic region and infrastructure project type; (3) create conforming stan…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
20 Democrats