3.0.0 3977 2023-01-11T13:38:28Z 2023-01-11T13:38:28Z House HR 2017-10-05 115 [Congressional Record Volume 163, Number 160 (Thursday, October 5, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. FASO:H.R. 3977.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8 of the United States Constitution.[Page H7888]]]> hspw00 Transportation and Infrastructure Committee House Standing hspw12 Highways and Transit Subcommittee Referred to 2017-10-06T19:00:48Z Referred to 2017-10-05T13:02:30Z hswm00 Ways and Means Committee House Standing Referred to 2017-10-05T13:02:40Z hsba00 Financial Services Committee House Standing Referred to 2017-10-05T13:02:35Z 2017-10-06 hspw12 Highways and Transit Subcommittee 1 House committee actions Referred to the Subcommittee on Highways and Transit. Committee 2017-10-05 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-10-05 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-10-05 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. IntroReferral H11100 2 House floor actions hspw00 Transportation and Infrastructure Committee 2017-10-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-10-05 Introduced in House IntroReferral 1000 9 Library of Congress F000464 Rep. Faso, John J. [R-NY-19] John Faso R NY J. 19 N Transportation and Public Works Business investment and capital Government lending and loan guarantees Income tax credits Income tax deductions Infrastructure development Interest, dividends, interest rates Rural conditions and development Securities State and local finance Taxation of foreign income Transportation and Public Works 00 2017-10-05 Introduced in House 2018-07-05T17:03:19Z Infrastructure Bank for America Act of 2017

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) direct loans and loan guarantees to private entities for the construction or maintenance of revenue-producing infrastructure projects, and (2) 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 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 have oversight and supervisory authority over 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.

The bill amends the Internal Revenue Code to: (1) extend and modify the dividends received deduction for repatriated foreign earnings used to purchase holding company bonds, and (2) allow a new infrastructure bank holding company credit.

]]> Infrastructure Bank for America Act of 2017 Display Title Infrastructure Bank for America Act of 2017 Short Titles as Introduced Infrastructure Bank for America Act of 2017 Official Title as Introduced To establish the Infrastructure Bank for America to serve as a lender for infrastructure projects, both directly and through State and local governments, and for other purposes. Introduced in House 2017-10-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3977ih/xml/BILLS-115hr3977ih.xml 2017-10-06 Referred to the Subcommittee on Highways and Transit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.