Bill Summary & Status for the 106th Congress

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H.R.115
Sponsor: Rep DeLauro, Rosa L.(introduced 1/6/1999)
Latest Major Action: 2/12/1999 Referred to House subcommittee. Status: Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
Title: To facilitate efficient investments and financing of infrastructure projects and new job creation through the establishment of a National Infrastructure Development Corporation, and for other purposes.
Jump to: Titles, Status, Committees, Related Bill Details, Amendments, Cosponsors, Summary
TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions)
1/6/1999:
Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Banking and 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.
1/6/1999:
Referred to House Transportation and Infrastructure
1/19/1999:
Referred to the Subcommittee on Ground Transportation.
1/19/1999:
Referred to the Subcommittee on Water Resources and Environment.
1/6/1999:
Referred to House Banking and Financial Services
2/12/1999:
Referred to the Subcommittee on Housing and Community Opportunity.
2/12/1999:
Referred to the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises.
1/6/1999:
Referred to House Ways and Means
COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***

COSPONSORS(7), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Rep Bonior, David E. - 1/6/1999 Rep Borski, Robert A. - 1/6/1999
Rep Frost, Martin - 1/6/1999 Rep Gephardt, Richard A. - 1/6/1999
Rep Pelosi, Nancy - 1/6/1999 Rep Thompson, Bennie G. - 1/6/1999
Rep Wise, Robert E., Jr. - 1/6/1999

SUMMARY AS OF:
1/6/1999--Introduced.

National Infrastructure Development Act of 1999 - Establishes as a wholly owned Government corporation: (1) the National Infrastructure Development Corporation (NIDC), which shall make new sources of financing available (including public benefit bonds) for the development of infrastructure facilities; and (2) the National Infrastructure Insurance Corporation (NIIC), which shall be a subsidiary of NIDC issuing insurance, reinsurance and related undertakings with respect to obligations for development of such facilities. Requires NIDC and NIIC to conduct their respective businesses as self-supporting entities.

Directs the boards of directors of each to establish criteria for determining eligibility for financial assistance.

Provides for: (1) initial targeting of ready-to-go projects; (2) development risk insurance; (3) the discretion of NIDC and NIIC to provide assistance; (4) final decisions on providing assistance to be made by an independent investment committee; and (5) capitalization, organization, and management of NIDC and NIIC.

Requires the NIDC to prepare and revise as necessary a strategic plan for the transition of NIDC and all its subsidiaries to a Government-sponsored enterprise, and for the sale or transfer to investors other than the Federal Government of NIDC's voting securities. Authorizes appropriations.