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21st Century Infrastructure Bank Act
12/30/2022, 5:32 PM
Summary of Bill HR 3722
Bill 117 HR 3722, also known as the 21st Century Infrastructure Bank Act, is a piece of legislation introduced in the US Congress. The purpose of this bill is to establish a new infrastructure bank that would provide funding for a wide range of infrastructure projects across the country.
The infrastructure bank would be a government-owned entity that would offer loans and loan guarantees to both public and private entities for projects such as transportation, water and wastewater systems, energy, and broadband. The goal of the bank is to leverage private sector investment to help finance much-needed infrastructure improvements.
The bill outlines the structure and governance of the infrastructure bank, including the appointment of a board of directors and the establishment of an advisory council. It also sets out the criteria for selecting projects to receive funding, including their economic viability, environmental impact, and potential to create jobs. Proponents of the bill argue that it would help address the nation's crumbling infrastructure and create jobs in the process. However, critics have raised concerns about the potential for political influence in the selection of projects and the overall cost to taxpayers. Overall, the 21st Century Infrastructure Bank Act aims to modernize and improve the nation's infrastructure by providing a new source of funding for critical projects. Its success will depend on how effectively it is implemented and managed.
The infrastructure bank would be a government-owned entity that would offer loans and loan guarantees to both public and private entities for projects such as transportation, water and wastewater systems, energy, and broadband. The goal of the bank is to leverage private sector investment to help finance much-needed infrastructure improvements.
The bill outlines the structure and governance of the infrastructure bank, including the appointment of a board of directors and the establishment of an advisory council. It also sets out the criteria for selecting projects to receive funding, including their economic viability, environmental impact, and potential to create jobs. Proponents of the bill argue that it would help address the nation's crumbling infrastructure and create jobs in the process. However, critics have raised concerns about the potential for political influence in the selection of projects and the overall cost to taxpayers. Overall, the 21st Century Infrastructure Bank Act aims to modernize and improve the nation's infrastructure by providing a new source of funding for critical projects. Its success will depend on how effectively it is implemented and managed.
Congressional Summary of HR 3722
21st Century Infrastructure Bank Act
This bill establishes and provides funds for the 21st Century American Infrastructure Bank to support state, local, and tribal infrastructure projects relating to transportation, energy, water, communications, and educational facilities. The Government Accountability Office must evaluate the effectiveness of the bank's financial assistance.
Read the Full Bill
Current Status of Bill HR 3722
Bill HR 3722 is currently in the status of Bill Introduced since June 4, 2021. Bill HR 3722 was introduced during Congress 117 and was introduced to the House on June 4, 2021. Bill HR 3722's most recent activity was Referred to the Subcommittee on Water Resources and Environment. as of June 7, 2021
Bipartisan Support of Bill HR 3722
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 3722
Primary Policy Focus
Transportation and Public WorksAlternate Title(s) of Bill HR 3722
21st Century Infrastructure Bank Act
To establish the 21st Century American Infrastructure Bank, and for other purposes.
21st Century Infrastructure Bank Act
Comments
Sponsors and Cosponsors of HR 3722
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