United States 116th Congress Status: Died 1 D cosponsors

HR 6422 — National Infrastructure Bank Act of 2020

Last action — Referred to the Subcommittee on National Parks, Forests, and Public Lands.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates the National Infrastructure Bank to facilitate the long-term financing of infrastructure projects. Specifically, the bank must provide loans to public and private entities for financing, developing, or operating eligible infrastructure projects. An eligible project must have a public sponsor as well as local, regional, or national significance. The bill also provides for various criteria and preferences for purposes of deciding whether to provide a loan, such as whether a project promotes job creation or provides environmental health benefits. Projects that receive such a loan must (1) pay all laborers and mechanics locally prevailing wages, and (2) use only certain U.S.-produced construction materials unless a waiver is secured from the bank. The bank shall issue stock and may also issue bonds and maintain a discount line of credit with the Federal Reserve System. The bank must apply for a national bank charter as soon as is practicable and, once chartered, accept deposits from individuals, corporations, and public entities and pay interest on those deposits. The bill also imposes requirements related to the bank's operation, such as minimum reserve requirements and requirements for handling loan losses. In addition, the bank must facilitate the organization of at least seven regional economic accelerator planning groups to, among other things, identify infrastructure needs and priorities. Within five years, the Government Accountability Office must report on the bank's activities, including the impact of the funded infrastructure projects.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 6422 on the official United States source →

Action History

  1. Referred to the Subcommittee on National Parks, Forests, and Public Lands.

  2. Referred to the Subcommittee on Water, Oceans, and Wildlife.

  3. Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

  4. Referred to the Subcommittee on Water Resources and Environment.

  5. Referred to the Subcommittee on Highways and Transit.

  6. Referred to the Subcommittee on Aviation.

  7. Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.

  8. Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.

  9. Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.

  10. Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.

  11. Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.

  12. Referred to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Financial Services, Education and Labor, Natural Resources, and the Budget, 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.

  13. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

Transportation and public works Accounting and auditing Advisory bodies Air quality Alternative and renewable resources Aviation and airports Bank accounts, deposits, capital Banking and financial institutions regulation Budget deficits and national debt Building construction Civil actions and liability Congressional operations and organization Congressional oversight Congressional-executive branch relations Contracts and agency Corporate finance and management Credit and credit markets Debt collection Economic development Educational facilities and institutions Electric power generation and transmission Employee benefits and pensions Employee hiring Employment discrimination and employee rights Energy storage, supplies, demand Federal Reserve System Financial services and investments Fires Government corporations and government-sponsored enterprises Government employee pay, benefits, personnel management Government information and archives Government lending and loan guarantees Government studies and investigations House of Representatives Housing and community development funding Housing supply and affordability Infrastructure development Interest, dividends, interest rates Intergovernmental relations Land use and conservation Members of Congress Natural disasters Parks, recreation areas, trails Public contracts and procurement Public transit Public-private cooperation Railroads Securities Senate State and local finance Telephone and wireless communication Transportation programs funding Unemployment User charges and fees Water quality Water use and supply
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 6422 do?
Creates the National Infrastructure Bank to facilitate the long-term financing of infrastructure projects. Specifically, the bank must provide loans to public and private entities for financing, developing, or operating eligible infrastructure projects. An eligible project must have a public sponsor as well as local, regional, or national significance. The bill also provides for various criteria and preferences for purposes of deciding whether to provide a loan, such as whether a project promotes job creation or provides environmental health benefits. Projects that receive such a loan must (1) pay all laborers and mechanics locally prevailing wages, and (2) use only certain U.S.-produced construction materials unless a waiver is secured from the bank. The bank shall issue stock and may also issue bonds and maintain a discount line of credit with the Federal Reserve System. The bank must apply for a national bank charter as soon as is practicable and, once chartered, accept deposits from individuals, corporations, and public entities and pay interest on those deposits. The bill also imposes requirements related to the bank's operation, such as minimum reserve requirements and requirements for handling loan losses. In addition, the bank must facilitate the organization of at least seven regional economic accelerator planning groups to, among other things, identify infrastructure needs and priorities. Within five years, the Government Accountability Office must report on the bank's activities, including the impact of the funded infrastructure projects.
Who sponsors HR 6422?
HR 6422 is sponsored by Danny Davis (D).
What is the current status of HR 6422?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 6422?
Track HR 6422 free on One Click Politics — get push/email alerts when it moves.

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