BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Recommended Position on Federal Legislation: HR 547 (DeLauro) - National Infrastructure Development Bank Act of 2017; and HR 434 (Denham) - New WATER Act.
End
RECOMMENDATION:
Recommendation
A. Adopt a position of "Support if Amended" on: HR 547 (DeLauro) - National Infrastructure Development Bank Act of 2017; and
B. Adopt a position of "Support" on: HR 434 (Denham) - New WATER Act;
Body
SUMMARY:
A. HR 547 (DeLauro) - National Infrastructure Development Bank Act of 2017
Recommendation: Support if Amended
Priority Recommendation: 2
Bill would establish the National Infrastructure Development Bank as a wholly owned government corporation.
The legislation authorizes funding of transportation, environmental, energy, and telecommunications infrastructure projects. Requires the Bank's Board of Directors to establish criteria for determining project eligibility for financial assistance under this Act. In general, the Bank would conduct an analysis that takes into account the economic, environmental, social benefits, and costs of each project under consideration for financial assistance under this Act, prioritizing projects that contribute to economic growth, lead to job creation, and are of regional or national significance. The legislation also would provide for additional consideration for specific types of infrastructure. For example, for environmental infrastructure, the criteria should consider job creation, public health benefits, pollution reduction, reductions in greenhouse gas, increased coastal and inland flood mitigation and protection, and reduction in risk of structural failure over the service life of the project.
The Bank would be capitalized with $5 billion in each of FY 2014 through FY 2018. As this is an authorizations bill, this program would be funded through the appropriations process once authorized.
Similar bills were introduced in previous sessions of Congress by Representative DeLau...
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