US Congress Senate Bill 652 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 9-2)
Status: Introduced on March 17 2011 - 25% progression, died in committee
Action: 2011-03-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Building and Upgrading Infrastructure for Long-Term Development - Establishes the American Infrastructure Financing Authority (AIFA) as a wholly-owned government corporation, headed by a Chief Executive Officer and managed by a Board of Directors, which shall provide direct loans and loan guarantees to facilitate transportation, water, or energy infrastructure projects. Requires infrastructure projects assisted under this Act to have costs that are reasonably anticipated to equal or exceed $100 million ($25 million for rural infrastructure projects). Sets forth special requirements for infrastructure projects in rural areas. Establishes an Office of Rural Assistance to provide technical assistance in the development and financing of rural infrastructure projects. Establishes an Office of Special Inspector General to conduct, supervise, and coordinate audits and investigations of the business activities of AIFA. Prohibits financial assistance from AIFA for any private project for which no public benefit is created. Sets forth terms for loans or loan guarantees for infrastructure projects and for the repayment of such loans. Requires an annual independent audit of AIFA finances. Requires the Chief Executive Officer of AIFA to: (1) establish fees with respect to loans and loan guarantees that are sufficient to cover AIFA's administrative costs, and (2) take actions to make AIFA a self-sustaining entity, with administrative and federal credit subsidy costs fully funded by fees and risk premiums on loans and loan guarantees. Amends the Internal Revenue Code to extend through 2012 the exemption from alternative minimum tax (AMT) for tax-exempt private activity bonds.

Building and Upgrading Infrastructure for Long-Term Development

Sen. John Kerry [D-MA]	Sen. Michael Bennet [D-CO]	Sen. Richard Blumenthal [D-CT]	Sen. Christopher Coons [D-DE]
Sen. Lindsey Graham [R-SC]	Sen. Kay Hutchison [R-TX]	Sen. Amy Klobuchar [D-MN]	Sen. Barbara Mikulski [D-MD]
Sen. Bill Nelson [D-FL]	Sen. Jeanne Shaheen [D-NH]	Sen. Mark Warner [D-VA]

Date	Chamber	Action
2011-03-17	Senate	Read twice and referred to the Committee on Finance.

HB12 (Related) 2011-10-21 - Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
SB1549 (Related) 2011-09-14 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 165.
SB1660 (Related) 2011-10-11 - Motion by Senator Reid to reconsider the vote by which cloture was not invoked on the motion to proceed to the bill made in Senate. (consideration: CR S6383)
SB1769 (Related) 2011-11-03 - Motion to proceed to consideration of measure under the order of 11/2/2011, not having achieved 60 votes in the affirmative, was rejected in Senate by Yea-Nay Vote. 51 - 49. Record Vote Number: 195. (consideration: CR S7113)

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/652/all-info
Text	https://www.congress.gov/112/bills/s652/BILLS-112s652is.pdf