New Infrastructure Project Rules: Protecting Taxpayers and Subcontractors
This bill adds new requirements for large infrastructure projects funded by a federal program called TIFIA. It puts safeguards in place to help ensure that subcontractors get paid and taxpayer money is protected if the main company building the project faces financial trouble.
Key points
Requires financial security (like bonds) for projects using TIFIA federal loans.
Helps protect subcontractors who work on these projects.
Aims to safeguard taxpayer funds used for infrastructure development.
Applies to new contracts signed after the bill becomes law.
Status:
Expired
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