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New Infrastructure Development Bank: Investments, Jobs, and Better Public Services

This act establishes a new federal bank to finance large-scale infrastructure projects nationwide. Its goal is to accelerate the construction of roads, bridges, water systems, energy grids, and telecommunications networks, leading to new job creation and improved access to essential services for citizens. The bank will provide direct loans and loan guarantees, supporting both public and public-private partnership projects.
Key points
Establishment of the National Infrastructure Development Bank as an independent federal entity.
The Bank will finance transportation (roads, bridges, rail), environmental (water, wastewater, flood control), energy (grids, efficiency), and telecommunications (broadband) projects.
Priority will be given to projects that create jobs, foster economic growth, and have regional or national significance.
Requirement for the use of American-made iron, steel, and manufactured goods in financed projects, with certain exceptions.
Projects must demonstrate a public benefit and cannot be solely for private use.
All projects will be subject to rigorous audits and reporting, with information publicly accessible.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_10525
Sponsor: Rep. DeLauro, Rosa L. [D-CT-3]
Process start date: 2024-12-19
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

National Infrastructure Development Bank Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10525.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-19.

What are the main provisions?

Key points include:

  • Establishment of the National Infrastructure Development Bank as an independent federal entity.
  • The Bank will finance transportation (roads, bridges, rail), environmental (water, wastewater, flood control), energy (grids, efficiency), and telecommunications (broadband) projects.
  • Priority will be given to projects that create jobs, foster economic growth, and have regional or national significance.
  • Requirement for the use of American-made iron, steel, and manufactured goods in financed projects, with certain exceptions.
  • Projects must demonstrate a public benefit and cannot be solely for private use.
  • All projects will be subject to rigorous audits and reporting, with information publicly accessible.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. DeLauro, Rosa L. [D-CT-3].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Public Investments Transport Environment