,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #gbca  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #ae1 #bjbj,mr4  
,web/] ( ,florida 7= himself1 ,mr4      
,meus]1 ,mr4 ,re$1 & ,mr4 ,la,malfa7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,transportation &      
,infra/ructure1 & 9 addition to !       
,committees on ,f9ancial ,s]vices1 &    
,ways & ,means1 = a p]iod to be         
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to e/abli% !       
,infra/ructure ,bank = ,am]ica z a      
corporation to s]ve z a l5d] = & inve/or
 9 infra/ructure projects1 & = o!r      
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,infra/ructure ,bank =     
,am]ica ,act ( #bjbj4  #b4 ,e/abli%m5t (
 ! ,infra/ructure ,bank ,hold+ ,company 
7a7 ,9 g5]al ,!re is e/abli%$ a         
corporation to be kn[n z !              
,infra/ructure ,bank ,hold+ ,company 79 
?is ,act ref]r$ to z ! ,hold+ ,company71

 :i* %all be ! p>5t company ( !         
,infra/ructure ,bank = ,am]ica e/abli%$ 
"u section #c4  7b7 ,bo>d ( directors ,!
 ,hold+ ,company %all h a ,bo>d (       
,directors1 :i* %all-- 7#a7 initially   
consi/ ( #g memb]s1 or su* o!r numb] z !
 =mation ag5t det]m9es appropriate2     
7#b7 be elect$ by ! %>ehold]s ( ! ,hold+
 ,company2  7#c7 )9 ! limitations ( law 
& regulation1 det]m9e ! g5]al policies t
 gov]n ! op]ations ( ! ,hold+ ,company1 
& h ! p[] to adopt1 am5d1 & repeal      
bylaws gov]n+ ! p]=mance ( ! p[]s &     
duties grant$ to or impos$ ^u ! ,hold+  
,company by law2 &  7#d7 select & effect
 ! appo9tm5t ( qualifi$ p]sons to fill !
 (fice ( ! ,*ief ,executive ,(fic] & su*
 o!r (fices z may be provid$ = 9 !      
bylaws ( ! ,hold+ ,company & !          
,infra/ructure ,bank = ,am]ica e/abli%$ 
"u section #c4  7c7 ,treatm5t (         
%>ehold]s ( ! =mation ag5t ,! =mation   
ag5t %all issue equity securities ( !   
,hold+ ,company to ea* %>ehold] ( !     
=mation ag5t1 9 an am\nt t ! =mation    

ag5t det]m9es has a value equal to !    
value ( equity securities ( ! =mation   
ag5t held by su* %>ehold] ^u !          
e/abli%m5t ( ! ,hold+ ,company4  7d7    
,e>n+s & res]ves n gov]nm5t funds ,!    
e>n+s & res]ves ( ! ,hold+ ,company %all
 be ! sole prop]ty ( ! ,hold+ ,company &
 may n be con/ru$ to be ,gov]nm5t funds1
 public funds1 or appropriat$ money4    
#c4 ,e/abli%m5t ( ! ,infra/ructure ,bank
 = ,am]ica  7a7 ,9 g5]al ,! =mation ag5t
 %all e/abli% a corporation to be kn[n z
 ! ,infra/ructure ,bank = ,am]ica 79 ?is
 ,act ref]r$ to z ! ,bank74 ,! ,bank    
%all-- 7#a7 ma9ta9 its pr9ciple (fice 9 
,new ,york ,city or ! ,di/rict (        
,columbia2 &  7#b7 be regi/]$ z a       
,delaw>e corporation1 &1 = ! purposes ( 
jurisdiction & v5ue 9 civil actions1    
op]ate z a ,delaw>e corporation4  7b7   
,duties ( ! =mation ag5t ,at ! e>lie/   
practicable date aft] ! date ( !        
enactm5t ( ?is ,act1 ! =mation ag5t %all
 make & file ) ! ,secret>y ( ! ,treasury
 79 ?is ,act ref]r$ to z ! ,secret>y7 an

 organization c]tificate = ! ,bank 9    
accordance ) su* rules & regulations z !
 ,secret>y may prescribe4  7c7 ,regional
 (fices ,! ,bank %all e/abli% regional  
(fices = ! purpose ( focus+ on          
infra/ructure projects 9 diff]5t areas (
 ! ,unites ,/ates4  7d7 ,bo>d (         
directors ,! ,bo>d ( ,directors ( !     
,hold+ ,company e/abli%$ "u section     
#b7;b7 %all be ! initial ,bo>d (        
,directors ( ! ,bank4  #d4 ,functions ( 
! ,bank  7a7 ,9 g5]al ,! ,bank %all     
provide-- 7#a7 equity inve/m5ts1 direct 
loans1 indirect loans1 & loan gu>antees 
= ! con/ruction or ma9t5ance (          
rev5ue-produc+ infra/ructure projects 9 
! ,unit$ ,/ates ) suffici5t rev5ue      
s\rces & gu>antees to support ! int]e/ &
 pr9cipal paym5ts to ! ,bank2 &  7#b7   
direct & indirect loans & loan gu>antees
 to ,/ate & local gov]nm5ts & ,/ate     
infra/ructure banks = ! con/ruction or  
ma9t5ance ( infra/ructure projects4  7b7
 ,support = rural projects ,at lea/ #g  
p]c5t ( ! doll> am\nt ( loans1 equity   

inve/m5ts1 & loan gu>antees provid$ by !
 ,bank %all be ) respect to             
infra/ructure projects 9 rural areas4   
7c7 ,no comm]cial or inve/m5t bank+     
activities ,! ,bank %all n accept cu/om]
 deposits nor engage 9 f9ancial or      
inve/m5t bank+ activities su* z tru/    
managem5t or und]writ+ securities4  7d7 
,pl$ge & cr$it facilities  7#a7 ,pl$ge  
,! ,bank %all h ! au?ority to pl$ge its 
loans to ! disc\nt w9d[ ( ! ,bo>d (     
,gov]nors ( ! ,f$]al ,res]ve ,sy/em4    
7#b7 ,pur*ase ( obligations ,! ,secret>y
 may1 subject to am\nts provid$ 9       
advance by appropriation ,acts1 pur*ase 
obligations issu$ by ! ,bank 9 ! same   
mann] & "u ! same requirem5ts t !       
,secret>y pur*ases obligations "u       
section #cjf7;c7 ( ! ,f$]al ,home ,loan 
,mortgage ,corporation ,act 7#ab        
,u4,s4,c4 #adee7;c774  7e7 ,lev]age     
limitation ,! ,bank %all seek to ma9ta9 
risk-bas$ capital at no less ?an #aj    
p]c5t4  #e4 ,hold+ ,company securities  
7a7 ,equity securities  7#a7 ,9 g5]al ,!

 ,hold+ ,company %all issue su* equity  
securities z ! ,hold+ ,company det]m9es 
appropriate4  7#b7 ,divid5ds ,! ,hold+  
,company may make su* divid5d paym5ts on
 ! equity securities ( ! ,hold+ ,company
 z ! ,hold+ ,company det]m9es           
appropriate4  7#c7 ,initial issuance    
am\nt ,! ,hold+ ,company %all h ! goal (
 rais+ #a1jjj1jjj1jjj 9 ! initial       
issuance ( equity securities 9 a private
 placem5t & up to #ajj1jjj1jjj1jjj or m 
( equity securities 9 public (f]+s ov]  
"t1 ! purpose ( :i* is to fund ! ,bank4 
7#d7 ,re/riction on vot+ rights ,any    
hold] ( an equity security ( ! ,hold+   
,company t is a non-,u4,s4 individual or
 entity %all h no vot+ rights ) respect 
to su* equity security4  7b7 ,bonds     
7#a7 ,/&>d bonds ,! ,hold+ ,company may 
issue /&>d bonds ) maturities up to #cj 
ye>s or long]1 z ne$$4  7#b7 ,o!r bonds 
,! ,hold+ ,company may issue su* o!r    
bonds1 notes1 & m>ketable securities )  
maturities & int]e/ rates z ! ,hold+    
,company det]m9es appropriate4  7#c7    

,initial issuance am\nt ,! ,hold+       
,company %all h ! goal ( mak+ initial   
bond sales 9 a private placem5t 9 an    
aggregate am\nt ( #aj1jjj1jjj1jjj & 9   
public (f]+s 9 an am\nt (               
#a1jjj1jjj1jjj1jjj or m ov] "t4  7#d7   
,ov]sight & au?ority to pur*ase bonds   
7,a7 ,approval requir$ ,be=e issu+ any  
bonds1 ! ,hold+ ,company %all submit a  
proposal = su* bond issuance to !       
,secret>y1 & ! ,hold+ ,company may only 
issue su* bonds if ! ,secret>y approves 
! proposal4  7,b7 ,au?ority to pur*ase  
bonds  7i7 ,9 g5]al ,! ,secret>y & !    
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em may pur*ase bonds issu$ "u ?is   
subsection4  7ii7 ,limitation ,!        
aggregate am\nt ( out/&+ bonds pur*as$  
by ! ,secret>y "u ?is subp>agraph may n 
exce$ #e p]c5t ( ! total am\nt ( !      
out/&+ bonds ( ! ,hold+ ,company4  7#e7 
,lev]age limitation ,! ,hold+ ,company  
%all seek to ma9ta9 risk-bas$ capital at
 no less ?an #aj p]c5t4  7c7 ,inve/m5t  
limitation on ,non-,u4,s4 individuals & 

entities ,not)/&+ any o!r provision (   
law-- 7#a7 non-,u4,s4 individuals &     
entities may n hold m ?an #be p]c5t1 9 !
 aggregate1 ( ! equity securities &     
bonds ( ! ,hold+ ,company2 &  7#b7 no?+ 
9 ?is section %all prev5t non-,u4,s4    
individuals & entities t are %>ehold]s f
 receiv+ equity %>es & divid5d paym5ts4 
#f4 ,ov]sight & regulation  7a7 ,bo>d ( 
,gov]nors ( ! ,f$]al ,res]ve ,sy/em ,!  
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em %all h ov]sight & sup]visory     
au?ority ov] ! ,hold+ ,company & ! ,bank
 9 ord] to ensure ! safe & s\nd op]ation
 ( ! ,hold+ ,company & ! ,bank4  7b7    
,secret>y ( ! ,treasury ,! ,secret>y    
%all ov]see & sup]vise ! issuance (     
bonds by ! ,hold+ ,company & ! ,bank1 9 
ord] to ensure ! safe & s\nd f9anc+ ( ! 
,hold+ ,company & ! ,bank4  7c7         
,consultation ,! ,secret>y %all consult 
) ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve
 ,sy/em & may consult ) ! ,secret>y (   
,transportation & any o!r head ( ,f$]al 
ag5cy :5 c>ry+ out ! ,secret>y's duties 

"u ?is ,act4  #g4 ,infra/ructure        
,gu>antee ,fund  7a7 ,e/abli%m5t ,!     
,bank %all e/abli% an ,infra/ructure    
,gu>antee ,fund t %all be available =   
,/ate & local gov]nm5ts & o!r p]sons :o 
wi% to deposit funds to be us$ ) respect
 to specific loans or loan gu>antees    
made by ! ,bank 9 ! ev5t ( any          
non-paym5t by ! recipi5t ( su* loan or  
loan gu>antee4  7b7 ,return ( funds ,any
 funds describ$ "u subsection 7a7 t are 
rema9+ at ! "t su* loans or gu>ante$    
loans are repaid 9 full %all be return$ 
to ! ,/ate or local gov]nm5t or o!r     
p]son :o deposit$ ! funds4  #h4 ,hold+  
,company & ,bank exemption f taxation   
,effective = taxable ye>s end+ on or    
aft] ! date ( enactm5t ( ?is ,act1 !    
,hold+ ,company & ! ,bank1 includ+      
fran*ises1 capital1 res]ves1 surplus1   
advances1 & income ( ! ,hold+ ,company  
or ,bank %all be exempt f all taxation  
impos$ by ! ,unit$ ,/ates1 by any       
t]ritory1 dep5d5cy1 or possession !re(1 
or by any ,/ate1 c\nty1 municipal1 or   

local tax+ au?ority1 except t any real  
prop]ty ( ! ,hold+ ,company & ! ,bank   
%all be subject to ,/ate1 t]ritorial1   
c\nty1 municipal1 or local taxation to !
 same ext5t accord+ to its value z o!r  
real prop]ty is tax$4  #i4              
,infra/ructure ,bank ,hold+ ,company    
cr$it  7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv
 ( sub*apt] ,a ( *apt] #a ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$-- 7#a7 by
 add+ at ! end ! foll[+ new section3    
#de,u4 ,infra/ructure ,bank ,hold+      
,company cr$it  7a7 ,9 g5]al ,= purposes
 ( section #ch1 9 ! case ( a taxpay] :o 
holds a qualifi$ ,hold+ ,company equity 
inve/m5t on a cr$it all[ance date ( su* 
inve/m5t :i* occurs dur+ ! taxable ye>1 
! ,infra/ructure ,bank ,hold+ ,company  
cr$it det]m9$ "u ?is section = su*      
taxable ye> is an am\nt equal to #aj    
p]c5t ( ! am\nt paid to ! ,hold+        
,company = su* inve/m5t at its orig9al  
issue4  7b7 ,cr$it all[ance date ,=     
purposes ( ?is section1 ! cr$it all[ance
 date ) respect to any qualifi$ ,hold+  

,company equity inve/m5t is-- 7#a7 !    
date on :i* su* inve/m5t is initially   
made2 &  7#b7 ea* ( ! #d anniv]s>y dates
 ( su* date !reaft]4  7c7 ,qualifi$     
,hold+ ,company equity inve/m5t ,=      
purposes ( ?is section1 ! t]m qualifi$  
,hold+ ,company equity inve/m5t means   
any equity inve/m5t orig9ally issu$ by !
 ,hold+ ,company to ! taxpay] "u section
 #e7;a77#a7 ( ! ,infra/ructure ,bank =  
,am]ica ,act ( #bjbj n lat] ?an #c ye>s 
aft] ! date ( ! enactm5t ( su* ,act4    
7d7 ,hold+ ,company ,= purposes ( ?is   
section1 ! t]m ,hold+ ,company means !  
,infra/ructure ,bank ,hold+ ,company    
e/abli%$ by ! ,infra/ructure ,bank =    
,am]ica ,act ( #bjbj4  7e7 ,basis       
r$uction ,! basis ( any qualifi$ ,hold+ 
,company equity inve/m5t %all be r$uc$  
by ! am\nt ( any cr$it det]m9$ "u ?is   
section ) respect to su* inve/m5t4  2 & 
7#b7 9 ! table ( cont5ts = su* subp>t1  
by add+ at ! end ! foll[+3  #de,u4      
,infra/ructure ,bank ,hold+ ,company    
cr$it4  4  7b7 ,con=m+ am5dm5ts  7#a7   

,section #ch7;b7 ( su* ,code is am5d$ by
 /rik+ plus at ! end ( p>agraph 7#cb71  
by /rik+ ! p]iod at ! end ( p>agraph    
7#cc7 & ins]t+ 1 plus1 & by add+ at !   
end ! foll[+ new p>agraph3  7#cd7 !     
,infra/ructure ,bank ,hold+ ,company    
cr$it det]m9$ "u section #de,u4  4  7#b7
 ,section #ajaf7;a7 ( su* ,code is am5d$
 by /rik+ & at ! end ( p>agraph 7#cg71  
by /rik+ ! p]iod at ! end ( p>agraph    
7#ch7 & ins]t+ 1 &1 & by add+ at ! end !
 foll[+ new p>agraph3  7#ci7 to ! ext5t 
provid$ 9 section #de,u7e74  4  7c7     
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s end+ 
aft] ! date ( ! enactm5t ( ?is ,act4    
#aj4 ,rule ( con/ruction ,no?+ 9 ?is    
,act may be con/ru$ z au?oriz+ ! ,f$]al 
,gov]nm5t to gu>antee ! assets ( ! ,bank
 or ,hold+ ,company4  #aa4 ,def9itions  
,= ! purposes ( ?is ,act3 7#a7 ,bank ,! 
t]m ,bank means ! ,infra/ructure ,bank =
 ,am]ica e/abli%$ "u section #c4  7#b7  
,=mation ag5t ,! t]m =mation ag5t means 
an entity select$ by ! ,secret>y ( !    

,treasury ) significant exp]i5ce 9      
infra/ructure & infra/ructure f9ance4   
7#c7 ,hold+ ,company ,! t]m ,hold+      
,company means ! ,infra/ructure ,bank   
,hold+ ,company e/abli%$ "u section #b4 
7#d7 ,rev5ue-produc+ infra/ructure      
project ,! t]m rev5ue-produc+           
infra/ructure project means an          
infra/ructure project t1 :5 complete1   
g5]ates rev5ue f us] fees or o!r s\rces4
  7#e7 ,risk-bas$ capital ,! t]m        
risk-bas$ capital %all h ! mean+ giv5 t 
t]m by ! ,bo>d ( ,gov]nors ( ! ,f$]al   
,res]ve ,sy/em4  7#f7 ,rural ,! t]m     
rural means a c\nty t is nei!r 9 a      
metropolitan /ati/ical area nor 9 a     
micropolitan /ati/ical area t is adjac5t
 to a metropolitan /ati/ical area1 z ^? 
t]ms are def9$ by ! ,(fice ( ,managem5t 
& ,budget & z appli$ "u curr5tly        
applicable ,urban ,influ5ce ,codes1     
e/abli%$ by ! ,economic ,rese>* ,s]vice 
( ! ,dep>tm5t ( ,agriculture4  7#g7     
,/ate ,! t]m ,/ate means ea* ( ! sev]al 
,/ates1 ! ,di/rict ( ,columbia1 ea*     

t]ritory or possession ( ! ,unit$       
,/ates1 & ea* f$]ally recogniz$ ,indian 
,tribe4  7#h7 ,/ate infra/ructure bank  
,! t]m ,/ate infra/ructure bank means a 
,/ate infra/ructure bank or multi-,/ate 
infra/ructure bank e/abli%$ pursuant    
to-- 7,a7 section #cej ( ! ,national    
,highway ,sy/em ,designation ,act (     
#aiie2  7,b7 section #aeaa7l7 ( !       
,transportation ,equity ,act = ! #ba/   
,c5tury2  7,c7 section #faj ( title #bc1
 ,unit$ ,/ates ,code2 or  7,d7 any ,/ate
 law z an ag5cy1 compon5t unit1 or o!r  
gov]nm5tal entity ( ! ,/ate4