H.R.3168 - National Infrastructure Development Act of 1996104th Congress (1995-1996)
|Sponsor:||Rep. DeLauro, Rosa L. [D-CT-3] (Introduced 03/27/1996)|
|Committees:||House - Transportation and Infrastructure; Banking and Financial Services; Ways and Means|
|Latest Action:||05/17/1996 Referred to the Subcommittee on Domestic and International Monetary Policy. (All Actions)|
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Summary: H.R.3168 — 104th Congress (1995-1996)All Bill Information (Except Text)
Introduced in House (03/27/1996)
National Infrastructure Development Act of 1996 - Establishes as a wholly owned Government corporation: (1) the National Infrastructure Development Corporation (NIDC), which shall make new sources of financing (including public benefit bonds) available for the development of infrastructure facilities; and (2) the National Infrastructure Insurance Corporation (NIIC), which shall be a subsidiary of NIDC issuing insurance, reinsurance and related undertakings with respect to obligations for development of such facilities. Requires NIDC and NIIC to conduct their respective businesses as self-supporting entities.
Directs the boards of directors of each to establish criteria for determining eligibility for financial assistance.
Sets forth provisions regarding: (1) initial targeting of ready-to-go projects; (2) development risk insurance; (3) discretion of NIDC and NIIC to provide assistance; (4) final decisions regarding providing assistance to be made by an independent investment committee; and (5) capitalization, organization, and management of NIDC and NIIC.
Requires the NIDC to prepare and revise as necessary a strategic plan for the transition of NIDC and all its subsidiaries to a government-sponsored enterprise, and for the sale or transfer to investors other than the Federal Government of NIDC's voting securities. Authorizes appropriations.