H.R.1851 - State Infrastructure Banks for Schools Act of 2001107th Congress (2001-2002)
|Sponsor:||Rep. Tauscher, Ellen O. [D-CA-10] (Introduced 05/15/2001)|
|Committees:||House - Education and the Workforce|
|Latest Action:||07/16/2001 Referred to the Subcommittee on Education Reform. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1851 — 107th Congress (2001-2002)All Bill Information (Except Text)
State Infrastructure Banks for Schools Act of 2001 - Authorizes the Secretary of the Treasury to enter into cooperative agreements with States for the establishment of State infrastructure banks and multistate infrastructure banks to make loans to: (1) local educational agencies for building or repairing elementary or secondary schools which provide free public education; and (2) public libraries for building or repairing library facilities.
Introduced in House (05/15/2001)
Grants consent of Congress to the States to enter into a cooperative agreement with the Secretary, as well as an interstate compact, to establish a multistate infrastructure bank.
Prescribes infrastructure bank requirements.
Emphasizes that: (1) any infrastructure bank loan shall be used to supplement, not supplant other Federal, State, and local funds; and (2) the contribution of Federal funds into such infrastructure banks shall not be construed as a Federal commitment, guarantee, or obligation to any third party.
Mandates review by the Secretary of the financial condition of each infrastructure bank.