S.936 - American Infrastructure Investment Fund Act of 2011112th Congress (2011-2012)
|Sponsor:||Sen. Rockefeller, John D., IV [D-WV] (Introduced 05/10/2011)|
|Committees:||Senate - Commerce, Science, and Transportation|
|Latest Action:||05/10/2011 Read twice and referred to the Committee on Commerce, Science, and Transportation. (All Actions)|
This bill has the status Introduced
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Summary: S.936 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (05/10/2011)
American Infrastructure Investment Fund Act of 2011 - Establishes the American Infrastructure Investment Fund in the Department of Transportation (DOT) to: (1) invest in infrastructure projects that increase or otherwise improve U.S. economic output, productivity, or competitive commercial advantage; (2) provide funding for projects that face significant funding barriers because of the need to combine resources across multiple jurisdictions or modes of transportation; and (3) improve the efficiency or throughput, the safety, and the environmental sustainability of a national or regional transportation network.
Requires the Fund to publish: (1) a detailed description of its strategy in an Investment Prospectus, and (2) its Operating Guidance for the Fund's management.
Requires the President to appoint the Fund's Executive Director, by and with the advice and consent of the Senate, as well as a Fund Advisory Committee.
Authorizes the Fund to provide direct loans and loan guarantees to eligible recipients for activities related to the planning, preparation, or design of an eligible project proposal.
Directs the Secretary of Transportation to establish: (1) a competitive national infrastructure investment grant program, and (2) an oversight program to monitor the effective and efficient use of funds authorized under this Act.
Sets forth the federal share of net project costs at 80%.