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Code · BILL · 114th Congress · H.R. 3337 (Introduced in House) — To facilitate efficient investments and financing of infrastructure projects and new job creation through the establi... · Sec. 11

Sec. 11. Eligibility criteria for assistance from Bank

1,046 words·~5 min read·/bill/114/hr/3337/ih/section-11·

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Any entity proposing a project for which the use or purpose is private and without public benefit shall not be eligible for financial assistance from the Bank under this Act. No financial assistance shall be available from the Bank unless the entity for such assistance has demonstrated to the satisfaction of the Board that the project for which such assistance is being sought meets the requirements of this Act. Consistent with the requirements of subsections
(c)and (d), the Board shall approve— criteria for determining eligibility for financial assistance established by the Executive Committee under this Act; revisions to criteria for determining eligibility for financial assistance established by the Executive Committee under this Act; the weight given to factors to be taken into account established by the Executive Committee; disclosure and application procedures to be followed by entities to nominate projects for assistance established by the Executive Committee under this Act; and such other criteria as the Board may consider to be appropriate for the purposes of carrying out this Act. The Executive Committee shall conduct an analysis that takes into account the economic, environmental, and social benefits, and costs of each project under consideration for financial assistance under this Act, prioritizing projects that contribute to economic growth, lead to job creation, and are of regional or national significance. The criteria established pursuant to paragraph (1)(A) shall provide for the consideration of the following factors in considering eligibility for financial assistance under this Act: The means by which development of the infrastructure project under consideration is being financed, including— the terms and conditions and financial structure of the proposed financing; the credit worthiness and standing of the project sponsors, providers of equity, and cofinanciers; the financial assumptions and projections on which the project is based; and the extent to which the infrastructure project maximizes investment from other sources. The likelihood that the provision of assistance by the Bank will cause such development to proceed more promptly and with lower costs for financing than would be the case without such assistance. The extent to which the provision of assistance by the Bank maximizes the level of private investment in the infrastructure project while providing a public benefit. Any financial assistance for an infrastructure project shall be repayable, in whole or in part, from dedicated revenue sources that also secure the infrastructure project obligations. The amount of financial assistance under this Act shall not exceed the lesser of 50 percent of the reasonably anticipated eligible infrastructure project costs. In developing proposed infrastructure project criteria and conducting reviews of infrastructure project criteria for the Board, the Executive Committee shall seek input from the public including views related to— the weight given to different factors to be taken into account; measuring whether projects are meeting approved criteria; and any other input considered by the Executive Committee and the public for the purposes of carrying out this Act. For any transportation infrastructure project, the Board shall consider the following: Job creation, including workforce development for women and minorities, responsible employment practices, and targeted job training and employment opportunities for low income workers. Reduction in greenhouse gases. Reduction in surface and air traffic congestion. Use of smart tolling, such as vehicle miles traveled and congestion pricing, for highway, road, and bridge projects. Increased access to transportation options. Increased safety of transportation systems for motorized and non-motorized users. Public health benefits, including the removal of lead coatings or other hazardous chemicals and materials. Reduction in risk of structural failure over the service life of the project. For any environmental infrastructure project, the Board shall consider the following: Job creation, including workforce development for women and minorities, responsible employment practices, and targeted job training and employment opportunities for low income workers. Public health benefits, including the removal of lead coatings or other hazardous materials. Pollution reductions. Reductions in greenhouse gas. Increased coastal and inland flood mitigation and protection. Reduction in risk of structural failure over the service life of the project. For any energy infrastructure project, the Board shall consider the following: Job creation, including workforce development for women and minorities, responsible employment practices, and targeted job training and employment opportunities for low income workers. Reduction in greenhouse gas. Expanded use of renewable energy. Development of a smart grid. Energy efficient building, housing, and school modernization, including renewable energy designated retrofits. In any case in which the project is also a public housing project— improvement of the physical shape and layout; environmental improvement; and mobility improvements for residents. Public health benefits including the removal of lead coatings or other hazardous chemicals and materials. Reduction in risk of structural failure over the service life of the project. For any telecommunications project, the Board shall consider the following: Job creation, including workforce development for women and minorities, responsible employment practices, and targeted job training and employment opportunities for low income workers. The extent to which assistance expands or improves broadband and wireless services in rural and disadvantaged communities. Consideration of a project under this section by the Executive Committee and the Board shall be conducted with personnel on detail to the Bank from relevant Federal agencies among individuals who are familiar with and experienced in the selection criteria for competitive infrastructure projects. A fee may be charged for the review of any project proposal in such amount as may be considered appropriate by the Executive Committee approved by the Board to cover the cost of such review. Consistent with other provisions of this Act, any determination of the Board to provide assistance to any infrastructure project, and the manner in which such assistance is provided, including the terms, conditions, fees, and charges shall be at the sole discretion of the Board. The provision of assistance by the Board in accordance with this Act shall not be deemed to relieve any recipient of assistance or the related infrastructure project of any obligation to obtain required State and local permits and approvals. An entity receiving assistance from the Board shall make annual reports to the Board on the use of any such assistance, compliance with the criteria set forth in this section, and a disclosure of all entities with a development, ownership, or operational interest in a infrastructure project assisted or proposed to be assisted under this Act.
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