Sec. 3. Definitions
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For purposes of this Act, the following definitions apply unless otherwise specified in this Act: The term Bank means the National Infrastructure Bank established under section 4(a). The term blended financing means financing provided through any combination of loans or bond financing, in cooperation with private lenders or State revolving funds, that is integrated into a single agreement with a single set of financial terms. The term Board means the National Infrastructure Bank Board.
The terms Bond means any bond issued in accordance with this Act if— the proceeds from the sale of the bond are to be used for expenditures incurred after the date of issuance with respect to any infrastructure project or other purpose, subject to such rules as the Bank may provide; the bond is issued in registered form; the bond has such terms, and carries interest in such an amount, as determined by the Bank; and payments of interest and principal with respect to the bond is the obligation of the Bank, and is backed by the full faith and credit of the United States.
The term chief asset and liability management officer means the chief individual responsible for coordinating the management of assets and liabilities of the Bank. The terms chief compliance officer and CCO mean the chief individual responsible for overseeing and managing the compliance and regulatory affairs of the Bank. The terms chief executive officer and CEO mean the individual serving as the executive director of the Bank. The terms chief financial officer and CFO mean the chief individual responsible for managing the financial risks, planning, and reporting of the Bank.
The term chief loan origination officer means the chief individual responsible for managing the processing of new loans provided by the Bank. The terms chief operations officer and COO mean the chief individual responsible for the retail operations of the Bank and its branches, including its administrative, human resource, and information technology systems. The terms chief risk officer and CRO mean the chief individual responsible for managing operational and compliance-related risks of the Bank.
The term chief treasury officer means the chief individual responsible for managing the Bank’s treasury operations. The term community development infrastructure project means any project for the development of affordable housing, schools, public parks and recreation, libraries, or public facilities that train workers and build labor skills. The term connectivity means the linkages in transportation, energy, communications, and community development infrastructure, as well as manufacturing and data centers, that tie geographic areas together into economic units, including networks of commuter routes, railways, shipping lanes, and internet cables, and are best expressed in map form.
The term cost benefit analysis means the comparison of the stream of costs for a potential project over its useful lifetime, to its public benefits over that time, with cost and benefit flows expressed on a common basis in terms of net present value. The terms development and develop mean, with respect to an infrastructure project, any— preconstruction planning, feasibility review for stand-alone projects or for bundled projects, permitting, design work, life-cycle maintenance planning, and other preconstruction activities; and construction, reconstruction, rehabilitation, replacement, or expansion.
The term direct loan has the meaning given the term in section 502 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a ). The term disadvantaged community means a county, city, or partial census tract area, with any of the following characteristics: A median household income below 80 percent of the State nonmetropolitan median household income. Persistent rural poverty, in which 20 percent or more of the population has been living below the poverty line for the last 30 years.
The term energy infrastructure project means any project for energy transmission and distribution, energy generation as needed, energy efficiency enhancement for buildings, and energy storage. The term entity means a State, municipality, or other governmental agency (including a political subdivision or any other instrumentality of a State or a revolving fund), publicly owned utility, public authority or corporation, partnership (including a public-private partnership), joint venture, or trust.
The term environmental infrastructure project means any project for the establishment, deferred maintenance, or enhancement, including security enhancement, of any drinking water and wastewater treatment facility, storm water management system, flood gate, dam, levee, dredging, wetland restoration or other open space conservation, infill development, solid waste disposal facility, hazardous waste facility, or industrial site cleanup or remediation project. The term general counsel means the individual who serves as the chief lawyer for the Bank.
The term greenhouse gases means any man-made gas designated as a greenhouse gas by the Administrator of the Environmental Protection Agency. The term infrastructure project means any transportation, energy, environmental, telecommunications, community development, or other infrastructure project for which a development plan is presented to the Bank for financing. It shall exclude military infrastructure. The term loan guarantee has the same meaning as in section 502 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a ).
The term productivity means the improved efficiency in the economy associated with investments in public and private infrastructure. It is calculated as the change in the value of total production, minus the change in the value of inputs going into production. The term public benefit means the clear and measurable benefit to society resulting from the public’s use of the infrastructure with respect to which a project is carried out, or the improvement such infrastructure provides in— economic growth and productivity; air and water quality; energy savings; high-wage jobs; poverty reduction; or increased Federal, State, and local revenues.
The term public-private partnership means any entity— which is undertaking the development of all or part of an infrastructure project, which will have a public benefit, pursuant to requirements established in one or more contracts between the entity and a State or an instrumentality of a State; or the activities of which, with respect to such an infrastructure project, are subject to regulation by a State or any instrumentality of a State; and which owns, leases, or operates, or will own, lease, or operate, the project in whole or in part, and at least one of the participants in the entity is a nongovernmental entity.
The term revolving fund means a fund or program established by a State or a political subdivision or other instrumentality of a State, the principal activity of which is to make loans, commitments, or other financial accommodation available for the development of one or more categories of infrastructure projects. The term Secretary means the Secretary of the Treasury. The term smart grid means a system that provides for any of the smart grid functions set forth in section 1306(d) of the Energy Independence and Security Act of 2007 ( 42 U.S.C. 17386(d) ).
The term State means any of the several States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Virgin Islands, the Commonwealth of Northern Mariana Islands, and any other territory of the United States. The term telecommunications infrastructure project means any project involving infrastructure required to provide communications by wire, fiber optic cable, or radio, including broadband, or to enhance security for such infrastructure. The term transportation infrastructure project means any project for the construction, deferred maintenance, or enhancement, including security enhancement, of highways, roads, bridges, transit and intermodal systems, inland waterways, commercial ports, airports, high speed rail, and freight rail systems.
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