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Code · BILL · 116th Congress · H.R. 7231 (Introduced in House) — To establish the Infrastructure Bank for America as a corporation to serve as a lender for and investor in infrastruc... · Sec. 4

Sec. 4. Functions of the Bank

204 words·~1 min read·/bill/116/hr/7231/ih/section-4

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The Bank shall provide— equity investments, direct loans, indirect loans, and loan guarantees for the construction or maintenance of revenue-producing infrastructure projects in the United States with sufficient revenue sources and guarantees to support the interest and principal payments to the Bank; and direct and indirect loans and loan guarantees to State and local governments and State infrastructure banks for the construction or maintenance of infrastructure projects. At least 7 percent of the dollar amount of loans, equity investments, and loan guarantees provided by the Bank shall be with respect to infrastructure projects in rural areas.
The Bank shall not accept customer deposits nor engage in financial or investment banking activities such as trust management or underwriting securities. The Bank shall have the authority to pledge its loans to the discount window of the Board of Governors of the Federal Reserve System. The Secretary may, subject to amounts provided in advance by appropriation Acts, purchase obligations issued by the Bank in the same manner and under the same requirements that the Secretary purchases obligations under section 306(c) of the Federal Home Loan Mortgage Corporation Act ( 12 U.S.C. 1455(c) ).
The Bank shall seek to maintain risk-based capital at no less than 10 percent.
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Sec. 4
Functions of the Bank
U.S.C.§ 1455
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