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Code · BILL · 119th Congress · H.R. 1235 (Introduced in House) — To establish the Federal Infrastructure Bank to facilitate investment in, and the long-term financing of, economicall... · Sec. 4

Sec. 4. Establishment of the Federal Infrastructure Bank

108 words·~1 min read·/bill/119/hr/1235/ih/section-4

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The Formation Agent shall establish the Federal Infrastructure Bank as a Delaware corporation and the Bank shall be a wholly owned subsidiary of the Holding Company. The Comptroller of the Currency shall grant a national bank charter to the Bank. Within 5 years of the date of enactment of this Act, the Bank shall establish regional offices for the purpose of focusing on infrastructure projects in different areas of the United States. The Board of Directors of the Holding Company established under section 3 shall be the initial Board of Directors of the Bank. The earnings and reserves of the Bank are not Government funds or public funds.
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