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Code · BILL · 119th Congress · H.R. 5356 (Introduced in House) — To facilitate efficient investments and financing of infrastructure projects and new job creation through the establi... · Sec. 208

Sec. 208. Executive Committee

668 words·~3 min read·/bill/119/hr/5356/ih/section-208·

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The Board shall establish an Executive Committee consisting of 9 members, including— the chief executive officer, who shall serve as the head of the Executive Committee; the chief risk officer; the chief operations officer; the chief loan origination officer; the chief compliance officer; the chief financial officer; the chief treasury officer; the chief asset and liability management officer; and the general counsel. A majority of the Board shall have the authority— to appoint the members of the Executive Committee; and to define the duties of each member of the Executive Committee in accordance with this Act, the bylaws of the Bank, and requirements of the Board.
Each member of the Executive Committee and all loan origination officers of the Bank shall have extensive experience and expertise in retail banking, and in 1 or more of the following: Transportation infrastructure. Environmental infrastructure. Energy infrastructure. Telecommunications infrastructure. Public housing and urban or rural development. Economic development. Workforce development. Public finance. The chief executive officer shall have responsibility for the development and implementation of the strategy of the Bank, including— the development and submission to the Board of the annual business plans and budget; the development and submission to the Board of a long-term strategic infrastructure development plan that is consistent with regional plans presented to the Bank by regional economic accelerator planning groups established under section 204; and the development, revision, and submission to the Board of other internal policies of the Bank.
In order to carry out the purposes of the Bank, the Executive Committee shall— establish and submit to the Board for approval disclosure and application procedures for entities submitting applications for infrastructure projects for assistance under this Act; establish and submit to the Board for approval standardized terms and conditions, fee schedules, or legal requirements of a contract or program to carry out this Act; establish and submit to the Board for approval guidelines for the selection and approval of infrastructure projects and specific criteria for determining eligibility for project selection, subject to the general criteria provided in section 205; accept for consideration project proposals from entities for the development of infrastructure projects in accordance with this Act; provide recommendations to the Board and place project proposals accepted by the Executive Committee on a list for consideration for financial assistance from the Board; and establish a plan, and build capacity within the Bank, to provide technical assistance to State and local governments, regional economic accelerator planning groups established under section 204, joint ventures, regional economic accelerator agencies, and other borrowing entities on— the borrowing procedures and selection criteria of the Bank; the development of a pipeline of projects suitable for financing that meet the selection criteria developed by the Bank; the development of specialized institutional structures and cross-regional planning to help in the planning of complex projects; best practices for design, construction, and management, including those identified in global infrastructure databases; contract evaluation methods, including procurement value-for-money options; and institution strengthening relating to the management of projects and work contracts, including through performance-based project delivery.
A vacancy on the Executive Committee shall be filled in the manner in which the original appointment was made. The compensation of a member of the Executive Committee shall be determined by the Board. A member of the Executive Committee may be removed at the discretion of a majority of the Board. A member of the Executive Committee shall serve a term of 6 years and may be reappointed in accordance with this section. During the period described in paragraph (2), a member of the Executive Committee may not— hold any other public office; have any interest in an infrastructure project considered by the Board; or have any interest in an entity seeking financial assistance from the Bank for any infrastructure project.
The period referred to in paragraph
(1)is the period— beginning on the date on which the member of the Executive Committee is appointed; and ending on the date on which the member ceases to serve on the Executive Committee.
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