S. 652: Building and Upgrading Infrastructure for Long-Term Development

112th Congress · introduced 2011-03-17 · Economics and Public Finance · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2011-03-17 · official record
Who proposed it: Sen. Kerry, John F. [D-MA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Building and Upgrading Infrastructure for Long-Term Development

Plain summary

Building and Upgrading Infrastructure for Long-Term Development - Establishes the American Infrastructure Financing Authority (AIFA) as a wholly-owned government corporation, headed by a Chief Executive Officer and managed by a Board of Directors, which shall provide direct loans and loan guarantees to facilitate transportation, water, or energy infrastructure projects. Requires infrastructure projects assisted under this Act to have costs that are reasonably anticipated to equal or exceed $100 million ($25 million for rural infrastructure projects). Sets forth special requirements for infrastructure projects in rural areas. Establishes an Office of Rural Assistance to provide technical assistance in the development and financing of rural infrastructure projects. Establishes an Office of Special Inspector General to conduct, supervise, and coordinate audits and investigations of the business activities of AIFA. Prohibits financial assistance from AIFA for any private project for which no public benefit is created. Sets forth terms for loans or loan guarantees for infrastructure projects and for the repayment of such loans. Requires an annual independent audit of AIFA finances. Requires the Chief Executive Officer of AIFA to: (1) establish fees with respect to loans and loan guarantees that are sufficient to cover AIFA's administrative costs, and (2) take actions to make AIFA a self-sustaining entity, with administrative and federal credit subsidy costs fully funded by fees and risk premiums on loans and loan guarantees. Amends the Internal Revenue Code to extend through 2012 the exemption from alternative minimum tax (AMT) for tax-exempt private activity bonds.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Building and Upgrading Infrastructure for Long-Term Development

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Kerry, John F. [D-MA] · 10 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mark R. Warner (D-VA), Richard Blumenthal (D-CT), Michael F. Bennet (D-CO), Christopher A. Coons (D-DE), Jeanne Shaheen (D-NH), Amy Klobuchar (D-MN)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bond: A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Exemption: A rule that removes certain people, property or activities from a tax or requirement.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s652.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s652 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112