Draft legislation in circulation on Capitol Hill envisions a 'National Infrastructure Reinvestment Corporation' that would spur $48bn of infrastructure investment by providing grants, loans and tax incentives to select projects sponsored by public, private and non-profit entities.

Cezary Podkul

Plans for a national infrastructure bank being considered by the Obama Administration would establish an independent organisation that funds public-, private- and nonprofit-sector infrastructure projects based on an objective ranking of the social benefits they provide, according to draft legislation obtained by InfrastructureInvestor.

The draft legislation for the National Infrastructure Reinvestment Corporation (NIRC), commonly referred to as an "infrastructure bank", would authorise an experimental two-year program for an organisation wholly owned by but independent from the US government that would provide grants, loans and tax incentives to invest in US infrastructure.

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Posted by boyang at February 18, 2009 7:36 PM