State Infrastructure Banks for Schools Act of 2001
Referred to the Subcommittee on Education Reform.
Congressional Research Service
Official summary
Version 00 · Introduced in House · May 15, 2001
State Infrastructure Banks for Schools Act of 2001 - Authorizes the Secretary of the Treasury to enter into cooperative agreements with States for the establishment of State infrastructure banks and multistate infrastructure banks to make loans to: (1) local educational agencies for building or repairing elementary or secondary schools which provide free public education; and (2) public libraries for building or repairing library facilities.Grants consent of Congress to the States to enter into a cooperative agreement with the Secretary, as well as an interstate compact, to establish a multistate infrastructure bank.Prescribes infrastructure bank requirements.Emphasizes that: (1) any infrastructure bank loan shall be used to supplement, not supplant other Federal, State, and local funds; and (2) the contribution of Federal funds into such infrastructure banks shall not be construed as a Federal commitment, guarantee, or obligation to any third party.Mandates review by the Secretary of the financial condition of each infrastructure bank.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Mar 23, 2026. Consult Congress.gov for the current record.
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