PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S2954-2955)
Congressional Research Service
Version 00 · Introduced in Senate · Apr 18, 2002
Investing for Tomorrow's Schools Act of 2002 - Authorizes the Secretary of Education to enter into cooperative agreements with States to establish State infrastructure banks and multistate infrastructure banks to make loans to: (1) local educational agencies for building or repairing elementary or secondary public schools; and (2) public libraries for building or repairing library facilities.Grants consent of Congress to 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. Requires infrastructure bank loans to be used to supplement, not supplant, other Federal, State, and local funds. Prohibits construing Federal contributions to such infrastructure banks as a Federal commitment, guarantee, or obligation to any third party. Directs the Secretary to review the financial condition of each infrastructure bank.
People & committees
Sen. Harkin, Tom [D-IA] · D–IA
Legislative record
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Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S2954-2955)
Sponsor introductory remarks on measure. (CR S2954)
Introduced in Senate
Primary sources
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Source last updated: Feb 10, 2026. Consult Congress.gov for the current record.
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