State Infrastructure Bank Pilot Program

State Infrastructure Bank Pilot Program
Current Law	Administration Proposal H.R. 2088 & S. 1072 as Modified SAFETEA of 2003	House H.R. 3 as Passed House TEA-LU	Senate H.R. 3 as Passed Senate SAFETEA of 2005
Section 1511	Section 1303	Section 1602	Section 1306
Establishes a SIB pilot program for four States to set up infrastructure revolving funds eligible to be capitalized with Federal transportation funds.	Authorizes a new SIB pilot program for transportation infrastructure projects limited to no more than five States.	Authorizes permanent SIB program, making it available to all interested States and territories. [1602(a)]	Continues SIB program of TEA-21, except that Missouri, Rhode Island, Texas and any other State or territory may seek an agreement to establish a SIB.
The four participating States may capitalize their SIBs using NHS, STP, Bridge, MG, and IM funds without limitation. They may also use section 5307, 5309, 5311, and subtitle V funds provided under Title 49.	Same as current law except excludes subtitle V funds and limits SIB funding to 10% of each category.	Same as current law except limits highway and transit funding to 10 percent. [1602(a)]	Same as current law.
Allows funds to be used for any Title 23 or 49 purpose except IM funds must be used for IM projects.	Establishes separate highway and transit accounts.	Establishes separate highway, transit, and rail accounts. [1602(a)]	Same as current law.
Both initial capitalization grant assistance, and any subsequent assistance funded with loan repayments or other recycled funds, are subject to the requirements of Titles 23 and 49.	Same as current law.	Same as current law, but allows SIB funds to provide assistance to any other projects related to surface transportation the Secretary determines to be appropriate. [1602(a)]	Same as current law.

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