Davids Introduces Bill to Help Local Communities Finance Infrastructure Projects
Representative Sharice Davids, Vice Chair for the House Transportation and Infrastructure Committee, has introduced the Helping Communities Invest in Infrastructure Act, legislation that will help local communities access infrastructure financing.
“Infrastructure touches every aspect of our lives and I’m working to ensure that communities in the Kansas City Metro area are able to make the kinds of upgrades and repairs that will keep people safe and create good-paying jobs,” said Davids. “The Helping Communities Invest in Infrastructure Act makes it easier for cities, towns, and rural communities to not only maintain current transportation infrastructure, but also access funding for new infrastructure projects that keep residents connected and enhance economic competitiveness. Communities of all sizes deserve good, clean, and efficient infrastructure. This bill would help get us there.”
Currently, many smaller cities and rural communities have difficulty applying for financing for infrastructure projects through the National Surface Transportation and Innovative Finance Bureau, better known as the Build America Bureau. These projects include The Transportation Infrastructure Finance and Innovation Act (TIFIA) program which provides credit assistance for qualified projects of regional and national significance, leveraging federal and private funding to move projects along.
Specifically, this bill increases accountability within the Build America Bureau to ensure that taxpayer dollars are actually translating to a positive impact in communities. Also, it increases outreach to smaller communities to share information about funding opportunities and inform them of best practices for applying for funding. Finally, it increases funding for the Rural Project Initiative to provide loans well below market interest rate and waive funding application fees for local governments, which can amount to hundreds of thousands of dollars.