State Infrastructure Banks for Schools Act of 1997 - Authorizes the Secretary of the Treasury to: (1) enter into cooperative agreements with States for the establishment of State infrastructure banks and multistate infrastructure banks for making loans to local educational agencies (LEAs) for building or repairing elementary or secondary public schools; and (2) make initial capitalization grants to State and multistate infrastructure banks.
Sets forth: (1) conditions, including State contribution requirements, for States to meet in order to establish such infrastructure banks; (2) authorized forms of assistance to LEAs from such banks; (3) criteria for loans; and (4) qualifying projects. Declares that the contribution of Federal funds to an infrastructure bank shall not be construed as an obligation of the United States to any third party.
Directs the Secretary of the Treasury to review the financial condition of each infrastructure bank and report to the Congress.
Authorizes appropriations.
Introduced in House
Introduced in House
Referred to the House Committee on Education and the Workforce.
Sponsor introductory remarks on measure. (CR H3584)
Referred to the Subcommittee on Early Childhood, Youth and Families.
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