H.R. 6104 · 115th Congress
Generating American Income and Infrastructure Now Act
- Stage
- In committee
- Sponsor
- Mike Kelly
- Introduced
- 2018-06-14
- Latest action
- 2018-06-15 · Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Summary
Generating American Income and Infrastructure Now Act
This bill requires the Department of Agriculture (USDA) to sell certain distressed notes and other obligations held by USDA. The sale must be conducted under terms and procedures established by the Department of the Treasury and specified in the bill. Of the proceeds from the sale: (1) 50% must be deposited into an account for carrying out infrastructure projects in low-income communities, and (2) 50% must be retained in the Treasury for deficit reduction.