Rep. Rosa DeLauro, D-Conn., has introduced legislation to establish a National Infrastructure Development Bank that could issue "public benefit bonds" exempt from state and local taxes to finance infrastructure projects over the next 15 years.

Modeled after the European Investment Bank, the infrastructure bank would leverage private sector dollars to invest in transportation, environmental, energy, and telecommunications infrastructure projects, according to the bill, which is called the National Infrastructure Development Bank Act of 2009 (HR 2521).

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