AZ SCM1001

Urges U.S. Congress to enact legislation establishing a National Infrastructure Bank (NIB) to finance infrastructure projects through long-term financing mechanisms.

Cites American Society of Civil Engineers reports showing the U.S. needs $4.5 trillion for infrastructure repair, with Arizona receiving a C grade and facing a $30 billion projected infrastructure shortfall over 25 years.

References H.R. 3339 (National Infrastructure Bank Act) from the 117th Congress, which would have authorized $5 trillion for infrastructure investment without requiring new federal spending or taxes through repurposing existing treasury debt.

States the NIB would finance broadband connectivity, roads, bridges, affordable housing, rail lines including high-speed rail, and water programs, while creating approximately 25 million jobs with Davis-Bacon wages and Buy American provisions.

Directs the Arizona Secretary of State to transmit copies of this memorial to the President of the U.S. Senate, Speaker of the U.S. House of Representatives, and all Arizona Members of Congress.