FL S1562

Urges Congress to pass H.R. 490 (Federal Infrastructure Bank Act of 2023) to create a federally-backed infrastructure bank for financing infrastructure projects nationwide.

Cites American Society of Civil Engineers report showing the U.S. infrastructure received a C- grade and requires $4.5 trillion to restore to good repair, with significant funding gaps remaining.

Identifies Florida-specific infrastructure challenges including 13 percent of roads in poor condition costing drivers $425 annually, 2.9 percent of bridges rated structurally deficient, and $41.4 billion in combined drinking water, wastewater, and stormwater needs.

Describes H.R. 490 as providing equity investments, direct loans, indirect loans, and loan guarantees to eligible entities for revenue-producing infrastructure projects including roads, rail, broadband connectivity, and housing affordability solutions.

Directs the Secretary of State to distribute copies of the memorial to the President, congressional leadership, and Florida's federal delegation.