FL S1536

Florida Senate Memorial urging the U.S. Congress to pass H.R. 490, the Federal Infrastructure Bank Act of 2023, which would create a federal bank to finance infrastructure projects nationwide

The American Society of Civil Engineers gave U.S. infrastructure a C- grade in 2021, identifying an approximately $2.5 trillion investment gap through 2029 to restore infrastructure to good condition

Florida faces significant infrastructure deficits: 13% of roads in poor condition (costing drivers ~$425/year in vehicle maintenance), 2.9% of bridges rated structurally deficient, and an estimated $41.4 billion in combined drinking water, wastewater, and stormwater needs

The Federal Infrastructure Bank would provide equity investments, direct loans, indirect loans, and loan guarantees to eligible entities for planning, design, construction, operation, or maintenance of revenue-producing infrastructure projects, including broadband, rail, roads, and affordable housing

The memorial directs Florida's Secretary of State to send copies to the U.S. President, the President of the U.S. Senate, the Speaker of the U.S. House, and all members of Florida's congressional delegation