MEET OUR TEAM
GET IN TOUCH
Young Lee
GET IN TOUCH
Matthew Neuringer
BUILDING A SUSTAINABLE FUTURE
U.S. INFRASTRUCTURE INVESTMENT AND JOBS ACT
The historic $1.2 trillion infrastructure bill will fund improvements to America’s core energy and infrastructure assets, including transportation and electric vehicles, broadband, telecommunications and public utility infrastructure.
UNPACKING THE INFRASTRUCTURE ACT
ORRICK PODCAST
What Does the Infrastructure & Investment Act Mean for U.S. DOT’s Build America Bureau?
A Conversation With Executive Director Dr. Morteza Farajian
Join the conversation
Infrastructure Investment and Jobs Act: A Public Finance Perspective
Key Hydrogen Provisions of the
Bi-Partisan Infrastructure Plan
Infrastructure Investment and Jobs Act: Summary & Analysis
What are the major municipal finance changes in the Infrastructure Act?
What are the key changes to the Build America Bureau’s credit assistance programs?
Does the infrastructure bill cover asset monetization?
What programs exist for broadband expansion?
How is carbon capture incentivized by the Act?
FAQs
Orrick has long helped our U.S. and international clients craft innovative partnerships between the private and public sectors. Today we are working on the cutting edge of infrastructure modernization and energy transition on behalf of private companies, investors and governments – and playing a leading role in the marketplace conversation about how to tap new financing techniques to address acute needs across the United States. In advising our clients, we draw on teams that are rated Band 1 by Chambers in PPP, Renewable Energy and Power, and No. 1 in the bond market (for more than two decades).
What are the major municipal finance changes in the Infrastructure Act?
There are two new categories of private activity bonds for carbon capture and broadband, and an expansion of the surface transportation private activity bonds from $15 billion to $30 billion. Further details on each of these categories and their technical definitions can be found in our industry alert and public finance analysis which discusses provisions of the Act of particular interest to the municipal finance industry.
What are the key changes to the Build America Bureau’s credit assistance programs?
TIFIA and RRIF can now have loan terms up to 75 years following substantial completion. TIFIA can now expressly finance airport projects. RRIF loans now have a repayment of the credit risk premium added to the back-end of an RRIF loan. TIFIA and RRIF have both streamlined the timing for Build America approval of loan applications. Further details can be found in our industry alert.
Does the infrastructure bill cover asset monetization?
Yes, there is a new program to be administered by the Build America Bureau to fund advisory services and pre-development costs associated with investigating asset monetization. Further details can be found in our industry alert.
What programs exist for broadband expansion?
In addition to the new private activity bond category, there are grant funding programs for funding the middle-mile infrastructure and historically underserved communities with federal grants. Further details can be found in our industry alert and public finance analysis.
How is carbon capture incentivized by the Act?
In addition to discretionary grant programs, a pilot program for regionally significant facilities has been launched. A new federal credit financing program has also been created to finance carbon capture transportation facilities. Further details can be found in our industry alert and public finance analysis.
Victoria Boyne
GET IN TOUCH
Are tribal governments eligible for programs under the Act?
Are there programs for public schools?
Are tribal governments eligible for programs under the Act?
Indian tribes are eligible recipients for many of the new programs in the Act, such as the grants for vehicle charging and alternative fuel infrastructure and grants for electric grid resiliency projects. The Act also expands the eligibility for certain existing programs to include Indian tribes, such as for grants for certain rail projects, and sets aside funds for tribes, such as a 5% set aside in rural public transportation formula grants for public transportation projects on Indian reservations. Further details can be found in our public finance analysis.
Are there programs for public schools?
Although not often thought of as an infrastructure sector, the Act provides
$500 million in competitive grants to public schools for energy efficiency improvements, renewable energy, or alternative fuel infrastructure for vehicles.
The Act also provides $5 billion in funding for the replacement of school buses with zero emission or alternative fuel buses, and $200 million in funding for grants to address lead contamination in school drinking water. Further details can be found in our public finance analysis.
See full team
The Orrick Racial, Social & Economic Justice Fellowship Program
In 2021, we launched an innovative fellowship program to partner with organizations working on the frontlines to address both local community needs and national policy. Six experienced Orrick lawyers spent the year working full time and at full pay on civil rights, racial justice and economic empowerment issues at these organizations.
BUILDING A SUSTAINABLE FUTURE
U.S. INFRASTRUCTURE INVESTMENT AND JOBS ACT
Join the conversation
Infrastructure Investment and Jobs Act: Summary & Analysis
Infrastructure Investment and Jobs Act: A Public Finance Perspective
Key Hydrogen Provisions of the
Bi-Partisan Infrastructure Plan
UNPACKING THE INFRASTRUCTURE ACT
Are there programs for public schools?
How is carbon capture incentivized by the Act?
What programs exist for broadband expansion?
Does the infrastructure bill cover asset monetization?
What are the key changes to the Build America Bureau’s credit assistance programs?
What are the major municipal finance changes in the Infrastructure Act?
Are tribal governments eligible for programs under the Act?
Are there programs for public schools?
Although not often thought of as an infrastructure sector, the Act provides
$500 million in competitive grants to public schools for energy efficiency improvements, renewable energy, or alternative fuel infrastructure for vehicles.
The Act also provides $5 billion in funding for the replacement of school buses with zero emission or alternative fuel buses, and $200 million in funding for grants to address lead contamination in school drinking water. Further details can be found in our public finance analysis.
Are tribal governments eligible for programs under the Act?
Indian tribes are eligible recipients for many of the new programs in the Act, such as the grants for vehicle charging and alternative fuel infrastructure and grants for electric grid resiliency projects. The Act also expands the eligibility for certain existing programs to include Indian tribes, such as for grants for certain rail projects, and sets aside funds for tribes, such as a 5% set aside in rural public transportation formula grants for public transportation projects on Indian reservations. Further details can be found in our public finance analysis.
How is carbon capture incentivized by the Act?
In addition to discretionary grant programs, a pilot program for regionally significant facilities has been launched. A new federal credit financing program has also been created to finance carbon capture transportation facilities. Further details can be found in our industry alert and public finance analysis.
What programs exist for broadband expansion?
In addition to the new private activity bond category, there are grant funding programs for funding the middle-mile infrastructure and historically underserved communities with federal grants. Further details can be found in our industry alert and public finance analysis.
Does the infrastructure bill cover asset monetization?
Yes, there is a new program to be administered by the Build America Bureau to fund advisory services and pre-development costs associated with investigating asset monetization. Further details can be found in our industry alert.
What are the key changes to the Build America Bureau’s credit assistance programs?
TIFIA and RRIF can now have loan terms up to 75 years following substantial completion. TIFIA can now expressly finance airport projects. RRIF loans now have a repayment of the credit risk premium added to the back-end of an RRIF loan. TIFIA and RRIF have both streamlined the timing for Build America approval of loan applications. Further details can be found in our industry alert.
What are the major municipal finance changes in the Infrastructure Act?
There are two new categories of private activity bonds for carbon capture and broadband, and an expansion of the surface transportation private activity bonds from $15 billion to $30 billion. Further details on each of these categories and their technical definitions can be found in our industry alert and public finance analysis which discusses provisions of the Act of particular interest to the municipal finance industry.
GET IN TOUCH
GET IN TOUCH
GET IN TOUCH
Victoria Boyne
Matthew Neuringer
Young Lee
See full team
MEET OUR TEAM
Orrick has long helped our U.S. and international clients craft innovative partnerships between the private and public sectors. Today we are working on the cutting edge of infrastructure modernization and energy transition on behalf of private companies, investors and governments – and playing a leading role in the marketplace conversation about how to tap new financing techniques to address acute needs across the United States. In advising our clients, we draw on teams that are rated Band 1 by Chambers in PPP, Renewable Energy and Power, and No. 1 in the bond market (for more than two decades).
