S.1542 - Federal Government - A bill to establish State infrastructure banks for education, and for other purposes.

A bill to establish State infrastructure banks for education, and for other purposes. 6/5/2007--Introduced. Investing for Tomorrow's Schools Act of 2007 - Authorizes the Secretary of Education to enter into cooperative agreements with states under which: (1) they establish state and multistate infrastructure banks for education; and (2) the Secretary awards grants to states for initial capital to make loans through such banks to local educational agencies and public libraries for construction, reconstruction, or renovation of public elementary or secondary schools and public library facilities. Grants congressional consent to states for interstate compacts to establish multistate infrastructure banks. Requires states to contribute from nonfederal sources at least 25% of the amount of each federal grant for an infrastructure bank. Lists types of projects eligible for such bank loans. Directs the Secretary to establish Healthy, High Performance School [...]

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