United States Territories Infrastructure Bond Bank Authorization Act - Directs the Secretary to establish a United States Territories Infrastructure Bond Bank to provide low-cost financing for the governments of American Samoa, Guam, the U.S. Virgin Islands, and the Northern Mariana Islands to construct infrastructure or to refinance debt acquired to construct infrastructure.
Directs the Secretary to incorporate the Bank in a U.S. jurisdiction and organize the initial meeting of its Board of Directors, which shall consist of five members, with one appointed by the Secretary and each of the governors of American Samoa, Guam, the U.S. Virgin Islands, and the Northern Mariana Islands. Allows the Secretary, after the initial five years of the Bank's existence, to invite the governor of another U.S. territory to appoint a Board member, at which time eligibility for Bank services shall be extended to that territory.
Authorizes the interception of federal aid intended for a U.S. territory that has defaulted on an obligation to the Bank. Exempts Bank activities and income from taxation.
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