1. Short title This Act may be cited as the Investing for Tomorrow’s Schools Act . 2. State infrastructure bank pilot program (a) Establishment (1) Cooperative agreements Subject to the provisions of this section, the Secretary of the Treasury, in consultation with the Secretary of Education, may enter into cooperative agreements with States for the establishment of State infrastructure banks and multistate infrastructure banks for making loans— (A) to local educational agencies for building or repairing elementary or secondary schools which provide free public education (as such terms are defined in section 8101 of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7801 )); (B) to public libraries for building or repairing library facilities; (C) to eligible charter school entities for use for the objective described in section 4302(2) of such Act ( 20 U.S.C. 7221a(2) ) consistent with part C of title IV of such Act ( 20 U.S.C. 7221 et seq.); (D) to community learning centers to connect and improve broadband services