,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #beec  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #bg1 #bjac ,ms4 
,de,lauro 7= h]self1 ,mr4 ,israel1 ,mr4 
,ellison1 ,mr4 ,ti]ney1 ,mr4 ,cicill9e1 
,mr4 ,mc,govern1 ,ms4 ,m5g1 ,mr4        
,maffei1 ,mr4 ,tonko1 ,ms4 ,slaught]1   
,ms4 ,s*ak[sky1 ,mr4 ,s>banes1 ,mrs4    
,*ri/5s51 ,mr4 ,braley ( ,i[a1 ,mr4     
,y>mu?1 ,mr4 ,ru%1 ,ms4 ,*u1 ,ms4 ,p+ree
 ( ,ma9e1 ,mr4 ,l>son ( ,connecticut1   
,ms4 ,norton1 ,mr4 ,honda1 ,ms4 ,e%oo1  
,mr4 ,lyn*1 ,mr4 ,wel*1 ,mr4 ,mi*aud1   
,mr4 ,sires1 ,ms4 ,bordallo1 ,ms4       
,%ea-,port]1 ,ms4 ,spei]1 ,mr4 ,l[5?al1 
,mr4 ,pocan1 ,mr4 ,takano1 ,mr4         
,ri*mond1 ,ms4 ,e/y1 ,mr4 ,c\rtney1 ,mr4
 ,pascrell1 ,mr4 ,deut*1 ,mr4 ,langev91 
,ms4 ,bonamici1 ,ms4 ,mc,collum1 ,mrs4  
,capps1 ,mr4 ,blum5au]1 ,mr4 ,cony]s1   
,mr4 ,al ,gre5 ( ,texas1 ,mr4 ,watt1    
,mr4 ,moran1 ,mr4 ,grijalva1 ,ms4 ,lee (
 ,cali=nia1 ,mr4 ,g>am5di1 ,mr4 ,c>son (
 ,indiana1 ,mr4 ,keat+1 ,mr4 ,veasey1   
,ms4 ,duckwor?1 ,mr4 ,van ,holl51 ,ms4  

,matsui1 ,mrs4 ,kirkpatrick1 ,ms4 ,l9da 
,t4 ,sn*ez ( ,cali=nia1 ,mr4 ,lip9ski1  
,mr4 ,heck ( ,wa%+ton1 ,mr4 ,%]man1 ,mr4
 ,himes1 ,mr4 ,price ( ,nor? ,c>ol9a1 & 
,mr4 ,f>r7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,en]gy &    
,comm]ce1 & 9 addition to ! ,committees 
on ,transportation & ,infra/ructure1    
,f9ancial ,s]vices1 & ,ways & ,means1 = 
a p]iod to be subsequ5tly det]m9$ by !  
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
facilitate effici5t inve/m5ts & f9anc+ (
 infra/ructure projects & new job       
creation ?r\gh ! e/abli%m5t ( a         
,national ,infra/ructure ,developm5t    
,bank1 & = o!r purposes4  #a4 ,%ort     
title ,?is ,act may be cit$ z !         
,national ,infra/ructure ,developm5t    
,bank ,act ( #bjac4  #b4 ,f9d+s         
,congress f9ds ! foll[+3  7#a7 ,inve/m5t
 9 infra/ructure has always creat$ jobs 
& economic gr[? = ! ,unit$ ,/ates & has 
be5 a key compon5t ( ma9ta9+ a global   

competitive edge = ! ,unit$ ,/ates4     
7#b7 ,! ,erie ,canal1 ! transcont95tal  
railroad1 ! ,hoov] ,dam1 rural          
electrification1 & ! int]/ate highway   
sy/em are all examples ( inve/m5ts 9    
infra/ructure t creat$ ! conditions =   
future economic gr[?4  7#c7 ,accord+ to 
! ,_w ,economic ,=um ,global            
,competitiv5ess ,report1 ! ,unit$ ,/ates
 ranks #ad? ov]all 9 infra/ructure4     
7#d7 ,accord+ to ! ,am]ican ,society (  
,civil ,eng9e]s1 ! curr5t condition ( ! 
infra/ructure 9 ! ,unit$ ,/ates e>ns a  
grade po9t av]age ( ,d1 & an e/imat$    
#c1fjj1jjj1jjj1jjj inve/m5t is ne$$ by  
#bjbj to meet adequate conditions4  7#e7
 ,accord+ to ! ,national ,surface       
,transportation ,policy & ,rev5ue ,/udy 
,commission1 #bbe1jjj1jjj1jjj is ne$$   
annually f all s\rces = ! next #ej ye>s 
to upgrade our surface transportation   
sy/em to a /ate ( good repair & create a
 m advanc$ sy/em4  7#f7 ,! ,environm5tal
 ,protection ,ag5cy projects t--  7,a7  
#ccd1hjj1jjj1jjj is ne$$ to inve/ 9     

infra/ructure improvem5ts ov] #bj ye>s  
to ensure ! provision ( safe wat]2 &    
7,b7 #bjb1ejj1jjj1jjj is ne$$ = publicly
 own$ wa/ewat] sy/ems-relat$            
infra/ructure ne$s ov] #bj ye>s4  7#g7  
,accord+ to ! ,edison ,electric         
,in/itute1 ! electric p[] indu/ry w ne$ 
to inve/ #bih1jjj1jjj1jjj 9 ! ,nation's 
transmission sy/em 9 ! next #bj ye>s 9  
ord] to ma9ta9 reliable s]vice4  7#h7   
,accord+ to ! ,organization = ,economic 
,coop]ation & ,developm5t 7,,oecd71 !   
,unit$ ,/ates ranks #ae? among ,,oecd   
nations 9 fix$ & wireless broadb& access
 p] #ajj inhabitants4  7#i7 ,al?\gh     
grant programs ( ! ,gov]nm5t mu/ cont9ue
 to play a c5tral role 9 f9anc+ !       
transportation1 environm5t1 en]gy1 &    
telecommunications infra/ructure ne$s ( 
! ,unit$ ,/ates1 curr5t & =eseeable     
dem&s on exi/+ ,f$]al1 ,/ate1 & local   
fund+ = infra/ructure expansion exce$ ! 
res\rces to support ^! programs by m>g9s
 wide en\gh to prompt s]i\s conc]ns ab\t
 ! ,unit$ ,/ates' ability to su/a9      

long-t]m economic developm5t1           
productivity1 & int]national            
competitiv5ess4  7#aj7 ,! capital       
m>kets1 includ+ c5tral banks1 p5sion    
funds1 f9ancial in/itutions1 sov]eign   
weal? funds1 & insurance companies1 h a 
gr[+ int]e/ 9 infra/ructure inve/m5t4 ,!
 e/abli%m5t ( a ,unit$ ,/ates           
,gov]nm5t-own$ in/itution t w\ld provide
 ?is inve/m5t opportunity to f9ance     
qualify+ infra/ructure projects w\ld    
attract ne$$ capital = ,unit$ ,/ates    
infra/ructure developm5t4  #c4          
,def9itions ,= purposes ( ?is ,act1 !   
foll[+ def9itions apply unless ! context
 requires o!rwise3  7#a7 ,am]ican       
,infra/ructure ,bond ,! t]m ,am]ican    
,infra/ructure ,bond means a bond       
describ$ "u section #ag4  7#b7 ,bank ,! 
t]m ,bank means ! ,national             
,infra/ructure ,developm5t ,bank        
e/abli%$ "u section #d7;a74  7#c7 ,bo>d 
,! t]m ,bo>d means ! ,national          
,infra/ructure ,developm5t ,bank ,bo>d4 
7#d7 ,*ief asset & liability managem5t  

(fic] ,! t]m *ief asset & liability     
managem5t (fic] means ! *ief individual 
responsible = coord9at+ ! managem5t (   
assets & liabilities ( ! ,bank4  7#e7   
,*ief compliance (fic] ,! t]m *ief      
compliance (fic] or ,,cco means ! *ief  
individual responsible = ov]see+ &      
manag+ ! compliance & regulatory affairs
 issues ( ! ,bank4  7#f7 ,*ief executive
 (fic] ,! t]m *ief executive (fic] or   
,,ceo means ! individual s]v+ z !       
executive director ( ! bank4  7#g7 ,*ief
 f9ancial (fic] ,! t]m *ief f9ancial    
(fic] or ,,cfo means ! *ief individual  
responsible = manag+ ! f9ancial risks1  
plann+1 & report+ ( ! ,bank4  7#h7 ,*ief
 loan orig9ation (fic] ,! t]m *ief loan 
orig9ation (fic] means ! *ief individual
 responsible = ! process+ ( new loans   
provid$ by ! ,bank4  7#i7 ,*ief         
op]ations (fic] ,! t]m *ief op]ations   
(fic] or ,,coo means ! *ief individual  
responsible = in=mation te*nology & !   
day to day op]ations ( ! ,bank4  7#aj7  
,*ief risk (fic] ,! t]m *ief risk (fic] 

or ,,cro means ! *ief individual        
responsible = manag+ op]ational &       
compliance-relat$ risks ( ! ,bank4      
7#aa7 ,*ief treasury (fic] ,! t]m *ief  
treasury (fic] means ! *ief individual  
responsible = manag+ ! ,bank's treasury 
op]ations4  7#ab7 ,developm5t ,! t]ms   
developm5t & develop mean1 ) respect to 
an infra/ructure project1 any--  7,a7   
precon/ruction plann+1 feasibility      
review1 p]mitt+1 design "w1 life-cycle  
ma9t5ance plann+1 & o!r precon/ruction  
activities2 &  7,b7 con/ruction1        
recon/ruction1 rehabilitation1          
replacem5t1 or expansion4  7#ac7 ,direct
 loan ,! t]m direct loan has ! same     
mean+ z 9 section #ejb ( ! ,f$]al ,cr$it
 ,re=m ,act ( #aiij 7#b ,u4,s4,c4       
#ffa;a74  7#ad7 ,disadvantag$ community 
,! t]m disadvantag$ community means a   
community ) a m$ian h\sehold income (   
less ?an #hj p]c5t ( ! /atewide m$ian   
h\sehold income = ! ,/ate 9 :i* !       
community is locat$4  7#ae7 ,en]gy      
infra/ructure project ,! t]m en]gy      

infra/ructure project means any project 
= en]gy transmission & di/ribution1     
en]gy effici5cy enhancem5t = build+s1   
public h\s+1 heal? facilities1 s*ools1 &
 en]gy /orage4  7#af7 ,entity ,! t]m    
entity means an individual1 corporation1
 p>tn]%ip 7includ+ a public-private     
p>tn]%ip71 jo9t v5ture1 tru/1 & a ,/ate 
or o!r gov]nm5tal entity1 includ+ a     
political subdivision or any o!r        
in/rum5tality ( a ,/ate or a revolv+    
fund4  7#ag7 ,environm5tal infra/ructure
 project ,! t]m environm5tal            
infra/ructure project means any project 
= ! e/abli%m5t1 ma9t5ance1 or enhancem5t
 ( any dr9k+ wat] & wa/ewat] treatm5t   
facility1 /orm wat] managem5t sy/em1    
flood gate1 dam1 levee1 dr$g+1 op5 space
 managem5t sy/em1 wetl& re/oration1     
infill developm5t1 solid wa/e disposal  
facility1 haz>d\s wa/e facility1 or     
indu/rial site cleanup or rem$iation    
projects4  7#ah7 ,g5]al c\nsel ,! t]m   
g5]al c\nsel means ! individual :o s]ves
 z ! *ief lawy] = ! ,bank4  7#ai7       

,gre5h\se gases ,! t]m gre5h\se gases   
means any ( ! foll[+3  7,a7 ,c>bon      
dioxide4  7,b7 ,me?ane4  7,c7 ,nitr\s   
oxide4  7,d7 ,sulfur hexafluoride4  7,e7
 ,hydr(luoroc>bons  7,f7 ,any           
p]fluoroc>bon4  7,g7 ,nitrog5           
trifluoride4  7,h7 ,any o!r an?ropog5ic 
gas designat$ z a gre5h\se gas by !     
,environm5tal ,protection ,ag5cy        
,adm9i/rator4  7#bj7 ,infra/ructure     
project ,! t]m infra/ructure project    
means any en]gy1 environm5tal1          
telecommunications1 or transportation   
infra/ructure project4  7#ba7 ,loan     
gu>antee ,! t]m loan gu>antee has ! same
 mean+ z 9 section #ejb ( ! ,f$]al      
,cr$it ,re=m ,act ( #aiij 7#b ,u4,s4,c4 
#ffa;a74  7#bb7 ,public ,b5efit ,bond ,!
 t]m ,public ,b5efit ,bond means any    
bond issu$ 9 accordance ) ?is ,act if-- 
7,a7 ! proce$s f ! sale ( ! bond are to 
be us$ = exp5ditures incurr$ aft] ! date
 ( issuance ) respect to any            
infra/ructure project or o!r purpose1   
subject to su* rules z ! ,bank may      

provide2  7,b7 ! bond is issu$ 9 regi/]$
 =m2  7,c7 ! bond has su* t]ms1 & c>ries
 int]e/ 9 su* an am\nt1 z det]m9$ by !  
,bank2 &  7,d7 paym5ts ( int]e/ &       
pr9cipal ) respect to ! bond is !       
obligation ( ! ,bank & is back$ by !    
full fai? & cr$it ( ! ,unit$ ,/ates4    
7#bc7 ,public-private p>tn]%ip ,! t]m   
public-private p>tn]%ip means any       
entity--  7,a7  7i7 :i* is und]tak+ !   
developm5t ( all or "p ( an             
infra/ructure project1 :i* w h a public 
b5efit1 pursuant to requirem5ts e/abli%$
 9 "o or m contracts betwe5 ! entity & a
 ,/ate or an in/rum5tality ( a ,/ate2 or
  7ii7 ! activities ( :i*1 ) respect to 
su* an infra/ructure project1 are       
subject to regulation by a ,/ate or any 
in/rum5tality ( a ,/ate2 &  7,b7 :i*    
owns1 leases1 or op]ates1 or w own1     
lease1 or op]ate1 ! project 9 :ole or 9 
"p1 & at lea/ "o ( ! p>ticipants 9 !    
entity is a nongov]nm5tal entity4  7#bd7
 ,revolv+ fund ,! t]m revolv+ fund means
 a fund or program e/abli%$ by a ,/ate  

or a political subdivision or o!r       
in/rum5tality ( a ,/ate1 ! pr9cipal     
activity ( :i* is to make loans1        
commitm5ts1 or o!r f9ancial             
accommodation available = ! developm5t (
 "o or m categories ( infra/ructure     
projects4  7#be7 ,secret>y ,! t]m       
,secret>y means ! ,secret>y ( !         
,treasury or ! designee ( ! ,secret>y4  
7#bf7 ,sm>t grid ,! t]m sm>t grid means 
a sy/em t provides = any ( ! sm>t grid  
functions set =? 9 section #acjf7;d7 ( !
 ,en]gy ,indep5d5ce & ,security ,act (  
#bjjg 7#db ,u4,s4,c4 #agchf7;d774  7#bg7
 ,/ate ,! t]m ,/ate includes ! ,di/rict 
( ,columbia1 ,pu]to ,rico1 ,guam1       
,am]ican ,samoa1 ! ,virg9 ,isl&s1 !     
,commonweal? ( ,nor!rn ,m>iana ,isl&s1 &
 any o!r t]ritory ( ! ,unit$ ,/ates4    
7#bh7 ,telecommunications infra/ructure 
project ,! t]m telecommunications       
infra/ructure project means any project 
involv+ infra/ructure requir$ to provide
 communications by wire or radio4  7#bi7
 ,transportation infra/ructure project  

,! t]m transportation infra/ructure     
project means any project = !           
con/ruction1 ma9t5ance1 or enhancem5t ( 
highways1 roads1 bridges1 transit &     
int]modal sy/ems1 inl& wat]ways1        
comm]cial ports1 airports1 high spe$    
rail & freight rail sy/ems4  #d4        
,e/abli%m5t ( national infra/ructure    
developm5t bank  7a7 ,e/abli%m5t (      
national infra/ructure developm5t bank  
,! ,national ,infra/ructure ,developm5t 
,bank is e/abli%$ z a :olly own$        
,gov]nm5t corporation subject to *apt]  
#ia ( title #ca1 ,unit$ ,/ates ,code    
7commonly kn[n z ! ,gov]nm5t            
,corporation ,control ,act71 except z   
o!rwise provid$ 9 ?is ,act4  7b7        
,responsibility ( ! secret>y ,!         
,secret>y %all take su* action z may be 
necess>y to assi/ 9 implem5t+ !         
e/abli%m5t ( ! bank 9 accordance ) ?is  
,act4  7c7 ,con=m+ am5dm5t ,section     
#iaja7c7 ( title #ca1 ,unit$ ,/ates     
,code1 is am5d$ by ins]t+ aft]          
subp>agraph 7,n7 ! foll[+3  7,o7 !      

,national ,infra/ructure ,developm5t    
,bank4  4  #e4 ,bo>d ( directors  7a7 ,9
 g5]al ,! ,bank %all h a ,bo>d (        
,directors consi/+ ( #g memb]s appo9t$  
by ! ,presid5t & ) ! advice & cons5t ( !
 ,s5ate4  7b7 ,qualifications ,!        
directors ( ! ,bo>d %all include        
individuals repres5t+ diff]5t regions ( 
! ,unit$ ,/ates &--  7#a7 #b ( !        
directors %all h public sector exp]i5ce2
  7#b7 #b ( ! directors %all h private  
sector exp]i5ce2 &  7#c7 #c ( !         
directors %all h f9ance exp]i5ce4  7c7  
,*airp]son & vice *airp]son ,z designat$
 at ! "t ( appo9tm5t1 "o ( ! directors (
 ! ,bo>d %all be designat$ *airp]son ( !
 ,bo>d by ! ,presid5t & "o %all be      
designat$ z vice *airp]son ( ! ,bo>d by 
! ,presid5t4  7d7 ,t]ms  7#a7 ,9 g5]al  
,except z provid$ 9 p>agraph 7#b7 &     
subsection 7f71 ea* director %all be    
appo9t$ = a t]m ( #f ye>s4  7#b7        
,initial /agg]$ t]ms ,( ! initial memb]s
 ( ! ,bo>d--  7,a7 ! *airp]son & vice   
*airp]son %all ea* be appo9t$ = t]ms (  

#f ye>s2  7,b7 #c %all be appo9t$ = a   
t]m ( #d ye>s2 &  7,c7 #b %all be       
appo9t$ = a t]m ( #b ye>s4  7e7         
,congressional recomm5dations ,n lat]   
?an #cj days aft] ! date ( enactm5t (   
?is ,act1 ! majority lead] ( ! ,s5ate1 !
 m9ority lead] ( ! ,s5ate1 ! ,speak] ( !
 ,h\se ( ,repres5tatives1 & ! m9ority   
lead] ( ! ,h\se ( ,repres5tatives %all  
ea* submit a recomm5dation to !         
,presid5t = appo9tm5t ( a memb] ( !     
,bo>d ( ,directors1 aft] consultation ) 
! appropriate committees ( ,congress4   
7f7 ,date ( initial nom9ations ,!       
initial nom9ations by ! ,presid5t =     
appo9tm5t ( directors to ! ,bo>d %all be
 made n lat] ?an #fj days aft] ! date ( 
enactm5t ( ?is ,act4  7g7 ,vacancies    
7#a7 ,9 g5]al ,a vacancy on ! ,bo>d %all
 be fill$ 9 ! mann] 9 :i* ! orig9al     
appo9tm5t 0 made4  7#b7 ,appo9tm5t to   
replace dur+ t]m ,any director appo9t$  
to fill a vacancy occurr+ be=e !        
expiration ( ! t]m = :i* ! director's   
pr$ecessor 0 appo9t$ %all be appo9t$    

only = ! rema9d] ( ! t]m4  7#c7         
,duration ,a director may s]ve aft] !   
expiration ( t director's t]m until a   
successor has tak5 (fice4  7h7 ,quorum  
,f\r directors %all con/itute a quorum4 
7i7 ,reappo9tm5t ,a director ( ! ,bo>d  
appo9t$ by ! ,presid5t may be reappo9t$ 
by ! ,presid5t 9 accordance ) ?is       
section4  7j7 ,p] diem reimbursem5t     
,directors ( ! ,bo>d %all s]ve on a     
"p-"t basis & %all receive a p] diem :5 
engag$ 9 ! actual p]=mance ( ,bank      
bus9ess1 plus reasonable reimbursem5t = 
travel1 subsi/5ce1 & o!r necess>y       
exp5ses incurr$ 9 ! p]=mance ( _!       
duties4  7k7 ,limitations ,a director ( 
! ,bo>d may n p>ticipate 9 any review or
 decision affect+ a project "u          
consid]ation = assi/ance "u ?is ,act if 
! director has or is affiliat$ ) a p]son
 :o has an int]e/ 9 su* project4  7l7   
,responsibilities ,! ,bo>d %all--  7#a7 
z soon z is practicable aft] ! date on  
:i* ! la/ director is appo9t$1 e/abli%  
an ,executive ,committee1 ,risk         

,managem5t ,committee & ,audit          
,committee z prescrib$ by ?is ,act2     
7#b7 n lat] ?an #ahj days aft] ! date on
 :i* ! la/ director is appo9t$ develop &
 approve ! bylaws ( ! ,bank1 includ+    
bylaws = ! regulation ( ! affairs &     
conduct ( ! bus9ess ( ! ,bank1 consi/5t 
) ! purpose1 goals1 objectives1 &       
policies set =? 9 ?is ,act2  7#c7 ensure
 t ! ,bank is at all times op]at$ 9 a   
mann] t is consi/5t ) ?is ,act1 by--    
7,a7 monitor+ & assess+ ! effectiv5ess (
 ! ,bank 9 a*iev+ its /rategic goals2   
7,b7 p]iodically review+ int]nal        
policies submitt$ by ! *ief executive   
(fic]2  7,c7 review+ & approv+ annual   
bus9ess plans1 annual budgets1 &        
long-t]m /rategies submitt$ by ! *ief   
executive (fic]2  7,d7 review+ & approv+
 annual reports submitt$ by ! *ief      
executive (fic]2  7,e7 review+ risk     
managem5t & audit practices ( ! ,bank2 &
  7,f7 review+ & approv+ all *anges to !
 organization ( ! ,bank2 &  7#d7 e/abli%
 su* o!r crit]ia1 requirem5ts1 or       

proc$ures z ! ,bo>d may consid] to be   
appropriate 9 c>ry+ out ?is ,act4  7m7  
,meet+s  7#a7 ,op5 to ! public2 notice  
,all meet+s ( ! ,bo>d held to conduct ! 
bus9ess ( ! ,bank %all be op5 to !      
public & %all be prec$$ by reasonable   
notice4  7#b7 ,initial meet+ ,! ,bo>d   
%all meet n lat] ?an #ij days aft] !    
date on :i* ! la/ director is appo9t$ & 
o!rwise at ! call ( ! ,*airp]son4  7#c7 
,exception = clos$ meet+s ,pursuant to  
su* rules z ! ,bo>d may e/abli% ?r\gh _!
 bylaws1 ! directors may close a meet+ (
 ! ,bo>d if1 at ! meet+1 !re is likely  
to be disclos$ in=mation :i* c\ld       
adv]sely affect or lead to speculation  
relat+ to an infra/ructure project "u   
consid]ation = assi/ance "u ?is ,act or 
9 f9ancial or securities or commodities 
m>kets or in/itutions1 utilities1 or    
real e/ate4 ,! det]m9ation to close any 
meet+ ( ! ,bo>d %all be made 9 a meet+ (
 ! ,bo>d1 op5 to ! public1 & prec$$ by  
reasonable notice4 ,! ,bo>d %all prep>e 
m9utes ( any meet+ :i* is clos$ to !    

public & make su* m9utes available z    
soon z ! consid]ations necessitat+ clos+
 su* meet+ no long] apply4  #f4 ,p[]s & 
limitations ( ! ,bo>d  7a7 ,p[]s ,9 ord]
 to c>ry out ! purposes ( ! ,bank z set 
=? 9 ?is ,act1 ! ,bo>d %all be          
responsible = monitor+ & ov]see+        
infra/ructure projects & h ! foll[+     
p[]s3  7#a7 ,to make s5ior & subord9at$ 
direct loans on su* t]ms z ! ,bo>d may  
det]m9e1 9 ! ,bo>d's discretion1 to be  
appropriate to assi/ 9 ! f9anc+ or      
ref9anc+ ( an infra/ructure project4    
7#b7 ,to make loan gu>antees on su* t]ms
 z ! ,bo>d may det]m9e1 9 ! ,bo>d's     
discretion1 to be appropriate to assi/ 9
 ! f9anc+ or ref9anc+ ( an infra/ructure
 project4  7#c7 ,to issue ,public       
,b5efit ,bonds1 to provide f9anc+ to    
infra/ructure projects f am\nts made    
available f ! issuance ( su* bonds4     
7#d7 ,to pay an int]e/ subsidy on       
,am]ican ,infra/ructure ,bonds to !     
issu] ( su* bonds4  7#e7 ,to make       
agreem5ts & contracts ) any entity 9    

fur!rance ( ! bus9ess ( ! ,bank4  7#f7  
,to monitor & ov]see infra/ructure      
projects f9anc$1 9 :ole or 9 "p1 by !   
,bank4  7#g7 ,to sue & be su$ 9 !       
,bank's corporate capacity 9 any c\rt ( 
compet5t jurisdiction1 except t no      
atta*m5t1 injunction1 or simil> process1
 may be issu$ aga9/ ! prop]ty ( ! ,bank 
or aga9/ ! ,bank ) respect to su*       
prop]ty4  7#h7 ,to indemnify ! directors
 & (fic]s ( ! ,bank = liabilities aris+ 
out ( ! actions ( ! directors & (fic]s 9
 su* capacity1 9 accordance )1 & subject
 to ! limitations conta9$ 91 ?is ,act4  
7#i7 ,to s]ve z ! prim>y liaison betwe5 
! ,bank & ! ,congress1 ! executive      
bran*1 & ,/ate & local gov]nm5ts1 & to  
repres5t ! ,bank's int]e/s4  7#aj7 ,to  
ex]cise all o!r lawful p[]s :i* are     
necess>y or appropriate to c>ry out1 &  
are consi/5t )1 ! purposes ( ! ,bank4   
7b7 ,limitations  7#a7 ,issuance (      
,public ,b5efit ,bonds ,! ,bo>d may n   
issue any ,public ,b5efit ,bond )\t !   
prior cons5t ( ! ,secret>y4  7#b7       

,employee protections ,prior to provid+ 
any f9ancial assi/ance = an             
infra/ructure project involv+           
recon/ruction1 rehabilitation1          
replacem5t or expansion t may impact    
curr5t employees on ! project site1 !   
int]e/s ( employees affect$ by !        
f9ancial assi/ance %all be protect$ "u  
arrangem5ts ! ,secret>y ( ,labor        
concludes are fair & equitable 9        
accordance ) section #eccc7;b77#b7 (    
title #di4  7c7 ,actions consi/5t )     
self-,support+ entity /atus ,! ,bo>d    
%all conduct its bus9ess 9 a mann]      
consi/5t ) ! requirem5ts ( ?is section4 
7d7 ,coord9ation ) /ate & local         
regulatory au?ority ,! provision (      
f9ancial assi/ance by ! ,bo>d pursuant  
to ?is ,act %all n be con/ru$ z--  7#a7 
limit+ ! "r ( any ,/ate or political    
subdivision or o!r in/rum5tality ( a    
,/ate to approve or regulate rates (    
return on private equity inve/$ 9 a     
project2 or  7#b7 o!rwise sup]s$+ any   
,/ate law or regulation applicable to a 

project4  7e7 ,f$]al p]sonnel reque/s ,!
 ,bo>d %all h ! p[] to reque/ ! detail1 
on a reimbursable basis1 ( p]sonnel f   
o!r ,f$]al ag5cies ) specific exp]tise n
 available f )9 ! ,bank or else:]e4 ,!  
head ( any ,f$]al ag5cy may detail1 on a
 reimbursable basis1 any p]sonnel ( su* 
ag5cy reque/$ by ! ,bo>d & %all n )hold 
unreasonably ! detail ( any p]sonnel    
reque/$ by ! ,bo>d4  #g4 ,executive     
committee  7a7 ,9 g5]al ,! ,bo>d %all   
e/abli% an ,executive ,committee consi/+
 ( #i memb]s1 head$ by ! *ief executive 
(fic] ( ! ,bank4  7b7 ,,ceo ,a majority 
( ! ,bo>d %all h ! au?ority to appo9t & 
reappo9t ! *ief executive (fic] ) su*   
executive functions1 p[]s1 & duties z   
may be prescrib$ by ?is ,act1 ! bylaws (
 ! ,bank1 or ! ,bo>d4  7c7 ,,ceo        
responsibilities ,! ,,ceo %all h        
responsibility = ! developm5t &         
implem5tation ( ! /rategy ( ,bank1      
includ+--  7#a7 ! developm5t &          
submission to ! ,bo>d ( ! annual bus9ess
 plans & budget2  7#b7 ! developm5t &   

submission to ! ,bo>d ( a long-t]m      
/rategic plan2 &  7#c7 ! developm5t1    
revision1 & submission to ! ,bo>d (     
,directors ( int]nal policies4  7d7 ,o!r
 executive (fic]s ,! ,bo>d %all appo9t1 
remove1 fix ! comp5sation1 & def9e      
duties ( #h o!r executive (fic]s to s]ve
 on ! ,executive ,committee z !--  7#a7 
*ief compliance (fic]2  7#b7 *ief       
f9ancial (fic]2  7#c7 *ief asset &      
liability managem5t (fic]2  7#d7 *ief   
loan orig9ation (fic]2  7#e7 *ief       
op]ations (fic]2  7#f7 *ief risk (fic]2 
7#g7 *ief treasury (fic]2 &  7#h7 g5]al 
c\nsel4  7e7 ,qualifications ,! ,,ceo   
%all h exp]i5ce & exp]tise 9 f9ance & ! 
o!r executive (fic]s %all h demon/rat$  
exp]i5ce & exp]tise 9 "o or m ( !       
foll[+3  7#a7 ,transportation           
infra/ructure4  7#b7 ,environm5tal      
infra/ructure4  7#c7 ,en]gy             
infra/ructure4  7#d7 ,telecommunications
 infra/ructure4  7#e7 ,economic         
developm5t4  7#f7 ,work=ce developm5t4  
7#g7 ,public heal?4  7#h7 ,private or   

public f9ance4  7f7 ,duties ,9 ord] to  
c>ry out ! purposes ( ! ,bank z set =? 9
 ?is ,act1 ! ,executive ,committee      
%all--  7#a7 e/abli% & submit to ! ,bo>d
 disclosure & application proc$ures =   
entities nom9at+ projects = assi/ance "u
 ?is ,act2  7#b7 e/abli% & submit to !  
,bo>d /&>diz$ t]ms & conditions1 fee    
s*$ules1 or legal requirem5ts ( a       
contract or program to c>ry out ?is     
,act2  7#c7 e/abli% & submit to ! ,bo>d 
guidel9es = ! selection & approval (    
projects & specific crit]ia = det]m9+   
eligibility = project selection2  7#d7  
accept1 = consid]ation1 project         
proposals relat+ to ! developm5t (      
infra/ructure projects1 :i* meet ! basic
 crit]ia e/abli%$ by ! ,executive       
,committee1 & :i* are submitt$ by an    
entity2  7#e7 provide recomm5dations to 
! ,bo>d & place project proposals       
accept$ by ! ,executive ,committee on a 
li/ = consid]ation = f9ancial assi/ance 
f ! ,bo>d2  7#f7 recomm5d to ! ,bo>d !  
p]c5tage subsidy am\nt = an approv$     

application = an ,am]ican ,infra/ructure
 ,bond1 ) su* recomm5dation bas$ on !   
/r5g? ( ! relat$ infra/ructure project's
 ability to meet ! crit]ia describ$ "u  
section #aa & ! ability ( su* project to
 attract private inve/m5t 9 an          
infra/ructure project's e>ly developm5t 
/ages2  7#g7 provide te*nical assi/ance1
 includ+ public-private p>tn]%ip        
infra/ructure project value = money     
assessm5ts1 long-t]m economic b5efit    
projections1 & contract evaluations1 to 
entities receiv+ f9anc+ f ! ,bank &     
o!rwise implem5t decisions ( ! ,bo>d2 & 
7#h7 provide te*nical assi/ance to ,/ate
 & local gov]nm5ts :o wi% to h ! ,bank's
 approval to issue ,am]ican             
,infra/ructure bonds4  7g7 ,vacancy ,a  
vacancy 9 ! position ( ,,ceo & o!r      
executive (fic]s ( ! ,executive         
,committee %all be fill$ 9 ! mann] 9 :i*
 ! orig9al appo9tm5t 0 made4  7h7       
,comp5sation ,! comp5sation ( ! ,,ceo & 
o!r executive (fic]s ( ! ,executive     
,committee %all be det]m9$ by ! ,bo>d4  

7i7 ,removal ,! ,,ceo & o!r executive   
(fic]s ( ! ,executive ,committee may be 
remov$ at ! discretion ( a majority ( ! 
,bo>d4  7j7 ,t]m ,! ,,ceo & o!r         
executive (fic]s ( ! ,executive         
,committee %all s]ve a #f-ye> t]m & may 
be reappo9t$ 9 accordance ) ?is section4
  7k7 ,limitations ,! ,,ceo & o!r       
executive (fic]s ( ! ,executive         
,committee %all n--  7#a7 hold any o!r  
public (fice2  7#b7 h any int]e/ 9 an   
infra/ructure project consid]$ by !     
,bo>d2  7#c7 h any int]e/ 9 an inve/m5t 
in/itution1 comm]cial bank1 or o!r      
entity seek+ f9ancial assi/ance = any   
infra/ructure project f or inve/+ 9 !   
,bank2 &  7#d7 h any su* int]e/ dur+ !  
#b-ye> p]iod beg9n+ on ! date su* (fic] 
ceases to s]ve 9 su* capacity4  #h4     
,risk managem5t committee  7a7          
,e/abli%m5t ( risk managem5t committee  
,! ,bo>d %all e/abli% a risk managem5t  
committee consi/+ ( #e memb]s1 head$ by 
! *ief risk (fic]4  7b7 ,appo9tm5ts ,a  
majority ( ! ,bo>d %all h ! au?ority to 

appo9t & reappo9t ! ,,cro ( ! ,bank4    
7c7 ,functions2 duties  7#a7 ,9 g5]al ,!
 ,,cro %all h su* functions1 p[]s1 &    
duties z may be prescrib$ by "o or m ( !
 foll[+3 ,?is ,act1 ! bylaws ( ! ,bank1 
& ! ,bo>d4 ,! ,,cro %all report directly
 to ! ,bo>d4  7#b7 ,risk managem5t      
duties ,9 ord] to c>ry out ! purposes ( 
?is ,act1 ! risk managem5t committee    
%all--  7,a7 create f9ancial1 cr$it1 &  
op]ational risk managem5t guidel9es &   
policies to be adh]$ to by ! ,bank2     
7,b7 set guidel9es to ensure            
div]sification ( l5d+ activities by bo? 
geographic region & infra/ructure       
project type2  7,c7 create con=m+ /&>ds 
= all f9ancial assi/ance provid$ by !   
,bank2  7,d7 monitor f9ancial1 cr$it &  
op]ational exposure ( ! ,bank2 &  7,e7  
provide f9ancial recomm5dations to !    
,bo>d4  7d7 ,duty ) respect to ,am]ican 
,infra/ructure ,bonds ,! risk managem5t 
committee %all ensure t ! aggregate     
am\nt ( int]e/ subsidies provid$ =      
,am]ican ,infra/ructure ,bonds 9 a giv5 

cal5d> ye> d n exce$ an am\nt equal to  
#bh p]c5t ( int]e/ payable "u all su*   
bonds4  7e7 ,o!r risk managem5t (fic]s  
,! ,bo>d %all appo9t1 remove1 fix !     
comp5sation1 & def9e ! duties ( #d o!r  
risk managem5t (fic]s to s]ve on ! risk 
managem5t committee4  7f7               
,qualifications ,! ,,cro & o!r risk     
managem5t (fic]s %all h demon/rat$      
exp]i5ce & exp]tise 9 "o or m ( !       
foll[+3  7#a7 ,treasury & asset &       
liability managem5t4  7#b7 ,inve/m5t    
regulations4  7#c7 ,insurance4  7#d7    
,cr$it risk managem5t & cr$it           
evaluations4  7#e7 ,relat$ discipl9es4  
7g7 ,vacancy ,a vacancy 9 ! position (  
,,cro & o!r risk managem5t (fic]s ( !   
risk managem5t committee %all be fill$ 9
 ! mann] 9 :i* ! orig9al appo9tm5t 0    
made4  7h7 ,comp5sation ,! comp5sation (
 ! ,,cro & o!r risk managem5t (fic]s ( !
 risk managem5t committee %all be       
det]m9$ by ! ,bo>d4  7i7 ,removal ,!    
,,cro & o!r risk managem5t (fic]s ( !   
risk managem5t committee may be remov$  

at ! discretion ( a majority ( ! ,bo>d4 
7j7 ,t]m ,! ,,cro & o!r risk managem5t  
(fic]s ( ! risk managem5t committee %all
 s]ve a #f-ye> t]m & may be reappo9t$ 9 
accordance ) ?is section4  7k7          
,limitations ,! ,,cro & o!r risk        
managem5t (fic]s ( ! risk managem5t     
committee %all n--  7#a7 hold any o!r   
public (fice2  7#b7 h any int]e/ 9 an   
infra/ructure project consid]$ by !     
,bo>d2  7#c7 h any int]e/ 9 an inve/m5t 
in/itution1 comm]cial bank1 or o!r      
entity seek+ f9ancial assi/ance = any   
infra/ructure project f or inve/+ 9 !   
,bank2 &  7#d7 h any su* int]e/ dur+ !  
#b-ye> p]iod beg9n+ on ! date su* (fic] 
ceases to s]ve 9 su* capacity4  #i4     
,audit ,committee  7a7 ,9 g5]al ,! ,bank
 %all e/abli% an audit committee consi/+
 ( #e memb]s1 head$ by ! *ief compliance
 (fic] ( ! ,bank4  7b7 ,appo9tm5ts ,a   
majority ( ! ,bo>d %all h ! au?ority to 
appo9t & reappo9t ! ,,cco ( ! ,bank4    
7c7 ,functions2 duties ,! ,,cco %all h  
su* functions1 p[]s1 & duties z may be  

prescrib$ by "o or m ( ! foll[+3 ,?is   
,act1 ! bylaws ( ! ,bank1 & ! ,bo>d4 ,! 
,,cco %all report directly to ! ,bo>d4  
7d7 ,audit duties ,9 ord] to c>ry out ! 
purposes ( ! ,bank "u ?is ,act1 ! audit 
committee %all--  7#a7 provide int]nal  
controls & int]nal audit+ activities = !
 ,bank2  7#b7 ma9ta9 responsibility = ! 
acc\nt+ activities ( ! ,bank2  7#c7     
issue f9ancial reports ( ! ,bank2 &     
7#d7 complete reports ) outside auditors
 & public acc\ntants appo9t$ by ! ,bo>d4
  7e7 ,o!r audit (fic]s ,! ,bo>d %all   
appo9t1 remove1 fix ! comp5sation1 &    
def9e ! duties ( #d o!r audit (fic]s to 
s]ve on ! audit committee4  7f7         
,qualifications ,! ,,cco & o!r audit    
(fic]s %all h demon/rat$ exp]i5ce &     
exp]tise 9 "o or m ( ! foll[+3  7#a7    
,int]nal audit+4  7#b7 ,int]nal         
inve/igations4  7#c7 ,acc\nt+ practices4
  7#d7 ,f9anc+ practices4  7g7 ,vacancy 
,a vacancy 9 ! position ( ,,cco & o!r   
audit (fic]s ( ! audit committee %all be
 fill$ 9 ! mann] 9 :i* ! orig9al        

appo9tm5t 0 made4  7h7 ,comp5sation ,!  
comp5sation ( ! ,,cco & o!r audit (fic]s
 ( ! audit committee %all be det]m9$ by 
! ,bo>d4  7i7 ,removal ,! ,,cco & o!r   
audit (fic]s ( ! audit committee may be 
remov$ at ! discretion ( a majority ( ! 
,bo>d4  7j7 ,t]m ,! ,,cco & o!r audit   
(fic]s ( ! audit committee %all s]ve a  
#f-ye> t]m & may be reappo9t$ 9         
accordance ) ?is section4  7k7          
,limitations ,! ,,cco & o!r audit (fic]s
 ( ! audit committee %all n--  7#a7 hold
 any o!r public (fice2  7#b7 h any      
int]e/ 9 an infra/ructure project       
consid]$ by ! ,bo>d2  7#c7 h any int]e/ 
9 an inve/m5t in/itution1 comm]cial     
bank1 or o!r entity seek+ f9ancial      
assi/ance = any infra/ructure project f 
or inve/+ 9 ! ,bank2 &  7#d7 h any su*  
int]e/ dur+ ! #b-ye> p]iod beg9n+ on !  
date su* (fic] ceases to s]ve 9 su*     
capacity4  #aj4 ,p]sonnel ,! *airp]son (
 ! ,bo>d1 *ief executive (fic]1 *ief    
risk (fic]1 & *ief compliance (fic] %all
 appo9t1 remove1 fix ! comp5sation (1 & 

def9e ! duties ( su* qualifi$ p]sonnel  
to s]ve "u ! ,bo>d1 ,executive          
,committee1 risk managem5t committee1 or
 audit committee1 z ! case may be1 z    
necess>y & prescrib$ by "o or m ( !     
foll[+3 ,?is ,act1 ! bylaws ( ! ,bank1 &
 ! ,bo>d4  #aa4 ,eligibility crit]ia =  
assi/ance f ,bank  7a7 ,9 g5]al ,any    
entity propos+ a project = :i* ! use or 
purpose is private & )\t public b5efit  
%all n be eligible = f9ancial assi/ance 
f ! ,bank "u ?is ,act4 ,no f9ancial     
assi/ance %all be available f ! ,bank   
unless ! entity = su* assi/ance has     
demon/rat$ to ! satisfaction ( ! ,bo>d t
 ! project = :i* su* assi/ance is be+   
s\ght meets ! requirem5ts ( ?is ,act4   
7b7 ,e/abli%m5t ( project crit]ia  7#a7 
,9 g5]al ,consi/5t ) ! requirem5ts (    
subsections 7c7 & 7d71 ! ,bo>d %all     
approve--  7,a7 crit]ia = det]m9+       
eligibility = f9ancial assi/ance        
e/abli%$ by ! ,executive ,committee "u  
?is ,act2  7,b7 revisions to crit]ia =  
det]m9+ eligibility = f9ancial assi/ance

 e/abli%$ by ! ,executive ,committee "u 
?is ,act2  7,c7 ! weight giv5 to factors
 to be tak5 into acc\nt e/abli%$ by !   
,executive ,committee2  7,d7 disclosure 
& application proc$ures to be foll[$ by 
entities to nom9ate projects = assi/ance
 e/abli%$ by ! ,executive ,committee "u 
?is ,act2 &  7,e7 su* o!r crit]ia z !   
,bo>d may consid] to be appropriate = ! 
purposes ( c>ry+ out ?is ,act4  7#b7    
,factors to be tak5 into acc\nt  7,a7 ,9
 g5]al ,! ,executive ,committee %all    
conduct an analysis t takes into acc\nt 
! economic1 environm5tal1 & social      
b5efits1 & co/s ( ea* project "u        
consid]ation = f9ancial assi/ance "u ?is
 ,act1 prioritiz+ projects t contribute 
to economic gr[?1 lead to job creation1 
& are ( regional or national            
significance4  7,b7 ,crit]ia ,! crit]ia 
e/abli%$ pursuant to p>agraph 7#a77;,a7 
%all provide = ! consid]ation ( ! foll[+
 factors 9 consid]+ eligibility =       
f9ancial assi/ance "u ?is ,act3  7i7 ,! 
means by :i* developm5t ( !             

infra/ructure project "u consid]ation is
 be+ f9anc$1 includ+--  7,i7 ! t]ms &   
conditions & f9ancial /ructure ( !      
propos$ f9anc+2  7,,ii7 ! cr$it wor?9ess
 & /&+ ( ! project sponsors1 provid]s ( 
equity1 & c(9anci]s2  7,,iii7 ! f9ancial
 assumptions & projections on :i* !     
project is bas$2 &  7,,iv7 ! ext5t to   
:i* ! infra/ructure project maximizes   
inve/m5t f o!r s\rces4  7ii7 ,!         
likelihood t ! provision ( assi/ance by 
! ,bank w cause su* developm5t to proce$
 m promptly & ) l[] co/s = f9anc+ ?an   
w\ld be ! case )\t su* assi/ance4  7iii7
 ,! ext5t to :i* ! provision ( assi/ance
 by ! ,bank maximizes ! level ( private 
inve/m5t 9 ! infra/ructure project :ile 
provid+ a public b5efit4  7,c7 ,d$icat$ 
rev5ue s\rces ,any f9ancial assi/ance = 
an infra/ructure project %all be        
repayable1 9 :ole or 9 "p1 f d$icat$    
rev5ue s\rces t also secure !           
infra/ructure project obligations4  7,d7
 ,am\nt ( f9ancial assi/ance ,! am\nt ( 
f9ancial assi/ance "u ?is ,act %all n   

exce$ ! less] ( #ej p]c5t ( ! reasonably
 anticipat$ eligible infra/ructure      
project co/s4  7c7 ,public input ,9     
develop+ propos$ infra/ructure project  
crit]ia & conduct+ reviews (            
infra/ructure project crit]ia = ! ,bo>d1
 ! ,executive ,committee %all seek input
 f ! public includ+ views relat$ to--   
7#a7 ! weight giv5 to diff]5t factors to
 be tak5 into acc\nt2  7#b7 measur+ :e!r
 projects are meet+ approv$ crit]ia2 &  
7#c7 any o!r input consid]$ by !        
,executive ,committee & ! public = !    
purposes ( c>ry+ out ?is ,act4  7d7     
,factors = specific types ( projects    
7#a7 ,transportation infra/ructure      
projects ,= any transportation          
infra/ructure project1 ! ,bo>d %all     
consid] ! foll[+3  7,a7 ,job creation1  
includ+ work=ce developm5t = wom5 &     
m9orities1 responsible employm5t        
practices1 & t>get$ job tra9+ &         
employm5t opportunities = l[ income     
work]s4  7,b7 ,r$uction 9 gre5h\se      
gases4  7,c7 ,r$uction 9 surface & air  

traffic conge/ion4  7,d7 ,use ( sm>t    
toll+1 su* z vehicle miles travel$ &    
conge/ion pric+1 = highway1 road1 &     
bridge projects4  7,e7 ,increas$ access 
to transportation options4  7,f7        
,increas$ safety ( transportation sy/ems
 = motoriz$ & non-motoriz$ us]s4  7,g7  
,public heal? b5efits1 includ+ ! removal
 ( lead coat+s or o!r haz>d\s *emicals &
 mat]ials4  7,h7 ,r$uction 9 risk (     
/ructural failure ov] ! s]vice life ( ! 
project4  7#b7 ,environm5tal            
infra/ructure project ,= any            
environm5tal infra/ructure project1 !   
,bo>d %all consid] ! foll[+3  7,a7 ,job 
creation1 includ+ work=ce developm5t =  
wom5 & m9orities1 responsible employm5t 
practices1 & t>get$ job tra9+ &         
employm5t opportunities = l[ income     
work]s4  7,b7 ,public heal? b5efits1    
includ+ ! removal ( lead coat+s or o!r  
haz>d\s mat]ials4  7,c7 ,pollution      
r$uctions4  7,d7 ,r$uctions 9 gre5h\se  
gas4  7,e7 ,increas$ coa/al & inl& flood
 mitigation & protection4  7,f7         

,r$uction 9 risk ( /ructural failure ov]
 ! s]vice life ( ! project4  7#c7 ,en]gy
 infra/ructure project ,= any en]gy     
infra/ructure project1 ! ,bo>d %all     
consid] ! foll[+3  7,a7 ,job creation1  
includ+ work=ce developm5t = wom5 &     
m9orities1 responsible employm5t        
practices1 & t>get$ job tra9+ &         
employm5t opportunities = l[ income     
work]s4  7,b7 ,r$uction 9 gre5h\se gas4 
7,c7 ,exp&$ use ( r5ewable en]gy4  7,d7 
,developm5t ( a sm>t grid4  7,e7 ,en]gy 
effici5t build+1 h\s+1 & s*ool          
mod]nization1 includ+ r5ewable en]gy    
designat$ retr(its4  7,f7 ,9 any case 9 
:i* ! project is also a public h\s+     
project--  7i7 improvem5t ( ! physical  
%ape & lay\t2  7ii7 environm5tal        
improvem5t2 &  7iii7 mobility           
improvem5ts = resid5ts4  7,g7 ,public   
heal? b5efits includ+ ! removal ( lead  
coat+s or o!r haz>d\s *emicals &        
mat]ials4  7,h7 ,r$uction 9 risk (      
/ructural failure ov] ! s]vice life ( ! 
project4  7#d7 ,telecommunications ,=   

any telecommunications project1 ! ,bo>d 
%all consid] ! foll[+3  7,a7 ,job       
creation1 includ+ work=ce developm5t =  
wom5 & m9orities1 responsible employm5t 
practices1 & t>get$ job tra9+ &         
employm5t opportunities = l[ income     
work]s4  7,b7 ,! ext5t to :i* assi/ance 
exp&s or improves broadb& & wireless    
s]vices 9 rural & disadvantag$          
communities4  7e7 ,consid]ation (       
project proposals  7#a7 ,p>ticipation by
 o!r ag5cy p]sonnel ,consid]ation ( a   
project "u ?is section by ! ,executive  
,committee & ! ,bo>d %all be conduct$ ) 
p]sonnel on detail to ! ,bank f relevant
 ,f$]al ag5cies among individuals :o are
 famili> ) & exp]i5c$ 9 ! selection     
crit]ia = competitive infra/ructure     
projects4  7#b7 ,fees ,a fee may be *>g$
 = ! review ( any project proposal 9 su*
 am\nt z may be consid]$ appropriate by 
! ,executive ,committee approv$ by !    
,bo>d to cov] ! co/ ( su* review4  7f7  
,discretion ( bo>d ,consi/5t ) o!r      
provisions ( ?is ,act1 any det]m9ation (

 ! ,bo>d to provide assi/ance to any    
infra/ructure project1 & ! mann] 9 :i*  
su* assi/ance is provid$1 includ+ !     
t]ms1 conditions1 fees1 & *>ges %all be 
at ! sole discretion ( ! ,bo>d4  7g7    
,/ate & local p]mits requir$ ,!         
provision ( assi/ance by ! ,bo>d 9      
accordance ) ?is ,act %all n be deem$ to
 relieve any recipi5t ( assi/ance or !  
relat$ infra/ructure project ( any      
obligation to obta9 requir$ ,/ate &     
local p]mits & approvals4  7h7 ,annual  
report ,an entity receiv+ assi/ance f ! 
,bo>d %all make annual reports to !     
,bo>d on ! use ( any su* assi/ance1     
compliance ) ! crit]ia set =? 9 ?is     
section1 & a disclosure ( all entities )
 a developm5t1 own]%ip1 or op]ational   
int]e/ 9 a infra/ructure project assi/$ 
or propos$ to be assi/$ "u ?is ,act4    
#ab4 ,exemption f local taxation ,all   
bonds issu$ by ! ,bank1 & ! int]e/ on or
 cr$its ) respect to su* bonds1 %all n  
be subject to taxation by any ,/ate1    
c\nty1 municipality1 or local tax+      

au?ority4  #ac4 ,/atus & applicability (
 c]ta9 ,f$]al laws  7a7 ,compliance )   
,davis-,bacon ,act ,all labor]s &       
me*anics employ$ by contractors &       
subcontractors on infra/ructure projects
 fund$ directly by or assi/$ 9 :ole or 9
 "p by & ?r\gh ! ,bank pursuant to ?is  
,act %all be paid wages at rates n less 
?an ^? prevail+ on projects ( a "*      
simil> 9 ! locality z det]m9$ by !      
,secret>y ( ,labor 9 accordance )       
sub*apt] ,,iv ( *apt] #ca ( "p ,a (     
title #dj1 ,unit$ ,/ates ,code4 ,)      
respect to ! labor /&>ds specifi$ 9 ?is 
section1 ! ,secret>y ( ,labor %all h !  
au?ority & functions set =? 9           
,reorganization ,plan ,numb]$ #ad (     
#aiej 7#fd ,/at4 #abfg2 #e ,u4,s4,c4    
,app47 & section #cade ( title #dj1     
,unit$ ,/ates ,code4  7b7 ,no priority z
 a ,f$]al claim ,! priority e/abli%$ 9  
favor ( ! ,unit$ ,/ates by section #cgac
 ( title #ca1 ,unit$ ,/ates ,code1 %all 
n apply ) respect to any indebt$ness ( !
 ,bank4  7c7 ,employee protective       

arrangem5ts ,recipi5ts ( any f9ancial   
assi/ance au?oriz$ "u ?is ,act t funds  
public transportation capital projects1 
z def9$ 9 section #ecjb ( title #di1    
,unit$ ,/ates ,code1 mu/ comply ) !     
grant requirem5ts describ$ "u section   
#ecji ( su* title4  #ad4 ,compliance )  
c]ta9 dome/ic cont5t /atutes ,! f9anc+  
provid$ = an infra/ructure project %all 
be 9 accordance ) ! foll[+ /atutory     
provisions ( ! ,unit$ ,/ates ,code "u ! 
jurisdiction ( ! ,dep>tm5t (            
,transportation3 section #bdcje ( title 
#di1 ,unit$ ,/ates ,code 7,,amtrak71    
section #cac ( title #bc1 ,unit$ ,/ates 
,code 7,,fhwa71 section #ecbc7;j7 (     
title #di1 ,unit$ ,/ates ,code 7,,fta71 
section #bddje ( title #di1 ,unit$      
,/ates ,code 7,int]city ,rail ,pass5g]  
,corporation7 & sections #ejaja & #ejaje
 ( title #di1 ,unit$ ,/ates ,code       
7,,faa74  #ae4 ,use ( iron1 /eel1 &     
manufactur$ goods 9 infra/ructure       
projects  7a7 ,buy ,am]ica ,none ( !    
f9anc+ provid$ = by ! ,bank may be us$ =

 a public infra/ructure project unless  
all ( ! iron1 /eel1 & manufactur$ goods 
us$ = ! con/ruction1 alt]ation1         
ma9t5ance or repair ( ! project are     
produc$ 9 ! ,unit$ ,/ates4  7b7         
,exception ,subsection 7a7 %all n apply 
9 any case or category ( cases 9 :i* !  
,secret>y ( ! ,treasury f9ds t--  7#a7  
apply+ subsection 7a7 w\ld be inconsi/5t
 ) ! public int]e/2  7#b7 iron1 /eel1 & 
! relevant manufactur$ goods are n      
produc$ 9 ! ,unit$ ,/ates 9 suffici5t & 
reasonably available quantities & ( a   
satisfactory quality2 or  7#c7 inclusion
 ( iron1 /eel1 & manufactur$ goods      
produc$ 9 ! ,unit$ ,/ates w increase !  
co/ ( ! ov]all infra/ructure project by 
m ?an #be p]c5t4  7c7 ,publication (    
waiv]s ,if ! ,secret>y ( ! ,treasury    
det]m9es t x is necess>y to waive !     
application ( subsection 7a7 bas$ on a  
f9d+ "u subsection 7b71 ! ,treasury     
,secret>y %all publi% 9 ! ,f$]al ,regi/]
 a detail$ writt5 ju/ification z to :y !
 provision is be+ waiv$4  7d7           

,application ( section ,?is section %all
 be appli$ 9 a mann] consi/5t ) ! ,unit$
 ,/ates obligations "u int]national     
agreem5ts4  7e7 ,consultations ,!       
,secret>y ( ! ,treasury %all consult ) !
 ,bo>d & may consult ) ! ,secret>y (    
,transportation & o!r ,f$]al ,secret>ies
 & ,adm9i/rators :5 apply+ ?is section4 
#af4 ,audits2 reports to ,presid5t &    
,congress  7a7 ,acc\nt+ ,! books (      
acc\nt ( ! ,bank %all be ma9ta9$ 9      
accordance ) g5]ally accept$ acc\nt+    
pr9ciples & %all be subject to an annual
 audit by indep5d5t public acc\ntants   
appo9t$ by ! ,bo>d & ( nationally       
recogniz$ /&+4  7b7 ,reports  7#a7 ,bo>d
 ,! ,bo>d %all submit to ! ,presid5t &  
,congress1 )9 #ij days aft] ! la/ day ( 
ea* fiscal ye>1 a complete & detail$    
report ) respect to ! prec$+ fiscal ye>1
 sett+ =?--  7,a7 a summ>y ( ! ,bank's  
op]ations1 = su* prec$+ fiscal ye>2     
7,b7 a s*$ule ( ! ,bank's obligations   
out/&+ at ! end ( su* prec$+ fiscal ye>1
 ) a /atem5t ( ! am\nts issu$ & r$eem$  

or paid dur+ su* prec$+ fiscal ye>2 &   
7,c7 ! /atus ( infra/ructure projects   
receiv+ fund+ or o!r assi/ance pursuant 
to ?is ,act1 includ+ disclosure ( all   
entities ) a developm5t1 own]%ip1 or    
op]ational int]e/ 9 su* projects4  7#b7 
,,gao ,n lat] ?an #e ye>s aft] ! date ( 
enactm5t ( ?is ,act1 ! ,comptroll]      
,g5]al ( ! ,unit$ ,/ates %all submit to 
,congress a report evaluat+ activities (
 ! ,bank = ! fiscal ye>s cov]$ by !     
report t includes an assessm5t ( !      
impact & b5efits ( ea* fund$            
infra/ructure project1 includ+ a review 
( h[ effectively ea* project accompli%$ 
! goals prioritiz$ by ! ,bank's project 
crit]ia4  7c7 ,books & records  7#a7 ,9 
g5]al ,! ,bank %all ma9ta9 adequate     
books & records to support ! f9ancial   
transactions ( ! ,bank ) a description (
 f9ancial transactions & infra/ructure  
projects receiv+ fund+1 & ! am\nt (     
fund+ = ea* project ma9ta9$ on a        
publically accessible database4  7#b7   
,public comm5t p]iod ,! ,bank %all po/  

infra/ructure f9anc+ agreem5ts on !     
database provid+ #cj days = public      
comm5ts be=e provid+ f9al f9anc+ = !    
infra/ructure project4  7#c7 ,audits by 
! secret>y & ,,gao ,! books & records ( 
! ,bank %all be ma9ta9$ 9 accordance )  
recomm5d$ acc\nt+ practices & %all be   
op5 to inspection by ! ,secret>y & !    
,comptroll] ,g5]al ( ! ,unit$ ,/ates4   
#ag4 ,am]ican ,infra/ructure ,bond  7a7 
,9 g5]al ,9 ! case ( an ,am]ican        
,infra/ructure ,bond1 ! ,bank %all pay  
7contemporane\sly ) ea* int]e/ paym5t   
date "u su* bond7 to ! issu] ( su* bond 
7or to any p]son :o makes su* int]e/    
paym5ts on behalf ( ! issu]7 !          
applicable p]c5tage ( ! int]e/ payable  
"u su* bond on su* date4  7b7 ,am]ican  
,infra/ructure ,bond  7#a7 ,9 g5]al ,=  
purposes ( ?is section1 ! t]m ,am]ican  
,infra/ructure ,bond means any          
obligation 7o!r ?an a private activity  
bond7 if--  7,a7 ! int]e/ on su*        
obligation w\ld 7b = ?is section7 be    
excludable f gross income "u section    

#ajc ( ! ,int]nal ,rev5ue ,code ( #aihf2
  7,b7 su* obligation w\ld h be5 a      
qualifi$ bond "u section #ed;,,aa ( su* 
,code 7det]m9$ )\t reg>d to subp>agraphs
 7,b7 & 7,c7 ( subsection 7d77#a7 &     
subsection 7g77#b77;,b7 !re(72  7,c7 su*
 obligation is approv$ "u ! ,am]ican    
,infra/ructure ,bond program2 &  7,d7 ! 
issu] makes an irrevocable election to h
 ?is section apply4  7#b7 ,applicable   
rules ,= purposes ( apply+ p>agraph     
7#a7--  7,a7 = purposes ( section       
#adi7;b7 ( su* ,code1 an ,am]ican       
,infra/ructure ,bond %all n be treat$ z 
f$]ally gu>ante$ by reason ( ! subsidy  
provid$ "u subsection 7a72  7,b7 =      
purposes ( section #adh ( su* ,code1 !  
yield on an ,am]ican ,infra/ructure     
,bond %all be det]m9$ )\t reg>d to !    
subsidy provid$ "u subsection 7a72 &    
7,c7 a bond %all n be treat$ z an       
,am]ican ,infra/ructure ,bond if ! issue
 price has m ?an a de m9imis am\nt      
7det]m9$ "u rules simil> to ! rules (   
section #abgc7;a77#c7 ( su* ,code7 (    

premium ov] ! /at$ pr9cipal am\nt ( !   
bond4  7c7 ,int]e/ on bonds includ$ 9   
gross income ,= purposes ( ! ,int]nal   
,rev5ue ,code ( #aihf1 int]e/ on any    
,am]ican ,infra/ructure ,bond %all be   
includible 9 gross income4  7d7         
,def9itions ,= purposes ( ?is section-- 
7#a7 ,int]e/ paym5t date ,! t]m int]e/  
paym5t date means any date on :i* !     
hold] ( record ( ! ,am]ican             
,infra/ructure ,bond is entitl$ to a    
paym5t ( int]e/ "u su* bond4  7#b7      
,applicable p]c5tage ,! applicable      
p]c5tage ) respect to ! int]e/ subsidy  
provid$ = any bond "u ! ,am]ican        
,infra/ructure ,bond program %all be a  
p]c5tage recomm5d$ by ! ,executive      
,committee1 review$ by ! risk managem5t 
committee1 & approv$ by ! ,bo>d4  7e7   
,am]ican ,infra/ructure ,bond program   
7#a7 ,9 g5]al ,n lat] ?an #ahj days aft]
 ! date ( ! enactm5t ( ?is ,act1 !      
,bo>d1 9 consultation ) ! ,executive    
,committee1 risk managem5t committee1 & 
! ,secret>y ( ! ,treasury1 %all e/abli% 

an ,am]ican ,infra/ructure ,bond        
program1 "u :i* ! ,bo>d may--  7,a7     
approve bond issuances = purposes ( ?is 
section1 &  7,b7 assign an applicable   
p]c5tage ) respect to any bond s        
approv$4  7#b7 ,application ,issu]s may 
apply = ! approval ( a bond issuance =  
purposes ( ?is section1 & any su*       
application %all conta9 su* in=mation z 
! ,executive ,committee & ! risk        
managem5t committee may require 9 ord]  
to accept or reject an application & to 
assign an applicable p]c5tage to su*    
bond4  7#c7 ,crit]ia ,approval ( an     
application & ! applicable p]c5tage     
subsidy assign$ "u ! program %all be    
bas$ on ! ability ( ea* project to meet 
! crit]ia e/abli%$ "u section #h7;d74   
7#d7 ,limitations  7,a7 ,p] bond subsidy
 ,! applicable p]c5tage ) respect to any
 bond may n exce$ #dj p]c5t4  7,b7      
,aggregate subsidy limitation ,= any    
cal5d> ye>1 ! aggregate am\nt ( int]e/  
subsidies provid$ "u ?is section )      
respect to all ,am]ican ,infra/ructure  

,bonds %all n exce$ an am\nt equal to   
#bh p]c5t ( int]e/ payable "u all su*   
bonds4  #ah4 ,national ,infra/ructure   
,developm5t ,bank ,tru/ ,fund  7a7 ,9   
g5]al ,!re is e/abli%$ 9 ! ,treasury ( !
 ,unit$ ,/ates a tru/ fund to be kn[n z 
! ,national ,infra/ructure ,developm5t  
,bank ,tru/ ,fund consi/+ ( su* am\nts z
 may be appropriat$ to su* tru/ fund z  
provid$ 9 ?is section4  7b7 ,transf] to 
tru/ fund ,!re are h]eby appropriat$ to 
! ,national ,infra/ructure ,developm5t  
,bank ,tru/ ,fund su* am\nt z !         
,secret>y ( ! ,treasury e/imates is     
equival5t to ! tax receipts attributable
 to int]e/ payable "u ,am]ican          
,infra/ructure ,bonds4  7c7 ,exp5ditures
 f tru/ fund ,am\nts 9 ! ,national      
,infra/ructure ,developm5t ,bank ,tru/  
,fund %all be available1 z provid$ 9    
appropriation ,acts1 only = purposes ( !
 ,secret>y mak+ transf]s to ! ,national 
,infra/ructure ,developm5t ,bank =      
infra/ructure project assi/ance provid$ 
by ! ,bank "u ?is ,act4  #ai4           

,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$              
#e1jjj1jjj1jjj = ea* ( fiscal ye>s      
#bjad1 #bjae1 #bjaf1 #bjag1 & #bjah to  
capitalize ! ,bank & to rema9 available 
until exp5d$1 ( :i* n m ?an #be1jjj1jjj 
= ea* ( fiscal ye>s #bjad & #bjae1 & n m
 ?an #ej1jjj1jjj = ea* fiscal ye>       
!reaft]1 may be us$ = adm9i/rative co/s 
( ! ,bank4