,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #dagc  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #f1 #bjad ,ms4   
,hahn 7= h]self & ,mr4 ,gibson7         
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to e/abli% ! ,br[nfield        
,r$evelopm5t & ,economic ,developm5t    
,innovative ,f9anc+ program to promote  
urban r5ewal1 & = o!r purposes4  #a4    
,%ort title ,?is ,act may be cit$ z !   
,br[nfield ,r$evelopm5t & ,economic     
,developm5t ,innovative ,f9anc+ ,act (  
#bjad4  #b4 ,br[nfield ,r$evelopm5t &   
,economic ,developm5t ,innovative       
,f9anc+ ,program  7a7 ,e/abli%m5t &     
purpose ,! ,secret>y ( ,h\s+ & ,urban   
,developm5t1 9 consultation ) !         
,secret>y ( ! ,treasury1 %all e/abli% a 
program1 to be kn[n z ! ,br[nfield      
,r$evelopm5t & ,economic ,developm5t    
,innovative ,f9anc+ program1 "u :i* !   
,secret>y may gu>antee1 & make          
commitm5ts to gu>antee1 ! repaym5t (    
pr9cipal & int]e/ on loans made by l5d]s

 to local gov]nm5ts1 local r$evelopm5t  
ag5cies1 or ,,brac r$evelopm5t projects 
= ! purposes ( c>ry+ out projects =     
r$evelop+ br[nfields & promot+ urban    
r5ewal4  7b7 ,eligibility requirem5ts   
7#a7 ,application ,a local gov]nm5t1    
local r$evelopm5t ag5cy1 or ,,brac      
r$evelopm5t project %all be eligible to 
receive a loan gu>antee "u ! ,program   
only if su* gov]nm5t1 ag5cy1 or project 
submits to ! ,secret>y 7at su* "t & 9   
su* =m z ! ,secret>y may require7--     
7,a7 a ma/] plan t meets ! requirem5ts  
"u subsection 7c72  7,b7 a c]tification 
f ! ,environm5tal ,protection ,ag5cy1 or
 an entity designat$ by ! ,environm5tal 
,protection ,ag5cy1 t ! br[nfield to be 
r$evelop$ "u ! ma/] plan requires       
environm5tal rem$iation2 &  7,c7 any o!r
 in=mation z ! ,secret>y may require4   
7#b7 ,loan eligibility ,a loan may be   
gu>ante$ "u ! ,program only if ! loan   
meets ! foll[+ requirem5ts3  7,a7 ,use  
,su* loan %all be us$ = co/s ( c>ry+ out
 a project to r$evelop br[nfields &     

promote urban r5ewal1 :i* may include-- 
7i7 acquisition ( a br[nfield site2     
7ii7 rem$iation ( a br[nfield site2     
7iii7 relocation ( exi/+ facilities 9   
op]ation on ! r$evelopm5t site2 or  7iv7
 site prep>ation1 includ+ ! in/allation 
( utilities1 sew]s1 /orm dra9s1 &       
transportation facilities4  7,b7        
,contam9ation ,a local gov]nm5t1 local  
r$evelopm5t ag5cy1 or ,,brac r$evelopm5t
 project may n receive a loan gu>antee  
"u ! ,program if ! apply+ ag5cy 0       
responsible = contam9at+ a br[nfield to 
be r$evelop$ us+ su* loan4  7,c7 ,numb] 
( loans ,a local gov]nm5t1 local        
r$evelopm5t ag5cy1 or ,,brac r$evelopm5t
 project may n at any "t h m ?an "o     
out/&+ loan t is gu>ante$ "u ! ,program4
  7,d7 ,am\nt ( pr9cipal ,! orig9al     
pr9cipal am\nt ( su* loan %all n--  7i7 
be less ?an #be1jjj1jjj2 &  7ii7 exce$ !
 less] (--  7,i7 ! total co/ ( !        
r$evelopm5t project = :i* ! loan is to  
be us$2 or  7,,ii7 #aej1jjj1jjj4  7,e7  
,int]e/ rate ,su* loan %all be> int]e/  

at a rate negotiat$ betwe5 ! l5d] & !   
borr[]1 subject to any limitations t !  
,secret>y may e/abli%4  7,f7 ,duration  
,! t]m to maturity ( su* loan %all n be 
%ort] ?an #bj ye>s nor long] ?an #cj    
ye>s4  7,g7 ,repaym5t ,su* loan--  7i7  
%all n require any repaym5t ( pr9cipal  
or int]e/ )9 #aj ye>s aft] ! date t !   
l5d] makes ! loan to ! borr[]2 &  7ii7  
%all require t repaym5t %all beg9 n lat]
 ?an #ae ye>s aft] ! date t su* loan is 
made4  7c7 ,ma/] plan ,a ma/] plan "u   
?is subsection %all describe ! propos$  
br[nfield r$evelopm5t project = :i* !   
loan gu>antee is to be made1 & %all     
include--  7#a7 a description ( !       
project to be fund$ by ! loan1 includ+ a
 s*$ule ( activities to be und]tak5 & a 
budget = su* project2  7#b7 a           
demon/ration t ! br[nfield r$evelopm5t  
project w result 9 major r$evelopm5t1   
bas$ on economic developm5t &           
environm5tal quality & re/oration1 9 !  
community 9 :i* su* project is locat$1  
:i* %all include in=mation reg>d+--     

7,a7 ! ext5t ( non-,f$]al funds committ$
 to ! project2  7,b7 ! numb] ( long-t]m 
jobs creat$ by ! project2  7,c7 !       
environm5tal rem$iation ( br[nfield     
sites due to ! project2  7,d7 a         
description ( ! environm5tal & economic 
impact ( ! project on ! community2  7,e7
 ! am\nt ( af=dable h\s+ creat$ by !    
project2  7,f7 ! r$uction ( vehicle     
conge/ion & emissions expect$ to result 
f ! project2  7,g7 ! ext5t ( integration
 ( gre5 te*nology into developm5ts &    
build+s creat$ by ! project2  7,h7 !    
ext5t ( improvem5t 9 air quality expect$
 to result f ! project2 &  7,i7 ! ext5t 
to :i* complete /reets plann+ &         
transit-ori5t$ developm5t is incorporat$
 into ! project2  7#c7 evid5ce ( !      
commitm5ts ( inve/m5t f non-,f$]al      
entities1 e/abli%$ ?r\gh zon+ or o!r    
docum5tation2 &  7#d7 a rem$iation      
action plan t has be5 approv$ by !      
,environm5tal ,protection ,ag5cy1 or its
 designee4  7d7 ,selection crit]ia ,!   
,secret>y %all e/abli% crit]ia = select+

 local gov]nm5ts1 local r$evelopm5t     
ag5cies1 & ,,brac r$evelopm5t projects  
to receive loan gu>antees "u ! ,program4
 ,su* crit]ia %all take into            
consid]ation ! in=mation requir$ "u     
subsection 7c77#b74 ,su* crit]ia %all   
provide t exi/+ ,,brac r$evelopm5t      
projects hav+ exi/+ ,f$]al grants1      
loans1 or o!r assi/ance or commitm5ts = 
,f$]al grants1 loans1 or o!r assi/ance1 
%all be giv5 additional favorable       
consid]ation t[>d su* selection4  7e7   
,full fai? & cr$it ,! full fai? & cr$it 
( ! ,unit$ ,/ates is pl$g$ to ! paym5t (
 all gu>antees made "u ?is section4 ,any
 su* gu>antee made by ! ,secret>y %all  
be conclusive evid5ce ( ! eligibility ( 
! obligations = su* gu>antee ) respect  
to pr9cipal & int]e/1 & ! validity ( any
 su* gu>antee s made %all be            
inconte/able 9 ! h&s ( a hold] ( !      
gu>ante$ obligations4  7f7 ,protection  
aga9/ liability = environm5tal          
rem$iation ,! ,f$]al ,gov]nm5t %all n be
 liable "u ! ,compreh5sive ,environm5tal

 ,response1 ,comp5sation1 & ,liability  
,act ( #aihj 7#db ,u4,s4,c4 #ifja et    
seq47 or any o!r ,f$]al1 ,/ate1 or local
 law z a result ( a loan gu>antee made  
"u ?is section4  7g7 ,process+2 repaym5t
 & collat]al2 congressional ov]sight    
7#a7 ,process+ ,! ,secret>y %all        
consid]1 process1 & approve all reque/s 
= loan gu>antees "u ?is section us+ an  
approval process t is sub/antially      
id5tical to ! approval process us$ =    
loan gu>antees provid$ "u section #ajh (
 ! ,h\s+ & ,community ,developm5t ,act (
 #aigd 7#db ,u4,s4,c4 #ecjh74  7#b7     
,repaym5t s*$ule & collat]alization ,to 
be eligible = a loan gu>antee "u ?is    
section1 an applicant %all demon/rate a 
viable repaym5t s*$ule & %all provide   
suffici5t collat]al to ensure repaym5t (
 loans s gu>ante$1 :i* may be 9 ! =m ( a
 pl$ge ( grants = :i* ! applicant may   
become eligible "u title ,i ( ! ,h\s+ & 
,community ,developm5t ,act ( #aigd 7#db
 ,u4,s4,c4 #ecja et seq471 except t !   
,secret>y may n require a pl$ge ( su*   

grants z collat]al & %all provide =     
applicants to provide collat]al 9 o!r   
=ms1 at ! option ( ! applicant4  7#c7   
,congressional ov]sight ,be=e f9al      
approval ( any loan gu>antee "u ?is     
section1 ! ,secret>y %all notify !      
,committees on ,f9ancial ,s]vices &     
,appropriations ( ! ,h\se (             
,repres5tatives & ,committees on ,bank+1
 ,h\s+1 & ,urban ,affairs &             
,appropriations ( ! ,s5ate ( su*        
approval4  7h7 ,def9itions ,= purposes (
 ?is section ! foll[+ def9itions %all   
apply3  7#a7 ,,brac r$evelopm5t project 
,! t]m ,,brac r$evelopm5t project means 
a project to r$evelop a site t has be5  
designat$ z a ,base ,realignm5t &       
,closure ,site by ! ,secret>y ( ,def5se1
 ?r\gh ! ,def5se ,base ,closure &       
,realignm5t ,commission1 & is li/$ on ! 
website ( ! ,dep>tm5t ( ,def5se z su* a 
site4  7#b7 ,br[nfield ,! t]m br[nfield 
has ! mean+ giv5 su* t]m 9 section      
#aja7ci7 ( ! ,compreh5sive ,environm5tal
 ,response1 ,comp5sation1 & ,liability  

,act ( #aihj 7#db ,u4,s4,c4 #ifja7ci74  
7#c7 ,local r$evelopm5t ag5cy ,! t]m    
local r$evelopm5t ag5cy means any ag5cy1
 (fice1 or division ( a ,/ate gov]nm5t  
^: purpose includes improv+ blight$1    
det]iorat$1 or o!rwise economically     
depress$ areas4  7#d7 ,rem$iation action
 plan ,! t]m rem$iation action plan     
means1 ) respect to a br[nfield         
r$evelopm5t project1 a docum5t t        
describes h[ ! project site w be        
rem$iat$1 :at te*nology w be us$ to     
accompli% su* rem$iation1 & :5 !        
rem$iation actions w take place4  7#e7  
,program ,! t]m ,program means !        
,br[nfield ,r$evelopm5t & ,economic     
,developm5t ,innovative ,f9anc+ program 
e/abli%$ "u ?is section4  7#f7 ,secret>y
 ,! t]m ,secret>y means ! ,secret>y (   
,h\s+ & ,urban ,developm5t4  7i7        
,regulations ,n lat] ?an #f mon?s aft] !
 date ( enactm5t ( ?is section1 !       
,secret>y %all issue regulations z may  
be necess>y to c>ry out ! ,program4  7j7
 ,au?orization ( appropriations ,!re is 

au?oriz$ to be appropriat$ to !         
,secret>y #ajj1jjj1jjj = fiscal ye>     
#bjae = co/s 7z su* t]m is def9$ 9      
section #ejb ( ! ,f$]al ,cr$it ,re=m    
,act ( #aiij 7#b ,u4,s4,c4 #ffa;a77 (   
loans gu>ante$ "u ?is section1 :i*      
am\nts %all rema9 available ?r\gh fiscal
 ye> #bjai4