,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #ebei  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #cj1 #bjad ,mr4 
,huffman introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,education & !
 ,work=ce  ,a ,,bill  ,to e/abli% ,/ate 
infra/ructure banks = education4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,inve/+ = ,tomorr['s ,s*ools ,act (     
#bjad4  #b4 ,/ate infra/ructure bank    
pilot program  7a7 ,e/abli%m5t  7#a7    
,coop]ative agreem5ts ,subject to !     
provisions ( ?is section1 ! ,secret>y ( 
! ,treasury1 9 consultation ) !         
,secret>y ( ,education1 may ent] into   
coop]ative agreem5ts ) ,/ates = !       
e/abli%m5t ( ,/ate infra/ructure banks &
 multi/ate infra/ructure banks = mak+   
loans--  7,a7 to local educational      
ag5cies = build+ or repair+ elem5t>y or 
second>y s*ools :i* provide free public 
education 7z su* t]ms are def9$ 9       
section #adaja ( ! ,elem5t>y & ,second>y
 ,education ,act ( #aife 7#bj ,u4,s4,c4 
#hhja772  7,b7 to public libr>ies =     

build+ or repair+ libr>y facilities2    
7,c7 to eligible *>t] s*ool entities =  
use = ! objective describ$ 9 section    
#ebbd7b7 ( su* ,act 7#bj ,u4,s4,c4      
#gbbc;c7#b77 consi/5t ) subp>t #b ( "p  
,b ( title ,v ( su* ,act 7#bj ,u4,s4,c4 
#gbbc et seq472 &  7,d7 to community    
le>n+ c5t]s to connect & improve broadb&
 s]vices4  7#b7 ,int]/ate compacts      
,congress grants cons5t to two or m ( ! 
,/ates1 ent]+ into a coop]ative agreem5t
 "u p>agraph 7#a7 ) ! ,secret>y ( !     
,treasury = ! e/abli%m5t ( a multi/ate  
infra/ructure bank1 to ent] into an     
int]/ate compact e/abli%+ su* bank 9    
accordance ) ?is section4  7b7 ,fund+ ,!
 ,secret>y ( ! ,treasury1 9 consultation
 ) ! ,secret>y ( ,education1 %all make  
grants to ,/ate infra/ructure banks &   
multi/ate infra/ructure banks 9 a ,/ate 
9 a coop]ative agreem5t "u subsection   
7a77#a7 to provide initial capital =    
loans provid$ "u ?is section4 ,ea* bank 
%all apply repaym5ts ( pr9cipal & int]e/
 on loans to ! mak+ ( additional loans4 

,! ,secret>y %all take f9al action on an
 application = a grant "u ?is subsection
 )9 #ij days ( ! date ( ! submission (  
su* application4  7c7 ,infra/ructure    
bank requirem5ts ,9 ord] to e/abli% an  
infra/ructure bank "u ?is section1 ea*  
,/ate e/abli%+ ! bank %all--  7#a7      
contribute1 at a m9imum1 9 ea* acc\nt ( 
! bank f non-,f$]al s\rces an am\nt     
equal to #be p]c5t ( ! am\nt ( ea*      
capitalization grant made to ! ,/ate &  
contribut$ to ! bank "u subsection 7b72 
7#b7 id5tify an op]at+ entity ( ! ,/ate 
z recipi5t ( ! grant if ! entity has !  
capacity to manage loan funds & issue   
debt in/rum5ts ( ! ,/ate = purposes (   
lev]ag+ ! funds2  7#c7 all[ su* funds to
 be us$ z res]ve = debt issu$ by ! ,/ate
 s long z proce$s are deposit$ 9 ! fund 
= loan purposes2  7#d7 ensure t inve/m5t
 income g5]at$ by funds contribut$ to an
 acc\nt ( ! bank w be--  7,a7 cr$it$ to 
! acc\nt2  7,b7 available = use 9       
provid+ loans to projects eligible =    
assi/ance f ! acc\nt2 &  7,c7 inve/$ 9  

,unit$ ,/ates ,treasury securities1 bank
 deposits1 or su* o!r f9anc+ in/rum5ts z
 ! ,secret>y may approve to e>n int]e/  
to enhance ! lev]ag+ ( projects assi/$  
by ! bank2  7#e7 ensure t any loan f !  
bank to an eligible *>t] s*ool entity1  
local educational ag5cy1 public libr>y1 
or community le>n+ c5t] w be> int]e/ at 
or bel[ ! l[e/ int]e/ rates be+ (f]$ =  
bonds ! income f :i* is exempt f ,f$]al 
taxation1 z det]m9$ by ! ,/ate1 to make 
! project t is ! subject ( ! loan       
feasible2  7#f7 ensure t repaym5t ( any 
loan f ! bank to an eligible *>t] s*ool 
entity1 local educational ag5cy1 public 
libr>y1 or community le>n+ c5t] w       
comm5ce n lat] ?an #a ye> aft] ! project
 has be5 complet$2  7#g7 ensure t ! t]m 
= repay+ any loan to an eligible *>t]   
s*ool entity1 local educational ag5cy1  
public libr>y1 or community le>n+ c5t] w
 n exce$ #cj ye>s aft] ! date ( ! fir/  
paym5t on ! loan "u p>agraph 7#e72  7#h7
 ensure t ! funds loan$ annually t are  
us$ "u subsection 7a77#a77;,c7 are      

limit$ to a p]c5tage ( ! total funds    
loan$ t does n exce$ ! p]c5tage (       
elem5t>y & second>y s*ool /ud5ts 9 !    
,/ate enroll$ 9 *>t] s*ools dur+ ! mo/  
rec5t s*ool ye> = :i* enrollm5t data are
 available2  7#i7 ensure t ! funds loan$
 annually "u subsection 7a77#a77;,d7 are
 us$ exclusively to connect & improve   
broadb& s]vices2 &  7#aj7 require ! bank
 to make an annual report to ! ,secret>y
 on its /atus & make su* o!r reports z !
 ,secret>y may require by guidel9es4    
7d7 ,=ms ( assi/ance f infra/ructure    
banks  7#a7 ,9 g5]al ,an infra/ructure  
bank e/abli%$ "u ?is section may make   
loans 9 an am\nt equal to all or "p ( ! 
co/ ( c>ry+ out a project eligible =    
assi/ance "u ?is section4  7#b7         
,applications = loans ,an application to
 an infra/ructure bank = a loan %all    
include--  7,a7 9 ! case ( a r5ovation  
project1 a description ( ea*            
ar*itectural1 civil1 /ructural1         
me*anical1 or electrical defici5cy to be
 correct$ ) funds "u a loan & !         

priorities to be appli$2  7,b7 a        
description ( ! crit]ia us$ by !        
applicant to det]m9e ! type ( corrective
 action necess>y = ! r5ovation ( a      
facility2  7,c7 a description (         
improvem5ts to be made & a co/ e/imate =
 ! improvem5ts2  7,d7 a description ( h[
 "w und]tak5 ) ! loan w promote !       
cons]vation ( en]gy1 wat]1 or wa/e2 &   
7,e7 su* o!r in=mation z ! infra/ructure
 bank may require4  ,an infra/ructure   
bank %all take f9al action on a complet$
 application submitt$ to x )9 #ij days  
aft] ! date ( its submission4  7#c7     
,crit]ia = loans ,9 consid]+            
applications = a loan to an eligible    
*>t] s*ool entity1 local educational    
ag5cy1 public libr>y1 or community le>n+
 c5t]1 an infra/ructure bank %all       
consid]--  7,a7 ! ext5t to :i* !        
eligible *>t] s*ool entity1 local       
educational ag5cy1 public libr>y1 or    
community le>n+ c5t] involv$ lacks !    
fiscal capacity1 includ+ ! ability to   
raise funds ?r\gh ! full use ( su*      

ag5cy's bond+ capacity & o!rwise1 to    
und]take ! project = :i* ! loan w\ld be 
us$ )\t ! loan2  7,b7 9 ! case ( a local
 educational ag5cy1 ! ?reat t !         
condition ( ! physical plant 9 ! project
 poses to ! safety & well-be+ ( /ud5ts2 
7,c7 ! demon/rat$ ne$ = ! con/ruction1  
recon/ruction1 or r5ovation bas$ on !   
condition ( ! facility 9 ! project2     
7,d7 ! age ( su* facility2 &  7,e7      
demon/rat$ ne$ to connect & improve     
broadb& s]vices 9 ! local community4    
7e7 ,qualify+ projects  7#a7 ,9 g5]al   
,subject to subsection 7a77#a71 a       
project is eligible = a loan f an       
infra/ructure bank if x is a project t  
consi/s (--  7,a7 ! con/ruction ( new   
elem5t>y or second>y s*ools to meet !   
ne$s impos$ by enrollm5t gr[?2  7,b7 !  
repair1 rebuild+1 or upgrad+ (          
classrooms or /ructures relat$ to       
academic le>n+1 includ+ ! repair ( leak+
 ro(s1 crumbl+ walls1 inadequate plumb+1
 poor v5tilation equipm5t1 & inadequate 
heat+ or light equipm5t2  7,c7 an       

activity to increase physical safety at 
! educational facility involv$2  7,d7 an
 activity to enhance ! educational      
facility involv$ to provide access =    
/ud5ts1 tea*]s1 & o!r individuals )     
disabilities2  7,e7 an activity to      
address environm5tal or heal? haz>ds at 
! educational facility involv$1 su* z   
poor v5tilation1 indoor air quality1 or 
light+2  7,f7 ! provision ( basic       
infra/ructure t facilitates educational 
te*nology1 su* z communications outlets1
 electrical sy/ems1 p[] outlets1 or a   
communication closet2  7,g7 "w t w br+  
an educational facility into con=mity ) 
! requirem5ts (--  7i7 environm5tal     
protection or heal? & safety programs   
m&at$ by ,f$]al1 ,/ate1 or local law if 
su* requirem5ts 7 n 9 effect :5 !       
facility 0 initially con/ruct$2 &  7ii7 
haz>d\s wa/e disposal1 treatm5t1 &      
/orage requirem5ts m&at$ by ! ,res\rce  
,cons]vation & ,recov]y ,act ( #aigf or 
simil> ,/ate laws2  7,h7 "w t w enable  
effici5t use ( available en]gy res\rces2

  7,i7 "w t w r$uce reliance on fossil  
fuels & exp& use ( sol> p[]1 w9d p[]1 & 
o!r r5ewable en]gy res\rces2  7,j7 "w to
 detect1 remove1 or o!rwise conta9      
asbe/os haz>ds 9 educational facilities2
  7,k7 "w to con/ruct new public libr>y 
facilities or repair or upgrade exi/+   
public libr>y facilities2  7,l7 "w to   
connect entities describ$ 9 subsection  
7a77#a7 to broadb& s]vices1 & to improve
 su* connections = su* entities2 or     
7,m7 measures design$ to r$uce or       
elim9ate human exposure to classroom    
noise & environm5tal noise pollution4   
7#b7 ,davis-bacon ,! wage requirem5ts ( 
! ,act ( ,m>* #c1 #aica 7ref]r$ to z !  
,davis-,bacon ,act1 #dj ,u4,s4,c4 #bgf;a
 et seq47 %all apply ) respect to       
individuals employ$ on ! projects       
describ$ 9 p>agraph 7#a74  7#c7 ,gre5   
practices ,an entity us+ a loan "u ?is  
section to fund a new con/ruction or    
r5ovation project describ$ 9 p>agraph   
7#a7 %all ensure t ! project is c]tifi$1
 v]ifi$1 or consi/5t ) ,/ate laws1      

regulations1 & any applicable provisions
 (--  7,a7 ! ,,le$ ,gre5 ,build+ ,rat+  
,sy/em2  7,b7 ,liv+ ,build+ ,*all5ge2   
7,c7 ! ,,*ps gre5 build+ rat+ program   
develop$ by ! ,collaborative = ,high    
,p]=mance ,s*ools2 or  7,d7 a program   
t--  7i7 has equival5t or m /r+5t /&>ds2
  7ii7 is adopt$ by ! ,/ate or ano!r    
jurisdiction ) au?ority ov] ! entity2 & 
7iii7 includes a v]ifiable me?od to     
demon/rate compliance ) su* program4    
7f7 ,supplem5tation ,any loan made by an
 infra/ructure bank %all be us$ to      
supplem5t & n supplant o!r ,f$]al1      
,/ate1 & local funds available4  7g7    
,limitation on repaym5ts ,not)/&+ any   
o!r provision ( law1 ! repaym5t ( a loan
 f an infra/ructure bank "u ?is section 
may n be cr$it$ t[>ds ! non-,f$]al %>e (
 ! co/ ( any project4  7h7 ,secret>ial  
requirem5ts ,9 adm9i/]+ ?is section1 !  
,secret>y ( ! ,treasury %all specify    
proc$ures & guidel9es = e/abli%+1       
op]at+1 & provid+ assi/ance f an        
infra/ructure bank4  7i7 ,unit$ ,/ates n

 obligat$ ,! contribution ( ,f$]al funds
 into an infra/ructure bank e/abli%$ "u 
?is section %all n be con/ru$ z a       
commitm5t1 gu>antee1 or obligation on ! 
"p ( ! ,unit$ ,/ates to any ?ird p>ty1  
nor %all any ?ird p>ty h any "r aga9/ ! 
,unit$ ,/ates = paym5t solely by virtue 
( ! contribution4 ,any security or debt 
f9anc+ in/rum5t issu$ by ! infra/ructure
 bank %all expressly /ate t ! security  
or in/rum5t does n con/itute a          
commitm5t1 gu>antee1 or obligation ( !  
,unit$ ,/ates4  7j7 ,managem5t ( ,f$]al 
funds ,sections #ccce & #fejc ( title   
#ca1 ,unit$ ,/ates ,code1 %all n apply  
to funds contribut$ "u ?is section4  7k7
 ,program adm9i/ration ,= ea* ( fiscal  
ye>s #bjae ?r\gh #bjai1 a ,/ate may     
exp5d n to exce$ #b p]c5t ( ! ,f$]al    
funds contribut$ to an infra/ructure    
bank e/abli%$ by ! ,/ate "u ?is section 
to pay ! reasonable co/s ( adm9i/]+ !   
bank4  7l7 ,secret>ial review ,!        
,secret>y ( ! ,treasury %all review !   
f9ancial condition ( ea* infra/ructure  

bank e/abli%$ "u ?is section & transmit 
to ,congress a report on ! results ( su*
 review n lat] ?an #ij days aft] !      
completion ( ! review4  7m7             
,au?orization ( appropriations ,= grants
 to ,/ates = ! initial capitalization ( 
infra/ructure banks !re are au?oriz$ to 
be appropriat$ #ejj1jjj1jjj = fiscal ye>
 #bjae & = ea* ( ! #d succe$+ fiscal    
ye>s4  #c4 ,def9itions ,= purposes ( ?is
 ,act3  7#a7 ,community le>n+ c5t] ,!   
t]m community le>n+ c5t] has ! mean+    
giv5 su* t]m 9 section #dbja7;b77#a7 ( !
 ,elem5t>y & ,second>y ,education ,act (
 #aife 7#bj ,u4,s4,c4 #gaga7;b77#a774   
7#b7 ,eligible *>t] s*ool entity ,! t]m 
eligible *>t] s*ool entity means--  7,a7
 a *>t] s*ool 7z def9$ 9 section #ebaj (
 ! ,elem5t>y & ,second>y ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #gbba;i772 or   
7,b7 a develop] 7z s def9$7 t has appli$
 to an au?oriz$ public *>t]+ ag5cy 7z s 
def9$7 to op]ate a *>t] s*ool4  7#c7    
,local educational ag5cy  7,a7 ,! t]m   
local educational ag5cy means a public  

bo>d ( education or o!r public au?ority 
legally con/itut$ )9 a ,/ate = ei!r     
adm9i/rative control or direction (1 or 
to p]=m a s]vice function =1 public     
elem5t>y or second>y s*ools 9 a city1   
c\nty1 t[n%ip1 s*ool di/rict1 or o!r    
political subdivision ( a ,/ate1 or =   
su* comb9ation ( s*ool di/ricts or      
c\nties z are recogniz$ 9 a ,/ate z an  
adm9i/rative ag5cy = its public elem5t>y
 or second>y s*ools4  7,b7 ,! t]m       
includes any o!r public in/itution or   
ag5cy hav+ adm9i/rative control &       
direction ( a public elem5t>y or        
second>y s*ool4  7,c7 ,! t]m includes an
 elem5t>y or second>y s*ool fund$ by !  
,bureau ( ,indian ,affairs b only to !  
ext5t t su* inclusion makes su* s*ool   
eligible = programs = :i* specific      
eligibility is n provid$ to su* s*ool 9 
ano!r provision ( law & su* s*ool does n
 h a /ud5t population t is small] ?an ! 
/ud5t population ( ! local educational  
ag5cy receiv+ assi/ance "u ?is ,act ) ! 
smalle/ /ud5t population1 except t su*  

s*ool %all n be subject to !            
jurisdiction ( any ,/ate educational    
ag5cy o!r ?an ! ,bureau ( ,indian       
,affairs4  7#d7 ,outly+ area ,! t]m     
outly+ area means ! ,virg9 ,isl&s1      
,guam1 ,am]ican ,samoa1 ! ,commonweal? (
 ! ,nor!rn ,m>iana ,isl&s1 ! ,republic (
 ! ,m>%all ,isl&s1 ! ,f$]at$ ,/ates (   
,micronesia1 & ! ,republic ( ,palau4    
7#e7 ,public libr>y ,! t]m public libr>y
 means a libr>y t s]ves free ( *>ge all 
resid5ts ( a community1 di/rict1 or     
region1 & receives its f9ancial support 
9 :ole or 9 "p f public funds4 ,su* t]m 
also includes a rese>* libr>y1 :i*1 = ! 
purposes ( ?is s5t5ce1 means a libr>y   
t--  7,a7 makes its s]vices available to
 ! public free ( *>ge2  7,b7 has        
ext5sive collections ( books1           
manuscripts1 & o!r mat]ials suitable =  
s*ol>ly rese>* :i* are n available to ! 
public ?r\gh public libr>ies2  7,c7     
engages 9 ! dissem9ation ( humani/ic k  
?r\gh s]vices to read]s1 fell[%ips1     
educational & cultural programs1        

publication ( significant rese>*1 & o!r 
activities2 &  7,d7 is n an integral "p 
( an in/itution ( high] education4  7#f7
 ,/ate ,! t]m ,/ate means ea* ( ! #ej   
,/ates1 ! ,di/rict ( ,columbia1 !       
,commonweal? ( ,pu]to ,rico1 & ea* ( !  
outly+ areas4