,,ii #aac? ,,congress #a/ ,session ,s4 #chg ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,febru>y #bf1 #bjac ,mr4 ,rockefell] 7= himself & ,mr4 ,laut5b]g7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ,a ,,bill ,to e/abli% ! ,am]ican ,infra/ructure ,inve/m5t ,fund & o!r activities to facilitate inve/m5ts 9 infra/ructure projects t significantly enhance ! economic competitiv5ess ( ! ,unit$ ,/ates by improv+ economic output1 productivity1 or competitive comm]cial advantage1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act4 7b7 ,table ( cont5ts ,! table ( cont5ts ( ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4 ,sec4 #b4 ,am]ican infra/ructure inve/m5t fund4 ,sec4 #c4 ,national infra/ructure inve/m5t grants4 #b4 ,am]ican infra/ructure inve/m5t fund 7a7 ,e/abli%m5t ( ,fund ,*apt] #c ( title #di1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 9 ! table ( sections1 by add+ at ! end ! foll[+3 ,,sub*apt] ,,iv--,am]ican ,infra/ructure ,inve/m5t ,fund #cfa4 ,def9itions4 #cfb4 ,e/abli%m5t ( ,fund4 #cfc4 ,organizational /ructure & duties4 #cfd4 ,fund au?orities & assi/ance4 #cfe4 ,/udies & reports4 2 & 7#b7 by add+ at ! end ! foll[+3 ,,iv ,am]ican ,infra/ructure ,inve/m5t ,fund #cfa4 ,def9itions ,9 ?is sub*apt]3 7#a7 ,bo>d ,! t]m ,bo>d means ! ,bo>d ( ,directors ( ! ,fund appo9t$ pursuant to section #cfc7;b74 7#b7 ,direct ,loan ,! t]m direct loan has ! mean+ giv5 ! t]m "u section #ejb7a7 ( ! ,congressional ,budget ,act ( #aigd 7#b ,u4,s4,c4 #ffa;a7#a774 7#c7 ,economic competitiv5ess ,! t]m economic competitiv5ess means ! ability ( ! economy to m effici5tly produce goods & deliv] s]vices1 includ+-- 7,a7 r$uctions 9 travel "t ( goods & p1 includ+ r$uctions 9 av]age delay or ! unc]ta9ty ( travel "t2 & 7,b7 net b5efits to society ?r\gh economic b5efits attributable to improv+ ! spatial clu/]+ ( economic activity4 7#d7 ,eligible project ,! t]m eligible project means a capital project t-- 7,a7 advances ! objectives ( ?is sub*apt]2 7,b7 is compris$ ( activities includ$ 9 a regional1 ,/ate1 or national plan1 ei!r at ! "t ( submission ( ! application or be=e ! obligation ( funds f ! ,fund2 7,c7 has eligible project co/s relat$ to a s+le project1 or has aggregate eligible project co/s relat$ to a program ( projects t are coord9at$ to a*ieve a unifi$ improvem5t2 & 7,d7 is a transportation-relat$ project4 7#e7 ,eligible fund+ recipi5t ,! t]m eligible fund+ recipi5t-- 7,a7 means an entity t has receiv$ a f9anc+ aw>d f ! ,fund2 7,b7 %all be-- 7i7 a non-,f$]al gov]nm5tal entity1 ag5cy1 or in/rum5tality2 or 7ii7 a nongov]nm5tal entity1 su* z a corporation1 p>tn]%ip1 jo9t v5ture1 or o!r in/rum5tality1 t seeks fund+ = an eligible project2 & 7,c7 %all h a non-,f$]al gov]nm5tal cosponsor ( ! project if x is a non-gov]nm5tal entity4 7#f7 ,eligible project co/ ,! t]m eligible project co/-- 7,a7 includes co/s associat$ ) developm5t phase plann+ & design activities1 con/ruction1 acquisition1 rehabilitation1 environm5tal rem$iation1 int]e/ exp5se dur+ con/ruction or recon/ruction1 & reasonable requir$ res]ves2 & 7,b7 excludes op]at+ co/s1 rese>* & developm5t co/s1 & any o!r co/s n o!rwise specifically provid$ = 9 subp>agraph 7,a74 7#g7 ,executive director ,! t]m ,executive ,director means ! ,executive ,director ( ! ,fund appo9t$ pursuant to section #cfc7;a77#a74 7#h7 ,fund ,! t]m ,fund means ! ,am]ican ,infra/ructure ,inve/m5t ,fund ( ! ,dep>tm5t ( ,transportation e/abli%$ "u section #cfb4 7#i7 ,inve/m5t plan ,! t]m inve/m5t plan means a writt5 mutual agreem5t betwe5 ! ,fund & an applicant t outl9es ! prospective t]ms ( f9ancial assi/ance to be inve/$ by ! ,fund4 7#aj7 ,l9e ( cr$it ,! t]m l9e ( cr$it means an agreem5t ent]$ into betwe5 ! ,fund & an eligible fund+ recipi5t to provide a direct loan at a future date ^u ! occurr5ce ( c]ta9 ev5ts4 7#aa7 ,loan gu>antee ,! t]m loan gu>antee has ! mean+ giv5 ! t]m "u section #ejb7c7 ( ! ,congressional ,budget ,act ( #aigd 7#b ,u4,s4,c4 #ffa;a7#c774 7#ab7 ,op]at+ guidance ,! t]m ,op]at+ ,guidance means ! detail$ description ( ! ,fund's op]at+ policies & proc$ures t has be5 publi%$ 9 accordance ) ?is sub*apt]4 7#ac7 ,qualifi$ application ,! t]m ,qualifi$ ,application means an application t ! ,executive ,director has c]tifi$ to h met eligibility & qualification /&>ds "u ?is sub*apt]4 7#ad7 ,rural ,! t]m rural means all population & t]ritory t are n )9 an ,urbaniz$ ,area 7z su* t]m is def9$ 9 ! mo/ rec5t dec5nial ,unit$ ,/ates c5sus74 7#ae7 ,secret>y ,except z o!rwise specifi$1 ! t]m ,secret>y means ! ,secret>y ( ,transportation4 7#af7 ,transportation-relat$ project ,! t]m transportation-relat$ project means a project t is "p (1 or relat$ to1 a transportation improvem5t1 includ+ projects relat$ to ! con/ruction or improvem5t (-- 7,a7 a pass5g] or freight rail l9e2 7,b7 a highway2 7,c7 a bridge2 7,d7 an airport2 7,e7 an air traffic control sy/em2 7,f7 a port or m>9e facility2 7,g7 an inl& wat]way2 7,h7 a transmission or di/ribution pipel9e2 7,i7 public transportation facilities or sy/ems2 7,j7 int]city pass5g] bus or pass5g] rail facilities or equipm5t2 or 7,k7 freight rail facilities or equipm5t4 #cfb4 ,e/abli%m5t ( ,fund 7a7 ,e/abli%m5t ,!re is e/abli%$ 9 ! ,dep>tm5t ( ,transportation an entity to be kn[n z ! ,am]ican ,infra/ructure ,inve/m5t ,fund4 7b7 ,objectives ,! prim>y objective ( ! ,fund %all be-- 7#a7 to inve/ 9 infra/ructure projects t provide measurable improvem5ts to ! economic competitiv5ess ( all or "p ( ! ,unit$ ,/ates by increas+ or o!rwise improv+ economic output1 productivity1 or competitive comm]cial advantage2 7#b7 to provide fund+ = projects t face significant fund+ b>ri]s due to problems associat$ ) ! ne$ to comb9e res\rces across multiple jurisdictions or modes ( transportation2 7#c7 to improve ! effici5cy or ?r\ghput ( a national or regional transportation network by-- 7,a7 improv+ ! integration betwe5 networks2 or 7,b7 improv+ ! condition1 p]=mance1 or long-t]m co/ /ructure ( exi/+ infra/ructure2 7#d7 to improve ! safety ( transportation facilities & sy/ems1 z measur$ by ! r$uction 9 risk ( transportation-relat$ cra%es1 injuries1 or dea?s2 & 7#e7 to improve ! environm5tal su/a9ability ( a national or regional transportation network1 z measur$ by-- 7,a7 improvem5t 9 en]gy effici5cy2 7,b7 r$uction 9 gre5h\se gas & o!r h>mful emissions2 7,c7 cons]vation ( natural res\rces2 7,d7 improvem5t 9 wat] quality2 7,e7 improvem5t 9 infra/ructure resili5ce to environm5tal haz>ds & natural disa/]s2 & 7,f7 o!r b5eficial environm5tal impacts4 7c7 ,/rategy 7#a7 ,9 g5]al ,! ,fund %all advance ! objectives set =? 9 subsection 7b7 by provid+ f9ancial assi/ance = individual projects or programs ( relat$ projects id5tifi$ 9 ,/ate1 regional1 or national plans & design$ to significantly improve national or regional economic competitiv5ess4 7#b7 ,project portfolio ,! ,fund %all-- 7,a7 t>get projects or programs ( relat$ projects ) a demon/rat$ difficulty 9 obta9+ complete f9anc+ ?r\gh o!r available public or private s\rces ( funds1 = reasons includ+ project complexity1 modes1 or o!r comp>able transactional b>ri]s2 7,b7 seek to id5tify appropriate ,inve/m5t ,plans = select$ projects & programs ( projects2 & 7,c7 use ,fund res\rces to build a portfolio ( trans=mational inve/m5ts t-- 7i7 promotes great] effici5cy 9 ! movem5t ( freight or ! provision ( s]vices2 7ii7 promotes great] effici5cy 9 ! movem5t ( p2 7iii7 integrates multiple transportation modes 9 ! movem5t ( pass5g]s or freight2 7iv7 promotes ! use ( innovation & be/ practices 9 ! plann+1 design1 developm5t1 & deliv]y ( projects1 includ+ practices t promote p]=mance-bas$ decision mak+ to a*ieve national1 ,/ate1 or regional objectives2 7v7 promotes cross-jurisdictional infra/ructure plann+ & co9ve/m5t among a broad range ( p>ticipants1 includ+ ,/ates1 tribal gov]nm5ts1 municipalities1 & public & private inve/ors2 & 7vi7 integrates transportation infra/ructure inve/m5t plann+1 su* z regional transportation plans1 ) l&-use economic developm5t & o!r infra/ructure ,inve/m5t ,plans4 7#c7 ,inve/m5t prospectus 7,a7 ,publication ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 ! ,fund %all publi% a detail$ description ( its /rategy 9 an ,inve/m5t ,prospectus t-- 7i7 specifies :at w be consid]$ significant to ! economic competitiv5ess ( all or "p ( ! ,unit$ ,/ates 9 a mann] consi/5t ) ! prim>y objective set =? 9 subsection 7b77#a72 7ii7 specifies ! priorities & /rategic focus ( ! ,fund 9-- 7,i7 rea*+ ! objectives set =? 9 subsection 7b72 & 7,,ii7 c>ry+ out ! ,fund /rategy describ$ 9 ?is subsection2 7iii7 describes 9 detail-- 7,i7 ! framework & me?odology = calculat+ ! qualification score assign$ "u section #cfd7;f77#c72 7,,ii7 ! data to be reque/$ f applicants2 & 7,,iii7 ! =mula to be appli$ to su* data to calculate ! qualification score2 7iv7 describes h[ selection crit]ia w be appli$ by ! ,fund to det]m9e ! competitiv5ess ( an application & its qualification score relative to o!r curr5t applications & previ\sly fund$ applications2 & 7v7 describes h[ ! qualification score me?odology & project selection framework are consi/5t ) maximiz+ ! ,fund's goals 9 urban & rural areas4 7,b7 ,updates ,n lat] ?an #b ye>s aft] ! orig9al publication ( ! ,inve/m5t ,prospectus1 & bi5nially !reaft]1 ! ,fund %all publi% an updat$ ,inve/m5t ,prospectus4 7,c7 ,approval ,! ,fund may n publi% ! ,inve/m5t ,prospectus or any subsequ5t updates "u subp>agraph 7,b7 until ! ,bo>d has approv$ ! ,inve/m5t ,prospectus by a majority vote4 7#d7 ,op]at+ guidance 7,a7 ,publication ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 ! ,fund %all e/abli% & publi% its ,op]at+ ,guidance = ! managem5t ( ! ,fund1 :i* %all-- 7i7 e/abli% g5]al op]at+ proc$ures to be foll[$ by ! ,fund 9 c>ry+ out its au?orities "u ?is sub*apt]2 7ii7 e/abli% crit]ia1 requirem5ts1 & /&>ds reg>d+ ! provisions ( v>i\s =ms ( assi/ance au?oriz$ "u ?is sub*apt]1 includ+ ! v>i\s =ms & t]ms ( cr$it assi/ance t are consi/5t ) ! requirem5ts "u ?is sub*apt]2 7iii7 e/abli% an application & aw>d process = ,plann+ & ,feasibility ,loans 9 accordance ) ! provisions "u ?is sub*apt]2 7iv7 e/abli% disclosure & application proc$ures = nom9at+ or o!rwise propos+ applications = project assi/ance1 ei!r solicit$ or unsolicit$1 t are consi/5t ) ! requirem5ts "u ?is sub*apt]2 7v7 describe 9 detail ! =m & tim+ ( data & o!r in=mation requir$ ( applicants 9 conjunction ) consid]ation ( an application = f9ancial assi/ance "u ?is sub*apt]2 & 7vi7 e/abli% a s*$ule ( regul> "t int]vals = ! submission = consid]ation ( sets ( #a or m ,inve/m5t ,plans to ! ,bo>d4 7,b7 ,review & update ,! ,fund %all p]iodically review1 & may update1 ! ,op]at+ ,guidance publi%$ "u subp>agraph 7,a74 7#e7 ,rulemak+ ,p>agraphs 7#c7 & 7#d7 %all be c>ri$ out 9 accordance ) ! rulemak+ proc$ures set =? 9 section #eec ( title #e1 ,unit$ ,/ates ,code4 #cfc4 ,organizational /ructure & duties 7a7 ,executive ,director 7#a7 ,appo9tm5t2 au?ority ,! ,presid5t %all appo9t1 by & ) ! advice & cons5t ( ! ,s5ate1 an ,executive ,director1 :o %all be ! *ief executive (fic] ( ! ,fund1 & %all h su* executive functions1 p[]s1 & duties z set =? 9 ?is sub*apt] or prescrib$ by ! ,bo>d4 7#b7 ,sup]vision ,! ,executive ,director %all be subject to ! sup]vision & direction ( ! ,secret>y ( ,transportation1 consi/5t ) ! ,executive ,director's duties "u ?is sub*apt] & o!r requirem5ts set =? 9 ! ,op]at+ ,guidance ref]r$ to 9 section #cfb7;c77#d74 7#c7 ,qualifications ,! ,executive ,director %all h demon/rat$ exp]tise 9 at lea/ #b ( ! foll[+ #c areas3 7,a7 ,economic analysis4 7,b7 ,project1 public1 or corporate f9ance4 7,c7 ,organizational managem5t4 7#d7 ,t]m ( s]vice2 vacancy ,! ,executive ,director %all s]ve a #e-ye> t]m1 :i* may be r5ew$ 9 accordance ) p>agraph 7#a74 ,a vacancy 9 ! position ( ,executive ,director %all be fill$ z exp$iti\sly z possible 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7#e7 ,duties ,9 addition to ! o!r activities requir$ to c>ry out ! au?orities & purposes ( ! ,fund "u ?is sub*apt]1 ! ,executive ,director %all-- 7,a7 be responsible = ! day-to-day op]ations ( ! ,fund2 7,b7 e/abli% & approve ! ,op]at+ ,guidance 9 accordance ) section #cfb7;c77#d72 7,c7 e/abli% & ma9ta9 a project application orig9ation capability at ! ,fund t consi/s ( a /aff ( qualifi$ transportation infra/ructure plann+ pr(essionals2 7,d7 e/abli% & ma9ta9 an analysis capability at ! ,fund t consi/s ( a /aff ( qualifi$ economics pr(essionals direct$ to collect application data1 analyze t data1 & report to ! ,executive ,director on qualification scores & ranges1 measures ( unc]ta9ty1 & o!r analyses ( applications2 7,e7 e/abli% & ma9ta9 an inve/m5t plann+ process capability at ! ,fund t consi/s ( a /aff ( qualifi$ project f9ance pr(essionals direct$ to review qualifi$ applications & to /ructure ,inve/m5t ,plans2 & 7,f7 e/abli% & ma9ta9 a te*nical assi/ance capability at ! ,fund t consi/s ( a /aff ( qualifi$ project managem5t pr(essionals direct$ to assi/ ^? entities receiv+ fund+ f ! ,fund 9 ! successful execution ( _! ,inve/m5t ,plans & to o!rwise implem5t ! fund+ decisions ( ! ,secret>y4 7#f7 ,o!r au?ority ,! ,executive ,director %all h ! au?ority to hire contractors to e/abli% & ma9ta9 ! exp]tise z describ$ 9 p>agraph 7#e74 7#g7 ,comp5sation ,! ,executive ,director %all be a position comp5sat$ on ! ,g5]al ,executive ,s*$ule4 7b7 ,bo>d ( ,directors 7#a7 ,e/abli%m5t ,!re is e/abli%$ )9 ! ,fund a delib]ative body to be kn[n z ! ,bo>d ( ,directors4 7#b7 ,memb]%ip ,! ,bo>d %all be compos$ ( #h memb]s1 includ+-- 7,a7 ! ,secret>y ( ! ,treasury1 ! ,secret>y ( ,comm]ce1 ! ,secret>y ( ,en]gy1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 & ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 :o %all s]ve z p]man5t memb]s2 & 7,b7 #c executives ( ! ,dep>tm5t ( ,transportation appo9t$ by ! ,secret>y1 ( :om-- 7i7 n m ?an #a %all s]ve concurr5tly z-- 7,i7 ! ,deputy ,secret>y2 7,,ii7 ! ,"u ,secret>y ( ,transportation = ,policy2 7,,iii7 ! ,g5]al ,c\nsel2 7,,iv7 ! ,*ief ,f9ancial ,(fic]2 7,v7 ! ,assi/ant ,secret>y ( ,transportation = ,policy2 or 7,,vi7 ! ,assi/ant ,secret>y ( ,transportation = ,aviation & ,int]national ,affairs2 & 7ii7 n m ?an #b %all s]ve = n long] ?an #b ye>s1 :ile concurr5tly s]v+ z-- 7,i7 ! ,adm9i/rator ( ! ,f$]al ,aviation ,adm9i/ration2 7,,ii7 ! ,adm9i/rator ( ! ,f$]al ,highway ,adm9i/ration2 7,,iii7 ! ,adm9i/rator ( ! ,f$]al ,railroad ,adm9i/ration2 7,,iv7 ! ,adm9i/rator ( ! ,f$]al ,transit ,adm9i/ration2 7,v7 ! ,adm9i/rator ( ! ,m>itime ,adm9i/ration2 7,,vi7 ! ,adm9i/rator ( ! ,pipel9e & ,haz>d\s ,mat]ials ,safety ,adm9i/ration2 or 7,,vii7 ! ,adm9i/rator ( ! ,f$]al ,motor ,c>ri] ,safety ,adm9i/ration4 7#c7 ,duties ,! ,bo>d %all-- 7,a7 n lat] ?an #ahj days aft] ! date ( enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 e/abli% & approve ! ,inve/m5t ,prospectus1 9 consultation ) ! ,fund ,advisory ,committee2 7,b7 on ea* bi5nial anniv]s>y ( its orig9al publication1 update ! ,inve/m5t ,prospectus1 9 consultation ) ! ,fund ,advisory ,committee2 7,c7 review ,inve/m5t ,plans1 relat$ application mat]ials1 & o!r analyses provid$ to ! ,bo>d by ! ,executive ,director2 7,d7 det]m9e by majority vote :e!r or n to recomm5d ,inve/m5t ,plans submitt$ by ! ,executive ,director to ! ,secret>y2 & 7,e7 c]tify reports to ,congress & o!r publications ( ! ,fund4 7#d7 ,majority vote requir$ ,ea* action or decision by ! ,bo>d %all be by majority vote ( all memb]s1 :e!r 9 p]son or 9 abs5tia4 ,ea* memb] %all be provid$ a reasonable opportunity to vote on all matt]s be=e ! ,bo>d4 7c7 ,fund ,advisory ,committee 7#a7 ,e/abli%m5t ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 ! ,presid5t %all e/abli% an advisory committee1 to be kn[n z ! ,fund ,advisory ,committee4 7#b7 ,memb]%ip 7,a7 ,appo9tm5t ,! ,presid5t %all appo9t n few] ?an #e p & n m ?an #g p to s]ve #c-ye> t]ms z memb]s ( ! ,fund ,advisory ,committee1 includ+ #a memb] to s]ve z ,*air ( ! ,committee4 7,b7 ,qualifications ,ea* memb] %all h exp]tise 9-- 7i7 economics & economic analysis2 7ii7 project or fund managem5t2 7iii7 portfolio or fund managem5t2 7iv7 organiz$ labor int]e/s2 7v7 environm5tal int]e/s2 7vi7 ,am]ican bus9ess & trade int]e/s2 7vii7 rural community & economic developm5t2 7viii7 metropolitan economic developm5t & clu/]+ ( economic developm5t2 7ix7 ,/ate ,dep>tm5t ( ,transportation or ,metropolitan ,plann+ ,organization policies & priorities2 or 7x7 o!r infra/ructure plann+1 r$evelopm5t1 & developm5t-relat$ codes & policies4 7,c7 ,repres5tation ,! ,presid5t %all ensure t ! memb]%ip ( ! ,fund ,advisory ,committee-- 7i7 is bip>tisan2 7ii7 is geographically & economically balanc$2 & 7iii7 is balanc$ 9 t]ms ( ! functions to be p]=m$ by ! ,fund ,advisory ,committee4 7#c7 ,advice ,! ,fund ,advisory ,committee %all advise ! ,bo>d & ! ,secret>y ) respect to-- 7,a7 ! alignm5t ( ! ,inve/m5t ,prospectus ) ! prim>y & second>y objectives1 & o!r elem5ts ( ! ,fund /rategy describ$ 9 section #cfb7;c72 7,b7 ! alignm5t ( ! framework & me?odology us$ to det]m9e qualification scores & unc]ta9ty e/imates ) ! prim>y objective1 second>y objectives1 & ! ,fund /rategy2 7,c7 ! consi/5cy ( ! calculation ( qualification scores & unc]ta9ty e/imates ) academic /&>ds = analytical rigor & data quality typically appli$ to pe]-review$ rese>*2 7,d7 ! alignm5t ( inve/m5t decision me*anics & outcomes ) ! ,inve/m5t ,prospectus & ! requirem5ts "u ?is sub*apt]2 7,e7 ! integrity & effectiv5ess ( ,fund op]ations & p]=mance1 includ+ application evaluation processes1 ,inve/m5t ,plan processes & det]m9ations1 & ! optimization ( ! ,fund's p]=mance z a portfolio2 & 7,f7 prospects = ! ext5sion ( ! ,fund's activities to nontransportation infra/ructure sectors likely to b5efit ! ,unit$ ,/ates1 includ+ r5ewable en]gy g5]ation1 en]gy transmission & /orage1 en]gy effici5cy1 dr9k+ wat] & wa/ewat] sy/ems1 & telecommunications4 7#d7 ,applicability ( ,,faca ,! ,fund ,advisory ,committee %all be subject to ! ,f$]al ,advisory ,committee ,act 7#e ,u4,s4,c4 ,app474 #cfd4 ,fund au?orities & assi/ance 7a7 ,agreem5ts ) o!r organizations ,! ,fund may-- 7#a7 ent] into an agreem5t ) any organization )9 ! ,dep>tm5t ( ,transportation to obta9 necess>y te*nical exp]tise & assi/ance2 & 7#b7 reque/ any ,f$]al ag5cy to detail employees to ! ,fund = purposes ( c>ry+ out its duties "u ?is sub*apt]4 7b7 ,fees = s]vices 7#a7 ,adm9i/rative fees ,! ,fund may e/abli% & collect fees f eligible fund+ recipi5ts1 includ+ application & process+ fees & o!r fees associat$ ) ! co/s ( loan s]vic+1 at a level suffici5t to cov] all or a portion ( ! adm9i/rative co/s to ! ,f$]al ,gov]nm5t ( provid+ fund+ assi/ance & s]vic+ ! cr$it in/rum5ts ent]$ into "u ?is sub*apt]4 7#b7 ,o!r fees ,! ,fund may e/abli% & collect fees f eligible fund+ recipi5ts at a level suffici5t to cov] all or a portion ( ! co/s ( exp]t firms1 includ+ c\nsel 9 ! field ( municipal & project f9ance1 & f9ancial advisors to assi/ ) und]writ+1 cr$it analysis1 or o!r indep5d5t reviews1 z appropriate4 7#c7 ,limitation ,! ,fund may n collect fees "u p>agraph 7#a7 or 7#b7 t orig9ate z a loan or a debt obligation gu>ante$ by ! ,f$]al ,gov]nm5t4 7#d7 ,availability ( am\nts ,am\nts collect$ "u p>agraphs 7#a7 & 7#b7 %all be available to be exp5d$ to c>ry out ! duties "u ?is sub*apt]4 7c7 ,plann+ & feasibility loans 7#a7 ,9 g5]al ,! ,fund may provide loans1 :i* may be =givable1 to eligible fund+ recipi5ts to fund activities relat$ to ! plann+1 prep>ation1 or design ( an eligible project proposal1 includ+ co/s associat$ )-- 7,a7 plann+ & =mulat+ optimal project design2 7,b7 assess+ project te*nical feasibility2 & 7,c7 assess+ pot5tial project p]=mance4 7#b7 ,loan program crit]ia ,9 provid+ loans "u ?is subsection1 ! ,fund %all give priority to activities t are likely to lead to projects t-- 7,a7 advance ! objectives set =? 9 section #cfb7;b72 & 7,b7 are consi/5t ) ! /rategy describ$ 9 section #cfb7;c74 7#c7 ,f$]al %>e ,! ,fund may ent] into a loan agreem5t ) an eligible recipi5t 9 :i* ! ,fund agrees to pay up to #ajj p]c5t ( eligible plann+ & feasibility co/s ( an eligible project "u ?is subsection4 7#d7 ,eligible co/s ,loan am\nts receiv$ "u ?is subsection may be us$ =-- 7,a7 any activity reasonably necess>y to obta9 ,f$]al1 ,/ate1 & local p]mits1 lic5ses1 & approvals = an eligible project1 includ+-- 7i7 concept developm5t & prelim9>y design2 7ii7 economic & environm5tal analyses2 & 7iii7 application1 lic5s+1 & p]mit fees2 or 7,b7 ! prep>ation ( f9ancial analyses & o!r economic analyses t are reasonably necess>y to secure fund+ to implem5t an eligible project4 7#e7 ,alignm5t ) inve/m5t prospectus ,! ,fund may n provide a loan = a project "u ?is subsection unless ! application mat]ials demon/rate t ! eligible project is align$ ) ! /rategy outl9$ 9 ! ,inve/m5t ,prospectus4 7#f7 ,designation = receipt ( c]ta9 funds ,if a non-,f$]al gov]nm5tal entity1 ag5cy1 or in/rum5tality is c>ry+ out ! plann+ & feasibility activities1 ! eligible fund+ recipi5t may designate su* entity1 ag5cy1 or in/rum5tality to receive loan am\nts = su* activities directly f ! ,fund4 7d7 ,direct loans & loan gu>antees 7#a7 ,direct loans 7,a7 ,agreem5ts ,! ,fund is au?oriz$ to make direct loans to eligible fund+ recipi5ts = eligible projects on su* t]ms & conditions1 & conta9+ su* cov5ants1 repres5tations1 w>ranties1 & requirem5ts1 includ+ requir$ audits1 z ! ,fund det]m9es appropriate1 9 accordance ) ! provisions "u ?is sub*apt]1 ! ,op]at+ ,guidance1 & all o!r /atutory & regulatory requirem5ts4 7,b7 ,approv$ inve/m5t plan ,direct loans made "u ?is p>agraph-- 7i7 may only be us$ to fund eligible project co/s cov]$ 9 an ,inve/m5t ,plan approv$ by ! ,secret>y2 & 7ii7 are subject to ! t]ms & conditions ( ! approv$ ,inve/m5t ,plan4 7,c7 ,t]ms1 conditions1 & limitations ,direct loans made "u ?is p>agraph w be on su* t]ms1 conditions1 & limitations z ! ,executive ,director may prescribe1 except t-- 7i7 ! ,fund may n provide cr$it assi/ance to any prospective borr[] unless su* assi/ance-- 7,i7 is necess>y-- 7aa7 to alleviate a cr$it m>ket imp]fection2 or 7bb7 to a*ieve specifi$ ,f$]al objectives by provid+ cr$it assi/ance2 & 7,,ii7 is ! mo/ effici5t way to meet su* objectives on a borr[]-by-borr[] basis2 7ii7 loans made "u ?is p>agraph may n be subord9at$ to o!r debt contract$ by ! borr[] or any o!r claims aga9/ ! borr[] 9 case ( default unless su* subord9ation is necess>y to a*ieve ,f$]al objectives1 consi/5t ) ! crit]ia & policies set =? 9 ! ,op]at+ ,guidance2 7iii7 direct loans or int]e/ supplem5ts on loan gu>antees %all be at an int]e/ rate t is set by ref]5ce to a b5*m>k int]e/ rate 7yield7 on m>ketable ,treasury securities ) a simil> maturity to ! direct loans be+ made or ! non-,f$]al loans be+ gu>ante$1 & includes any necess>y cr$it risk premium at a level consi/5t ) ! int]e/ rate policy set =? 9 ! ,op]at+ ,guidance2 7iv7 ! ,executive ,director-- 7,i7 %all prescribe explicit /&>ds = use 9 p]iodically assess+ ! cr$it risk ( new & exi/+ direct loans & gu>ante$ loans2 & 7,,ii7 may n ext5d cr$it assi/ance )\t det]m9+ t !re is a reasonable assurance ( repaym5t2 7v7 new direct loans may n be obligat$ & new loan gu>antees may n be committ$ except to ! ext5t t appropriations ( budget au?ority to cov] _! co/s are made 9 advance1 z requir$ "u section #ejd ( ! ,f$]al ,cr$it ,re=m ,act ( #aiij 7#b ,u4,s4,c4 #ffa;c72 7vi7 ! total pr9cipal am\nt ( ! direct loan or loan gu>antee may n exce$-- 7,i7 ! l[] ( #gj p]c5t ( total eligible project co/ less ! p]c5tage ( eligible project co/s t are o!rwise fund$ by ! ,fund2 or 7,,ii7 ano!r level prescrib$ 9 ! ,op]at+ ,guidance2 & 7vii7 not)/&+ any o!r provision ( law relat+ to ! acquisition1 h&l+1 or disposal ( prop]ty by ! ,f$]al ,gov]nm5t1 ! ,fund may complete1 recondition1 recon/ruct1 r5ovate1 repair1 ma9ta91 op]ate1 or sell any prop]ty acquir$ by ! ,fund "u ?is sub*apt]4 7,d7 ,repaym5t 7i7 ,policies ,! ,fund %all-- 7,i7 adh]e to ! policies set =? 9 ! ,op]at+ ,guidance conc]n+ repaym5t t]ms2 & 7,,ii7 e/abli% repaym5t t]ms = ea* direct loan bas$ on ! project$ ca% fl[ f project rev5ues or o!r repaym5t s\rces4 7ii7 ,maturity date ,! f9al maturity date ( a direct loan "u ?is p>agraph-- 7,i7 %all n exce$ #ij p]c5t ( ! e/imat$ useful economic life ( ! asset be+ f9anc$1 except "u conditions set =? 9 ! ,op]at+ ,guidance2 & 7,,ii7 may n be lat] ?an ! e/imat$ useful economic life ( ! asset be+ f9anc$4 7,e7 ,risk assessm5t ,be=e ent]+ 9 any agreem5t "u ?is section1 ! ,executive ,director %all complete a risk assessm5t ( ! project to be fund$4 ,requirem5ts = risk assessm5t %all be outl9$ 9 ! ,op]at+ ,guidance4 7#b7 ,loan gu>antees 7,a7 ,9 g5]al ,! ,fund is au?oriz$ to provide loan gu>antees to eligible fund+ recipi5ts on su* t]ms & conditions & conta9+ su* cov5ants1 repres5tations1 w>ranties1 & requirem5ts 7includ+ requir$ audits7 z ! ,fund det]m9es appropriate1 9 accordance ) ! provisions "u ?is sub*apt]1 ! ,op]at+ ,guidance1 & all o!r /atutory & regulatory requirem5ts4 7,b7 ,approv$ inve/m5t plan ,loan gu>antees provid$ "u ?is p>agraph-- 7i7 may only cov] eligible project co/s 9 an approv$ ,inve/m5t ,plan2 & 7ii7 are subject to ! t]ms & conditions ( ! approv$ ,inve/m5t ,plan4 7,c7 ,t]ms1 conditions1 & limitations 7i7 ,9 g5]al ,! t]ms1 conditions1 & limitations ( a gu>ante$ loan %all comply ) ! t]ms1 conditions1 & limitations set =? 9 p>agraph 7#a7 = a direct loan1 includ+ maximum ,fund %>e requirem5ts1 except t ! int]e/ rate on ! gu>ante$ loan & any repaym5t features %all be negotiat$ betwe5 ! eligible fund+ recipi5t & ! l5d] 9 accordance ) ! policies set =? 9 ! ,op]at+ ,guidance1 & ) ! cons5t ( ! ,secret>y4 7ii7 ,income exclud$ ,a loan may n be gu>ante$ "u ?is p>agraph if-- 7,i7 ! income f su* loan is exclud$ f gross income = ! purposes ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf2 or 7,,ii7 ! gu>antee provides significant collat]al or security1 z det]m9$ by ! ,executive ,director1 = o!r obligations g5]at+ income t is simil>ly exclud$4 7iii7 ,fees ,fees or premiums = a loan gu>antee or insurance cov]age %all be set at levels t m9imize ! co/ to ! ,gov]nm5t 7z def9$ 9 section #ejb7e7 ( ! ,f$]al ,cr$it ,re=m ,act ( #aiij 7#b ,u4,s4,c4 #ffa;a7#e777 ( su* cov]age1 :ile support+ a*ievem5t ( ! program's objectives1 9 accordance ) policies set =? 9 ! ,op]at+ ,guidance4 7iv7 ,p]c5t gu>ante$ ,a loan gu>antee "u ?is p>agraph may n exce$ #hj p]c5t ( ! loss ( ! loan4 ,borr[]s :o pose less ( a risk %all receive a l[] gu>antee z a p]c5tage ( ! loan am\nt4 7v7 ,crit]ia ,a loan may n be gu>ante$ "u ?is p>agraph unless ! ,executive ,director det]m9es t-- 7,i7 ! l5d] is responsible2 & 7,,ii7 adequate provision is made = s]vic+ ! loan on reasonable t]ms4 7vi7 ,conclusive evid5ce ,any gu>antee %all be conclusive evid5ce t-- 7,i7 su* gu>antee has be5 prop]ly obta9$2 7,,ii7 ! und]ly+ loan qualifi$ = su* gu>antee2 & 7,,iii7 su* gu>antee is presum$ to be valid1 legal1 & en=ceable1 unless su* gu>antee 0 obta9$ ?r\gh fraud or mat]ial misrepres5tation by ! hold]4 7vii7 ,effect ( default ,if1 z a result ( a default by a borr[] "u a gu>ante$ loan1 aft] ! hold] ( ! loan has made su* fur!r collection ef=ts & in/itut$ su* en=cem5t proce$+s z ! ,executive ,director may require1 ! ,executive ,director det]m9es t ! hold] has suff]$ a loss1 ! ,executive ,director-- 7,i7 %all pay to ! hold] n m ?an #hj p]c5t ( su* loss1 z specifi$ 9 ! gu>antee contract2 7,,ii7 ^u mak+ su* paym5t1 %all be subrogat$ to all ! rights ( ! recipi5t ( ! paym5t2 & 7,,iii7 %all be entitl$ to recov] f ! borr[] ! am\nt ( any paym5ts made pursuant to any gu>antee ent]$ into "u ?is p>agraph4 7viii7 ,en=cem5t ,! ,attorney ,g5]al %all take su* action z may be appropriate to en=ce any "r accru+ to ! ,unit$ ,/ates z a result ( ! issuance ( any loan gu>antee "u ?is p>agraph4 7ix7 ,sav+s provision ,no?+ 9 ?is p>agraph may be con/ru$ to preclude any =be>ance = ! b5efit ( ! borr[]1 :i* may be agre$ ^u by ! ,executive ,director1 if budget au?ority = any result+ modification co/ 7z def9$ "u section #ejb ( ! ,congressional ,budget ,act ( #aigd 7#b ,u4,s4,c4 #ffa;a77 is available4 7,d7 ,repaym5t ,! ,fund %all adh]e to policies set =? 9 ! ,op]at+ ,guidance conc]n+ repaym5t t]ms & %all e/abli% repaym5t t]ms = ea* direct loan bas$ on ! project$ ca% fl[ f project rev5ues or o!r repaym5t s\rces4 7,e7 ,risk assessm5t ,requirem5ts = risk assessm5t %all be outl9$ 9 ! ,op]at+ ,guidance4 7e7 ,application evaluation & qualification 7#a7 ,application eligibility /&>d ,an application = f9ancial assi/ance f ! ,fund may n be consid]$ unless-- 7,a7 fund+ recipi5t or recipi5ts1 project or program ( relat$ projects1 & associat$ project co/s id5tifi$ 9 ! application are eligible = su* fund+ "u ?is sub*apt]2 7,b7 eligible project co/s id5tifi$ 9 ! application-- 7i7 are great] ?an #ej1jjj1jjj2 or 7ii7 if ! application is = a project or program ( relat$ projects locat$ entirely 9 a rural area1 are great] ?an #aj1jjj1jjj2 7,c7 ! application id5tifies f9ancial assi/ance f s\rces outside ( ! ,fund equal to at lea/ #cj p]c5t ( ! total eligible project co/s2 7,d7 ! application id5tifies project b5efits t are di/ribut$ broadly1 ei!r at a national or a regional level2 & 7,e7 ! applicant is n ineligible to receive ,f$]al loans1 loan gu>antees1 or insurance due to a del9qu5cy on ,f$]al tax or non-tax debts1 includ+ judgm5t li5s aga9/ prop]ty = a debt to ! ,f$]al ,gov]nm5t4 7#b7 ,resolution ( debts ,! ,fund %all use cr$it bureaus z a scre5+ tool & ask applicants ab\t del9qu5cies describ$ 9 p>agraph 7#a77;,e7 on ! application =m4 ,an application f an applicant t is del9qu5t on a debt to ! ,f$]al ,gov]nm5t may n be process$ until aft] ! applicant satisfactorily resolves ! debts 9 compliance ) section #cgbj;,b ( title #ca1 ,unit$ ,/ates ,code1 & section #bhe4ac ( title #ca1 ,code ( ,f$]al ,regulations4 7#c7 ,qualification score 7,a7 ,assignm5t ,! ,fund %all assign to ea* eligible application a s+le num]ical factor1 :i* %all be-- 7i7 bas$ ^u an evaluation ( ! in=mation & data collect$ f ! applicant or o!rwise obta9$ 9 ! c\rse ( due dilig5ce on ! application2 7ii7 ref]r$ to z ! #8qualification score'2 & 7iii7 equal to ! ratio betwe5 ! pres5t value ( b5efits to ! pres5t value ( co/s reasonably expect$ to result f ! fund+ ( ! project or projects propos$ 9 ! application4 7,b7 ,calculation ,! calculation ( ! qualification score %all be det]m9$ ?r\gh a consi/5tly & transp>5tly appli$ analytic & sy/ematic framework4 ,9 ord] to indicate ! pot5tial unc]ta9ty ( ! qualification score1 ! ,fund %all use a measure ( ! unc]ta9ty ( expect$ project b5efits & co/s to d]ive a range ( ratio values ) ! qualification score z ! midpo9t ( t range4 7,c7 ,me?odology ,! me?odology us$ to calculate ! qualification score & unc]ta9ty measures %all-- 7i7 apply equal weight+ to all measures ( ! net pres5t value ( b5efits & co/s2 7ii7 include /&>diz$ measures ( ! expect$ unc]ta9ty 9 bo? total & specific b5efits & co/s associat$ ) ! project2 & 7iii7 include a descriptive /atem5t del9eat+ ! significant factors & analysis t w5t into det]m9ation ( ! score & ! range4 7,d7 ,publication 7i7 ,inve/m5t prospectus ,! me?odology ( ! framework = calculat+ ! qualification score1 includ+ ! specific me*anics ( its calculation1 %all be publi%$ 9 ! ,inve/m5t ,prospectus4 7ii7 ,me?odology ,! quantification score1 ! me?odology us$ to calculate ! qualification score1 ! calculation ( ! qualification score1 & ! measure ( unc]ta9ty %all be-- 7,i7 provid$ to ! applicant n lat] ?an #ae days aft] _! f9al det]m9ation2 & 7,,ii7 publi%$ on ! ,fund's website n lat] ?an #cj days aft] _! f9al det]m9ation4 7#d7 ,application c]tification ,! ,executive ,director may n c]tify an application z qualifi$ = f9ancial assi/ance on ! basis ( an evaluation ( ! in=mation & data collect$ f ! applicant unless ! ,executive ,director det]m9es t ! application's qualification score-- 7,a7 has be5 calculat$ on ! basis ( data1 e/imates1 & assumptions t are def5sible accord+ to accept$ /&>ds ( economic analysis2 7,b7 appe>s valid bas$ on ef=ts by ! ,fund to conduct due dilig5ce & v]ification2 7,c7 is great] ?an ! ?re%old = qualification publi%$ 9 ! ,inve/m5t ,prospectus2 & 7,d7 is competitive ) scores issu$ to applications curr5tly "u consid]ation & scores issu$ to applications previ\sly fund$ "u ?is section1 aft] tak+ into acc\nt ! ext5t to :i* ! application "u consid]ation1 9 ord] ( priority-- 7i7 advances ! objectives ( ! ,fund set =? 9 section #cfb7;b72 7ii7 addresses a special infra/ructure inve/m5t *all5ge due to co/1 complexity1 cross-jurisdictional scope1 multi-modal features1 or ! use ( innovative te*nologies2 7iii7 provides a co/-effective approa* to a*iev+ ! b5efits describ$ 9 ! application relative to alt]native approa*es to a*iev+ comp>able b5efits1 aft] tak+ into acc\nt ! e/imat$ unc]ta9ty 9 measures ( co/s & b5efits associat$ ) ! project2 7iv7 comb9es am\nts receiv$ f ! ,fund ) o!r rev5ue s\rces to lev]age sub/antial co-inve/m5t f non-,f$]al s\rces2 7v7 deliv]s rev5ue /reams f public or private s\rces d$icat$ to pay debt s]vice1 meet ongo+ op]at+ exp5ses1 or provide = ne$$ ma9t5ance & capital r5ewal ov] ! life cycle ( ! fund$ asset2 & 7vi7 enc\rages ! use ( innovative procurem5t1 asset managem5t1 or f9anc+ to optimize ! all-9-life-cycle co/-effectiv5ess ( a project4 7f7 ,inve/m5t plans 7#a7 ,qualifi$ application requirem5t ,aft] an application is c]tifi$ by ! ,executive ,director z qualifi$ "u subsection 7e77#d71 ! ,executive ,director & ! applicant %all ent] a process = produc+ a mutually agreeable ,inve/m5t ,plan4 ,f9ancial assi/ance may n be provid$ to an applicant "u ?is section unless ! applicant's ,inve/m5t ,plan has be5 recomm5d$ by ! ,bo>d & approv$ by ! ,secret>y4 7#b7 ,inve/m5t plann+ process ,! ,fund %all e/abli% an inve/m5t plann+ process = det]m9+ ! level1 =m1 & t]ms ( f9ancial assi/ance to be (f]$ by ! ,fund1 includ+ a mutually agreeable f9anc+ package t-- 7,a7 is adequate to fund ! project or projects includ$ 9 ! application2 7,b7 maximizes total expect$ project b5efits relative to total expect$ co/s2 & 7,c7 consid]s ! portion ( total co/s to be f9anc$ by ! ,fund4 7#c7 ,consid]ations ,:5 consid]+ ! appropriate level & =m ( ,fund res\rces to include 9 an ,inve/m5t ,plan1 ! ,fund %all-- 7,a7 consid] ! qualification score a*iev$ by ! application relative to o!r curr5t applications & previ\sly fund$ applications2 7,b7 /rive to make inve/m5t plan decisions on ! basis ( maximiz+ total net b5efits relative to co/2 & 7,c7 consid]-- 7i7 ! am\nt ( ,fund budget>y res\rces requir$ to complete a f9anc+ package2 7ii7 ! p]c5tage ( ,f$]al res\rces includ$ 9 ! ,inve/m5t ,plan 9 ! =m ( grants2 7iii7 ! level ( c]ta9ty ( ! propos$ net b5efits1 includ+ ! risks to ! ,f$]al taxpay] & ! project sponsor 9 ! ev5t ( project co/ ov]run or failure2 & 7iv7 ! p]c5tage ( eligible project co/s to be fund$ ?r\gh non-,f$]al res\rces pl$g$ by ! applicant to complete a f9anc+ package4 7#d7 ,inve/m5t plans ,z "p ( ! inve/m5t plann+ process-- 7,a7 ! ,fund %all h ! sole discretion to det]m9e ! t]ms ( assi/ance to be (f]$ to applicants1 subject to ! provisions "u ?is sub*apt]1 ! availability ( fund+1 & any o!r /atutory & regulatory requirem5ts2 7,b7 if ! ,fund & ! applicant are able to rea* mutually agreeable t]ms1 ! ,fund %all record ! det]m9ation on ,fund assi/ance & ! details ( ! complete f9anc+ package 9 an ,inve/m5t ,plan2 7,c7 ! ,fund may n approve an ,inve/m5t ,plan t does n id5tify a complete f9anc+ package2 & 7,d7 ! ,fund is n requir$ or compell$ to rea* agreem5t on an ,inve/m5t ,plan4 7#e7 ,submission to ,bo>d ,! ,executive ,director %all advance ,inve/m5t ,plans = qualifi$ applications to ! ,bo>d at regul> submission int]vals1 z set =? 9 ! ,op]at+ ,guidance4 7#f7 ,conflict ( int]e/ protections ,! ,secret>y ( ,transportation & ! ,fund %all jo9tly e/abli%1 9 op]at+ proc$ures & 9 ! ,op]at+ ,guidance1 communications practices & compliance proc$ures t protect pr(essional /aff ( ! ,fund :o are responsible = negotiat+ ,inve/m5t ,plans f outside or o!rwise inappropriate influ5ce1 & conflicts ( int]e/1 includ+ necess>y re/rictions on communications betwe5 /aff ( ! ,fund :o are responsible = ! inve/m5t plann+ process & individuals & organizations )9 & outside ! ,dep>tm5t ( ,transportation1 includ+-- 7,a7 ! ,bo>d2 7,b7 ! ,(fice ( ! ,secret>y2 7,c7 ! ,secret>y2 & 7,d7 o!rs ne$$ to safegu>d ! ability ( ! ,fund to fairly & indep5d5tly =mulate ,inve/m5t ,plans "u ?is subsection4 7g7 ,fund+ decisions 7#a7 ,inve/m5t plan submission requirem5t ,! ,bo>d may n consid] recomm5d+ an application = fund+ be=e receiv+ an ,inve/m5t ,plan f ! ,executive ,director4 7#b7 ,application fund+ recomm5dation ,n lat] ?an #ae days aft] receiv+ an ,inve/m5t ,plan f ! ,executive ,director1 ! ,bo>d %all-- 7,a7 vote on :e!r to recomm5d fund+ = ! ,inve/m5t ,plan2 7,b7 notify ! ,secret>y ( ! outcome ( su* vote2 & 7,c7 if fund+ is recomm5d$1 =w>d ! ,inve/m5t ,plan to ! ,secret>y = approval4 7#c7 ,no modification ,nei!r ! ,bo>d nor ! ,secret>y may modify any ,inve/m5t ,plan4 7#d7 ,fund+ consid]ation 7,a7 ,det]m9ation ,aft] consid]+ an ,inve/m5t ,plan recomm5d$ by ! ,bo>d1 ! ,secret>y %all approve or reject ! ,inve/m5t ,plan4 7,b7 ,approval ,if ! ,inve/m5t ,plan is approv$ by ! ,secret>y1 x %all be fund$ 9 accordance ) ! provisions ( ! ,inve/m5t ,plan4 7,c7 ,rejection ,if ! ,inve/m5t ,plan is reject$ by ! ,secret>y1 ! ,inve/m5t ,plan-- 7i7 %all be return$ to ! ,executive ,director ) a detail$ ju/ification = reject+ ! ,inve/m5t ,plan1 :i* %all be =w>d$ to ! applicant2 & 7ii7 may be reconsid]$ by ! ,fund n e>li] ?an #a ye> aft] su* date ( return4 7h7 ,project sponsor%ip2 public b5efit analysis2 legal compliance 7#a7 ,compliance ) applicable laws 7,a7 ,9 g5]al ,subject to subp>agraphs 7,b7 & 7,c71 ! ,fund %all det]m9e :i* requirem5ts "u ?is title or title #bc %all be applicable to projects receiv+ f9ancial assi/ance "u ?is sub*apt] t w\ld o!rwise be eligible = f9ancial assi/ance "u su* titles4 7,b7 ,labor /&>ds 7i7 ,9 g5]al ,all labor]s & me*anics employ$ on projects assi/$ 9 :ole or 9 "p by & ?r\gh ! ,fund pursuant to ?is sub*apt] %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 ( title #dj4 7ii7 ,au?ority2 functions ,) respect to ! labor /&>ds specifi$ 9 ?is subp>agraph1 ! ,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 7iii7 ,requirem5ts ,projects fund$ directly by or assi/$ 9 :ole or 9 "p by & ?r\gh ! ,fund pursuant to ?is sub*apt] %all be subject to ! requirem5ts ( section #eccc7;b7 ( title #di1 ,unit$ ,/ates ,code4 7,c7 ,plann+ & environm5tal laws ,a project t receives f9ancial assi/ance "u ?is sub*apt] %all comply )-- 7i7 ! applicable plann+ & programm+ requirem5ts "u section #acd & #ace ( title #bc2 & 7ii7 all applicable environm5tal laws & requirem5ts1 includ+ ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq47 & ! ,national ,hi/oric ,pres]vation ,act ( #aiff 7#af ,u4,s4,c4 #dgj et seq474 7#b7 ,lead ag5cy 7,a7 ,9 g5]al ,! ,dep>tm5t ( ,transportation %all be ! ,f$]al lead ag5cy 9 ! environm5tal review process = a project t receives f9ancial assi/ance "u ?is sub*apt]4 ,subject to subp>agraphs 7,b7 ?r\gh 7,d71 ! ,secret>y ( ,transportation may delegate ?is responsibility to an op]at+ adm9i/ration4 7,b7 ,jo9t lead ,f$]al ag5cy ,no?+ 9 ?is p>agraph precludes ano!r ,f$]al ag5cy f be+ a jo9t lead ag5cy 9 accordance ) ! regulations adopt$ by ! ,presid5t's ,c\ncil on ,environm5tal ,quality4 7,c7 ,jo9t lead ,/ate ag5cy ,a non-,f$]al gov]nm5t entity1 ag5cy1 or in/rum5tality receiv+ funds "u ?is sub*apt] may-- 7i7 s]ve z a jo9t lead ag5cy ) ! ,dep>tm5t ( ,transportation "u ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq472 & 7ii7 at ! discretion ( ! lead ,f$]al ag5cy1 prep>e any environm5tal docum5t requir$ 9 support ( ! project if ! lead ,f$]al ag5cy-- 7,i7 furni%es guidance 9 su* prep>ation2 & 7,,ii7 indep5d5tly evaluates1 approves1 & adopts ! ,/ate or local gov]nm5t's environm5tal docum5tation be=e tak+ any action on ! project4 7,d7 ,nongov]nm5tal fund+ recipi5ts ,if a project is und]tak5 by a nongov]nm5tal entity1 ! non-,f$]al gov]nm5t entity1 ag5cy1 or in/rum5tality cosponsor ( ! project %all-- 7i7 s]ve z a jo9t lead ag5cy ) ! ,dep>tm5t ( ,transportation2 & 7i7 h ! au?ority to prep>e ! environm5tal docum5ts describ$ 9 subp>agraph 7,c77ii74 7#c7 ,det]m9ation ( applicable modal requirem5ts ,if a project has cross-modal compon5ts1 ! ,fund may designate ! specific requirem5ts t %all apply to ! project4 7#d7 ,use ( ,am]ican iron1 /eel1 & manufactur$ goods 7,a7 ,9 g5]al ,none ( ! funds made available "u ?is sub*apt] may be us$ = a project = ! con/ruction1 alt]ation1 ma9t5ance1 or repair ( a public build+ or public "w unless all ( ! iron1 /eel1 & manufactur$ goods us$ 9 ! project are produc$ 9 ! ,unit$ ,/ates4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply 9 any case or category ( cases 9 :i* ! ,secret>y f9ds t-- 7i7 apply+ subp>agraph 7,a7 w\ld be inconsi/5t ) ! public int]e/2 7ii7 iron1 /eel1 & ! relevant manufactur$ goods are n produc$ 9 ! ,unit$ ,/ates 9 suffici5t & reasonably available quantities & ( a satisfactory quality2 or 7iii7 inclusion ( iron1 /eel1 & manufactur$ goods produc$ 9 ! ,unit$ ,/ates w increase ! co/ ( ! ov]all project by m ?an #be p]c5t4 7,c7 ,publication ( waiv]s ,if ! ,secret>y det]m9es t x is necess>y to waive ! application ( subp>agraph 7,a7 bas$ on a f9d+ "u subp>agraph 7,b71 ! head ( ! dep>tm5t or ag5cy %all publi% 9 ! ,f$]al ,regi/] a detail$ writt5 ju/ification z to :y ! provision is be+ waiv$4 7,d7 ,int]national agreem5ts ,?is p>agraph %all be appli$ 9 a mann] consi/5t ) ,unit$ ,/ates obligations "u int]national agreem5ts4 7i7 ,inve/m5t-,grade rat+ requirem5t ,! ,fund %all ma9ta9 a portfolio ( projects ^: av]age rat+ is n less ?an inve/m5t grade4 #cfe4 ,/udies & reports 7a7 ,annual f9ancial audits 7#a7 ,9 g5]al ,! ,fund %all be subject to an annual f9ancial audit by an indep5d5t public acc\nt+ firm select$ by ! ,bo>d to ensure t its op]ations meet g5]ally accept$ acc\nt+ pr9ciples4 7#b7 ,dissem9ation ,! ,fund %all-- 7,a7 submit ! results ( ea* audit "u p>agraph 7#a7 to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ( ! ,s5ate & ! ,committee on ,transportation & ,infra/ructure ( ! ,h\se ( ,repres5tatives2 & 7,b7 po/ su* audit results on ! ,fund's website4 7b7 ,comptroll] ,g5]al ,report 7#a7 ,9 g5]al ,n lat] ?an #e ye>s aft] ! date ( enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all prep>e & submit to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ( ! ,s5ate & ! ,committee on ,transportation & ,infra/ructure 9 ! ,h\se ( ,repres5tatives a report t evaluates ! op]ations ( ! ,fund & assesses ! effectiv5ess ( ! ,fund at facilitat+ & f9anc+ infra/ructure projects4 ,! ,comptroll] ,g5]al %all provide p]iodic ov]sight & monitor+ ( ! ,fund z x is e/abli%$ & report on su* ov]sight1 z agre$ to ) ! appropriate congressional committees4 7#b7 ,cont5ts 7,a7 ,9 g5]al ,! ,comptroll] ,g5]al %all review & include 9 ! report "u p>agraph 7#a71 at m9imum1 ! foll[+3 7i7 ,! type ( projects select$ & f9anc+ us$4 7ii7 ,! level ( ,f$]al fund+ provid$ to support ! ,fund & ! projects select$ = fund+4 7iii7 ,! level ( private sector funds t 7 contribut$ to specific projects4 7iv7 ,! process1 crit]ia1 & analysis us$ to select projects & h[ ! process1 crit]ia1 & analysis c\ld be improv$4 7v7 ,! monitor+ & evaluation processes ! ,fund uses to det]m9e if an individual project is meet+ its objectives4 7,b7 ,consid]ations ,! ,gov]nm5t ,acc\ntability ,(fice %all-- 7i7 analyze curr5t tr5ds 9 ! f9anc+ infra/ructure 9 ! ,unit$ ,/ates2 7ii7 id5tify lessons ! analysis "u clause 7i7 may imply = improvem5ts or modifications to ! /ructure or op]ations ( ! ,fund2 7iii7 analyze ! exp]i5ces ( o!r indu/rializ$ c\ntries t h develop$ alt]native =ms ( f9anc+ public infra/ructure2 & 7iv7 id5tify lessons t ! =eign exp]i5ces "u clause 7iii7 may h = ! op]ations & effici5cy ( ! ,fund4 7c7 ,bi5nial report 7#a7 ,9 g5]al ,e #b ye>s aft] ! date ( ! enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 ! ,bo>d1 9 consultation ) ! ,director ( ! ,(fice ( ,managem5t & ,budget & ! ,fund ,advisory ,committee-- 7,a7 %all prep>e a report t-- 7i7 evaluates ! ,fund's p]=mance2 & 7ii7 includes an assessm5t ( ! ,fund z a model = infra/ructure inve/m5t2 & 7,b7 may include a recomm5dation 9 ! report "u subp>agraph 7,a7 on :e!r to ext5d ! ,fund's activities to nontransportation infra/ructure sectors likely to b5efit ! ,unit$ ,/ates1 includ+-- 7i7 r5ewable en]gy g5]ation2 7ii7 en]gy transmission & /orage2 7iii7 en]gy effici5cy2 7iv7 dr9k+ wat] & wa/ewat] sy/ems2 7v7 telecommunications2 & 7vi7 o!r infra/ructure activities4 7#b7 ,dissem9ation ,! ,bo>d %all-- 7,a7 submit ! report prep>$ "u p>agraph 7#a7 to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ( ! ,s5ate & ! ,committee on ,transportation & ,infra/ructure ( ! ,h\se ( ,repres5tatives2 & 7,b7 po/ ! report on ! ,fund's website4 7d7 ,inve/m5t plan & decisions ,n lat] ?an #ij days aft] ! ,bo>d's decision on an ,inve/m5t ,plan1 ! ,fund ,advisory ,committee %all po/ a report on ! ,fund's website t assesses-- 7#a7 ! adh]5ce ( ea* fund+ decision to ! requirem5ts ( ! ,inve/m5t ,prospectus1 ,op]at+ ,guidance1 & ?is sub*apt]2 7#b7 ! consi/5cy ( fund$ applications ) ! prim>y objective1 ! second>y objectives1 ! ,fund /rategy1 & ! requirem5ts "u ?is sub*apt]2 7#c7 ! validity ( ! qualification c]tification ( ea* fund$ application2 7#d7 ! return on ,f$]al inve/m5t likely to result f ea* fund$ ,inve/m5t ,plan2 & 7#e7 ! return on total inve/m5t likely to result f ea* fund$ ,inve/m5t ,plan4 4 7b7 ,au?orization ( appropriations 7#a7 ,am\nts au?oriz$ 7,a7 ,9 g5]al ,!re is au?oriz$ to be appropriat$ to c>ry out sub*apt] ,,iv ( *apt] #c ( title #di1 ,unit$ ,/ates ,code1 z add$ by subsection 7a71 #e1jjj1jjj1jjj = ea* ( fiscal ye>s #bjad & #bjae4 7,b7 ,availability ( funds ,am\nts made available "u subp>agraph 7,a7 %all rema9 available until exp5d$4 7#b7 ,adm9i/rative exp5ses ,( ! am\nts appropriat$ "u p>agraph 7#a71 ! ,fund may exp5d1 to pay ! reasonable co/s ( adm9i/]+ su* sub*apt] ,,iv1 inclusive ( any fees collect$ "u su* sub*apt]-- 7,a7 n m ?an #ej1jjj1jjj 9 fiscal ye> #bjad2 & 7,b7 n m ?an #ea1jjj1jjj 9 fiscal ye> #bjae4 #c4 ,national infra/ructure inve/m5t grants 7a7 ,e/abli%m5t ( program ,*apt] #ee ( title #di1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 ,,iii ,f9ancial ,assi/ance #eeha4 ,national infra/ructure inve/m5t grants 7a7 ,e/abli%m5t ( program ,! ,secret>y ( ,transportation %all e/abli% a competitive grant program to provide f9ancial assi/ance = projects t w h a significant impact on ! ,nation1 a metropolitan area1 or a region4 7b7 ,eligible projects ,an applicant is eligible = a grant "u ?is section = a project t is "p (1 or relat$ to1 a transportation improvem5t1 includ+ projects relat$ to ! con/ruction or improvem5t (-- 7#a7 a pass5g] or freight rail l9e2 7#b7 a highway2 7#c7 a bridge2 7#d7 an airport2 7#e7 an air traffic control sy/em2 7#f7 a port or m>9e facility2 7#g7 an inl& wat]way2 7#h7 a transmission or di/ribution pipel9e2 7#i7 public transportation facilities or sy/ems2 7#aj7 int]city pass5g] bus or pass5g] rail facilities or equipm5t2 7#aa7 freight rail facilities or equipm5t2 or 7#ab7 plann+1 prep>ation1 or design ( any project describ$ 9 p>agraphs 7#a7 ?r\gh 7#aa74 7c7 ,project selection crit]ia ,9 det]m9+ :e!r to aw>d a grant to an eligible applicant "u ?is section1 ! ,secret>y %all consid] ! ext5t to :i* ! project-- 7#a7 lev]ages ,f$]al inve/m5t by enc\rag+ non-,f$]al contributions to ! project1 includ+ contributions f public-private p>tn]%ips2 7#b7 improves ! mobility ( p1 goods1 & commodities2 7#c7 incorporates new & innovative te*nologies1 includ+ intellig5t transportation sy/ems2 7#d7 improves en]gy effici5cy or r$uces gre5h\se gas emissions2 7#e7 helps ma9ta9 or protect ! environm5t1 includ+ r$uc+ air & wat] pollution2 7#f7 r$uces conge/ion2 7#g7 improves ! condition ( transportation infra/ructure1 includ+ br++ x into a /ate ( good repair2 7#h7 improves safety1 includ+ r$uc+ transportation accid5ts1 injuries1 & fatalities2 7#i7 demon/rates t ! propos$ project _c be readily & effici5tly realiz$ )\t ,f$]al support & p>ticipation2 & 7#aj7 enhances national or regional economic developm5t1 gr[?1 & competitiv5ess4 7d7 ,priority ,! ,secret>y %all give priority to projects t h ! highe/ sy/em p]=mance improvem5t relative to _! b5efit-co/ analysis4 7e7 ,lett]s ( int5t 7#a7 ,9 g5]al ,! ,secret>y may issue a lett] ( int5t to an applicant ann\nc+ an int5tion to obligate1 = a major capital project "u ?is subsection1 an am\nt f future available budget au?ority specifi$ 9 law t is n m ?an ! am\nt /ipulat$ z ! f9ancial p>ticipation ( ! ,secret>y 9 ! project4 7#b7 ,notification ,n lat] ?an #cj days be=e issu+ a lett] "u p>agraph 7#a71 ! ,secret>y %all submit writt5 notification ( ! propos$ lett] or agreem5t to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ( ! ,s5ate & ! ,committee on ,transportation & ,infra/ructure ( ! ,h\se ( ,repres5tatives1 :i* %all include-- 7,a7 a copy ( ! propos$ lett] or agreem5t2 7,b7 ! crit]ia us$ "u subsection 7c7 = select+ ! project = a grant aw>d2 & 7,c7 a description ( h[ ! project meets su* crit]ia4 7#c7 ,commitm5t ,an obligation or adm9i/rative commitm5t may be made only :5 am\nts are made available4 ,! lett] ( int5t %all /ate t ! cont+5t commitm5t is n an obligation ( ! ,f$]al ,gov]nm5t1 & is subject to ! availability ( funds "u ,f$]al law & to ,f$]al laws 9 =ce or enact$ aft] ! date ( ! cont+5t commitm5t4 7f7 ,f$]al %>e ( net project co/ 7#a7 ,9 g5]al ,! ,f$]al %>e ( a grant = ! project %all n exce$ #hj p]c5t ( ! project net capital co/4 7#b7 ,e/imate ,! ,secret>y %all e/imate ! net project co/ bas$ on eng9e]+ /udies1 /udies ( economic feasibility1 & in=mation on ! expect$ use ( equipm5t or facilities4 7#c7 ,priority ,! ,secret>y %all give priority 9 allocat+ future obligations & cont+5t commitm5ts to incur obligations to grant reque/s seek+ a l[] ,f$]al %>e ( ! project net capital co/4 7g7 ,coop]ative agreem5ts 7#a7 ,9 g5]al ,an applicant may ent] into an agreem5t ) any public1 private1 or nonpr(it entity to coop]atively implem5t any project fund$ ) a grant "u ?is sub*apt]4 7#b7 ,=ms ( p>ticipation ,p>ticipation by an entity "u p>agraph 7#a7 may consi/ (-- 7,a7 own]%ip or op]ation ( any l&1 facility1 vehicle1 or o!r physical asset associat$ ) ! project2 7,b7 co/-%>+ ( any project exp5se or non-,f$]al %>e ( ! project co/1 includ+ 9-k9d contributions2 7,c7 c>ry+ out adm9i/ration1 con/ruction managem5t1 project managem5t1 project op]ation1 or any o!r managem5t or op]ational duty associat$ ) ! project2 & 7,d7 any o!r =m ( p>ticipation approv$ by ! ,secret>y4 7h7 ,ov]sight program 7#a7 ,e/abli%m5t 7,a7 ,9 g5]al ,! ,secret>y %all e/abli% an ov]sight program to monitor ! effective & effici5t use ( funds au?oriz$ to c>ry out ?is section4 7,b7 ,m9imum requirem5t ,at a m9imum1 ! program %all be responsive to all areas relat+ to f9ancial integrity & project deliv]y4 7#b7 ,f9ancial integrity 7,a7 ,f9ancial managem5t sy/ems ,! ,secret>y %all p]=m annual reviews t address elem5ts ( ! applicant's f9ancial managem5t sy/ems t affect projects approv$ "u subsection 7a74 7,b7 ,project co/s ,! ,secret>y %all develop m9imum /&>ds = e/imat+ project co/s & %all p]iodically evaluate ! practices ( applicants = e/imat+ project co/s1 aw>d+ contracts1 & r$uc+ project co/s4 7#c7 ,project deliv]y ,! ,secret>y %all p]=m annual reviews t address elem5ts ( ! project deliv]y sy/em ( an applicant1 :i* elem5ts include "o or m activities t are involv$ 9 ! life cycle ( a project f conception to completion ( ! project4 7#d7 ,responsibility ( ! applicants 7,a7 ,9 g5]al ,ea* applicant %all submit to ! ,secret>y = approval su* plans1 specifications1 & e/imates = ea* propos$ project z ! ,secret>y may require4 7,b7 ,applicant subrecipi5ts ,! applicant %all be responsible = det]m9+ t a subrecipi5t ( ,f$]al funds "u ?is section has-- 7i7 adequate project deliv]y sy/ems = projects approv$ "u ?is section2 & 7ii7 suffici5t acc\nt+ controls to prop]ly manage su* ,f$]al funds4 7,c7 ,p]iodic review ,! ,secret>y %all p]iodically review ! monitor+ ( subrecipi5ts by ! applicant4 7#e7 ,specific ov]sight responsibilities ,no?+ 9 ?is section %all affect or dis*>ge any ov]sight responsibility ( ! ,secret>y specifically provid$ = "u ?is title or o!r ,f$]al law4 7i7 ,major ,projects 7#a7 ,9 g5]al ,a recipi5t ( a grant = a project "u ?is section ) an e/imat$ total co/ ( #ejj1jjj1jjj or m1 & a recipi5t = su* o!r projects z may be id5tifi$ by ! ,secret>y1 %all submit to ! ,secret>y = ea* project-- 7,a7 a project managem5t plan2 & 7,b7 an annual f9ancial plan4 7#b7 ,project managem5t plan ,a project managem5t plan %all docum5t-- 7,a7 ! proc$ures & processes t are 9 effect to provide timely in=mation to ! project decision mak]s to effectively manage ! scope1 co/s1 s*$ules1 & quality (1 & ! ,f$]al requirem5ts applicable to1 ! project2 & 7,b7 ! role ( ! ag5cy lead]%ip & managem5t team 9 ! deliv]y ( ! project4 7#c7 ,f9ancial plan ,a f9ancial plan %all-- 7,a7 be bas$ on detail$ e/imates ( ! co/ to complete ! project2 & 7,b7 provide = ! annual submission ( updates to ! ,secret>y t are bas$ on reasonable assumptions1 z det]m9$ by ! ,secret>y1 ( future increases 9 ! co/ to complete ! project4 7j7 ,o!r ,projects ,a recipi5t ( ,f$]al f9ancial assi/ance = a project "u ?is section ) an e/imat$ total co/ ( #ajj1jjj1jjj or m t is n cov]$ by subsection 7i7 %all prep>e an annual f9ancial plan4 ,annual f9ancial plans prep>$ "u ?is subsection %all be made available to ! ,secret>y = review ^u ! reque/ ( ! ,secret>y4 7k7 ,o!r ,t]ms & ,conditions ,! ,secret>y %all det]m9e :at additional grant t]ms & conditions are necess>y & appropriate to meet ! requirem5ts ( ?is section4 7l7 ,regulations ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 ! ,secret>y %all prescribe regulations to implem5t ?is section4 7m7 ,applicant ,def9$ ,9 ?is sub*apt]1 ! t]m applicant includes a ,/ate1 a political subdivision ( a ,/ate1 gov]nm5t-sponsor$ au?orities & corporations1 & ! ,di/rict ( ,columbia4 7n7 ,secret>ial ,ov]sight 7#a7 ,con/ruction managem5t contracts ,! ,secret>y may use n m ?an #a p]c5t ( am\nts made available 9 a fiscal ye> = capital projects "u ?is sub*apt] to ent] into contracts to ov]see ! con/ruction ( su* projects4 7#b7 ,compliance reviews ,! ,secret>y may use am\nts available "u p>agraph 7#a7 to make contracts = safety1 procurem5t1 managem5t1 & f9ancial compliance reviews & audits ( a recipi5t ( am\nts "u p>agraph 7#a74 7#c7 ,f$]al co/s ,! ,f$]al ,gov]nm5t %all pay ! entire co/ ( c>ry+ out a contract "u ?is subsection4 7o7 ,compliance ) applicable laws 7#a7 ,labor /&>ds ,! provisions ( sub*apt] ,,iv ( *apt] #ca ( title #dj1 %all apply to funds made available "u ?is sub*apt]4 7#b7 ,plann+ & environm5tal laws ,a project t receives f9ancial assi/ance "u ?is sub*apt] %all comply )-- 7,a7 ! applicable plann+ & programm+ requirem5ts "u sections #acd & #ace ( title #bc2 & 7,b7 all applicable environm5tal laws & requirem5ts1 includ+ ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq47 & ! ,national ,hi/oric ,pres]vation ,act ( #aiff 7#af ,u4,s4,c4 #dgj et seq474 7p7 ,us] ( ,am]ican iron1 /eel1 & manufactur$ goods 7#a7 ,9 g5]al ,none ( ! funds made available "u ?is sub*apt] may be us$ = a project = ! con/ruction1 alt]ation1 ma9t5ance1 or repair ( a public build+ or public "w unless all ( ! iron1 /eel1 & manufactur$ goods us$ 9 ! project are produc$ 9 ! ,unit$ ,/ates4 7#b7 ,exception ,p>agraph 7#a7 %all n apply 9 any case or category ( cases 9 :i* ! ,secret>y f9ds t-- 7,a7 apply+ p>agraph 7#a7 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 project by m ?an #be p]c5t4 7#c7 ,publication ( waiv]s ,if ! ,secret>y det]m9es t x is necess>y to waive ! application ( p>agraph 7#a7 bas$ on a f9d+ "u p>agraph 7#b71 ! head ( ! dep>tm5t or ag5cy %all publi% 9 ! ,f$]al ,regi/] a detail$ writt5 ju/ification z to :y ! provision is be+ waiv$4 7#d7 ,int]national agreem5ts ,?is subsection %all be appli$ 9 a mann] consi/5t ) ,unit$ ,/ates obligations "u int]national agreem5ts4 7q7 ,p]=mance evaluation 7#a7 ,annual reports 7,a7 ,9 g5]al ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all conduct an annual assessm5t to evaluate ! ov]all p]=mance ( grants made "u ! program e/abli%$ "u subsection 7a74 7,b7 ,dissem9ation ,! ,comptroll] ,g5]al %all submit a report conta9+ ! results ( ! evaluation "u subp>agraph 7,a7 to ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ( ! ,s5ate & ! ,committee on ,transportation & ,infra/ructure ( ! ,h\se ( ,repres5tatives4 7#b7 ,biannual report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ! ,am]ican ,infra/ructure ,inve/m5t ,fund ,act1 & e #f mon?s !reaft]1 ! ,secret>y ( ,transportation %all submit a report to ! congressional committees set =? 9 p>agraph 7#a77;,b7 t docum5ts-- 7,a7 ! numb] ( applications receiv$ "u ?is section2 7,b7 ! /atus ( su* applications2 7,c7 ! outcome ( application evaluations2 & 7,d7 ! /atus ( grants aw>d$ "u ! program e/abli%$ "u subsection 7a74 7r7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,secret>y #fjj1jjj1jjj = ea* ( fiscal ye>s #bjad & #bjae to c>ry out ?is section4 4 7b7 ,con=m+ am5dm5t ,! table ( sections = *apt] #ee ( title #di1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ! foll[+3 ,,sub*apt] ,,iii--,f9ancial ,assi/ance #eeha4 ,national infra/ructure inve/m5t grants4 4