,,ii  #aad? ,,congress  #a/ ,session    
,s4 #abif  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #ab1 #bjae ,mrs4  
,fis*] introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to e/abli% !       
,am]ican ,infra/ructure ,bank to (f]    
,/ates ! option = m flexibility 9 f9anc+
 & fund+ infra/ructure projects4  #a4   
,%ort title2 table ( cont5ts  7a7 ,%ort 
title  ,?is ,act may be cit$ z ! ,build 
,,usa ,act4  7b7 ,table ( cont5ts ,!    
table ( cont5ts ( ?is ,act is z foll[s3 
,sec4 #a4 ,%ort title2 table ( cont5ts4 
,sec4 #b4 ,def9itions4 ,,title          
,i--,am]ican ,infra/ructure ,bank ,sec4 
#aja4 ,e/abli%m5t ( ,am]ican            
,infra/ructure ,bank4 ,sec4 #ajb4 ,/ate 
remittance agreem5ts ) ,bank4 ,sec4     
#ajc4 ,loans to ,/ates & units ( local  
gov]nm5t = transportation projects4     
,,title ,,ii--,capitalization ( ,bank   
,sec4 #bja4 ,all[ance ( tempor>y        
divid5ds receiv$ d$uction = divid5ds    
receiv$ f a controll$ =eign corporation4

 ,sec4 #bjb4 ,appropriations to ,bank4  
#b4 ,def9itions ,9 ?is ,act3 7#a7 ,bank 
,! t]m ,bank means ! ,am]ican           
,infra/ructure ,bank e/abli%$ by section
 #aja7;a74  7#b7 ,bo>d ,! t]m ,bo>d     
means ! ,bo>d ( ,directors ( ! ,bank4   
7#c7 ,core infra/ructure project ,! t]m 
core infra/ructure project means a      
,f$]al-aid highway or highway 7z ^? t]ms
 are def9$ 9 section #aja ( title #bc1  
,unit$ ,/ates ,code7 project ( a ,/ate t
 is eligible = fund+ "u *apt] #a ( title
 #bc1 ,unit$ ,/ates ,code4  7#d7        
,secret>y ,! t]m ,secret>y means !      
,secret>y ( ,transportation4  7#e7 ,/ate
 ,! t]m ,/ate has ! mean+ giv5 ! t]m 9  
section #aja7;a7 ( title #bc1 ,unit$    
,/ates ,code4  ,i ,am]ican              
,infra/ructure ,bank  #aja4 ,e/abli%m5t 
( ,am]ican ,infra/ructure ,bank  7a7    
,e/abli%m5t  7#a7 ,9 g5]al ,!re 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    

,act7 7except z o!rwise provid$ 9 ?is   
,act71 a bank to be kn[n z ! ,am]ican   
,infra/ructure ,bank4  7#b7             
,responsibility ( ,secret>y ,! ,secret>y
 %all take su* action z ! ,secret>y     
det]m9es to be necess>y to assi/ 9      
implem5t+ ! e/abli%m5t ( ! ,bank 9      
accordance ) ?is ,act4  7#c7 ,con=m+    
am5dm5t ,section #iaja7c7 ( title #ca1  
,unit$ ,/ates ,code1 is am5d$ by ins]t+ 
aft] subp>agraph 7,n7 ! foll[+3  7,o7 ! 
,am]ican ,infra/ructure ,bank4  4  7b7  
,bo>d ( ,directors  7#a7 ,memb]%ip  7,a7
 ,9 g5]al ,! ,bank %all h a bip>tisan   
,bo>d ( ,directors consi/+ (--  7i7 #d  
vot+ memb]s1 #a ( ea* :o %all be        
appo9t$1 by & ) ! advice & cons5t ( !   
,s5ate--  7,i7 by ! ,majority ,lead] ( !
 ,s5ate1 9 consultation ) ! ,*airp]son (
 ! ,committee on ,environm5t & ,public  
,works ( ! ,s5ate2  7,,ii7 by ! ,m9ority
 ,lead] ( ! ,s5ate1 9 consultation ) !  
,rank+ ,memb] ( ! ,committee on         
,environm5t & ,public ,works ( ! ,s5ate2
  7,,iii7 by ! ,speak] ( ! ,h\se (      

,repres5tatives1 9 consultation ) !     
,*airp]son ( ! ,committee on            
,transportation & ,infra/ructure ( !    
,h\se ( ,repres5tatives2 &  7,,iv7 by ! 
,m9ority ,lead] ( ! ,h\se (             
,repres5tatives1 9 consultation ) !     
,rank+ ,memb] ( ! ,committee on         
,transportation & ,infra/ructure ( !    
,h\se ( ,repres5tatives2 &  7ii7 #a     
non-vot+ memb]1 :o %all be ! ,secret>y  
7or a designee74  7,b7 ,qualifications  
,a ,bo>d memb] appo9t$ "u subp>agraph   
7,a77i7 %all h relevant exp]tise 9 !    
fields ( public or private f9ance1      
infra/ructure f9anc+1 or transportation 
infra/ructure policy4  7,c7 ,t]m ,a     
memb] ( ! ,bo>d %all be appo9t$ = a t]m 
( #c ye>s4  7,d7 ,date ( initial        
appo9tm5ts ,! initial appo9tm5ts to !   
,bo>d "u subp>agraph 7,a77i7 %all be    
made n lat] ?an #ahj days aft] ! date ( 
enactm5t ( ?is ,act4  7,e7 ,vacancies ,a
 vacancy on ! ,bo>d--  7i7 %all n affect
 ! p[]s ( ! ,bo>d2 &  7ii7 %all be fill$
 9 ! same mann] z ! orig9al appo9tm5t 0 

made4  7,f7 ,meet+s ,! ,bo>d %all meet  
at ! call ( ! *airp]son4  7,g7 ,quorum  
,a majority ( ! memb]s ( ! ,bo>d %all   
con/itute a quorum4  7,h7 ,*airp]son &  
vice *airp]son ,! ,bo>d %all select a   
*airp]son & vice *airp]son f among !    
memb]s ( ! ,bo>d4  7,i7 ,comp5sation    
7i7 ,9 g5]al ,subject to clause 7ii71 ! 
,secret>y %all det]m9e comp5sation (    
memb]s ( ! ,bo>d 9 a mann] t is consi/5t
 ) simil> comp5sation = memb]s ( o!r    
bo>ds 9 ! ,f$]al ,gov]nm5t4  7ii7 ,f$]al
 employees & (ficials ,a memb] ( !      
,commission :o is an (fic] or employee (
 ! ,f$]al ,gov]nm5t %all s]ve )\t       
comp5sation 9 addition to ! comp5sation 
receiv$ = ! s]vices ( ! memb] z an (fic]
 or employee ( ! ,f$]al ,gov]nm5t4  7,j7
 ,adm9i/rative co/s  7i7 ,9 g5]al ,= !  
fir/ #c ye>s beg9n+ on ! date ( enactm5t
 ( ?is ,act1 n m ?an  ( #a p]c5t ( !    
funds made available "u section #bjb    
%all be us$ =--  7,i7 comp5sation =     
memb]s ( ! ,bo>d "u subp>agraph 7,i72   
7,,ii7 comp5sation = employees ( !      

,bo>d2  7,,iii7 adm9i/rative exp5ses2 & 
7,,iv7 any o!r exp5ses incurr$ by !     
,bank4  7ii7 #c ye>s aft] ! date (      
enactm5t ,= any ye> beg9n+ aft] ! date t
 is #c ye>s aft] ! date ( enactm5t ( ?is
 ,act1 funds f int]e/ receiv$ by ! ,bank
 %all be us$ to provide funds = !       
exp5ses describ$ 9 clause 7i74  7#b7    
,duties ,! ,bo>d %all-- 7,a7 n lat] ?an 
#ah mon?s aft] ! date ( enactm5t ( ?is  
,act1 comm5ce op]ation ( ! ,bank1       
includ+ by e/abli%+ all op]ational &    
adm9i/rative p>amet]s ( ! ,bank2 &  7,b7
 monitor & ex]cise ov]sight ( core      
infra/ructure projects z necess>y to    
a*ieve ! purposes ( ! ,bank4  7#c7 ,p[]s
 ,! ,bo>d %all h ! au?ority-- 7,a7 9    
accordance ) su* t]ms z ! ,bo>d det]m9es
 to be appropriate1 to make s5ior &     
subord9at$ loans1 pur*ase s5ior &       
subord9at$ debt securities1 & ent] into 
a b9d+ commitm5t to make any su* loan or
 pur*ase any su* security1 ! proce$s (  
:i* are us$ to assi/ 9 ! f9anc+ or      
ref9anc+ ( ! developm5t ( #a or m core  

infra/ructure projects2  7,b7 to issue &
 sell debt securities ( ! ,bank on su*  
t]ms z ! ,bo>d det]m9es to be           
appropriate2  7,c7 to issue public      
b5efit bonds & provide f9anc+ to core   
infra/ructure projects f am\nts made    
available f ! issuance ( ^? bonds2  7,d7
 to make loan gu>antees2  7,e7 to ent]  
into agreem5ts or contracts ) any       
individual or entity 9 support ( !      
bus9ess ( ! ,bank2  7,f7 to pur*ase 9 ! 
op5 m>ket any out/&+ obligation ( !     
,bank at any "t & at any price2  7,g7 to
 acquire1 lease1 pl$ge1 ex*ange1 &      
dispose ( real & p]sonal prop]ty &      
o!rwise ex]cise all ! usual incid5ts (  
own]%ip ( prop]ty to ! ext5t ! ex]cise (
 ^? p[]s are appropriate to1 & consi/5t 
)1 ! purposes ( ! ,bank2  7,h7 to sue & 
be su$ 9 a 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 t prop]ty2
  7,i7 to indemnify ! memb]s ( ! ,bo>d =

 liabilities aris+ out ( ! actions ( !  
,bo>d1 9 accordance )1 & subject to !   
limitations conta9$ 91 ?is ,act2 &  7,j7
 to ex]cise all o!r lawful p[]s t are   
necess>y or appropriate to c>ry out1 &  
are consi/5t )1 ! purposes ( ! ,bank4   
7#d7 ,limitations  7,a7 ,issuance ( debt
 security ,! ,bo>d may n issue any debt 
security )\t ! cons5t ( ! ,secret>y4    
7,b7 ,issuance ( vot+ security ,! ,bo>d 
may n issue any vot+ security 9 ! ,bank4
  7c7 ,audits2 reports  7#a7 ,acc\nt+ ,!
 book ( acc\nts ( ! ,bank %all be-- 7,a7
 ma9ta9$ 9 accordance ) g5]ally accept$ 
acc\nt+ pr9ciples2 &  7,b7 subject to an
 annual audit by an indep5d5t public    
acc\ntant t is-- 7i7 appo9t$ by ! ,bo>d2
 &  7ii7 ( nationally recogniz$ /&+4    
7#b7 ,reports ,n lat] ?an #ij days aft] 
! la/ day ( ea* fiscal ye> dur+ :i* !   
,bank is 9 op]ation1 ! ,bo>d %all submit
 to ! ,presid5t & ! appropriate         
committees ( ,congress a report t       
describes1 ) respect to ! prec$+ fiscal 
ye>--  7,a7 ! op]ations ( ! ,bank2  7,b7

 a s*$ule ( ! obligations & out/&+      
capital securities ( ! ,bank1 toge!r ) a
 /atem5t ( ! am\nts issu$ & r$eem$ or   
paid dur+ t fiscal ye>2 &  7,c7 ! /atus 
( core 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 ^? core infra/ructure projects4
  7#c7 ,books & records  7,a7 ,9 g5]al  
,! ,bank %all ma9ta9 adequate books &   
records to support ! f9ancial           
transactions ( ! ,bank1 includ+ a       
description1 to be ma9ta9$ on a         
publically accessible database1 (--  7i7
 ea* f9ancial transaction ( ! ,bank &   
ea* core infra/ructure project t        
receives fund+ f ! ,bank2 &  7ii7 !     
am\nt ( fund+ = ea* core infra/ructure  
project4  7,b7 ,audits ,! books &       
records ( ! ,bank %all be--  7i7 ma9ta9$
 9 accordance ) recomm5d$ acc\nt+       
practices2 &  7ii7 op5 to inspection by 
! ,comptroll] ,g5]al ( ! ,unit$ ,/ates4 
#ajb4 ,/ate remittance agreem5ts ) ,bank

  7a7 ,9 g5]al ,a ,/ate may ent] into an
 agreem5t ( n less ?an #c ye>s ) !      
,bank1 "u :i*-- 7#a7 ! ,/ate agrees to  
remit n less ?an #fj p]c5t ( ! total    
am\nt ( funds receiv$ by ! ,/ate 9 ea*  
ye> ( ! #c-ye> p]iod f ! ,f$]al         
,gov]nm5t = ,f$]al-aid highway          
activities "u sections #aai7;d7 &       
#acc7;b7 ( title #bc1 ,unit$ ,/ates     
,code2  7#b7 ! ,bo>d w issue to ! ,/ate 
funds f ! ,bank receiv$ "u section #bjb 
9 an am\nt equal to #ij p]c5t ( ! am\nt 
! ,/ate remitt$ to ! ,bank "u p>agraph  
7#a72 &  7#c7 ! ,/ate w use ! funds     
receiv$ f ! ,bank "u p>agraph 7#b7 to   
c>ry out core infra/ructure projects 9  
accordance ) subsection 7b74  7b7 ,/ate 
det]m9ation ( compliance ,not)/&+ any   
o!r provision ( law1 9 c>ry+ out a      
project "u subsection 7a77#c71 a ,/ate  
%all--  7#a7 h ! au?ority to det]m9e    
:e!r ! ,/ate is 9 compliance ) all      
,f$]al requirem5ts (--  7,a7            
environm5tal approvals relat+ to !      
project2  7,b7 environm5tal p]mits      

relat+ to ! project2  7,c7 section #cac 
( title #bc1 ,unit$ ,/ates ,code2  7,d7 
! developm5t & con/ruction ( ! project1 
includ+--  7i7 prelim9>y design2  7ii7  
"r-(-way acquisition2  7iii7 con/ruction
 eng9e]+2 &  7iv7 f9al acceptance ( !   
project2  7,e7 preapproval = prev5tative
 ma9t5ance projects & proc$ures2  7,f7  
project agreem5ts & modifications to    
project agreem5ts2 &  7,g7 consultant   
procurem5t s]vices relat+ to ! project2 
7#b7 assume responsibility ( & ov]sight 
duties ov] compliance ) ! requirem5ts   
describ$ 9 p>agraph 7#a72 &  7#c7 to !  
maximum ext5t practicable1 attempt to   
c>ry out ! project 9 compliance ) all   
,f$]al requirem5ts4  7c7 ,use (         
,/ate-,remitt$ funds  ,! ,bank %all use 
an am\nt equal to #aj p]c5t ( ! funds   
remitt$ to ! ,bank by ,/ates "u         
subsection 7a77#a7 to c>ry out section  
#ajc4  #ajc4 ,loans to ,/ates & units ( 
local gov]nm5t = transportation projects
  7a7 ,9 g5]al ,! ,bank may grant a loan
 to a ,/ate or a unit ( local gov]nm5t  

to c>ry out a core infra/ructure project
 9 compliance ) all applicable ,f$]al   
laws & requirem5ts4  7b7 ,submission (  
applications ,9 ord] to be eligible to  
receive a loan "u subsection 7a71 a     
,/ate or unit ( local gov]nm5t %all     
submit to ! ,bo>d an application at su* 
"t1 9 su* mann]1 & conta9+ su* in=mation
 z ! ,bo>d may reasonably require4  7c7 
,int]e/ rates = loans ,! ,bo>d %all--   
7#a7 set ! int]e/ rate = a loan provid$ 
"u subsection 7a72 &  7#b7 ensure t !   
int]e/ rate rema9s at a level t is m    
favorable ?an t ( simil> infra/ructure  
loans available on ! private m>ket4     
,,ii ,capitalization ( ,bank  #bja4     
,all[ance ( tempor>y divid5ds receiv$   
d$uction = divid5ds receiv$ f a         
controll$ =eign corporation  7a7        
,applicability ( tempor>y divid5ds      
receiv$ d$uction  7#a7 ,9 g5]al         
,subsection 7f7 ( section #ife ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  7f7 ,election  7#a7  
,9 g5]al ,! taxpay] may elect to apply  

?is section to ! #c-taxable ye> p]iod   
beg9n+ )--  7,a7 ! taxpay]'s la/ taxable
 ye> :i* beg9s be=e ! date ( ! enactm5t 
( ! ,build ,,usa ,act1 or  7,b7 !       
taxpay]'s fir/ taxable ye> :i* beg9s    
dur+ ! #a-ye> p]iod beg9n+ on su* date (
 enactm5t4  7#b7 ,"t = mak+ election    
,any election made "u ?is section %all  
be made on or be=e ! due date 7includ+  
ext5sions7 = fil+ ! return ( tax = !    
fir/ taxable ye> 9 ! #c-taxable ye>     
p]iod describ$ 9 p>agraph 7#a74  7#c7   
,decl>ation ( am\nt repatriat$ ,an      
election "u ?is section %all designate a
 limitation ( ! aggregate am\nt (       
divid5ds to be tak5 into acc\nt "u      
subsection 7a7 dur+ ! #c-taxable ye>    
p]iod4  4  7#b7 ,con=m+ am5dm5ts  7,a7  
,extraord9>y divid5ds ,section          
#ife7;b77#b7 ( su* ,code is am5d$ by    
/rik+ ,june #cj1 #bjjc & ins]t+ ,decemb]
 #ca1 #bjad1 &  7,b7 ,det]m9ations      
relat+ to relat$ p>ty indebt$ness       
,section #ife7;b77#c77;,b7 ( su* ,code  
is am5d$ by /rik+ ,octob] #c1 #bjjd &   

ins]t+ ,decemb] #ca1 #bjad4  7,c7       
,det]m9ations relat+ to base p]iod      
,section #ife7;c77#b7 ( su* ,code is    
am5d$ by /rik+ ,june #cj1 #bjjc & ins]t+
 ,decemb] #ca1 #bjad4  7b7 ,am\nt (     
d$uction ,p>agraph 7#a7 ( section       
#ife7;a7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by /rik+ #he p]c5t &     
ins]t+ #ha4d p]c5t4  7c7 ,effective date
 ,! am5dm5ts made by ?is section %all   
apply to taxable ye>s end+ aft] ! date (
 ! enactm5t ( ?is ,act4  #bjb4          
,appropriations to ,bank  7a7 ,e/imation
 ( rev5ues f repatriation ,n lat] ?an   
#fj days aft] ! date ( enactm5t ( ?is   
,act1 ! ,secret>y ( ! ,treasury 7or !   
,secret>y's delegate7 %all e/imate !    
increase 9 ! am\nt ( rev5ues to be      
receiv$ 9 ! ,treasury aft] ! date (     
enactm5t ( ?is ,act & be=e ,octob] #a1  
#bjai1 attributable to ! am5dm5ts made  
by ?is title4  7b7 ,appropriation ,out (
 any money 9 ! ,treasury n o!rwise      
appropriat$1 !re is h]eby appropriat$ to
 ! ,bank an am\nt equal to ! am\nt      

describ$ 9 subsection 7a71 to rema9     
available until exp5d$4