,,ii #aad? ,,congress #a/ ,session ,s4 #bfh ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,janu>y #bg1 #bjae ,mr4 ,s&]s 7= himself & ,ms4 ,mikulski7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to improve ! infra/ructure ( ! ,unit$ ,/ates1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,rebuild ,am]ica ,act ( #bjae4 7b7 ,table ( cont5ts ,! table ( cont5ts ( ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4 ,sec4 #b4 ,non-,f$]al co/ %>e ( affect$ programs4 ,,title ,i--,infra/ructure programs ,sec4 #aja4 ,transportation infra/ructure4 ,sec4 #ajb4 ,wat] infra/ructure4 ,sec4 #ajc4 ,national ,p>k ,s]vice4 ,sec4 #ajd4 ,miscellane\s infra/ructure4 ,sec4 #aje4 ,ma9t5ance ( fund+2 adm9i/rative exp5ses4 ,,title ,,ii--,national infra/ructure bank ,sec4 #bja4 ,def9itions4 ,sec4 #bjb4 ,e/abli%m5t ( ,national ,infra/ructure ,developm5t ,bank4 ,sec4 #bjc4 ,bo>d ( ,directors4 ,sec4 #bjd4 ,executive committee4 ,sec4 #bje4 ,risk managem5t committee4 ,sec4 #bjf4 ,audit committee4 ,sec4 #bjg4 ,p]sonnel4 ,sec4 #bjh4 ,eligibility crit]ia = assi/ance f ,bank4 ,sec4 #bji4 ,exemption f local taxation4 ,sec4 #baj4 ,/atus & applicability ( c]ta9 ,f$]al laws2 full fai? & cr$it4 ,sec4 #baa4 ,compliance ) ,davis-,bacon ,act & c]ta9 grant requirem5ts4 ,sec4 #bab4 ,use ( iron1 /eel1 & manufactur$ goods 9 infra/ructure projects4 ,sec4 #bac4 ,compliance ) c]ta9 dome/ic cont5t laws4 ,sec4 #bad4 ,applicability ( c]ta9 ,/ate laws4 ,sec4 #bae4 ,audits2 reports to ,presid5t & ,congress4 ,sec4 #baf4 ,capitalization ( ,bank4 #b4 ,non-,f$]al co/ %>e ( affect$ programs ,not)/&+ any o!r provision ( law 7includ+ regulations71 ! non-,f$]al %>e ( ! co/ ( any activity c>ri$ out us+ funds provid$ by ?is ,act or an am5dm5t made by ?is ,act %all be an am\nt equal to ! product obta9$ by multiply+-- 7#a7 ! non-,f$]al co/ %>e ( ! activity1 z 9 effect on ! day be=e ! date ( enactm5t ( ?is ,act2 & 7#b7 #j4e4 ,i ,infra/ructure programs #aja4 ,transportation infra/ructure 7a7 ,highway ,tru/ ,fund ,out ( funds ( ! ,treasury n o!rwise appropriat$1 9 addition to any o!r funds made available = ! ,highway ,tru/ ,fund1 !re is appropriat$ #ge1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjbb to ! ,highway ,tru/ ,fund to improve roads1 bridges1 & o!r transportation infra/ructure 9 ! ,unit$ ,/ates4 7b7 ,int]city pass5g] & high-,spe$ rail s]vice ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #ae1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,secret>y ( ,transportation-- 7#a7 to make qu>t]ly grants to ! ,national ,railroad ,pass5g] ,corporation = ! op]ation ( int]city pass5g] rail1 z au?oriz$ by section #aja ( ! ,pass5g] ,rail ,inve/m5t & ,improvem5t ,act ( #bjjh 7division ,b ( ,public ,law #aaj-dcb2 #abb ,/at4 #dijh72 7#b7 to make discretion>y grants to ,/ates to pay ! co/ ( projects describ$ 9 subp>agraphs 7,a7 & 7,b7 ( section #bddja7b7 ( title #di1 ,unit$ ,/ates ,code1 & section #bdaje7;b7 ( t title1 subject to ! condition t ! ,secret>y ( ,transportation %all give priority to projects t support ! developm5t ( int]city high-spe$ rail s]vice2 & 7#c7 to c>ry out section #ecji ( title #di1 ,unit$ ,/ates ,code4 7c7 ,transportation infra/ructure f9ance & innovation ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #b1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to provide cr$it assi/ance = surface transportation projects ( national & regional significance 9 accordance ) *apt] #f ( title #bc1 ,unit$ ,/ates ,code4 7d7 ,airport improvem5t ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #b1ejj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to implem5t airport improvem5t & noise compatibility projects at public-use airports 9 accordance ) sub*apt] ,i ( *apt] #dga ( title #di1 ,unit$ ,/ates ,code4 7e7 ,next ,g5]ation ,air ,transportation ,sy/em ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #c1ejj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,next ,g5]ation ,air ,transportation ,sy/em ,jo9t ,plann+ & ,developm5t ,(fice ( ! ,f$]al ,aviation ,adm9i/ration to accel]ate deploym5t ( satellite te*nology to improve airport safety & capacity4 7f7 ,national infra/ructure inve/m5ts ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #e1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai = ! discretion>y grant program "u title ,i ( division ,k ( ! ,consolidat$ & ,fur!r ,cont9u+ ,appropriations ,act1 #bjae 7,public ,law #aac-bce7 7commonly ref]r$ to z ! ,,tig] ,discretion>y ,grant ,program71 subject to ! condition t1 = projects c>ri$ out "u t program t are locat$ 9 rural areas1 ! ,secret>y ( ,transportation may increase ! ,f$]al %>e ( ! co/s ( ! project to #ajj p]c5t4 #ajb4 ,wat] infra/ructure 7a7 ,/ate wat] pollution control revolv+ funds ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #f1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy to make capitalization grants to ,/ates = ! purpose ( e/abli%+ wat] pollution control revolv+ funds "u title ,,vi ( ! ,f$]al ,wat] ,pollution ,control ,act 7#cc ,u4,s4,c4 #acha et seq474 7b7 ,/ate dr9k+ wat] treatm5t revolv+ loan funds ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #f1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy to make capitalization grants to ,/ates = ! purpose ( e/abli%+ dr9k+ wat] treatm5t revolv+ loan funds "u section #adeb7;a7 ( ! ,safe ,dr9k+ ,wat] ,act 7#db ,u4,s4,c4 #cjj;j-#ab7;a774 7c7 ,wat] infra/ructure f9ance & innovation ,out ( funds ( ! ,treasury n o!rwise appropriat$1 9 addition to ! am\nts made available "u section #ejcc7;a7 ( ! ,wat] ,infra/ructure ,f9ance & ,innovation ,act ( #bjad 7#cc ,u4,s4,c4 #ciab7;a771 !re is appropriat$ #b1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy to provide long-t]m1 l[-int]e/ loans = l>ge wat] infra/ructure projects t are n eligible = fund+ f a ,/ate revolv+ loan fund1 9 accordance ) ! ,wat] ,infra/ructure ,f9ance & ,innovation ,act ( #bjad 7#cc ,u4,s4,c4 #cija et seq474 7d7 ,non-,f$]al dams & levees ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #b1jjj1jjj1jjj to ! ,director ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy to c>ry out ! pr$isa/] haz>d mitigation program "u section #bjc ( ! ,rob]t ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4 #eacc7 = ea* ( fiscal ye>s #bjae ?r\gh #bjai =-- 7#a7 m9or localiz$ flood r$uction projects2 & 7#b7 major flood risk r$uction projects4 7e7 ,inl& wat]ways ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #a1ejj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,con/ruction ,acc\nt ( ! ,corps ( ,eng9e]s = ! con/ruction1 replacem5t1 rehabilitation1 & expansion ( inl& wat]ways projects to improve ! movem5t & transport ( goods1 subject to ! condition t1 not)/&+ any o!r provision ( law1 none ( ! am\nts provid$ by ?is subsection may be co/-%>$ ) any am\nts f ! ,inl& ,wat]ways ,tru/ ,fund e/abli%$ by section #iejf7;a7 ( ! ,int]nal ,rev5ue ,code ( #aihf4 7f7 ,h>bor ma9t5ance ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #a1ejj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,op]ation & ,ma9t5ance ,acc\nt ( ! ,corps ( ,eng9e]s = ! eligible op]ations & ma9t5ance co/s ( all coa/al h>bors & *annels & = inl& h>bors to improve ! movem5t ( goods ?r\gh m>9e ports 9 ! ,unit$ ,/ates4 7g7 ,dams & levees 7#a7 ,9 g5]al ,subject to p>agraph 7#b71 out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #aj1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,con/ruction ,acc\nt ( ! ,corps ( ,eng9e]s = ! foll[+ activities3 7,a7 ,activities fall+ )9 ,dam ,safety & ,levee ,safety ,action ,classifications #a1 #b1 & #c4 7,b7 ,activities au?oriz$ by subtitle ,b ( title ,,iii ( ! ,wat] ,res\rces ,re=m & ,developm5t ,act ( #bjad 7,public ,law #aac-aba2 #abh ,/at4 #abhd7 7includ+ ! am5dm5ts made by t subtitle74 7,c7 ,assi/ance = flood damage r$uction activities au?oriz$ by ! ,wat] ,infra/ructure ,f9ance & ,innovation ,act ( #bjad 7#cc ,u4,s4,c4 #cija et seq474 7#b7 ,requirem5ts ,! ,secret>y ( ! ,army1 act+ ?r\gh ! ,*ief ( ,eng9e]s-- 7,a7 may use ! funds appropriat$ pursuant to ?is subsection to c>ry out au?oriz$ flood damage r$uction & coa/al /orm damage r$uction activities1 includ+ ! activities au?oriz$ by-- 7i7 section #ajja ( ! ,wat] ,res\rces ,developm5t ,act ( #bjjg 7,public ,law #aaj-aad2 #aba ,/at4 #ajdi72 & 7ii7 section #gjjb ( ! ,wat] ,res\rces ,re=m & ,developm5t ,act ( #bjad 7,public ,law #aac-aba2 #abh ,/at4 #acfd72 & 7,b7 %all h unlimit$ reprogramm+ au?ority ) respect to ^? funds4 #ajc4 ,national ,p>k ,s]vice ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #c1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai =-- 7#a7 exp5ses necess>y = ! managem5t1 op]ation1 & ma9t5ance ( areas & facilities adm9i/]$ by ! ,national ,p>k ,s]vice2 & 7#b7 ! g5]al adm9i/ration ( ! ,national ,p>k ,s]vice4 #ajd4 ,miscellane\s infra/ructure 7a7 ,broadb& initiatives program ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #b1ejj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai = ! broadb& initiatives program e/abli%$ "u title ,,vi ( ! ,rural ,electrification ,act ( #aicf 7#g ,u4,s4,c4 #iej;bb et seq47 to exp& ! access & quality ( broadb& s]vice across ! rural ,unit$ ,/ates4 7b7 ,broadb& te*nology opportunities program ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #b1ejj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,assi/ant ,secret>y ( ,comm]ce = ,communications & ,in=mation to make grants = purposes ( ! ,broadb& ,te*nology ,opportunities ,program e/abli%$ "u section #fjja7;a7 ( ! ,am]ican ,recov]y & ,re9ve/m5t ,act ( #bjji 7#dg ,u4,s4,c4 #acje7;a771 includ+ provid+ access & improv+ broadb& s]vice to und]s]v$ areas ( ! ,unit$ ,/ates4 7c7 ,electric grid ,out ( funds ( ! ,treasury n o!rwise appropriat$1 !re is appropriat$ #aj1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai to ! ,secret>y ( ,en]gy = exp5ses necess>y =-- 7#a7 electricity deliv]y & en]gy reliability activities to mod]nize ! electric grid1 includ+ activities relat+ to-- 7,a7 dem& responsive equipm5t2 7,b7 enhanc$ security & reliability ( ! en]gy infra/ructure2 7,c7 en]gy /orage rese>*1 developm5t1 demon/ration1 & deploym5t2 & 7,d7 facilitat+ recov]y f disruptions to ! en]gy supply2 & 7#b7 implem5tation ( ! programs au?oriz$ "u title ,,xiii ( ! ,en]gy ,indep5d5ce & ,security ,act ( #bjjg 7#db ,u4,s4,c4 #agcha et seq474 #aje4 ,ma9t5ance ( fund+2 adm9i/rative exp5ses 7a7 ,ma9t5ance ( fund+ ,! fund+ provid$ to any program or acc\nt "u ?is title %all supplem5t 7& n supplant7 any fund+ provid$ = t program or acc\nt "u any o!r provision ( law4 7b7 ,adm9i/rative exp5ses ,not)/&+ any o!r provision ( law 7includ+ regulations71 a ,f$]al dep>tm5t or ag5cy t receives funds pursuant to ?is ,act may use n m ?an #e p]c5t ( ! funds = adm9i/rative exp5ses4 ,,ii ,national infra/ructure bank #bja4 ,def9itions ,= purposes ( ?is title1 ! foll[+ def9itions %all apply1 unless ! context requires o!rwise3 7#a7 ,bank ,! t]m ,bank means ! ,national ,infra/ructure ,developm5t ,bank e/abli%$ "u section #bjb7;a74 7#b7 ,bo>d ,! t]m ,bo>d means ! ,national ,infra/ructure ,developm5t ,bank ,bo>d4 7#c7 ,*ief asset & liability managem5t (fic] ,! t]m *ief asset & liability managem5t (fic] means ! *ief individual responsible = coord9at+ ! managem5t ( assets & liabilities ( ! ,bank4 7#d7 ,*ief compliance (fic] ,! t]m *ief compliance (fic] or ,,cco means ! *ief individual responsible = ov]see+ & manag+ ! compliance & regulatory affairs issues ( ! ,bank4 7#e7 ,*ief f9ancial (fic] ,! t]m *ief f9ancial (fic] or ,,cfo means ! *ief individual responsible = manag+ ! f9ancial risks1 plann+1 & report+ ( ! ,bank4 7#f7 ,*ief loan orig9ation (fic] ,! t]m *ief loan orig9ation (fic] means ! *ief individual responsible = ! process+ ( new loans provid$ by ! ,bank4 7#g7 ,*ief op]ations (fic] ,! t]m *ief op]ations (fic] or ,,coo means ! *ief individual responsible = in=mation te*nology & ! day-to-day op]ations ( ! ,bank4 7#h7 ,*ief risk (fic] ,! t]m *ief risk (fic] or ,,cro means ! *ief individual responsible = manag+ op]ational & compliance-relat$ risks ( ! ,bank4 7#i7 ,*ief treasury (fic] ,! t]m *ief treasury (fic] means ! *ief individual responsible = manag+ ! ,bank's treasury op]ations4 7#aj7 ,develop2 developm5t ,! t]ms develop & developm5t mean1 ) respect to an infra/ructure project1 any-- 7,a7 precon/ruction plann+1 feasibility review1 p]mitt+1 design "w1 & o!r precon/ruction activities2 & 7,b7 con/ruction1 recon/ruction1 rehabilitation1 replacem5t1 or expansion4 7#aa7 ,disadvantag$ community ,! t]m disadvantag$ community means a community ) a m$ian h\sehold income ( less ?an #hj p]c5t ( ! /atewide m$ian h\sehold income = ! ,/ate 9 :i* ! community is locat$4 7#ab7 ,en]gy infra/ructure project ,! t]m en]gy infra/ructure project means any project = en]gy transmission1 en]gy effici5cy enhancem5t = build+s1 public h\s+ & f$]ally assi/$ multifamily h\s+1 & s*ools1 r5ewable en]gy1 & en]gy /orage4 7#ac7 ,entity ,! t]m entity means an individual1 corporation1 p>tn]%ip 7includ+ a public-private p>tn]%ip71 jo9t v5ture1 tru/1 & a ,/ate or o!r gov]nm5tal entity1 includ+ a political subdivision or any o!r in/rum5tality ( a ,/ate or a revolv+ fund4 7#ad7 ,environm5tal infra/ructure project ,! t]m environm5tal infra/ructure project means any project = ! e/abli%m5t1 ma9t5ance1 or enhancem5t ( any dr9k+ wat] & wa/ewat] treatm5t facility1 /orm wat] managem5t sy/em1 dam1 levee1 op5 space managem5t sy/em1 solid wa/e disposal facility1 haz>d\s wa/e facility1 indu/rial site cleanup1 or r$evelopm5t ( a ,br[nfield site 7z def9$ 9 section #aja ( ! ,compreh5sive ,environm5tal ,response1 ,comp5sation1 & ,liability ,act ( #aihj 7#db ,u4,s4,c4 #ifja774 7#ae7 ,executive director ,! t]m executive director means ! individual s]v+ z ! *ief executive (fic] ( ! ,bank4 7#af7 ,g5]al c\nsel ,! t]m g5]al c\nsel means ! individual :o s]ves z ! *ief lawy] = ! ,bank4 7#ag7 ,infra/ructure project ,! t]m infra/ructure project means any en]gy1 environm5tal1 telecommunications1 data1 or transportation infra/ructure project4 7#ah7 ,public b5efit bond ,! t]m public b5efit bond means a bond issu$ ) respect to an infra/ructure project 9 accordance ) ?is title if-- 7,a7 ! net sp5dable proce$s f ! sale ( ! issue may be us$ = exp5ditures incurr$ aft] ! date ( issuance ) respect to ! project1 subject to ! rules ( ! ,bank2 7,b7 ! bond issu$ by ! ,bank is 9 regi/]$ =m & meets ! requirem5ts ( ?is title & o!rwise applicable law2 7,c7 ! t]m ( ea* bond :i* is "p ( ! issue is great] ?an #cj ye>s2 & 7,d7 ! paym5t ( pr9cipal ) respect to ! bond is ! obligation ( ! ,bank4 7#ai7 ,public-private p>tn]%ip ,! t]m public-private p>tn]%ip means any entity-- 7,a7 7i7 :i* is und]tak+ ! developm5t ( all or "p ( an infra/ructure project1 :i* w h a public b5efit1 pursuant to requirem5ts e/abli%$ 9 "o or m contracts betwe5 ! entity & a ,/ate or an in/rum5tality ( a ,/ate2 or 7ii7 ! activities ( :i*1 ) respect to su* an infra/ructure project1 are subject to regulation by a ,/ate or any in/rum5tality ( a ,/ate2 & 7,b7 :i* owns1 leases1 or op]ates1 or w own1 lease1 or op]ate1 ! project 9 :ole or 9 "p1 & at lea/ "o ( ! p>ticipants 9 ! entity is a nongov]nm5tal entity4 7#bj7 ,revolv+ fund ,! t]m revolv+ fund means a fund or program e/abli%$ by a ,/ate or a political subdivision or o!r in/rum5tality ( a ,/ate1 ! pr9cipal activity ( :i* is to make loans1 commitm5ts1 or o!r f9ancial accommodation available = ! developm5t ( "o or m categories ( infra/ructure projects4 7#ba7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,treasury or ! designee ( ! ,secret>y4 7#bb7 ,sm>t grid ,! t]m sm>t grid means a sy/em t provides = any ( ! sm>t grid functions set =? 9 section #acjf7;d7 ( ! ,en]gy ,indep5d5ce & ,security ,act ( #bjjg 7#db ,u4,s4,c4 #agchf7;d774 7#bc7 ,sm>t gr[? ,! t]m sm>t gr[? means developm5t t avoids sprawl1 includ+ any activity-- 7,a7 relat+ to policy analysis 7su* z review+ ,/ate & local codes1 s*ool sit+ guidel9es1 & transportation policies7 or a public p>ticipatory process 7su* z vision+1 design work%ops1 alt]native analysis1 & build-out analysis72 & 7,b7 activities simil> to ^? c>ri$ out pursuant to ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t-,dep>tm5t ( ,transportation-,environm5tal ,protection ,ag5cy ,p>tn]%ip = ,su/a9able ,communities4 7#bd7 ,/ate ,! t]m ,/ate includes ! ,di/rict ( ,columbia1 ,pu]to ,rico1 ,guam1 ,am]ican ,samoa1 ! ,virg9 ,isl&s1 ! ,commonweal? ( ! ,nor!rn ,m>iana ,isl&s1 & any o!r t]ritory ( ! ,unit$ ,/ates4 7#be7 ,telecommunications infra/ructure project 7,a7 ,9 g5]al ,! t]m telecommunications infra/ructure project means any project involv+ infra/ructure requir$ to provide in=mation by wire or radio4 7,b7 ,inclusions ,! t]m telecommunications infra/ructure project includes-- 7i7 a project c>ri$ out by a ,/ate1 c\nty1 or municipal ag5cy2 7ii7 a community-own$ project2 & 7iii7 any o!r project adm9i/]$ by a public provid]4 7#bf7 ,transportation infra/ructure project ,! t]m transportation infra/ructure project means any project = ! con/ruction1 ma9t5ance1 or enhancem5t ( highways1 roads1 bridges1 transit & int]modal sy/ems1 inl& wat]ways1 comm]cial ports1 airports1 int]city bus1 high-spe$ rail1 & freight rail sy/ems4 #bjb4 ,e/abli%m5t ( ,national ,infra/ructure ,developm5t ,bank 7a7 ,e/abli%m5t ( ,national ,infra/ructure ,developm5t ,bank ,! ,national ,infra/ructure ,developm5t ,bank is e/abli%$ z a :olly own$ ,gov]nm5t corporation subject to *apt] #ia ( title #ca1 ,unit$ ,/ates ,code 7commonly kn[n z ! ,gov]nm5t ,corporation ,control ,act71 except z o!rwise provid$ 9 ?is title4 7b7 ,responsibility ( ! ,secret>y ,! ,secret>y %all take su* action z may be necess>y to assi/ 9 implem5t+ ! e/abli%m5t ( ! ,bank 9 accordance ) ?is title4 7c7 ,con=m+ am5dm5t ,section #iaja7c7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ aft] subp>agraph 7,n7 ! foll[+3 7,o7 ! ,national ,infra/ructure ,developm5t ,bank4 4 #bjc4 ,bo>d ( ,directors 7a7 ,9 g5]al ,! ,bank %all h a ,bo>d ( ,directors consi/+ ( #e memb]s appo9t$ by ! ,presid5t1 by & ) ! advice & cons5t ( ! ,s5ate4 7b7 ,qualifications ,! directors ( ! ,bo>d %all include individuals repres5t+ diff]5t regions ( ! ,unit$ ,/ates &-- 7#a7 #b ( ! directors %all h public sector exp]i5ce2 & 7#b7 #c ( ! directors %all h private sector exp]i5ce4 7c7 ,*airp]son & vice *airp]son ,z designat$ at ! "t ( appo9tm5t1 "o ( ! directors ( ! ,bo>d %all be designat$ *airp]son ( ! ,bo>d by ! ,presid5t & "o %all be designat$ z vice *airp]son ( ! ,bo>d by ! ,presid5t4 7d7 ,t]ms 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b7 & subsection 7f71 ea* director %all be appo9t$ = a t]m ( #f ye>s4 7#b7 ,initial /agg]$ t]ms ,( ! initial memb]s ( ! ,bo>d-- 7,a7 ! *airp]son & vice *airp]son %all be appo9t$ = t]ms ( #f ye>s2 7,b7 #a %all be appo9t$ = a t]m ( #e ye>s2 7,c7 #a %all be appo9t$ = a t]m ( #d ye>s2 & 7,d7 #a %all be appo9t$ = a t]m ( #c ye>s4 7e7 ,date ( initial nom9ations ,! initial nom9ations by ! ,presid5t = appo9tm5t ( directors to ! ,bo>d %all be made n lat] ?an #fj days aft] ! date ( enactm5t ( ?is ,act4 7f7 ,vacancies 7#a7 ,9 g5]al ,a vacancy on ! ,bo>d %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7#b7 ,appo9tm5t to replace dur+ t]m ,any director appo9t$ to fill a vacancy occurr+ be=e ! expiration ( ! t]m = :i* ! director's pr$ecessor 0 appo9t$ %all be appo9t$ only = ! rema9d] ( ! t]m4 7#c7 ,duration ,a director may s]ve aft] ! expiration ( t director's t]m until a successor has tak5 (fice4 7g7 ,quorum ,?ree directors %all con/itute a quorum4 7h7 ,reappo9tm5t ,a director ( ! ,bo>d appo9t$ by ! ,presid5t may be reappo9t$ by ! ,presid5t 9 accordance ) ?is section4 7i7 ,p] diem reimbursem5t ,directors ( ! ,bo>d %all s]ve on a "p-"t basis & %all receive a p] diem :5 engag$ 9 ! actual p]=mance ( ,bank bus9ess1 plus reasonable reimbursem5t = travel1 subsi/5ce1 & o!r necess>y exp5ses incurr$ 9 ! p]=mance ( _! duties4 7j7 ,limitations ,a director ( ! ,bo>d may n p>ticipate 9 any review or decision affect+ a project "u consid]ation = assi/ance "u ?is title if ! director has or is affiliat$ ) a p]son :o has an int]e/ 9 su* project4 7k7 ,p[]s & limitations ( ! bo>d 7#a7 ,p[]s ,9 ord] to c>ry out ! purposes ( ! ,bank z set =? 9 ?is title1 ! ,bo>d %all be responsible = monitor+ & ov]see+ infra/ructure projects & h ! foll[+ p[]s3 7,a7 ,to make s5ior & subord9at$ loans & pur*ase s5ior & subord9at$ debt securities & ent] into a b9d+ commitm5t to make any su* loan or pur*ase any su* security1 on su* t]ms z ! ,bo>d may det]m9e1 9 ! ,bo>d's discretion1 to be appropriate1 ! proce$s ( :i* are to be us$ to f9ance or ref9ance ! developm5t ( "o or m infra/ructure projects4 7,b7 ,to issue & sell debt securities ( ! ,bank on su* t]ms z ! ,bo>d %all det]m9e f "t to "t4 7,c7 ,to issue public b5efit bonds & to provide direct subsidies to infra/ructure projects f am\nts made available f ! issuance ( su* bonds4 7,d7 ,to make loan gu>antees4 7,e7 ,to make agreem5ts & contracts ) any entity 9 fur!rance ( ! bus9ess ( ! ,bank4 7,f7 ,to borr[ on ! global capital m>ket & l5d to regional1 ,/ate1 & local entities1 & comm]cial banks = ! purpose ( fund+ infra/ructure projects4 7,g7 ,to pur*ase1 pool1 & sell infra/ructure-relat$ loans & securities on ! global capital m>ket4 7,h7 ,to pur*ase 9 ! op5 m>ket any ( ! ,bank's out/&+ obligations at any "t & at any price4 7,i7 ,to monitor & ov]see infra/ructure projects f9anc$1 9 :ole or 9 "p1 by ! ,bank4 7,j7 ,to acquire1 lease1 pl$ge1 ex*ange1 & dispose ( real & p]sonal prop]ty & o!rwise ex]cise all ! usual incid5ts ( own]%ip ( prop]ty to ! ext5t ! ex]cise ( su* p[]s are appropriate to & consi/5t ) ! purposes ( ! ,bank4 7,k7 ,to sue & be su$ 9 ! ,bank's corporate capacity 9 any c\rt ( compet5t jurisdiction1 except t no atta*m5t1 injunction1 or simil> process1 may be issu$ aga9/ ! prop]ty ( ! ,bank or aga9/ ! ,bank ) respect to su* prop]ty4 7,l7 ,to indemnify ! directors & (fic]s ( ! ,bank = liabilities aris+ out ( ! actions ( ! directors & (fic]s 9 su* capacity1 9 accordance )1 & subject to ! limitations conta9$ 9 ?is title4 7,m7 ,to s]ve z ! prim>y liaison betwe5 ! ,bank1 ,congress1 ! executive bran*1 & ,/ate & local gov]nm5ts & to repres5t ! ,bank's int]e/s4 7,n7 ,to ex]cise all o!r lawful p[]s :i* are necess>y or appropriate to c>ry out1 & are consi/5t )1 ! purposes ( ! ,bank4 7#b7 ,limitations 7,a7 ,issuance ( debt security ,! ,bo>d may n issue any debt security )\t ! prior cons5t ( ! ,secret>y4 7,b7 ,issuance ( vot+ security ,! ,bo>d may n issue any vot+ security 9 ! ,bank to any entity o!r ?an ! ,secret>y4 7,c7 ,employee protections ,prior to provid+ any f9ancial assi/ance = an infra/ructure project involv+ recon/ruction1 rehabilitation1 replacem5t1 or expansion t may affect curr5t employees on ! project site1 ! int]e/s ( ^? affect$ employees %all be protect$ 9 accordance ) su* arrangem5ts z ! ,secret>y ( ,labor det]m9es to be fair & equitable4 7#c7 ,actions consi/5t ) self-support+ entity /atus ,! ,bo>d %all conduct its bus9ess 9 a mann] consi/5t ) ! requirem5ts ( ?is section4 7#d7 ,coord9ation ) ,/ate & local regulatory au?ority ,! provision ( f9ancial assi/ance by ! ,bo>d pursuant to ?is title %all n be con/ru$ z-- 7,a7 limit+ ! "r ( any ,/ate or political subdivision or o!r in/rum5tality ( a ,/ate to approve or regulate rates ( return on private equity inve/$ 9 a project2 or 7,b7 o!rwise sup]s$+ any ,/ate law or regulation applicable to a project4 7#e7 ,f$]al p]sonnel reque/s ,! ,bo>d %all h ! p[] to reque/ ! detail1 on a reimbursable basis1 ( p]sonnel f o!r ,f$]al ag5cies ) specific exp]tise n available f )9 ! ,bank or else:]e4 ,! head ( any ,f$]al ag5cy may detail1 on a reimbursable basis1 any p]sonnel ( su* ag5cy reque/$ by ! ,bo>d & %all n )hold unreasonably ! detail ( any p]sonnel reque/$ by ! ,bo>d4 7l7 ,meet+s 7#a7 ,op5 to ! public2 notice ,all meet+s ( ! ,bo>d held to conduct ! bus9ess ( ! ,bank %all be op5 to ! public & %all be prec$$ by reasonable notice4 7#b7 ,initial meet+ ,! ,bo>d %all meet n lat] ?an #ij days aft] ! date on :i* all directors ( ! ,bo>d are fir/ appo9t$ & o!rwise at ! call ( ! ,*airp]son4 7#c7 ,exception = clos$ meet+s ,pursuant to su* rules z ! ,bo>d may e/abli% ?r\gh _! bylaws1 ! directors may close a meet+ ( ! ,bo>d if1 at ! meet+1 !re is likely to be disclos$ in=mation :i* c\ld adv]sely affect or lead to speculation relat+ to an infra/ructure project "u consid]ation = assi/ance "u ?is title or 9 f9ancial or securities or commodities m>kets or in/itutions1 utilities1 or real e/ate4 ,! det]m9ation to close any meet+ ( ! ,bo>d %all be made 9 a meet+ ( ! ,bo>d1 op5 to ! public1 & prec$$ by reasonable notice4 ,! ,bo>d %all prep>e m9utes ( any meet+ :i* is clos$ to ! public & make su* m9utes available z soon z ! consid]ations necessitat+ clos+ su* meet+ no long] apply4 #bjd4 ,executive committee 7a7 ,9 g5]al ,! ,bo>d %all h an executive committee consi/+ ( #i memb]s1 head$ by ! executive director ( ! ,bank4 7b7 ,executive director ,a majority ( ! ,bo>d %all h ! au?ority to appo9t & reappo9t ! executive director4 7c7 ,,ceo ,! executive director %all be ! *ief executive (fic] ( ! ,bank1 ) su* executive functions1 p[]s1 & duties z may be prescrib$ by ?is title1 ! bylaws ( ! ,bank1 or ! ,bo>d4 7d7 ,o!r executive (fic]s ,! ,bo>d %all appo9t1 remove1 fix ! comp5sation1 & def9e duties ( #h o!r executive (fic]s to s]ve on ! executive committee z !-- 7#a7 *ief compliance (fic]2 7#b7 *ief f9ancial (fic]2 7#c7 *ief asset & liability managem5t (fic]2 7#d7 *ief loan orig9ation (fic]2 7#e7 *ief op]ations (fic]2 7#f7 *ief risk (fic]2 7#g7 *ief treasury (fic]2 & 7#h7 g5]al c\nsel4 7e7 ,qualifications ,! executive director & o!r executive (fic]s %all h demon/rat$ exp]i5ce & exp]tise 9 "o or m ( ! foll[+3 7#a7 ,transportation infra/ructure4 7#b7 ,environm5tal infra/ructure4 7#c7 ,en]gy infra/ructure4 7#d7 ,telecommunications infra/ructure4 7#e7 ,economic developm5t4 7#f7 ,work=ce developm5t4 7#g7 ,public heal?4 7#h7 ,private or public f9ance4 7f7 ,duties ,9 ord] to c>ry out ! purposes ( ! ,bank z set =? 9 ?is title1 ! executive committee %all-- 7#a7 e/abli% disclosure & application proc$ures = entities nom9at+ projects = assi/ance "u ?is title2 7#b7 accept1 = consid]ation1 project proposals relat+ to ! developm5t ( infra/ructure projects1 :i* meet ! basic crit]ia e/abli%$ by ! ,bo>d1 & :i* are submitt$ by an entity2 7#c7 provide recomm5dations to ! ,bo>d & place project proposals accept$ by ! executive committee on a li/ = consid]ation = f9ancial assi/ance f ! ,bo>d2 & 7#d7 provide te*nical assi/ance to entities receiv+ f9anc+ f ! ,bank & o!rwise implem5t decisions ( ! ,bo>d4 7g7 ,vacancy ,a vacancy 9 ! position ( executive director %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7h7 ,comp5sation ,! comp5sation ( ! executive director & o!r executive (fic]s ( ! executive committee %all be det]m9$ by ! ,bo>d4 7i7 ,removal ,! executive director & o!r executive (fic]s may be remov$ at ! discretion ( a majority ( ! ,bo>d4 7j7 ,t]m ,! executive director & o!r executive (fic]s %all s]ve a #f-ye> t]m & may be reappo9t$ 9 accordance ) ?is section4 7k7 ,limitations ,! executive director & o!r executive (fic]s %all n-- 7#a7 hold any o!r public (fice2 7#b7 h any int]e/ 9 an infra/ructure project consid]$ by ! ,bo>d2 7#c7 h any int]e/ 9 an inve/m5t in/itution1 comm]cial bank1 or o!r entity seek+ f9ancial assi/ance = any infra/ructure project f ! ,bank2 & 7#d7 h any su* int]e/ dur+ ! #b-ye> p]iod beg9n+ on ! date su* (fic] ceases to s]ve 9 su* capacity4 #bje4 ,risk managem5t committee 7a7 ,e/abli%m5t ( risk managem5t committee ,! ,bank %all e/abli% a risk managem5t committee consi/+ ( #e memb]s1 head$ by ! *ief risk (fic]4 7b7 ,appo9tm5ts ,a majority ( ! ,bo>d %all h ! au?ority to appo9t & reappo9t ! ,,cro ( ! ,bank4 7c7 ,functions2 duties 7#a7 ,9 g5]al ,! ,,cro %all h su* functions1 p[]s1 & duties z may be prescrib$ by "o or m ( ! foll[+3 ?is title1 ! bylaws ( ! ,bank1 & ! ,bo>d4 ,! ,,cro %all report directly to ! ,bo>d4 7#b7 ,risk managem5t duties ,9 ord] to c>ry out ! purposes ( ?is title1 ! risk managem5t committee %all-- 7,a7 create f9ancial1 cr$it1 & op]ational risk managem5t guidel9es & policies to be adh]$ to by ! ,bank2 7,b7 set guidel9es to ensure div]sification ( l5d+ activities by bo? region & infra/ructure project type2 7,c7 create con=m+ /&>ds = infra/ructure f9ance securities2 7,d7 monitor f9ancial1 cr$it & op]ational exposure ( ! ,bank2 & 7,e7 provide f9ancial recomm5dations to ! ,bo>d4 7d7 ,o!r risk managem5t (fic]s ,! ,bo>d %all appo9t1 remove1 fix ! comp5sation1 & def9e ! duties ( #d o!r risk managem5t (fic]s to s]ve on ! risk managem5t committee4 7e7 ,qualifications ,! ,,cro & o!r risk managem5t (fic]s %all h demon/rat$ exp]i5ce & exp]tise 9 "o or m ( ! foll[+3 7#a7 ,treasury & asset & liability managem5t4 7#b7 ,inve/m5t regulations4 7#c7 ,insurance4 7#d7 ,cr$it risk managem5t & cr$it evaluations4 7#e7 ,relat$ discipl9es4 7f7 ,vacancy ,a vacancy 9 ! position ( ,,cro or any o!r risk managem5t (fic] %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7g7 ,comp5sation ,! comp5sation ( ! ,,cro & o!r risk managem5t (fic]s %all be det]m9$ by ! ,bo>d4 7h7 ,removal ,! ,,cro & any o!r risk managem5t (fic]s may be remov$ at ! discretion ( a majority ( ! ,bo>d4 7i7 ,t]m ,! ,,cro & o!r risk managem5t (fic]s %all s]ve a #f-ye> t]m & may be reappo9t$ 9 accordance ) ?is section4 7j7 ,limitations ,! ,,cro & o!r risk managem5t (fic]s %all n-- 7#a7 hold any o!r public (fice2 7#b7 h any int]e/ 9 an infra/ructure project consid]$ by ! ,bo>d2 7#c7 h any int]e/ 9 an inve/m5t in/itution1 comm]cial bank1 or o!r entity seek+ f9ancial assi/ance = any infra/ructure project f ! ,bank2 & 7#d7 h any su* int]e/ dur+ ! #b-ye> p]iod beg9n+ on ! date su* (fic] ceases to s]ve 9 su* capacity4 #bjf4 ,audit committee 7a7 ,9 g5]al ,! ,bank %all h an audit committee consi/+ ( #e memb]s1 head$ by ! *ief compliance (fic] ( ! ,bank4 7b7 ,appo9tm5ts ,a majority ( ! ,bo>d %all h ! au?ority to appo9t & reappo9t ! ,,cco ( ! ,bank4 7c7 ,functions2 duties ,! ,,cco %all h su* functions1 p[]s1 & duties z may be prescrib$ by "o or m ( ! foll[+3 ?is title1 ! bylaws ( ! ,bank1 & ! ,bo>d4 ,! ,,cco %all report directly to ! ,bo>d4 7d7 ,audit duties ,9 ord] to c>ry out ! purposes ( ! ,bank "u ?is title1 ! audit committee %all-- 7#a7 provide int]nal controls & int]nal audit+ activities = ! ,bank2 7#b7 ma9ta9 responsibility = ! acc\nt+ activities ( ! ,bank2 7#c7 issue f9ancial reports ( ! ,bank2 & 7#d7 complete reports ) outside auditors & public acc\ntants appo9t$ by ! ,bo>d4 7e7 ,o!r audit (fic]s ,! ,bo>d %all appo9t1 remove1 fix ! comp5sation1 & def9e ! duties ( #d o!r audit (fic]s to s]ve on ! audit committee4 7f7 ,qualifications ,! ,,cco & o!r audit (fic]s %all h demon/rat$ exp]i5ce & exp]tise 9 "o or m ( ! foll[+3 7#a7 ,int]nal audit+4 7#b7 ,int]nal inve/igations4 7#c7 ,acc\nt+ practices4 7#d7 ,f9anc+ practices4 7g7 ,vacancy ,a vacancy 9 ! position ( ,,cco or any o!r audit (fic] %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7h7 ,comp5sation ,! comp5sation ( ! ,,cco & o!r audit (fic]s %all be det]m9$ by ! ,bo>d4 7i7 ,removal ,! ,,cco & o!r audit (fic]s may be remov$ at ! discretion ( a majority ( ! ,bo>d4 7j7 ,t]m ,! ,,cco & o!r audit (fic]s %all s]ve a #f-ye> t]m & may be reappo9t$ 9 accordance ) ?is section4 7k7 ,limitations ,! ,,cco & o!r audit (fic]s %all n-- 7#a7 hold any o!r public (fice2 7#b7 h any int]e/ 9 an infra/ructure project consid]$ by ! ,bo>d2 7#c7 h any int]e/ 9 an inve/m5t in/itution1 comm]cial bank1 or o!r entity seek+ f9ancial assi/ance = any infra/ructure project f ! ,bank2 & 7#d7 h any su* int]e/ dur+ ! #b-ye> p]iod beg9n+ on ! date su* (fic] ceases to s]ve 9 su* capacity4 #bjg4 ,p]sonnel ,! *airp]son ( ! ,bo>d1 executive director1 *ief risk (fic]1 & *ief compliance (fic] %all appo9t1 remove1 fix ! comp5sation (1 & def9e ! duties ( su* qualifi$ p]sonnel to s]ve "u ! ,bo>d1 executive committee1 risk managem5t committee1 or audit committee1 z ! case may be1 z necess>y & prescrib$ by "o or m ( ! foll[+3 ?is title1 ! bylaws ( ! ,bank1 & ! ,bo>d4 #bjh4 ,eligibility crit]ia = assi/ance f ,bank 7a7 ,9 g5]al ,no f9ancial assi/ance %all be available "u ?is title f ! ,bank unless ! applicant = su* assi/ance has demon/rat$ to ! satisfaction ( ! ,bo>d t ! project = :i* su* assi/ance is be+ s\ght meets-- 7#a7 ! requirem5ts ( ?is title2 & 7#b7 any crit]ia e/abli%$ 9 accordance ) ?is title by ! ,bo>d4 7b7 ,e/abli%m5t ( project crit]ia 7#a7 ,9 g5]al ,consi/5t ) ! requirem5ts ( subsections 7c7 & 7d71 ! ,bo>d %all e/abli%-- 7,a7 crit]ia = det]m9+ eligibility = f9ancial assi/ance "u ?is title2 7,b7 disclosure & application proc$ures to be foll[$ by entities to nom9ate projects = assi/ance "u ?is title2 & 7,c7 su* o!r crit]ia z ! ,bo>d may consid] to be appropriate = purposes ( c>ry+ out ?is title4 7#b7 ,factors to be tak5 into acc\nt 7,a7 ,9 g5]al ,! ,bank %all conduct an analysis t takes into acc\nt ! economic1 environm5tal1 social b5efits1 & co/s ( ea* project "u consid]ation = f9ancial assi/ance "u ?is title1 prioritiz+ projects t contribute to economic gr[?1 lead to job creation1 & are ( regional or national significance4 7,b7 ,crit]ia ,! crit]ia e/abli%$ pursuant to p>agraph 7#a77;,a7 %all provide = ! consid]ation ( ! foll[+ factors 9 consid]+ eligibility = f9ancial assi/ance "u ?is title3 7i7 ,! means by :i* developm5t ( ! infra/ructure project "u consid]ation is be+ f9anc$1 includ+-- 7,i7 ! t]ms & conditions & f9ancial /ructure ( ! propos$ f9anc+2 & 7,,ii7 ! f9ancial assumptions & projections on :i* ! project is bas$4 7ii7 ,! likelihood t ! provision ( assi/ance by ! ,bank w cause su* developm5t to proce$ m promptly & ) l[] co/s = f9anc+ ?an w\ld be ! case )\t su* assi/ance4 7iii7 ,! ext5t to :i* ! provision ( assi/ance by ! ,bank maximizes ! level ( private inve/m5t 9 ! infra/ructure project :ile provid+ a public b5efit4 7c7 ,factors = specific types ( projects 7#a7 ,transportation infra/ructure projects ,= any transportation infra/ructure project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,job creation1 includ+ work=ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & quality job tra9+ opportunities4 7,b7 ,r$uction 9 c>bon emissions4 7,c7 ,r$uction 9 surface & air traffic conge/ion4 7,d7 ,sm>t gr[?4 7,e7 ,pov]ty & inequality r$uction ?r\gh t>get$ tra9+ & employm5t opportunities = l[-income work]s4 7,f7 ,public heal? b5efits4 7#b7 ,environm5tal infra/ructure project ,= any environm5tal infra/ructure project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,public heal? b5efits4 7,b7 ,pollution r$uctions4 7,c7 ,job creation1 includ+ work=ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & quality job tra9+ opportunities4 7,d7 ,pov]ty & inequality r$uction ?r\gh t>get$ tra9+ & employm5t opportunities = l[-income work]s4 7#c7 ,en]gy infra/ructure project ,= any en]gy infra/ructure project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,job creation1 includ+ work=ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & quality job tra9+ opportunities4 7,b7 ,pov]ty & inequality r$uction ?r\gh t>get$ tra9+ & employm5t opportunities = l[-income work]s4 7,c7 ,r$uction 9 c>bon emissions4 7,d7 ,sm>t gr[? 9 urban areas4 7,e7 ,exp&$ use ( r5ewable en]gy1 includ+ hydroelectric1 sol>1 & w9d4 7,f7 ,developm5t ( a sm>t grid4 7,g7 ,en]gy effici5t build+1 h\s+1 & s*ool mod]nization4 7,h7 ,9 any case 9 :i* ! project is also a public h\s+ project-- 7i7 improvem5t ( ! physical %ape & lay\t2 7ii7 environm5tal improvem5t2 & 7iii7 mobility improvem5ts = resid5ts4 7,i7 ,public heal? b5efits4 7#d7 ,telecommunications ,= any telecommunications project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,! ext5t to :i* assi/ance exp&s or improves broadb& & wireless s]vices 9 rural & disadvantag$ communities4 7,b7 ,pov]ty & inequality r$uction ?r\gh t>get$ tra9+ & employm5t opportunities = l[-income work]s4 7,c7 ,job creation1 includ+ "w =ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & quality job tra9+ opportunities4 7d7 ,consid]ation ( project proposals 7#a7 ,p>ticipation by o!r ag5cy p]sonnel ,consid]ation ( projects by ! executive committee & ! ,bo>d %all be conduct$ ) p]sonnel on detail to ! ,bank f relevant ,f$]al ag5cies f among individuals :o are famili> ) & exp]i5c$ 9 ! selection crit]ia = competitive projects4 7#b7 ,fees ,a fee may be *>g$ = ! review ( any project proposal 9 su* am\nt z maybe consid]$ appropriate by ! executive committee to cov] ! co/ ( su* review4 7e7 ,discretion ( ,bo>d ,consi/5t ) o!r provisions ( ?is title1 any det]m9ation ( ! ,bo>d to provide assi/ance to any project1 & ! mann] 9 :i* su* assi/ance is provid$1 includ+ ! t]ms1 conditions1 fees1 & *>ges %all be at ! sole discretion ( ! ,bo>d4 7f7 ,/ate & local p]mits requir$ ,! provision ( assi/ance by ! ,bo>d 9 accordance ) ?is title %all n be deem$ to relieve any recipi5t ( assi/ance or ! relat$ project ( any obligation to obta9 requir$ ,/ate & local p]mits & approvals4 7g7 ,annual report ,an entity receiv+ assi/ance f ! ,bo>d %all make annual reports to ! ,bo>d on ! use ( any su* assi/ance1 compliance ) ! crit]ia set =? 9 ?is section1 & a disclosure ( all entities ) a developm5t1 own]%ip1 or op]ational int]e/ 9 a project assi/$ or propos$ to be assi/$ "u ?is title4 #bji4 ,exemption f local taxation ,all notes1 deb5tures1 bonds or o!r su* obligations issu$ by ! ,bank1 & ! int]e/ on or cr$its ) respect to su* bonds or o!r obligations1 %all n be subject to taxation by any ,/ate1 c\nty1 municipality1 or local tax+ au?ority4 #baj4 ,/atus & applicability ( c]ta9 ,f$]al laws2 full fai? & cr$it 7a7 ,budget+ & auditors practices ,! ,bank %all comply ) all ,f$]al laws regulat+ ! budget>y & audit+ practices ( a gov]nm5t corporation1 except z o!rwise provid$ 9 ?is title4 7b7 ,full fai? & cr$it ,any bond or o!r obligation issu$ by ! ,bank "u ?is title %all be an obligation support$ by ! full fai? & cr$it ( ! ,unit$ ,/ates4 7c7 ,effect ( & exemptions f o!r laws 7#a7 ,exempt securities ,all debt securities & o!r obligations issu$ by ! ,bank pursuant to ?is title %all be deem$ to be exempt securities )9 ! mean+ ( laws adm9i/]$ by ! ,securities & ,ex*ange ,commission to ! same ext5t z securities :i* are direct obligations (1 or obligations fully gu>ante$ z to pr9cipal or int]e/ by1 ! ,unit$ ,/ates4 7#b7 ,op5 m>ket op]ations & ,/ate tax exempt /atus ,! obligations ( ! ,bank %all be deem$ to be obligations ( ! ,unit$ ,/ates = ! purposes ( ! provision designat$ z 7b77#b7 ( ! #bnd undesignat$ p>agraph ( section #ad ( ! ,f$]al ,res]ve ,act 7#ab ,u4,s4,c4 #cee7 & section #cabd ( title #ca1 ,unit$ ,/ates ,code4 7#c7 ,no priority z a ,f$]al claim ,! priority e/abli%$ 9 favor ( ! ,unit$ ,/ates by section #cgac ( title #ca1 ,unit$ ,/ates ,code1 %all n apply ) respect to any indebt$ness ( ! ,bank4 7d7 ,f$]al res]ve banks z depositories1 cu/odians1 & fiscal ag5ts ,! ,f$]al res]ve banks may act z depositories =1 or cu/odians or fiscal ag5ts (1 ! ,bank4 7e7 ,access to book-,entry sy/em ,! ,secret>y may au?orize ! ,bank to use ! book-entry sy/em ( ! ,f$]al res]ve sy/em4 #baa4 ,compliance ) ,davis-,bacon ,act & c]ta9 grant requirem5ts 7a7 ,davis-,bacon ,act ,all labor]s & me*anics employ$ by contractors & subcontractors on projects fund$ directly by or assi/$ 9 :ole or 9 "p by & ?r\gh ! ,bank pursuant to ?is title %all be paid wages at rates n less ?an ^? prevail+ on projects ( a "* simil> 9 ! locality z det]m9$ by ! ,secret>y ( ,labor 9 accordance ) sub*apt] ,,iv ( *apt] #ca ( "p ,a ( title #dj1 ,unit$ ,/ates ,code4 ,) respect to ! labor /&>ds specifi$ 9 ?is section1 ! ,secret>y ( ,labor %all h ! au?ority & functions set =? 9 ,reorganization ,plan ,numb]$ #ad ( #aiej 7#fd ,/at4 #abfg2 #e ,u4,s4,c4 ,app47 & section #cade ( title #dj1 ,unit$ ,/ates ,code4 7b7 ,grant requirem5ts ,a recipi5t ( f9ancial assi/ance provid$ pursuant to ?is ,act t funds any public transportation capital project 7z def9$ 9 section #ecjb ( title #di1 ,unit$ ,/ates ,code7 %all comply ) ! grant requirem5ts applicable to grants made "u section #ecji ( t title4 #bab4 ,use ( iron1 /eel1 & manufactur$ goods 9 infra/ructure projects 7a7 ,buy ,am]ica ,except z provid$ 9 subsection 7b71 none ( ! f9anc+ provid$ by ! ,bank may be us$ = a public infra/ructure project unless all ( ! iron1 /eel1 & manufactur$ goods us$ = ! con/ruction1 alt]ation1 ma9t5ance1 or repair ( ! project are produc$ 9 ! ,unit$ ,/ates4 7b7 ,exception ,subsection 7a7 %all n apply 9 any case or category ( cases 9 :i* ! ,secret>y det]m9es t-- 7#a7 apply+ subsection 7a7 w\ld be inconsi/5t ) ! public int]e/2 7#b7 iron1 /eel1 or a relevant manufactur$ good is n produc$ 9 ! ,unit$ ,/ates 9 suffici5t & reasonably available quantities & ( a satisfactory quality2 or 7#c7 ! inclusion ( iron1 /eel1 or a manufactur$ good produc$ 9 ! ,unit$ ,/ates w increase ! co/ ( ! ov]all infra/ructure project by m ?an #be p]c5t4 7c7 ,publication ( waiv]s ,if ! ,secret>y provides a waiv] ( ! requirem5ts ( subsection 7a7 bas$ on a det]m9ation "u subsection 7b71 ! ,secret>y %all publi% 9 ! ,f$]al ,regi/] a detail$ writt5 ju/ification ( ! reasons = ! waiv]4 7d7 ,applicability ,?is section %all be appli$ 9 a mann] consi/5t ) ! obligations ( ! ,unit$ ,/ates "u int]national agreem5ts4 7e7 ,consultation ,! ,secret>y %all consult ) ! ,bo>d & may consult ) ! ,secret>y ( ,transportation & ! head ( any o!r ,f$]al dep>tm5t or ag5cy 9 apply+ ?is section4 #bac4 ,compliance ) c]ta9 dome/ic cont5t laws ,! f9anc+ provid$ = an infra/ructure project %all be provid$ 9 accordance ) ! foll[+ provisions ( law subject to ! jurisdiction ( ! ,secret>y ( ,transportation3 7#a7 ,section #cac ( title #bc1 ,unit$ ,/ates ,code4 7#b7 ,section #ecbc7;j7 ( title #di1 ,unit$ ,/ates ,code4 7#c7 ,section #bdcje ( title #di1 ,unit$ ,/ates ,code4 7#d7 ,section #bddje ( title #di1 ,unit$ ,/ates ,code4 7#e7 ,sections #ejaja & #ejaje ( title #di1 ,unit$ ,/ates ,code4 #bad4 ,applicability ( c]ta9 ,/ate laws ,! receipt by any entity ( any assi/ance "u ?is title1 directly or indirectly1 & any f9ancial assi/ance provid$ by any gov]nm5tal entity 9 connection ) su* assi/ance "u ?is title %all be valid & lawful not)/&+ any ,/ate or local re/rictions reg>d+ ext5sions ( cr$it or o!r b5efits to private p]sons or entities1 or o!r simil> re/rictions4 #bae4 ,audits2 reports to ,presid5t & ,congress 7a7 ,acc\nt+ ,! books ( acc\nt ( ! ,bank %all be ma9ta9$ 9 accordance ) g5]ally accept$ acc\nt+ pr9ciples & %all be subject to an annual audit by indep5d5t public acc\ntants appo9t$ by ! ,bo>d & ( nationally recogniz$ /&+4 7b7 ,reports 7#a7 ,bo>d ,! ,bo>d %all submit to ! ,presid5t & ,congress1 )9 #ij days aft] ! la/ day ( ea* fiscal ye>1 a complete & detail$ report ) respect to ! prec$+ fiscal ye>1 sett+ =?-- 7,a7 a summ>y ( ! ,bank's op]ations1 = su* prec$+ fiscal ye>2 7,b7 a s*$ule ( ! ,bank's obligations & capital securities out/&+ at ! end ( su* prec$+ fiscal ye>1 ) a /atem5t ( ! am\nts issu$ & r$eem$ or paid dur+ su* prec$+ fiscal ye>2 & 7,c7 ! /atus ( projects receiv+ fund+ or o!r assi/ance pursuant to ?is title1 includ+ disclosure ( all entities ) a developm5t1 own]%ip1 or op]ational int]e/ 9 su* projects4 7#b7 ,,gao ,n lat] ?an #e ye>s aft] ! date ( enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ,congress a report evaluat+ activities ( ! ,bank = ! fiscal ye>s cov]$ by ! report t includes an assessm5t ( ! impact & b5efits ( ea* fund$ project1 includ+ a review ( h[ effectively ea* project accompli%$ ! goals prioritiz$ by ! ,bank's project crit]ia4 7c7 ,books & records 7#a7 ,9 g5]al ,! ,bank %all ma9ta9 adequate books & records to support ! f9ancial transactions ( ! ,bank ) a description ( f9ancial transactions & infra/ructure projects receiv+ fund+1 & ! am\nt ( fund+ = ea* project ma9ta9$ on a publically accessible database4 7#b7 ,audits by ! ,secret>y & ,,gao ,! books & records ( ! ,bank %all be ma9ta9$ 9 accordance ) recomm5d$ acc\nt+ practices & %all be op5 to inspection by ! ,secret>y & ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates4 #baf4 ,capitalization ( ,bank 7a7 ,au?orization ( appropriation ,subject to subsection 7b71 !re is au?oriz$ to be appropriat$ to ! ,secret>y = pur*ase ( ! %>es ( ! ,bank #e1jjj1jjj1jjj = ea* ( fiscal ye>s #bjae ?r\gh #bjai1 ) ! aggregate repres5t+ #aj p]c5t ( ! total subscrib$ capital ( ! ,bank4 7b7 ,res]vation = rural areas ,= ea* fiscal ye>1 n less ?an #bj p]c5t ( any am\nts appropriat$ to c>ry out ?is title %all be us$ to f9ance projects 9 rural areas4 7c7 ,callable capital ,( ! total subscrib$ capital ( ! ,bank1 #ij p]c5t %all be callable capital subject to call f ! ,secret>y only z & :5 requir$ by ! ,bank to meet its obligations on borr[+ ( funds = inclusion 9 its ord9>y capital res\rces or gu>antees *>geable to su* res\rces4