,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #affd  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #bb1 #bjag ,mr4  
,de,fazio introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,ways &      
,means1 & 9 addition to ! ,committee on 
,transportation & ,infra/ructure1 = a   
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to am5d 
! ,int]nal ,rev5ue ,code ( #aihf to     
index ! gas & diesel tax & rebuild our  
roads1 bridges1 & transit sy/ems4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,inve/+ 9 ,am]ica3 ,a ,p5ny = ,progress 
,act4  #b4 ,d\ble indexation ( gasol9e &
 diesel fuels tax  7a7 ,9 g5]al         
,p>agraph 7#b7 ( section #djha7;a7 ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new           
subp>agraph3  7,e7 ,index = highway     
con/ruction co/ inflation & fuel        
effici5cy  7i7 ,9 g5]al ,9 ! case ( any 
cal5d> ye> aft] #bjag1 ! #ah4c c5ts rate

 9 subp>agraph 7,a77i71 ! #bd4c c5ts    
rate 9 subp>agraph 7,a77iii71 & ! #ai4g 
c5ts rate 9 subp>agraph 7,d71 %all ea*  
be increas$ by an am\nt equal to-- 7,i7 
su* doll> am\nt1 multipli$ by  7,,ii7 ! 
d\ble indexation = ! cal5d> ye>4  ,any  
increase det]m9$ "u ?is subp>agraph %all
 be r\nd$ to ! ne>e/ t5? ( a c5t4  7ii7 
,exception = fuel us$ 9 aviation ,!     
adju/m5t "u clause 7i7 %all n apply )   
respect to ! rate ( tax "u subp>agraph  
7,a77iii7 = fuel ref]r$ to 9 subp>agraph
 7,c74  7iii7 ,special rules to /abilize
 rates  7,i7 ,if an adju/m5t ( rates "u 
clause 7i7 = a cal5d> ye> w\ld result 9 
rates 9 subp>agraphs 7,a77i71 7,a77iii71
 & 7,d7 9 effect = ! cal5d> ye> great]  
?an #a4e c5ts m ?an ! rates 9 effect "u 
su* subp>agraphs = ! prec$+ cal5d> ye>--
 7aa7 ! rates 9 subp>agraphs 7,a77i71   
7,a77iii71 & 7,d7 = ! cal5d> ye> %all be
 ! rates 9 effect "u su* subp>agraphs = 
! prec$+ cal5d> ye> plus #a4e c5ts1     
7bb7 any adju/m5t ( rates t w\ld h      
occurr$ "u clause 7i7 if item 7aa7 7 n 9

 effect %all be appli$ "u t clause--    
7,,aa7 9 ! succe$+ cal5d> ye> or ye>s   
aft] ! rate is e/abli%$ "u clause 7i7 = 
t ye>1 & 7,,bb7 until ! cumulative      
adju/m5t ( rates equals ! adju/m5t t    
w\ld h appli$ "u clause 7i7 if item 7aa7
 7 n 9 effect1 &  7cc7 an adju/m5t (    
rates "u item 7bb7 rema9s subject to    
item 7aa74  7,,ii7 ,if an adju/m5t (    
rates "u clause 7i7 = a cal5d> ye> w\ld 
result 9 rates 9 subp>agraphs 7,a77i71  
7,a77iii71 & 7,d7 9 effect = ! cal5d>   
ye> less ?an ! rates 9 effect "u su*    
subp>agraphs = ! prec$+ cal5d> ye>--    
7aa7 no adju/m5t ( su* rates %all be    
made = ! cal5d> ye>1 &  7bb7 ! rates 9  
subp>agraphs 7,a77i71 7,a77iii71 & 7,d7 
= ! cal5d> ye> %all be ! rates 9 effect 
"u su* subp>agraphs = ! prec$+ cal5d>   
ye>4  7iv7 ,d\ble indexation ,= purposes
 ( clause 7i71 ! d\ble indexation = any 
cal5d> ye> is ! sum (--  7,i7 ! highway 
con/ruction co/ adju/m5t1 &  7,,ii7 !   
,,cafe fuel sav$ adju/m5t4  7v7 ,highway
 con/ruction co/ adju/m5t ,= purposes ( 

clause 7iv71 ! highway con/ruction co/  
adju/m5t = any cal5d> ye> is ! p]c5tage 
7if any7 by :i*-- 7,i7 ! ,national      
,highway ,con/ruction ,co/ ,index = !   
prec$+ cal5d> ye>1 exce$s  7,,ii7 !     
,national ,highway ,con/ruction ,co/    
,index = cal5d> ye> #bjaf or1 if        
applicable1 ! fir/ ye> ( a successor    
index4  7vi7 ,national ,highway         
,con/ruction ,co/ ,index = any cal5d>   
ye> ,= purposes ( clause 7v71 !         
,national ,highway ,con/ruction ,co/    
,index = any cal5d> ye> is ! av]age ( ! 
,national ,highway ,con/ruction ,co/    
,index z ( ! close ( ! #ab-mon? p]iod   
end+ on ,june #cj ( su* cal5d> ye>4     
7vii7 ,national ,highway ,con/ruction   
,co/ ,index ,= purposes ( clause 7v71 ! 
t]m ,national ,highway ,con/ruction ,co/
 ,index means ! la/ ,national ,highway  
,con/ruction ,co/ ,index publi%$ by !   
,dep>tm5t ( ,transportation or successor
 index4  7viii7 ,,cafe fuel sav$        
adju/m5t ,= purposes ( clause 7iv71 !   
,,cafe fuel sav$ adju/m5t = a cal5d> ye>

 is ! p]c5tage 7if any7 by :i* annual   
motor fuel use is r$uc$ by ! e/imat$    
,,cafe fuel sav$ = t cal5d> ye> f !     
annual motor fuel use = ! prior cal5d>  
ye>4  7ix7 ,e/imat$ ,,cafe fuel sav$ ,! 
t]m e/imat$ ,,cafe fuel sav$ = a cal5d> 
ye> means-- 7,i7 ,9 ! case ( ! #ah4c    
c5ts rate 9 subp>agraph 7,a77i71 !      
comb9$ gasol9e fuel sav$ e/imates issu$ 
by ! ,national ,highway ,traffic ,safety
 ,adm9i/ration & ! ,environm5tal        
,protection ,ag5cy = pass5g] automobiles
 & light trucks publi%$ 9 ! ,f$]al      
,regi/] on ,may #g1 #bjaj1 & ,octob]    
#ae1 #bjab1 & = m$ium & heavy-duty      
eng9es & vehicles publi%$ 9 ! ,f$]al    
,regi/] on ,septemb] #ae1 #bjaa1 &      
,octob] #be1 #bjaf1 z "p ( f9al rules to
 implem5t corporate av]age fuel economy 
/&>ds1 & su* successor e/imates includ$ 
9 successor rules4  7,,ii7 ,9 ! case ( !
 #bd4c c5ts rate 9 subp>agraph 7,a77iii7
 & ! #ai4g c5ts rate 9 subp>agraph 7,d71
 ! comb9$ diesel fuel sav$ e/imates     
issu$ by ! ,national ,highway ,traffic  

,safety ,adm9i/ration & ! ,environm5tal 
,protection ,ag5cy = m$ium & heavy-duty 
eng9es & vehicles publi%$ 9 ! ,f$]al    
,regi/] on ,septemb] #ae1 #bjaa1 &      
,octob] #be1 #bjaf1 z "p ( f9al rules to
 implem5t corporate av]age fuel economy 
/&>ds1 & su* successor e/imates includ$ 
9 successor rules4  7x7 ,annual motor   
fuel use ,! t]m annual motor fuel use   
means--  7,i7 ,9 ! case ( ! #ah4c c5ts  
rate 9 subp>agraph 7,a77i71 ! total     
numb] ( gallons ( gasol9e us$ 9 a cal5d>
 ye> 9 highway use1 z publi%$ by !      
,f$]al ,highway ,adm9i/ration z "p ( its
 annual motor fuel data survey4  7,,ii7 
,9 ! case ( ! #bd4c c5ts rate 9         
subp>agraph 7,a77iii7 & ! #ai4g c5ts    
rate 9 subp>agraph 7,d71 ! total numb] (
 gallons ( diesel us$ 9 a cal5d> ye> 9  
highway use1 z publi%$ by ! ,f$]al      
,highway ,adm9i/ration z "p ( its annual
 motor fuel data survey4  7xi7 ,notice  
,n lat] ?an ,decemb] #ae1 #bjag1 &      
annually !reaft]1 ! ,secret>y %all      
publi% ! rates ( tax z adju/$ "u ?is    

subp>agraph = ! succe$+ cal5d> ye>4  4  
7b7 ,retail fuel excise tax ,subsection 
7a7 ( section #djda ( su* ,code is am5d$
 by add+ at ! end ! foll[+ new p>agraph3
  7#d7 ,highway inflation adju/m5t ,if  
an increase 9 rates is made "u section  
#djha7;a77#b77;,e7 = any cal5d> ye> aft]
 #bjag1 !n ea* doll> am\nt 9 p>agraphs  
7#a77;,c77iii77,i71 7#b77;,b77i71       
7#b77;,b77ii71 7#b77;,b77iv71 &         
7#c77;,a7 ( ?is subsection & 9          
subsections 7b77#b77;,a77i71            
7b77#b77;,c77i71 & 7m77#a7 %all be      
increas$ 9 ! same mann] & subject to !  
same conditions t are applicable "u     
section #djha7;a77#b77;,e74  4  7c7     
,con=m+ am5dm5t ,subp>agraph 7,a7 (     
section #djha7;a77#b7 ( su* ,code is    
am5d$ by /rik+ ,! rate & ins]t+ ,except 
z provid$ 9 subp>agraph 7,c71 ! rate4   
7d7 ,effective date ,! am5dm5ts made by 
?is section %all apply to p]iods beg9n+ 
aft] ,july #ca1 #bjag4  #c4             
,transportation bonds  7a7 ,issuance ,! 
,secret>y ( ! ,treasury %all1 pursuant  

to sub*apt] ,i ( *apt] #ca ( title #ca1 
,unit$ ,/ates ,code1 issue bonds1 to be 
kn[n z ,inve/ 9 ,am]ica ,bonds1 :i* meet
 ! t]ms & conditions ( subsection 7b71 &
 ! bond rev5ue %all be transf]r$ to !   
,highway ,tru/ ,fund ) #hj p]c5t        
allocat$ to ! ,highway ,acc\nt 7z def9$ 
9 section #iejc7;e77#e77;,b7 ( !        
,int]nal ,rev5ue ,code ( #aihf7 & #bj   
p]c5t allocat$ to ! ,mass ,transit      
,acc\nt4  7b7 ,t]ms & conditions  7#a7  
,t]m ,bonds issu$ "u subsection 7a7 %all
 h t]ms ( #cj ye>s4  7#b7 ,frequ5cy     
,bonds %all be issu$ "u subsection 7a7 e
 fiscal ye>4  7#c7 ,face am\nt =mula =  
fiscal ye>s #bjag ?r\gh #bjbj ,bonds    
issu$ "u subsection 7a7 = ea* ( fiscal  
ye>s #bjag ?r\gh #bjbj %all h a face    
am\nt t equals1 = t fiscal ye>-- 7,a7 ! 
,f$]al %>e 7z def9$ 9 section           
#ejc7;b77#h77;,c77v7 ( title #bc1 ,unit$
 ,/ates ,code1 & section                
#cjh7;e77#c77;,e7 ( title #di1 ,unit$   
,/ates ,code7 ( ! mo/ rec5t e/imates    
requir$ "u section #ejc7;b77#h77;,c77iv7

 ( title #bc1 ,unit$ ,/ates ,code1 &    
section #cjh7;e77#c77;,d7 ( title #di1  
,unit$ ,/ates ,code2 m9us  7,b7 ! sum ( 
! am\nt au?oriz$ 9 section #ecch7;a77#a7
 ( title #di1 ,unit$ ,/ates ,code1 !    
am\nts au?oriz$ 9 section #aaja7;a7 ( ! 
,,fa/ ,act 7,public ,law #aad-id2 #abi  
,/at4 #acbb71 ! am\nts au?oriz$ 9       
section #djja7;a7 ( ! ,,fa/ ,act        
7,public ,law #aad-id2 #abi ,/at4       
#adig71 & ! am\nts au?oriz$ 9 section   
#caajd7;a7 & #caaaj7;a7 ( title #di1    
,unit$ ,/ates ,code1 = t fiscal ye>4    
7#d7 ,face am\nt =mula = fiscal ye>s    
#bjba ?r\gh #bjac ,bonds issu$ "u       
subsection 7a7 = ea* ( fiscal ye>s #bjba
 ?r\gh #bjcj %all h a face am\nt t      
equals1 = t fiscal ye>--  7,a7 ! ,f$]al 
%>e 7z def9$ 9 section                  
#ejc7;b77#h77;,c77v7 ( title #bc1 ,unit$
 ,/ates ,code1 & section                
#cjh7;e77#c77;,e7 ( title #di1 ,unit$   
,/ates ,code7 ( ! mo/ rec5t e/imates    
requir$ "u section #ejc7;b77#h77;,c77iv7
 ( title #bc1 ,unit$ ,/ates ,code1 &    

section #cjh7;e77#c77;,d7 ( title #di1  
,unit$ ,/ates ,code2 m9us  7,b7 !       
expect$ rev5ue deposit$ into ! ,highway 
,tru/ ,fund = ! correspond+ fiscal ye> n
 includ+ rev5ues attribut$ to ?is       
section4  7#e7 ,am\nt out/&+ ,not)/&+   
p>agraphs 7#c7 & 7#d71 ! total face     
am\nt ( bonds issu$ "u subsection 7a7   
may n exce$ ! am\nt ! ,secret>y ( !     
,treasury & ! ,secret>y (               
,transportation det]m9es c be r$eem$1   
tak+ into acc\nt ?is section & section  
#iejc7;g7 ( ! ,int]nal ,rev5ue ,code (  
#aihf4  7#f7 ,sunset ,no bonds may be   
issu$ "u subsection 7a7 aft] ,septemb]  
#cj1 #bjcj4  7c7 ,capital inve/m5t grant
 special rule ,prior to ! application ( 
section #aje ( title #bc1 ,unit$ ,/ates 
,code1 = a fiscal ye>1 an am\nt equal to
 a p]c5tage ( bond rev5ue transf]r$ to !
 ,highway ,tru/ ,fund & allocat$ to !   
,mass ,transit ,acc\nt equal to ! ratio 
( ! funds appropriat$ 9 ! prec$+ fiscal 
ye> to c>ry out section #ecji ( title   
#di1 ,unit$ ,/ates ,code1 to ! funds    

made available 9 ! same fiscal ye> to   
c>ry out section #ecch7;a77#a7 ( title  
#di1 ,unit$ ,/ates ,code1 %all be       
available to make additional grants     
pursuant to section #ecji ( title #di1  
,unit$ ,/ates ,code4  7d7 ,set-,aside   
special rule  7#a7 ,9 g5]al ,9 det]m9+ !
 additional am\nts ( contract au?ority  
to be made available "u section #aje (  
title #bc1 ,unit$ ,/ates ,code1 = a     
fiscal ye>1 ! ,secret>y %all make       
adju/m5ts "u section #aje7;c77#a7 (     
title #bc1 ,unit$ ,/ates ,code1 = a     
set-aside f ! ,highway ,acc\nt 7z def9$ 
9 section #iejc7;e77#e77;,b7 ( !        
,int]nal ,rev5ue ,code ( #aihf7 or ,mass
 ,transit ,acc\nt ref]r$ to 9 p>agraph  
7#b7--  7,a7 by det]m9+ ! ratio t-- 7i7 
! am\nt au?oriz$ to be appropriat$ = !  
set-aside f ! acc\nt = t fiscal ye>2    
be>s to  7ii7 ! total am\nt au?oriz$ to 
be appropriat$ = t fiscal ye> = all     
programs 7except z provid$ 9 section    
#aje7;d7 ( title #bc1 ,unit$ ,/ates     
,code7 "u su* acc\nt2  7,b7 by multiply+

 ! ratio det]m9$ "u subp>agraph 7,a7 by 
! am\nt ( ! adju/m5t = ! acc\nt det]m9$ 
"u section #aje7;b77#a77;,b7 ( title    
#bc1 ,unit$ ,/ates ,code2 &  7,c7 by    
adju/+ ! am\nt t ! ,secret>y w\ld h     
allocat$ = ! set-aside = t fiscal ye> b 
= section #aje ( title #bc1 ,unit$      
,/ates ,code1 by ! am\nt calculat$ "u   
subp>agraph 7,b74  7#b7 ,set-asides ,!  
set-asides ref]r$ to 9 p>agraph 7#a7 are
 ! am\nts res]v$ = a fiscal ye> "u ea*  
(--  7,a7 section #ajd7;b77#e77;,b7 (   
title #bc1 ,unit$ ,/ates ,code2  7,b7   
sections #ajd7;h77#a7 & #ajd7;h77#b7 (  
title #bc1 ,unit$ ,/ates ,code2  7,c7   
section #acj7;e77#a7 ( title #bc1 ,unit$
 ,/ates ,code2  7,d7 section            
#acc7;h77#a77;,a7 ( title #bc1 ,unit$   
,/ates ,code2  7,e7 section #aeai7;a7 ( 
,,map-#ba 7#abf ,/at4 #ebd71 z am5d$ by 
section #adah ( ! ,,fa/ ,act 7#abi ,/at4
 #adbc72 &  7,f7 section #eccf7;h77#a7 (
 title #di1 ,unit$ ,/ates ,code4  7#c7  
,con=m+ am5dm5ts ,section #aje7;g7 (    
title #bc1 ,unit$ ,/ates ,code1 is      

am5d$-- 7,a7 9 p>agraph 7#b7 by ins]t+  
or ! ,tempor>y ,transportation ,bond    
,repaym5t ,acc\nt be=e ! p]iod at ! end2
 &  7,b7 by add+ at ! end ! foll[+3     
7#d7 ,tempor>y ,transportation ,bond    
,repaym5t ,acc\nt ,! t]m ,tempor>y      
,transportation ,bond ,repaym5t ,acc\nt 
means ! ,tempor>y ,transportation ,bond 
,repaym5t ,acc\nt ( ! ,highway ,tru/    
,fund e/abli%$ "u section #iejc7;g7 ( ! 
,int]nal ,rev5ue ,code ( #aihf4  4  7e7 
,tempor>y transportation bond repaym5t  
acc\nt ,section #iejc ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new subsection3  7g7  
,e/abli%m5t ( tempor>y transportation   
bond repaym5t acc\nt  7#a7 ,creation (  
acc\nt ,!re is e/abli%$ 9 ! ,highway    
,tru/ ,fund a sep>ate acc\nt to be kn[n 
z ! ,tempor>y ,transportation ,bond     
,repaym5t ,acc\nt consi/+ ( su* am\nts z
 may be transf]r$ or cr$it$ to !        
,tempor>y ,transportation ,bond         
,repaym5t ,acc\nt z provid$ 9 ?is       
section4  7#b7 ,transf]s to tempor>y    

transportation bond repaym5t acc\nt ,!  
,secret>y ( ! ,treasury %all transf] to 
! ,tempor>y ,transportation ,bond       
,repaym5t ,acc\nt ! portion ( ! am\nts  
appropriat$ to ! ,highway ,tru/ ,fund "u
 subsection 7b7 :i* are attributable to 
! increase 9 taxes "u-- 7,a7 section    
#djda by reason ( section #djda7;a77#d71
 &  7,b7 section #djha by reason (      
section #djha7;a77#b77;,e74  7#c7       
,exp5ditures f acc\nt ,am\nts 9 !       
,tempor>y ,transportation ,bond         
,repaym5t ,acc\nt %all be available =   
r$eem+ bonds & pay+ int]e/ paym5ts issu$
 "u section #c ( ! ,inve/+ 9 ,am]ica3 ,a
 ,p5ny = ,progress ,act4  7#d7          
,t]m9ation ,:5 all bonds issu$ "u       
section #c ( ! ,inve/+ 9 ,am]ica3 ,a    
,p5ny = ,progress ,act h be5 r$eem$--   
7,a7 ! ,tempor>y ,transportation ,bond  
,repaym5t ,acc\nt %all close1 &  7,b7   
all am\nts 9 ! acc\nt 7& all future     
rev5ue t1 abs5t ?is p>agraph1 w\ld h be5
 transf]r$ to ! acc\nt pursuant to      
p>agraph 7#b77 %all be transf]r$ to !   

,highway ,tru/ ,fund ) #hj p]c5t        
allocat$ to ! ,highway ,acc\nt 7z def9$ 
9 section #iejc7;e77#e77;,b7 ( !        
,int]nal ,rev5ue ,code ( #aihf7 & #bj   
p]c5t allocat$ to ! ,mass ,transit      
,acc\nt4  4  7f7 ,con=m+ am5dm5t        
,section #iejc7;e77#e77;,b7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ by      
ins]t+ or ! ,tempor>y ,transportation   
,bond ,repaym5t ,acc\nt be=e ! p]iod at 
! end4  7g7 ,effective date ,! am5dm5ts 
made by ?is section %all apply ^u       
enactm5t ( ?is law4  #d4 ,conditions &  
p]=mance report+  7a7 ,report on        
infra/ructure inve/m5t ne$s ,section    
#ejc7;b77#h7 ( title #bc1 ,unit$ ,/ates 
,code1 is am5d$ to read z foll[s3  7#h7 
,report on infra/ructure inve/m5t ne$s  
7,a7 ,9 g5]al ,n lat] ?an ,july #ca1    
#bjah1 & ,july #ca ( e second ye>       
!reaft]1 ! ,secret>y %all submit to !   
,committee on ,transportation &         
,infra/ructure ( ! ,h\se (              
,repres5tatives & ! ,committee on       
,environm5t & ,public ,works ( ! ,s5ate 

a report t describes-- 7i7 ! curr5t     
conditions & p]=mance ( highway & bridge
 facilities 9 ! ,unit$ ,/ates1 includ+ !
 backlog ( curr5t highway & bridge ne$s2
 &  7ii7 ! future ne$s ( highway &      
bridge facilities 9 ! ,unit$ ,/ates4    
7,b7 ,comp>isons ,a report "u ?is       
p>agraph %all include all in=mation     
necess>y to relate & comp>e ! conditions
 & p]=mance measures us$ 9 ! previ\s    
bi5nial reports to ! conditions &       
p]=mance measures us$ 9 ! curr5t report4
  7,c7 ,report requirem5ts ,9 develop+ a
 report "u ?is p>agraph1 ! ,secret>y    
%all-- 7i7 prep>e a complete assessm5t (
 highway & bridge facilities 9 ! ,unit$ 
,/ates2  7ii7 = ! succe$+ #bj-ye> p]iod1
 e/imate future capital requirem5ts =   
highway & bridge facilities 9 ! ,unit$  
,/ates at specifi$ levels ( s]vice2     
7iii7 = ! succe$+ #bj-ye> p]iod1 e/imate
 ! annual exp5ditures necess>y to fund  
capital projects 9 ! ,unit$ ,/ates t--  
7,i7 are necess>y to address ! curr5t & 
future ne$s ( highway & bridge          

facilities2 &  7,,ii7 h a b5efit-co/    
ratio great] ?an or equal to #a2  7iv7 =
 ! p]iod end+ ,decemb] #ca1 #bjcf1      
e/imate ! annual exp5ditures necess>y to
 fund capital projects 9 ! ,unit$ ,/ates
 t-- 7,i7 are necess>y to address !     
curr5t & future ne$s ( highway & bridge 
facilities2 &  7,,ii7 h a b5efit-co/    
ratio great] ?an or equal to #a2 &  7v7 
= ! prec$+ #aj-ye> p]iod1 e/imate !     
av]age annual p]c5tage ( ! total        
exp5ditures made = highway & bridge     
capital projects by all levels (        
gov]nm5t t 0 d]iv$ f ,f$]al funds4  4   
7b7 ,report on public transportation    
inve/m5t ne$s ,section #cjh7;e7 ( title 
#di1 ,unit$ ,/ates ,code1 is am5d$ to   
read z foll[s3  7e7 ,report on public   
transportation inve/m5t ne$s  7#a7 ,9   
g5]al ,n lat] ?an ,july #ca1 #bjah1 &   
,july #ca ( e second ye> !reaft]1 !     
,secret>y %all submit to ! ,committee on
 ,transportation & ,infra/ructure ( !   
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 

,s5ate a report t describes--  7,a7 !   
curr5t conditions & p]=mance ( public   
transportation sy/ems 9 ! ,unit$ ,/ates1
 includ+ ! /ate ( good repair backlog   
among exi/+ public transportation       
sy/ems2 &  7,b7 ! future ne$s ( public  
transportation sy/ems 9 ! ,unit$ ,/ates4
  7#b7 ,comp>isons ,a report "u ?is     
subsection %all include all in=mation   
necess>y to relate & comp>e ! conditions
 & p]=mance measures us$ 9 ! previ\s    
bi5nial reports to ! conditions &       
p]=mance measures us$ 9 ! curr5t report4
  7#c7 ,cont5ts ,9 develop+ a report "u 
?is subsection1 ! ,secret>y %all--  7,a7
 prep>e a complete assessm5t ( public   
transportation sy/ems 9 ! ,unit$ ,/ates2
  7,b7 = ! succe$+ #bj-ye> p]iod1       
e/imate ! future capital requirem5ts =  
public transportation sy/ems 9 ! ,unit$ 
,/ates at specifi$ levels ( s]vice2     
7,c7 = ! succe$+ #bj-ye> p]iod1 e/imate 
! annual capital exp5ditures necess>y to
 fund capital projects 9 ! ,unit$ ,/ates
 t h a b5efit-co/ ratio great] ?an "o & 

are necess>y-- 7i7 to a*ieve & ma9ta9 a 
/ate ( good repair = public             
transportation sy/ems2 &  7ii7 to       
support ! long-t]m tr5d rate ( public   
transportation rid]%ip gr[?1 plus an    
additional #j4c p]c5t2 &  7,d7 = ! p]iod
 end+ ,decemb] #ca1 #bjcf1 e/imate !    
annual capital exp5ditures necess>y to  
fund capital projects 9 ! ,unit$ ,/ates 
t h a b5efit-co/ ratio great] ?an "o &  
are necess>y--  7i7 to a*ieve & ma9ta9 a
 /ate ( good repair = public            
transportation sy/ems2 &  7ii7 to       
support ! long-t]m tr5d rate ( public   
transportation rid]%ip gr[?1 plus an    
additional #j4c p]c5t2 &  7,e7 = !      
prec$+ #aj-ye> p]iod1 e/imate ! av]age  
annual p]c5tage ( ! total exp5ditures   
made by all levels ( gov]nm5t = public  
transportation capital exp5ditures t 0  
d]iv$ f ,f$]al funds4  4  7c7 ,int]im   
report+ me?od ,prior to ! publication ( 
! reports requir$ "u ! am5dm5ts made by 
subsections 7a7 & 7b71 ! ,secret>y (    
,transportation %all provide to !       

,secret>y ( ! ,treasury ! data necess>y 
to calculate ! bond face am\nt "u       
section #c7;b7 us+ ! mo/ rec5t publi%$  
reports requir$ by section #ejc7;b77#h7 
( title #bc1 ,unit$ ,/ates ,code1 &     
section #cjh7;e7 ( title #di1 ,unit$    
,/ates ,code4  #e4 ,repeal ( ,,fa/ ,act 
rescission ,section #adch ( ! ,,fa/ ,act
 7,public ,law #aad-id2 #abi ,/at4      
#adcb71 & ! item relat+ to t section 9  
section #a7;b7 ( t ,act1 are repeal$4