,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #fajd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #ad1 #bjah,mr4  
,kelly ( ,p5nsylvania 7= himself1 ,mr4  
,clay1 & ,mr4 ,budd7 introduc$ ! foll[+ 
bill2 :i* 0 ref]r$ to ! ,committee on   
,agriculture1 & 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 require ! sale (
 di/ress$ notes & o!r obligations1 & =  
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,g5]at+ ,am]ican       
,income & ,infra/ructure ,n[ ,act4  #b4 
,requir$ sale ( di/ress$ notes & o!r    
obligations  7a7 ,9 g5]al  7#a7         
,coord9ation ( sale ( di/ress$ notes ,! 
,secret>y ( ,agriculture %all sell1 "u  
t]ms e/abli%$ by ! ,secret>y ( !        
,treasury1 di/ress$ notes & o!r         
obligations held by ! ,dep>tm5t (       
,agriculture4  7#b7 ,deposit ( proce$s  

,( ! proce$s f ! sale ( ! notes &       
obligations pursuant to p>agraph 7#a7-- 
7,a7 #ej p]c5t %all be deposit$ 9 an    
acc\nt specifically designat$ = purposes
 ( c>ry+ out infra/ructure projects 9   
l[-income communities 7z def9$ 9 section
 #de;,d7e7 ( ! ,int]nal ,rev5ue ,code ( 
#aihf72 &  7,b7 #ej p]c5t %all be reta9$
 9 ! ,treasury = purposes ( deficit     
r$uction4  7b7 ,t]ms & proc$ures ( sales
  7#a7 ,fair m>ket valuation ,!         
,secret>y ( ! ,treasury %all consult ) !
 ,secret>y ( ,agriculture to e/abli% a  
fair m>ket valuation = ! sale ( !       
di/ress$ notes or o!r obligations       
pursuant to ?is section4  7#b7 ,no      
rec\rse or liability ,! sale ( di/ress$ 
notes or o!r obligations pursuant to ?is
 section %all be on a nonrec\rse basis4 
,! ,secret>y ( ,agriculture & any       
subsequ5t pur*as] ( su* notes or o!r    
obligations sold on a nonrec\rse basis  
%all be reliev$ ( any responsibilities t
 might h be5 impos$ _h ! borr[] rema9$  
indebt$ to ! ,secret>y ( ,agriculture4  

7#c7 ,contract provisions ,! sale (     
di/ress$ notes or o!r obligations       
pursuant to ?is section %all n alt] !   
t]ms specifi$ 9 ! note or o!r           
obligation4  7#d7 ,notification2 notice 
& comm5t ,n less ?an #fj days be=e !    
sale ( a di/ress$ note or o!r obligation
 pursuant to ?is section1 ! ,secret>y ( 
,agriculture %all notify ! borr[] t !   
,dep>tm5t ( ,agriculture int5ds to sell 
su* note or o!r obligation4  7#e7       
,notice & comm5t ,dur+ ! #fj-;day p]iod 
be=e ! sale ( a di/ress$ note or o!r    
obligation "u ?is section1 ! ,secret>y (
 ,agriculture %all provide an           
opportunity = notice & public comm5t 9 a
 mann] t protects ! p]sonally           
id5tifiable in=mation relat+ to !       
borr[]4  7#f7 ,borr[] opportunity to    
ref9ance ,a borr[] may pay (f a di/ress$
 note or o!r obligation at a disc\nt to 
p> value enabl+ ! borr[] to ref9ance !  
note or o!r obligation ?r\gh a private  
m>ket loan )9 #cj days aft] ! borr[]    
receives notification ( ! int5t to sell 

su* note or o!r obligation pursuant to  
p>agraph 7#d74  7#g7 ,be/ price ,!      
,secret>y ( ,agriculture %all obta9 !   
highe/ possible return f ! sales (      
di/ress$ notes or o!r obligations "u ?is
 section & may conduct sales on a       
competitive bidd+ or negotiat$ process1 
9 am\nts suffici5tly l>ge to assure     
m>ket int]e/4  7#h7 ,f9ancial advisor ,9
 ord] to assure ! highe/ possible       
return1 ! ,secret>y ( ,agriculture may  
employ public f9ance advisors f micro-1 
woman-1 & m9ority-own$ bus9esses1 z     
def9$ by ! ,small ,bus9ess              
,adm9i/ration4  7#i7 ,loan s]vic+ ,be=e 
sell+ any di/ress$ note or o!r          
obligation "u ?is section1 ! ,secret>y (
 ,agriculture %all require p]sons (f]+  
to pur*ase ! note or o!r obligation to  
demon/rate--  7,a7 an ability or        
res\rces to provide su* s]vic+1 )       
respect to ! di/ress$ note or o!r       
obligation1 t ! ,secret>y ( ! ,treasury 
det]m9es to be necess>y to ensure !     
cont9u$ p]=mance on ! loan2 &  7,b7 !   

ability to g5]ate capital to provide !  
borr[]s ( ! di/ress$ notes or o!r       
obligations su* additional cr$it z may  
be necess>y 9 prop] s]vic+ ( su* notes  
or o!r obligations4  7c7 ,,gao report ,n
 lat] ?an "o ye> aft] ! date ( !        
enactm5t ( ?is ,act1 ! ,comptroll]      
,g5]al ( ! ,unit$ ,/ates %all submit to 
,congress a report on ! sale ( di/ress$ 
notes or o!r obligations ( ! ,dep>tm5t (
 ,agriculture "u ?is section4 ,su*      
report %all include ! recomm5dation ( ! 
,comptroll] ,g5]al ( ! ,unit$ ,/ates )  
respect to :e!r su* a sale %\ld be      
und]tak5 by o!r ,f$]al ag5cies4