,,ii #aaeth ,,congress #b;d ,session ,s4 #bdci ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #ae1 #bjah,mrs4 ,shaheen introduced the following bill2 which was read twice and referred to the ,committee on ,environment and ,public ,works ,a ,,bill ,to establish a pilot toll credit marketplace program1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,toll ,credit ,marketplace ,act4 #b4 ,toll credit marketplace pilot program 7a7 ,definitions ,in this section3 7#a7 ,pilot program ,the term pilot program means the toll credit marketplace pilot program established under subsection 7b74 7#b7 ,secretary ,the term ,secretary means the ,secretary of ,transportation4 7#c7 ,state ,the term ,state has the meaning given the term in section #aja of title #bc1 ,united ,states ,code4 7#d7 ,toll credit ,the term toll credit means the credit that can be used toward the non-,federal share requirement under section #abj7;i7 of title #bc1 ,united ,states ,code4 7#e7 ,toll credit marketplace ,the term toll credit marketplace means a market in which toll credits can be purchased and sold by ,states participating in the pilot program4 7b7 ,establishment ,not later than #a year after the date of enactment of this ,act1 the ,secretary shall establish and implement a pilot program to develop a toll credit marketplace for ,states to buy and sell toll credits4 7c7 ,purposes ,the purposes of the pilot program are-- 7#a7 to identify whether a monetary value can be assigned to toll credits2 7#b7 to identify the discounted rate of toll credits for cash2 7#c7 to determine if the purchase of toll credits by ,states provides the purchasing ,state budget flexibility to deal with funding issues1 including off-system needs1 transit systems with high operating costs1 or cash flow issues2 and 7#d7 to test the feasibility of expanding the toll credit market to allow all ,states to participate on a permanent basis4 7d7 ,administration ,in carrying out the pilot program1 the ,secretary-- 7#a7 shall establish procedures for a toll credit marketplace2 7#b7 shall establish an online platform that allows participating ,states to offer and bid on toll credit purchases2 7#c7 not later than #ij days after the date of enactment of this ,act1 shall provide notice to ,states that the ,federal ,highway ,administration is requesting participants for the pilot program2 7#d7 shall allow to participate in the pilot program-- 7,a7 a ,state that maintains a toll credit balance accumulated before the date of enactment of this ,act2 7,b7 a ,state that does not maintain infrastructure for the collection of toll credits2 and 7,c7 a ,state that has not accumulated a toll credit balance2 and 7#e7 shall not allow a ,state to purchase or sell toll credits in an amount that is less than #aj percent of the value of the toll credit value if applied as a non-,federal share requirement under section #abj7;i77#a7 of title #bc1 ,united ,states ,code4 7e7 ,reporting requirements 7#a7 ,initial report ,not later than #ahj days after notice of the pilot program is provided to the ,states under subsection 7d77#c71 the ,secretary shall submit to the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives and the ,committee on ,environment and ,public ,works of the ,senate a report on the progress of the toll credit marketplace4 7#b7 ,state report ,not later than #cj days after a purchase or sale in the toll credit marketplace under the pilot program-- 7,a7 a ,state selling toll credits shall provide to the ,secretary information on the transaction1 including-- 7i7 the amount of cash received2 7ii7 the value of toll credits sold2 7iii7 the intended use of the cash2 and 7iv7 the remaining toll credit balance of the ,state2 and 7,b7 a ,state purchasing toll credits shall provide to the ,secretary information on-- 7i7 the value of toll credits purchased2 7ii7 the anticipated use of the toll credits2 and 7iii7 plans for maintenance of effort for spending on ,federal-aid highway projects4 7#c7 ,annual report ,not later than #a year after notice of the pilot program is provided to the ,states under subsection 7d77#c7 and each year thereafter that the pilot program is in effect1 the ,secretary shall-- 7,a7 submit to the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives and the ,committee on ,environment and ,public ,works of the ,senate a report that-- 7i7 evaluates whether a toll credit marketplace is viable2 7ii7 describes the buying and selling activities of the toll credit marketplace2 7iii7 determines the monetary value of toll credits2 7iv7 evaluates whether the pilot program could be expanded to more ,states or all ,states2 and 7v7 provides updated information on the toll credit balance accumulated by each ,state2 and 7,b7 makes the report under subparagraph 7,a7 publicly available on the website of the ,secretary4 7f7 ,maintenance of effort ,except as provided in subsection 7i77#b71 a ,state participating in the toll credit marketplace shall be subject to section #abj7;i77#b7 of title #bc1 ,united ,states ,code4 7g7 ,use of funds received for the sale 7#a7 ,in general ,a ,state that receives funds from the sale of a toll credit may use the funds only for a project eligible for assistance under chapter #a of title #bc1 ,united ,states ,code1 or chapter #ec of title #di1 ,united ,states ,code4 7#b7 ,certification ,before expending any funds received in exchange for a toll credit1 the ,state shall-- 7,a7 provide to the ,secretary a certification that the funds will be used as described in paragraph 7#a72 and 7,b7 receive approval from the ,secretary under paragraph 7#c74 7#c7 ,approval ,not later than #cj days after the receipt of a certification under paragraph 7#b71 the ,secretary shall send a notice of decision to the ,state that-- 7,a7 approves the certification2 or 7,b7 7i7 disapproves the certification2 and 7ii7 includes an explanation of the grounds for disapproval and recommendations for addressing the deficiencies4 7#d7 ,appeal ,if the ,secretary disapproves the certification under paragraph 7#c77;,b7-- 7,a7 not later than #cj days after a ,state receives a notice of decision disapproving the certification1 the ,state may ask the ,secretary to reconsider the decision2 and 7,b7 not later than #fj days after the ,secretary receives a request to reconsider under subparagraph 7,a71 the ,secretary shall review the request and make a determination4 7h7 ,metropolitan planning organization and local government toll credit allocation 7#a7 ,purchase of toll credits ,on request of a metropolitan planning organization or local government in the ,state1 and with a timely payment of the amount of the toll credits1 a ,state may purchase toll credits under this section on behalf of the metropolitan planning organization or local government4 7#b7 ,allocation of toll credits ,on approval of the relevant metropolitan planning organization or local government1 a ,state may allocate toll credits purchased by the ,state for use by the metropolitan planning organization or local government4 7i7 ,limitation on use of ,federal funds for the purchase of toll credits 7#a7 ,limitation on ,federal funds ,a ,state1 metropolitan planning organization1 or local government may not use ,federal funds to purchase toll credits on the toll credit marketplace4 7#b7 ,use of toll credits ,a ,state may use toll credits purchased under this section to meet not more than #aj percent of the non-,federal share requirement for any funds made available to carry out chapter #a of title #bc1 ,united ,states ,code1 or chapter #ec of title #di1 ,united ,states ,code1 for each fiscal year4 7j7 ,,gao report ,after the end of the first year during which the toll credit marketplace is in operation1 the ,comptroller ,general of the ,united ,states shall-- 7#a7 conduct a study on the performance of the toll credit marketplace2 and 7#b7 submit to ,congress a report that includes-- 7,a7 a determination as to whether the pilot program is successful2 and 7,b7 any recommendations on how to improve the pilot program4 7k7 ,sunset ,the pilot program shall terminate on ,september #cj1 #bjbj4