,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fghj  ,,in ,,the ,,house ,,of  
,,representatives  ,may #h1 #bjbj,mr4   
,pappas 7for himself1 ,mr4 ,lipinski1   
and ,mr4 ,malinowski7 introduced the    
following bill2 which was referred to   
the ,committee on ,transportation and   
,infrastructure  ,a ,,bill  ,to direct  
the ,secretary of ,transportation to    
establish a toll credit exchange pilot  
program1 and for other purposes4  #a4   
,short title ,this ,act may be cited as 
the ,toll ,credit ,marketplace ,act of  
#bjbj4  #b4 ,transfer and sale of toll  
credits  7a7 ,definitions ,in this      
section3 7#a7 ,originating ,state ,the  
term originating ,state means a ,state  
that-- 7,a7 is eligible to use a credit 
under section #abj7;i7 of title #bc1    
,united ,states ,code2 and  7,b7 has    
been selected by the ,secretary under   
subsection 7d77#b74  7#b7 ,pilot program
 ,the term pilot program means the pilot
 program established under subsection   
7b74  7#c7 ,recipient ,state ,the term  

recipient ,state means a ,state that    
receives a credit by transfer or by sale
 under this section from an originating 
,state4  7#d7 ,state ,the term ,state   
has the meaning given the term in       
section #aja7;a7 of title #bc1 ,united  
,states ,code4  7b7 ,establishment of   
pilot program ,the ,secretary of        
,transportation shall establish and     
implement a toll credit exchange pilot  
program in accordance with this section4
  7c7 ,purposes ,the purposes of the    
pilot program are-- 7#a7 to identify the
 extent of the demand to purchase toll  
credits2  7#b7 to identify the cash     
price of toll credits through bilateral 
transactions between ,states2  7#c7 to  
analyze the impact of the purchase or   
sale of toll credits on transportation  
expenditures2  7#d7 to test the         
feasibility of expanding the pilot      
program to allow all ,states to         
participate on a permanent basis2 and   
7#e7 to identify any other repercussions
 of the toll credit exchange4  7d7      

,selection of originating ,states  7#a7 
,application ,in order to participate in
 the pilot program as an originating    
,state1 a ,state shall submit to the    
,secretary an application at such time1 
in such manner1 and containing such     
information as the ,secretary may       
require1 including1 at a minimum1 such  
information as is required for the      
,secretary to verify-- 7,a7 the amount  
of unused toll credits for which the    
,state has submitted certification to   
the ,secretary that are available to be 
sold or transferred under the pilot     
program1 including-- 7i7 toll revenue   
generated and the sources of that       
revenue2  7ii7 toll revenue used by     
public1 quasi-public1 and private       
agencies to build1 improve1 or maintain 
highways1 bridges1 or tunnels that serve
 the public purpose of interstate       
commerce2 and  7iii7 an accounting of   
any ,federal funds used by the public1  
quasi-public1 or private agency to      
build1 improve1 or maintain the toll    

facility1 to validate that the credit   
has been reduced by a percentage equal  
to the percentage of the total cost of  
building1 improving1 or maintaining the 
facility that was derived from ,federal 
funds2  7,b7 the documentation of       
maintenance of effort for toll credits  
earned by the originating ,state2 and   
7,c7 the accuracy of the accounting     
system of the ,state to earn and track  
toll credits4  7#b7 ,selection ,of the  
,states that submit an application under
 paragraph 7#a71 the ,secretary may     
select not more than #aj ,states to be  
designated as an originating ,state4    
7#c7 ,limitation on sales ,at any time1 
the ,secretary may limit the amount of  
unused toll credits that may be offered 
for sale under the pilot program4  7e7  
,transfer or sale of credits  7#a7 ,in  
general ,in carrying out the pilot      
program1 the ,secretary shall provide   
that an originating ,state may transfer 
or sell to a recipient ,state a credit  
not previously used by the originating  

,state under section #abj7;i7 of title  
#bc1 ,united ,states ,code4  7#b7       
,website support ,the ,secretary shall  
make available a publicly accessible    
website on which originating ,states    
shall post the amount of toll credits1  
verified under subsection 7d77#a77;,a71 
that are available for sale or transfer 
to a recipient ,state4  7#c7 ,bilateral 
transactions ,an originating ,state and 
a recipient ,state may enter into a     
bilateral transaction to sell or        
transfer verified toll credits4  7#d7   
,notification ,not later than #cj days  
after the date on which a credit is     
transferred or sold1 the originating    
,state and the recipient ,state shall   
jointly submit to the ,secretary a      
written notification of the transfer or 
sale1 including details on-- 7,a7 the   
amount of toll credits that have been   
sold or transferred2  7,b7 the price    
paid or other value transferred in      
exchange for the toll credits2  7,c7 the
 intended use by the recipient ,state of

 the toll credits1 if known2  7,d7 the  
intended use by the originating ,state  
of the cash or other value transferred2 
7,e7 an update on the toll credit       
balance of the originating ,state and   
the recipient ,state2 and  7,f7 any     
other information about the transaction 
that the ,secretary may require4  7#e7  
,use of credits by transferee or        
purchaser ,a recipient ,state may use a 
credit received under paragraph 7#a7    
toward the non-,federal share           
requirement for any funds made available
 to carry out title #bc or chapter #ec  
of title #di1 ,united ,states ,code1 in 
accordance with section #abj7;i7 of     
title #bc1 ,united ,states ,code4  7#f7 
,use of proceeds from sale of credits   
,an originating ,state shall use the    
proceeds from the sale of a credit under
 paragraph 7#a7 for the construction    
costs of any project in the originating 
,state that is eligible under title #bc1
 ,united ,states ,code4  7f7 ,reporting 
requirements  7#a7 ,initial report ,not 

later than #a year after the date on    
which the pilot program is established1 
the ,secretary shall submit to the      
,committee on ,environment and ,public  
,works of the ,senate and the ,committee
 on ,transportation and ,infrastructure 
of the ,house of ,representatives a     
report on the progress of the pilot     
program4  7#b7 ,final report ,not later 
than #c years after the date on which   
the pilot program is established1 the   
,secretary shall-- 7,a7 submit to the   
,committee on ,environment and ,public  
,works of the ,senate and the ,committee
 on ,transportation and ,infrastructure 
of the ,house of ,representatives a     
report that-- 7i7 determines whether a  
toll credit marketplace is viable and   
cost-effective2  7ii7 describes the     
buying and selling activities under the 
pilot program2  7iii7 describes the     
average sale price of toll credits2     
7iv7 determines whether the pilot       
program could be expanded to more       
,states or all ,states or to non-,state 

operators of toll facilities2  7v7      
provides updated information on the toll
 credit balance accumulated by each     
,state2 and  7vi7 describes the list of 
projects that were assisted by the pilot
 program2 and  7,b7 make the report     
under subparagraph 7,a7 publicly        
available on the website of the         
,department4  7g7 ,termination  7#a7 ,in
 general ,the ,secretary may terminate  
the pilot program or the participation  
of any ,state in the pilot program if   
the ,secretary determines that-- 7,a7   
the pilot program is not serving a      
public benefit2 or  7,b7 it is not cost 
effective to carry out the pilot        
program4  7#b7 ,procedures ,the         
termination of the pilot program or the 
participation of a ,state in the pilot  
program shall be carried out consistent 
with ,federal requirements for project  
closeout1 adjustment1 and continuing    
responsibilities4