,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bcdd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #cj1 #bjai,mr4   
,pet]s introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,comm]ce1 ,sci5ce1 & ,transportation  ,a
 ,,bill  ,to e/abli% a broadb&          
infra/ructure f9ance & innovation       
program to make available loans1 loan   
gu>antees1 & l9es ( cr$it = !           
con/ruction & deploym5t ( broadb&       
infra/ructure1 & = o!r purposes4  #a4   
,%ort title2 table ( cont5ts  7a7 ,%ort 
title ,?is ,act may be cit$ z ! ,broadb&
 ,infra/ructure ,f9ance & ,innovation   
,act ( #bjai4  7b7 ,table ( cont5ts ,!  
table ( cont5ts = ?is ,act is z foll[s3 
,sec4 #a4 ,%ort title2 table (          
cont5ts4,sec4 #b4 ,def9itions4,sec4 #c4 
,det]m9ation ( eligibility & project    
selection4,sec4 #d4 ,secur$ loans4,sec4 
#e4 ,l9es ( cr$it4,sec4 #f4 ,alt]native 
prud5tial l5d+ /&>ds = small            
projects4,sec4 #g4 ,program             
adm9i/ration4,sec4 #h4 ,/ate & local    

p]mits4,sec4 #i4 ,regulations4,sec4 #aj4
 ,fund+4,sec4 #aa4 ,reports to          
,congress4  #b4 ,def9itions ,9 ?is ,act3
 7#a7 ,assi/ant ,secret>y ,! t]m        
,assi/ant ,secret>y means ! ,assi/ant   
,secret>y ( ,comm]ce = ,communications &
 ,in=mation4  7#b7 ,,bifia program ,!   
t]m ,,bifia program means ! broadb&     
infra/ructure f9ance & innovation       
program e/abli%$ "u ?is ,act4  7#c7     
,broadb& s]vice ,! t]m broadb& s]vice-- 
7,a7 means broadb& int]net access s]vice
 t is a mass-m>ket retail s]vice1 or a  
s]vice provid$ to an entity describ$ 9  
p>agraph 7#ab77;,b77ii71 by wire or     
radio t provides ! capability to        
transmit data to & receive data f all or
 sub/antially all int]net endpo9ts1     
includ+ any capabilities t are incid5tal
 to & enable ! op]ation ( !             
communications s]vice2  7,b7 includes   
any s]vice t is a functional equival5t (
 ! s]vice describ$ 9 subp>agraph 7,a72 &
  7,c7 does n include dial-up int]net   
access s]vice4  7#d7 ,eligible project  

co/s ,! t]m eligible project co/s means 
am\nts sub/antially all ( :i* are paid  
by1 or = ! acc\nt (1 an obligor 9       
connection ) a project1 includ+ ! co/   
(--  7,a7 developm5t phase activities1  
includ+ plann+1 feasibility analysis1   
rev5ue =eca/+1 environm5tal review1     
hi/oric pres]vation review1 p]mitt+1    
prelim9>y eng9e]+ & design "w1 & o!r    
precon/ruction activities2  7,b7        
con/ruction & deploym5t phase           
activities1 includ+-- 7i7 con/ruction1  
recon/ruction1 rehabilitation1          
replacem5t1 & acquisition ( real prop]ty
 7includ+ l& relat+ to ! project &      
improvem5ts to l&71 equipm5t1           
in/rum5tation1 network+ capability1     
h>dw>e & s(tw>e1 & digital network      
te*nology2  7ii7 environm5tal           
mitigation2 &  7iii7 con/ruction        
cont+5cies2 &  7,c7 capitaliz$ int]e/   
necess>y to meet m>ket requirem5ts1     
reasonably requir$ res]ve funds1 capital
 issuance exp5ses1 & o!r c>ry+ co/s dur+
 con/ruction & deploym5t4  7#e7 ,f$]al  

cr$it in/rum5t ,! t]m ,f$]al cr$it      
in/rum5t means a secur$ loan1 loan      
gu>antee1 or l9e ( cr$it au?oriz$ to be 
made available "u ! ,,bifia program )   
respect to a project4  7#f7             
,inve/m5t-grade rat+ ,! t]m             
inve/m5t-grade rat+ means a rat+ ( ,,bbb
 m9us1 ,baa#c1 bbb m9us1 ,,bbb 7l[71 or 
high] assign$ by a rat+ ag5cy to project
 obligations4  7#g7 ,l5d] ,! t]m l5d]   
means any non-,f$]al qualifi$           
in/itutional buy] 7z def9$ 9 section    
#bcj4add;,a7a7 ( title #ag1 ,code (     
,f$]al ,regulations 7or any successor   
regulation71 kn[n z ,rule #add;,a7a7 ( !
 ,securities & ,ex*ange ,commission &   
issu$ "u ! ,securities ,act ( #aicc 7#ae
 ,u4,s4,c4 #gg;a et seq4771 includ+--   
7,a7 a qualifi$ retirem5t plan 7z def9$ 
9 section #digd7;c7 ( ! ,int]nal ,rev5ue
 ,code ( #aihf7 t is a qualifi$         
in/itutional buy]2 &  7,b7 a gov]nm5tal 
plan 7z def9$ 9 section #dad7;d7 ( !    
,int]nal ,rev5ue ,code ( #aihf7 t is a  
qualifi$ in/itutional buy]4  7#h7 ,lett]

 ( int]e/ ,! t]m lett] ( int]e/ means a 
lett] submitt$ by a pot5tial applicant  
prior to an application = cr$it         
assi/ance "u ! ,,bifia program 9 a =mat 
prescrib$ by ! ,assi/ant ,secret>y on ! 
website ( ! ,,bifia program t--  7,a7   
describes ! project & ! location1       
purpose1 & co/ ( ! project2  7,b7       
outl9es ! propos$ f9ancial plan1 includ+
 ! reque/$ cr$it assi/ance & ! propos$  
obligor2  7,c7 provides a /atus (       
environm5tal review2 &  7,d7 provides   
in=mation reg>d+ satisfaction ( o!r     
eligibility requirem5ts ( ! ,,bifia     
program4  7#i7 ,l9e ( cr$it ,! t]m l9e (
 cr$it means an agreem5t ent]$ into by !
 ,assi/ant ,secret>y ) an obligor "u    
section #e to provide a direct loan at a
 future date ^u ! occurr5ce ( c]ta9     
ev5ts4  7#aj7 ,loan gu>antee ,! t]m loan
 gu>antee means any gu>antee or o!r     
pl$ge by ! ,assi/ant ,secret>y to pay   
all or "p ( ! pr9cipal ( & int]e/ on a  
loan or o!r debt obligation issu$ by an 
obligor & fund$ by a l5d]4  7#aa7       

,obligor ,! t]m obligor means a p>ty t--
 7,a7 is prim>ily liable = paym5t ( !   
pr9cipal ( or int]e/ on a ,f$]al cr$it  
in/rum5t2 &  7,b7 may be a corporation1 
company1 p>tn]%ip1 jo9t v5ture1 tru/1 or
 gov]nm5tal entity1 ag5cy1 or           
in/rum5tality4  7#ab7 ,project ,! t]m   
project means a project-- 7,a7 to       
con/ruct & deploy infra/ructure = !     
provision ( broadb& s]vice2 &  7,b7 t ! 
,assi/ant ,secret>y det]m9es w-- 7i7    
provide access or improv$ access to     
broadb& s]vice to consum]s resid+ 9     
areas ( ! ,unit$ ,/ates t h no access to
 broadb& s]vice or d n h access to      
broadb& s]vice (f]$--  7,i7 ) a d[nload 
spe$ ( at lea/ #be megabits p] second2  
7,,ii7 ) an upload spe$ ( at lea/ #c    
megabits p] second2 &  7,,iii7 ) lat5cy 
t is suffici5tly l[ to all[ real-"t1    
int]active applications2 or  7ii7       
provide access or improv$ access to     
broadb& s]vice to--  7,i7 s*ools1       
libr>ies1 m$ical & heal?c>e provid]s1   
community colleges & o!r in/itutions (  

high] education1 & o!r community support
 organizations & entities to facilitate 
great] use ( broadb& s]vice by or ?r\gh 
su* organizations2  7,,ii7 organizations
 & ag5cies t provide outrea*1 access1   
equipm5t1 & support s]vices to          
facilitate great] use ( broadb& s]vice  
by l[-income1 unemploy$1 ag$1 & o!rwise 
vuln]able populations2  7,,iii7         
job-creat+ /rategic facilities locat$   
)9-- 7aa7 a ,/ate-designat$ economic    
zone2  7bb7 an economic developm5t      
di/rict designat$ by ! ,secret>y (      
,comm]ce "u section #dja ( ! ,public    
,works & ,economic ,developm5t ,act (   
#aife 7#db ,u4,s4,c4 #caga72  7cc7 a    
r5ewal community designat$ by !         
,secret>y ( ,h\s+ & ,urban ,developm5t  
"u section #adjj;,e ( ! ,int]nal ,rev5ue
 ,code ( #aihf 7z 9 effect be=e ! repeal
 ( t section by section                 
#dja7;d77#e77;,a7 ( division ,u ( !     
,consolidat$ ,appropriations ,act1 #bjah
 7,public ,law #aae-ada2 #acb ,/at4     
#cdh772  7dd7 an emp[]m5t zone designat$

 by ! ,secret>y ( ,h\s+ & ,urban        
,developm5t "u section #acia ( !        
,int]nal ,rev5ue ,code ( #aihf2 or  7ee7
 an ent]prise community designat$ by !  
,secret>y ( ,agriculture "u section     
#acia ( ! ,int]nal ,rev5ue ,code (      
#aihf2 or  7,,iv7 public safety ag5cies4
  7#ac7 ,project obligation ,! t]m      
project obligation means any note1 bond1
 deb5ture1 or o!r debt obligation issu$ 
by an obligor 9 connection ) ! f9anc+ ( 
a project1 o!r ?an a ,f$]al cr$it       
in/rum5t4  7#ad7 ,public au?ority ,! t]m
 public au?ority means ! ,f$]al         
,gov]nm5t or a ,/ate1 c\nty1 t[n1       
t[n%ip1 ,indian ,tribe1 municipal       
gov]nm5t1 or o!r local gov]nm5t1 or an  
in/rum5tality !re(1 ) au?ority to       
f9ance1 build1 op]ate1 or ma9ta9        
infra/ructure = ! provision ( broadb&   
s]vice4  7#ae7 ,rat+ ag5cy ,! t]m rat+  
ag5cy means a cr$it rat+ ag5cy regi/]$ )
 ! ,securities & ,ex*ange ,commission z 
a nationally recogniz$ /ati/ical rat+   
organization 7z def9$ 9 section #c7;a7 (

 ! ,securities ,ex*ange ,act ( #aicd    
7#ae ,u4,s4,c4 #gh;c7a7774  7#af7       
,secur$ loan ,! t]m secur$ loan means a 
direct loan or o!r debt obligation issu$
 by an obligor & fund$ by ! ,assi/ant   
,secret>y 9 connection ) ! f9anc+ ( a   
project "u section #d4  7#ag7 ,small    
project ,! t]m small project means a    
project hav+ eligible project co/s t are
 reasonably anticipat$ n to equal or    
exce$ #bj1jjj1jjj4  7#ah7 ,/ate ,! t]m  
,/ate has ! mean+ giv5 su* t]m 9 section
 #c ( ! ,communications ,act ( #aicd    
7#dg ,u4,s4,c4 #aec74  7#ai7 ,subsidy   
am\nt ,! t]m subsidy am\nt means ! am\nt
 ( budget au?ority suffici5t to cov] !  
e/imat$ long-t]m co/ to ! ,f$]al        
,gov]nm5t ( a ,f$]al cr$it in/rum5t--   
7,a7 calculat$ on a net pres5t value    
basis2 &  7,b7 exclud+ adm9i/rative co/s
 & any incid5tal effects on gov]nm5tal  
receipts or outlays 9 accordance ) !    
,f$]al ,cr$it ,re=m ,act ( #aiij 7#b    
,u4,s4,c4 #ffa et seq474  7#bj7         
,sub/antial completion ,! t]m sub/antial

 completion means1 ) respect to a       
project receiv+ cr$it assi/ance "u !    
,,bifia program-- 7,a7 ! comm5cem5t ( ! 
provision ( broadb& s]vice us+ !        
infra/ructure be+ f9anc$2 or  7,b7 a    
comp>able ev5t1 z det]m9$ by ! ,assi/ant
 ,secret>y & specifi$ 9 ! cr$it         
agreem5t4  #c4 ,det]m9ation (           
eligibility & project selection  7a7    
,eligibility  7#a7 ,9 g5]al ,a project  
%all be eligible to receive cr$it       
assi/ance "u ! ,,bifia program if--     
7,a7 ! entity propos+ to c>ry out !     
project submits a lett] ( int]e/ prior  
to submission ( a =mal application = !  
project2 &  7,b7 ! project meets !      
crit]ia describ$ 9 ?is subsection4  7#b7
 ,cr$itwor?9ess  7,a7 ,9 g5]al ,except z
 provid$ 9 subp>agraph 7,b71 to be      
eligible = assi/ance "u ! ,,bifia       
program1 a project %all satisfy         
applicable cr$itwor?9ess /&>ds1 :i*1 at 
a m9imum1 %all include--  7i7 adequate  
cov]age requirem5ts to ensure repaym5t2 
7ii7 an inve/m5t-grade rat+ f at lea/ #b

 rat+ ag5cies on debt s5ior to ! ,f$]al 
cr$it in/rum5t2 &  7iii7 a rat+ f at    
lea/ #b rat+ ag5cies on ! ,f$]al cr$it  
in/rum5t4  7,b7 ,small projects ,9 ord] 
= a small project to be eligible =      
assi/ance "u ! ,,bifia program1 su*     
project %all satisfy alt]native         
cr$itwor?9ess /&>ds t %all be e/abli%$  
by ! ,assi/ant ,secret>y "u section #f =
 purposes ( ?is p>agraph4  7#c7         
,application ,a ,/ate1 local gov]nm5t1  
ag5cy or in/rum5tality ( a ,/ate or     
local gov]nm5t1 public au?ority1        
public-private p>tn]%ip1 or o!r legal   
entity und]tak+ a project & au?oriz$ by 
! ,assi/ant ,secret>y %all submit a     
project application t is acceptable to !
 ,assi/ant ,secret>y4  7#d7 ,eligible   
project co/ p>amet]s = infra/ructure    
projects ,eligible project co/s %all be 
reasonably anticipat$ to equal or exce$ 
#b1jjj1jjj 9 ! case ( a project or      
program ( projects--  7,a7 9 :i* !      
applicant is a local gov]nm5t1 an       
in/rum5tality ( a local gov]nm5t1 or a  

public au?ority 7o!r ?an a public       
au?ority t is ! ,f$]al ,gov]nm5t or a   
,/ate gov]nm5t1 or an in/rum5tality     
!re(72  7,b7 locat$ on a facility own$  
by a local gov]nm5t2 or  7,c7 = :i* !   
,assi/ant ,secret>y det]m9es t a local  
gov]nm5t is sub/antially involv$ 9 !    
developm5t ( ! project4  7#e7 ,d$icat$  
rev5ue s\rces ,! applicable ,f$]al cr$it
 in/rum5t %all be repayable1 9 :ole or 9
 "p1 f-- 7,a7 am\nts *>g$ to--  7i7     
subscrib]s ( broadb& s]vice = su*       
s]vice2 or  7ii7 subscrib]s ( any relat$
 s]vice provid$ ov] ! same infra/ructure
 = su* relat$ s]vice2  7,b7 us] fees2   
7,c7 paym5ts ow+ to ! obligor "u a      
public-private p>tn]%ip2 or  7,d7 o!r   
d$icat$ rev5ue s\rces t also secure or  
fund ! project obligations4  7#f7       
,applications :]e obligor w be id5tifi$ 
lat] ,a ,/ate1 local gov]nm5t1 ag5cy or 
in/rum5tality ( a ,/ate or local        
gov]nm5t1 or public au?ority may submit 
to ! ,assi/ant ,secret>y an application 
"u p>agraph 7#c71 "u :i* a private p>ty 

to a public-private p>tn]%ip w be--     
7,a7 ! obligor2 &  7,b7 id5tifi$ lat]   
?r\gh completion ( a procurem5t &       
selection ( ! private p>ty4  7#g7       
,b5eficial effects ,! ,assi/ant         
,secret>y %all det]m9e t f9ancial       
assi/ance = a project "u ! ,,bifia      
program w--  7,a7 fo/]1 if appropriate1 
p>tn]%ips t attract public & private    
inve/m5t = ! project2  7,b7 enable !    
project to proce$ at an e>li] date ?an !
 project w\ld o!rwise be able to proce$ 
or r$uce ! lifecycle co/s 7includ+ debt 
s]vice co/s7 ( ! project2 &  7,c7 r$uce 
! contribution ( ,f$]al grant assi/ance 
= ! project4  7#h7 ,project read9ess ,to
 be eligible = assi/ance "u ! ,,bifia   
program1 ! applicant %all demon/rate a  
reasonable expectation t ! contract+    
process = ! con/ruction & deploym5t (   
infra/ructure = ! provision ( broadb&   
s]vice ?r\gh ! project c comm5ce by no  
lat] ?an #ij days aft] ! date on :i* a  
,f$]al cr$it in/rum5t is obligat$ = !   
project "u ! ,,bifia program4  7b7      

,selection ,among ,eligible ,projects   
7#a7 ,e/abli%m5t ( application process  
,! ,assi/ant ,secret>y %all e/abli% a   
roll+ application process "u :i*        
projects t are eligible to receive cr$it
 assi/ance "u subsection 7a7 %all       
receive cr$it assi/ance on t]ms         
acceptable to ! ,assi/ant ,secret>y1 if 
adequate funds are available to cov] !  
subsidy co/s associat$ ) ! ,f$]al cr$it 
in/rum5t4  7#b7 ,prelim9>y rat+ op9ion  
lett] ,! ,assi/ant ,secret>y %all       
require ea* project applicant to        
provide-- 7,a7 a prelim9>y rat+ op9ion  
lett] f at lea/ #a rat+ ag5cy--  7i7    
indicat+ t ! s5ior obligations ( !      
project1 :i* may be ! ,f$]al cr$it      
in/rum5t1 h ! pot5tial to a*ieve an     
inve/m5t-grade rat+2 &  7ii7 includ+ a  
prelim9>y rat+ op9ion on ! ,f$]al cr$it 
in/rum5t2 or  7,b7 9 ! case ( a small   
project1 alt]native docum5tation t !    
,assi/ant ,secret>y %all require 9 !    
/&>ds e/abli%$ "u section #f = purposes 
( ?is p>agraph4  7#c7 ,te*nology        

neutrality requir$ ,9 select+ projects  
to receive cr$it assi/ance "u ! ,,bifia 
program1 ! ,assi/ant ,secret>y may n    
favor a project us+ any p>ticul>        
te*nology4  7c7 ,f$]al ,requirem5ts     
7#a7 ,9 g5]al ,! foll[+ provisions ( law
 %all apply to funds made available "u !
 ,,bifia program & projects assi/$ ) ^? 
funds3  7,a7 ,title ,,vi ( ! ,civil     
,rights ,act ( #aifd 7#db ,u4,s4,c4     
#bjjj;d et seq474  7,b7 ,! ,national    
,environm5tal ,policy ,act ( #aifi 7#db 
,u4,s4,c4 #dcba et seq474  7,c7         
,division ,a ( subtitle ,,iii ( title   
#ed1 ,unit$ ,/ates ,code 7=m]ly kn[n z !
 ,national ,hi/oric ,pres]vation ,act74 
7,d7 ,! ,uni=m ,relocation ,assi/ance & 
,real ,prop]ty ,acquisition ,policies   
,act ( #aigj 7#db ,u4,s4,c4 #dfja et    
seq474  7#b7 ,,nepa ,no fund+ %all be   
obligat$ "u ! ,,bifia program = a       
project t has n receiv$ an environm5tal 
categorical exclusion1 a f9d+ ( no      
significant impact1 or a record (       
decision "u ! ,national ,environm5tal   

,policy ,act ( #aifi 7#db ,u4,s4,c4     
#dcba et seq474  7#c7 ,title ,,vi ( !   
,civil ,rights ,act ( #aifd ,= purposes 
( title ,,vi ( ! ,civil ,rights ,act (  
#aifd 7#db ,u4,s4,c4 #bjjj;d et seq471  
any project t receives cr$it assi/ance  
"u ! ,,bifia program %all be consid]$ a 
program or activity )9 ! mean+ ( section
 #fjf ( su* title 7#db ,u4,s4,c4        
#bjjj;d-#d;a74  7d7 ,application        
,process+ ,proc$ures  7#a7 ,notice (    
complete application ,n lat] ?an #cj    
days aft] ! date ( receipt ( an         
application "u ?is section1 ! ,assi/ant 
,secret>y %all provide to ! applicant a 
writt5 notice to in=m ! applicant :e!r--
  7,a7 ! application is complete2 or    
7,b7 additional in=mation or mat]ials   
are ne$$ to complete ! application4     
7#b7 ,approval or d5ial ( application ,n
 lat] ?an #fj days aft] ! date (        
issuance ( ! writt5 notice "u p>agraph  
7#a71 ! ,assi/ant ,secret>y %all provide
 to ! applicant a writt5 notice in=m+ ! 
applicant :e!r ! ,assi/ant ,secret>y has

 approv$ or disapprov$ ! application4   
7#c7 ,approval be=e ,,nepa review       
,subject to subsection 7c77#b71 an      
application = a project may be approv$  
be=e ! project receives an environm5tal 
categorical exclusion1 a f9d+ ( no      
significant impact1 or a record (       
decision "u ! ,national ,environm5tal   
,policy ,act ( #aifi 7#db ,u4,s4,c4     
#dcba et seq474  7e7 ,developm5t ,phase 
,activities ,any cr$it in/rum5t secur$  
"u ! ,,bifia program may be us$ to      
f9ance up to #ajj p]c5t ( ! co/ (       
developm5t phase activities z describ$ 9
 section #b7d77;,a74  #d4 ,secur$ loans 
7a7 ,9 ,g5]al  7#a7 ,agreem5ts ,subject 
to p>agraphs 7#b7 & 7#c71 ! ,assi/ant   
,secret>y may ent] into agreem5ts ) "o  
or m obligors to make secur$ loans1 !   
proce$s ( :i* %all be us$--  7,a7 to    
f9ance eligible project co/s ( any      
project select$ "u section #c2  7,b7 to 
ref9ance int]im con/ruction f9anc+ (    
eligible project co/s ( any project     
select$ "u section #c2 or  7,c7 to      

ref9ance long-t]m project obligations or
 ,f$]al cr$it in/rum5ts1 if ! ref9anc+  
provides additional fund+ capacity = !  
completion1 enhancem5t1 or expansion (  
any project t--  7i7 is select$ "u      
section #c2 or  7ii7 o!rwise meets !    
requirem5ts ( section #c4  7#b7         
,limitation on ref9anc+ ( int]im        
con/ruction f9anc+ ,a loan "u p>agraph  
7#a7 %all n ref9ance int]im con/ruction 
f9anc+ "u p>agraph 7#a77;,b7--  7,a7 if 
! maturity ( su* int]im con/ruction     
f9anc+ is lat] ?an #a ye> aft] !        
sub/antial completion ( ! project2 &    
7,b7 lat] ?an #a ye> aft] ! date (      
sub/antial completion ( ! project4  7#c7
 ,risk assessm5t ,be=e ent]+ into an    
agreem5t "u ?is subsection1 ! ,assi/ant 
,secret>y1 9 consultation ) ! ,director 
( ! ,(fice ( ,managem5t & ,budget1 %all 
det]m9e an appropriate capital res]ve   
subsidy am\nt = ea* secur$ loan1 tak+   
into acc\nt ea* rat+ lett] provid$ by a 
rat+ ag5cy "u section                   
#c7;b77#b77;,a77ii7 or1 9 ! case ( a    

small project1 ! alt]native docum5tation
 provid$ "u section #c7;b77#b77;,b74    
7b7 ,t]ms & ,limitations  7#a7 ,9 g5]al 
,a secur$ loan "u ?is section ) respect 
to a project %all be on su* t]ms &      
conditions & conta9 su* cov5ants1       
repres5tations1 w>ranties1 & requirem5ts
 7includ+ requirem5ts = audits7 z !     
,assi/ant ,secret>y det]m9es to be      
appropriate4  7#b7 ,maximum am\nt ,!    
am\nt ( a secur$ loan "u ?is section    
%all n exce$ ! less] ( #di p]c5t ( !    
reasonably anticipat$ eligible project  
co/s or1 if ! secur$ loan is n = a small
 project & does n receive an            
inve/m5t-grade rat+1 ! am\nt ( ! s5ior  
project obligations4  7#c7 ,paym5t ,a   
secur$ loan "u ?is section-- 7,a7 %all--
  7i7 be payable1 9 :ole or 9 "p1 f--   
7,i7 am\nts *>g$ to--  7aa7 subscrib]s (
 broadb& s]vice = su* s]vice2 or  7bb7  
subscrib]s ( any relat$ s]vice provid$  
ov] ! same infra/ructure = su* relat$   
s]vice2  7,,ii7 us] fees2  7,,iii7      
paym5ts ow+ to ! obligor "u a           

public-private p>tn]%ip2 or  7,,iv7 o!r 
d$icat$ rev5ue s\rces t also secure !   
s5ior project obligations2 &  7ii7      
include a cov]age requirem5t or simil>  
security feature support+ ! project     
obligations2 &  7,b7 may h a li5 on     
rev5ues describ$ 9 subp>agraph 7,a71    
subject to any li5 secur+ project       
obligations4  7#d7 ,int]e/ rate ,!      
int]e/ rate on a secur$ loan "u ?is     
section %all be n less ?an ! yield on   
,unit$ ,/ates ,treasury securities ( a  
simil> maturity to ! maturity ( ! secur$
 loan on ! date ( execution ( ! loan    
agreem5t4  7#e7 ,maturity date ,! f9al  
maturity date ( a secur$ loan "u ?is    
section %all be ! e>li] (-- 7,a7 ! date 
t is #ce ye>s aft] ! date ( sub/antial  
completion ( ! project2 or  7,b7 ! la/  
day ( ! useful life ( ! infra/ructure = 
! provision ( broadb& s]vice be+ f9anc$4
  7#f7 ,nonsubord9ation  7,a7 ,9 g5]al  
,except z provid$ 9 subp>agraph 7,b71 a 
secur$ loan "u ?is section %all n be    
subord9at$ to ! claims ( any hold] (    

project obligations 9 ! ev5t (          
bankruptcy1 insolv5cy1 or liquidation ( 
! obligor4  7,b7 ,preexi/+ ind5ture  7i7
 ,9 g5]al ,! ,assi/ant ,secret>y %all   
waive ! requirem5t "u subp>agraph 7,a7 =
 a public ag5cy borr[] t is f9anc+ ongo+
 capital programs & has out/&+ s5ior    
bonds "u a preexi/+ ind5ture1 if--  7,i7
 ! secur$ loan-- 7aa7 is rat$ 9 ! ,a    
category or high]2 or  7bb7 9 ! case ( a
 small project1 meets an alt]native /&>d
 t ! ,assi/ant ,secret>y %all e/abli% "u
 section #f = purposes ( ?is subclause2 
7,,ii7 ! secur$ loan is secur$ & payable
 f pl$g$ rev5ues n affect$ by project   
p]=mance1 su* z a tax-back$ rev5ue pl$ge
 or a sy/em-back$ pl$ge ( project       
rev5ues2 &  7,,iii7 ! ,,bifia program   
%>e ( eligible project co/s is #cc p]c5t
 or less4  7ii7 ,limitation ,if !       
,assi/ant ,secret>y waives !            
nonsubord9ation requirem5t "u ?is       
subp>agraph--  7,i7 ! maximum cr$it     
subsidy to be paid by ! ,f$]al ,gov]nm5t
 %all be n m ?an #aj p]c5t ( ! pr9cipal 

am\nt ( ! secur$ loan2 &  7,,ii7 !      
obligor %all be responsible = pay+ !    
rema9d] ( ! subsidy co/1 if any4  7#g7  
,fees ,! ,assi/ant ,secret>y may e/abli%
 fees at a level suffici5t to cov] all  
or a portion ( ! co/s to ! ,f$]al       
,gov]nm5t ( mak+ a secur$ loan "u ?is   
section4  7#h7 ,non-,f$]al %>e ,!       
proce$s ( a secur$ loan "u ! ,,bifia    
program1 if ! loan is repayable f       
non-,f$]al funds--  7,a7 may be us$ =   
any non-,f$]al %>e ( project co/s       
requir$ "u ?is ,act2 &  7,b7 %all n c\nt
 t[>d ! total ,f$]al assi/ance provid$ =
 a project = purposes ( p>agraph 7#i74  
7#i7 ,maximum ,f$]al involvem5t ,! total
 ,f$]al assi/ance provid$ = a project   
receiv+ a loan "u ! ,,bifia program %all
 n exce$ #hj p]c5t ( ! total project    
co/4  7c7 ,repaym5t  7#a7 ,s*$ule ,!    
,assi/ant ,secret>y %all e/abli% a      
repaym5t s*$ule = ea* secur$ loan "u ?is
 section bas$ on--  7,a7 ! project$ ca% 
fl[ f project rev5ues & o!r repaym5t    
s\rces2 &  7,b7 ! useful life ( !       

infra/ructure = ! provision ( broadb&   
s]vice be+ f9anc$4  7#b7 ,comm5cem5t    
,s*$ul$ loan repaym5ts ( pr9cipal or    
int]e/ on a secur$ loan "u ?is section  
%all comm5ce n lat] ?an #e ye>s aft] !  
date ( sub/antial completion ( !        
project4  7#c7 ,def]r$ paym5ts  7,a7 ,9 
g5]al ,if1 at any "t aft] ! date (      
sub/antial completion ( ! project1 !    
project is unable to g5]ate suffici5t   
rev5ues to pay ! s*$ul$ loan repaym5ts (
 pr9cipal & int]e/ on ! secur$ loan1 !  
,assi/ant ,secret>y may1 subject to     
subp>agraph 7,c71 all[ ! obligor to add 
unpaid pr9cipal & int]e/ to ! out/&+    
balance ( ! secur$ loan4  7,b7 ,int]e/  
,any paym5t def]r$ "u subp>agraph 7,a7  
%all-- 7i7 cont9ue to accrue int]e/ 9   
accordance ) subsection 7b77#d7 until   
fully repaid2 &  7ii7 be s*$ul$ to be   
amortiz$ ov] ! rema9+ t]m ( ! loan4     
7,c7 ,crit]ia  7i7 ,9 g5]al ,any paym5t 
def]ral "u subp>agraph 7,a7 %all be     
cont+5t on ! project meet+ crit]ia      
e/abli%$ by ! ,assi/ant ,secret>y4  7ii7

 ,repaym5t /&>ds ,! crit]ia e/abli%$    
pursuant to clause 7i7 %all include     
/&>ds = reasonable assurance ( repaym5t4
  7#d7 ,prepaym5t  7,a7 ,use ( excess   
rev5ues ,any excess rev5ues t rema9 aft]
 satisfy+ s*$ul$ debt s]vice requirem5ts
 on ! project obligations & secur$ loan 
& all deposit requirem5ts "u ! t]ms (   
any tru/ agreem5t1 bond resolution1 or  
simil> agreem5t secur+ project          
obligations may be appli$ annually to   
prepay ! secur$ loan )\t p5alty4  7,b7  
,use ( proce$s ( ref9anc+ ,! secur$ loan
 may be prepaid at any "t )\t p5alty f !
 proce$s ( ref9anc+ f non-,f$]al fund+  
s\rces4  7d7 ,sale ( ,secur$ ,loans     
7#a7 ,9 g5]al ,subject to p>agraph 7#b71
 z soon z practicable aft] sub/antial   
completion ( a project & aft] notify+ ! 
obligor1 ! ,assi/ant ,secret>y may sell 
to ano!r entity or re(f] into ! capital 
m>kets a secur$ loan = ! project if !   
,assi/ant ,secret>y det]m9es t ! sale or
 re(f]+ c be made on favorable t]ms4    
7#b7 ,cons5t ( obligor ,9 mak+ a sale or

 re(f]+ "u p>agraph 7#a71 ! ,assi/ant   
,secret>y may n *ange ! orig9al t]ms &  
conditions ( ! secur$ loan )\t ! writt5 
cons5t ( ! obligor4  7e7 ,loan          
,gu>antees  7#a7 ,9 g5]al ,! ,assi/ant  
,secret>y may provide a loan gu>antee to
 a l5d] 9 lieu ( mak+ a secur$ loan "u  
?is section if ! ,assi/ant ,secret>y    
det]m9es t ! budget>y co/ ( ! loan      
gu>antee is sub/antially ! same z t ( a 
secur$ loan4  7#b7 ,t]ms ,! t]ms ( a    
loan gu>antee "u p>agraph 7#a7 %all be  
consi/5t ) ! t]ms requir$ "u ?is section
 = a secur$ loan1 except t ! rate on !  
gu>ante$ loan & any prepaym5t features  
%all be negotiat$ betwe5 ! obligor & !  
l5d]1 ) ! cons5t ( ! ,assi/ant          
,secret>y4  7f7 ,/reaml9$ ,application  
,process  7#a7 ,9 g5]al ,! ,assi/ant    
,secret>y %all develop "o or m exp$it$  
application processes1 available at !   
reque/ ( entities seek+ secur$ loans "u 
! ,,bifia program1 t use a set or sets (
 conv5tional t]ms e/abli%$ pursuant to  
?is section4  7#b7 ,t]ms ,9 e/abli%+ !  

/reaml9$ application process requir$ by 
?is subsection1 ! ,assi/ant ,secret>y   
may all[ = an exp$it$ application p]iod 
& include t]ms su* z ^? t require--     
7,a7 t ! project be a small project2    
7,b7 ! secur$ loan to be secur$ &       
payable f pl$g$ rev5ues n affect$ by    
project p]=mance1 su* z a tax-back$     
rev5ue pl$ge1 tax increm5t f9anc+1 or a 
sy/em-back$ pl$ge ( project rev5ues2 &  
7,c7 repaym5t ( ! loan to comm5ce n lat]
 ?an #e ye>s aft] disbursem5t4  #e4     
,l9es ( cr$it  7a7 ,9 ,g5]al  7#a7      
,agreem5ts ,subject to p>agraphs 7#b7   
?r\gh 7#d71 ! ,assi/ant ,secret>y may   
ent] into agreem5ts to make available to
 "o or m obligors l9es ( cr$it 9 ! =m ( 
direct loans to be made by ! ,assi/ant  
,secret>y at future dates on ! occurr5ce
 ( c]ta9 ev5ts = any project select$ "u 
section #c4  7#b7 ,use ( proce$s ,!     
proce$s ( a l9e ( cr$it made available  
"u ?is section %all be available to pay 
debt s]vice on project obligations issu$
 to f9ance eligible project co/s1       

extraord9>y repair & replacem5t co/s1   
op]ation & ma9t5ance exp5ses1 & co/s    
associat$ ) unexpect$ ,f$]al or ,/ate   
environm5tal re/rictions4  7#c7 ,risk   
assessm5t  7,a7 ,9 g5]al ,except z      
provid$ 9 subp>agraph 7,b71 be=e ent]+  
into an agreem5t "u ?is subsection1 !   
,assi/ant ,secret>y1 9 consultation ) ! 
,director ( ! ,(fice ( ,managem5t &     
,budget & ea* rat+ ag5cy provid+ a      
prelim9>y rat+ op9ion lett] "u section  
#c7;b77#b77;,a71 %all det]m9e an        
appropriate capital res]ve subsidy am\nt
 = ea* l9e ( cr$it1 tak+ into acc\nt !  
rat+ op9ion lett]4  7,b7 ,small projects
 ,be=e ent]+ into an agreem5t "u ?is    
subsection to make available a l9e (    
cr$it = a small project1 ! ,assi/ant    
,secret>y1 9 consultation ) ! ,director 
( ! ,(fice ( ,managem5t & ,budget1 %all 
det]m9e an appropriate capital res]ve   
subsidy am\nt = ea* su* l9e ( cr$it1    
tak+ into acc\nt ! alt]native           
docum5tation provid$ "u section         
#c7;b77#b77;,b7 in/ead ( prelim9>y rat+ 

op9ion lett]s provid$ "u section        
#c7;b77#b77;,a74  7#d7 ,inve/m5t-grade  
rat+ requirem5t ,! fund+ ( a l9e ( cr$it
 "u ?is section %all be cont+5t on--    
7,a7 ! s5ior obligations ( ! project    
receiv+ an inve/m5t-grade rat+ f #b rat+
 ag5cies2 or  7,b7 9 ! case ( a small   
project1 ! project meet+ an alt]native  
/&>d t ! ,assi/ant ,secret>y %all       
e/abli% "u section #f = purposes ( ?is  
p>agraph4  7b7 ,t]ms & ,limitations     
7#a7 ,9 g5]al ,a l9e ( cr$it "u ?is     
section ) respect to a project %all be  
on su* t]ms & conditions & conta9 su*   
cov5ants1 repres5tations1 w>ranties1 &  
requirem5ts 7includ+ requirem5ts =      
audits7 z ! ,assi/ant ,secret>y det]m9es
 to be appropriate4  7#b7 ,maximum      
am\nts ,! total am\nt ( a l9e ( cr$it "u
 ?is section %all n exce$ #cc p]c5t ( ! 
reasonably anticipat$ eligible project  
co/s4  7#c7 ,draws ,any draw on a l9e ( 
cr$it "u ?is section %all-- 7,a7        
repres5t a direct loan2 &  7,b7 be made 
only if net rev5ues f ! project 7includ+

 capitaliz$ int]e/1 b n includ+         
reasonably requir$ f9anc+ res]ves7 are  
insuffici5t to pay ! co/s specifi$ 9    
subsection 7a77#b74  7#d7 ,int]e/ rate  
,! int]e/ rate on a direct loan result+ 
f a draw on ! l9e ( cr$it %all be n less
 ?an ! yield on #cj-ye> ,unit$ ,/ates   
,treasury securities1 z ( ! date (      
execution ( ! l9e ( cr$it agreem5t4     
7#e7 ,security ,a l9e ( cr$it issu$ "u  
?is section-- 7,a7 %all--  7i7 be       
payable1 9 :ole or 9 "p1 f-- 7,i7 am\nts
 *>g$ to--  7aa7 subscrib]s ( broadb&   
s]vice = su* s]vice2 or  7bb7 subscrib]s
 ( any relat$ s]vice provid$ ov] ! same 
infra/ructure = su* relat$ s]vice2      
7,,ii7 us] fees2  7,,iii7 paym5ts ow+ to
 ! obligor "u a public-private p>tn]%ip2
 or  7,,iv7 o!r d$icat$ rev5ue s\rces t 
also secure ! s5ior project obligations2
 &  7ii7 include a cov]age requirem5t or
 simil> security feature support+ !     
project obligations2 &  7,b7 may h a li5
 on rev5ues describ$ 9 subp>agraph 7,a71
 subject to any li5 secur+ project      

obligations4  7#f7 ,p]iod ( availability
 ,! full am\nt ( a l9e ( cr$it "u ?is   
section1 to ! ext5t n drawn ^u1 %all be 
available dur+ ! #aj-ye> p]iod beg9n+ on
 ! date ( sub/antial completion ( !     
project4  7#g7 ,rights ( ?ird-p>ty      
cr$itors  7,a7 ,aga9/ ,f$]al ,gov]nm5t  
,a ?ird-p>ty cr$itor ( ! obligor %all n 
h any "r aga9/ ! ,f$]al ,gov]nm5t )     
respect to any draw on a l9e ( cr$it "u 
?is section4  7,b7 ,assignm5t ,an       
obligor may assign a l9e ( cr$it "u ?is 
section to-- 7i7 "o or m l5d]s2 or  7ii7
 a tru/ee on ! behalf ( su* a l5d]4     
7#h7 ,nonsubord9ation  7,a7 ,9 g5]al    
,except z provid$ 9 subp>agraph 7,b71 a 
direct loan "u ?is section %all n be    
subord9at$ to ! claims ( any hold] (    
project obligations 9 ! ev5t (          
bankruptcy1 insolv5cy1 or liquidation ( 
! obligor4  7,b7 ,pre-exi/+ ind5ture    
7i7 ,9 g5]al ,! ,assi/ant ,secret>y %all
 waive ! requirem5t ( subp>agraph 7,a7 =
 a public ag5cy borr[] t is f9anc+ ongo+
 capital programs & has out/&+ s5ior    

bonds "u a preexi/+ ind5ture1 if--  7,i7
 ! l9e ( cr$it-- 7aa7 is rat$ 9 ! ,a    
category or high]2 or  7bb7 9 ! case ( a
 small project1 meets an alt]native /&>d
 t ! ,assi/ant ,secret>y %all e/abli% "u
 section #f = purposes ( ?is subclause2 
7,,ii7 ! ,,bifia program loan result+ f 
a draw on ! l9e ( cr$it is payable f    
pl$g$ rev5ues n affect$ by project      
p]=mance1 su* z a tax-back$ rev5ue pl$ge
 or a sy/em-back$ pl$ge ( project       
rev5ues2 &  7,,iii7 ! ,,bifia program   
%>e ( eligible project co/s is #cc p]c5t
 or less4  7ii7 ,limitation ,if !       
,assi/ant ,secret>y waives !            
nonsubord9ation requirem5t "u ?is       
subp>agraph--  7,i7 ! maximum cr$it     
subsidy to be paid by ! ,f$]al ,gov]nm5t
 %all be n m ?an #aj p]c5t ( ! pr9cipal 
am\nt ( ! secur$ loan2 &  7,,ii7 !      
obligor %all be responsible = pay+ !    
rema9d] ( ! subsidy co/4  7#i7 ,fees ,! 
,assi/ant ,secret>y may e/abli% fees at 
a level suffici5t to cov] all or a      
portion ( ! co/s to ! ,f$]al ,gov]nm5t (

 provid+ a l9e ( cr$it "u ?is section4  
7#aj7 ,relation%ip to o!r cr$it         
in/rum5ts ,a project t receives a l9e ( 
cr$it "u ?is section may n also receive 
a secur$ loan or loan gu>antee "u       
section #d 9 an am\nt t1 comb9$ ) !     
am\nt ( ! l9e ( cr$it1 exce$s #di p]c5t 
( eligible project co/s4  7c7 ,repaym5t 
7#a7 ,t]ms & conditions ,! ,assi/ant    
,secret>y %all e/abli% repaym5t t]ms &  
conditions = ea* direct loan "u ?is     
section bas$ on--  7,a7 ! project$ ca%  
fl[ f project rev5ues & o!r repaym5t    
s\rces2 &  7,b7 ! useful life ( !       
infra/ructure = ! provision ( broadb&   
s]vice be+ f9anc$4  7#b7 ,tim+ ,all     
repaym5ts ( pr9cipal or int]e/ on a     
direct loan "u ?is section %all be      
s*$ul$-- 7,a7 to comm5ce n lat] ?an #e  
ye>s aft] ! end ( ! p]iod ( availability
 specifi$ 9 subsection 7b77#f72 &  7,b7 
to conclude1 ) full repaym5t ( pr9cipal 
& int]e/1 by ! date t is #be ye>s aft] !
 end ( ! p]iod ( availability specifi$ 9
 subsection 7b77#f74  #f4 ,alt]native   

prud5tial l5d+ /&>ds = small projects ,n
 lat] ?an #ahj days aft] ! date ( !     
enactm5t ( ?is ,act1 ! ,assi/ant        
,secret>y %all e/abli% alt]native1      
/reaml9$ prud5tial l5d+ /&>ds = small   
projects receiv+ cr$it assi/ance "u !   
,,bifia program to ensure t su* projects
 pose no additional risk to ! ,f$]al    
,gov]nm5t1 z comp>$ ) projects t are n  
small projects4  #g4 ,program           
adm9i/ration  7a7 ,requirem5t ,!        
,assi/ant ,secret>y %all e/abli% a uni=m
 sy/em to s]vice ! ,f$]al cr$it         
in/rum5ts made available "u ! ,,bifia   
program4  7b7 ,fees ,! ,assi/ant        
,secret>y may collect & sp5d fees1      
cont+5t on au?ority be+ provid$ 9       
appropriations ,acts1 at a level t is   
suffici5t to cov]--  7#a7 ! co/s (      
s]vices ( exp]t firms reta9$ pursuant to
 subsection 7d72 &  7#b7 all or a       
portion ( ! co/s to ! ,f$]al ,gov]nm5t (
 s]vic+ ! ,f$]al cr$it in/rum5ts4  7c7  
,s]vic]  7#a7 ,9 g5]al ,! ,assi/ant     
,secret>y may appo9t a f9ancial entity  

to assi/ ! ,assi/ant ,secret>y 9 s]vic+ 
! ,f$]al cr$it in/rum5ts4  7#b7 ,duties 
,a s]vic] appo9t$ "u p>agraph 7#a7 %all 
act z ! ag5t = ! ,assi/ant ,secret>y4   
7#c7 ,fee ,a s]vic] appo9t$ "u p>agraph 
7#a7 %all receive a s]vic+ fee1 subject 
to approval by ! ,assi/ant ,secret>y4   
7d7 ,assi/ance ,f ,exp]t ,firms ,!      
,assi/ant ,secret>y may reta9 ! s]vices 
( exp]t firms1 includ+ c\nsel1 9 ! field
 ( municipal & project f9ance to assi/ 9
 ! und]writ+ & s]vic+ ( ,f$]al cr$it    
in/rum5ts4  7e7 ,exp$it$ ,process+ ,!   
,assi/ant ,secret>y %all implem5t       
proc$ures & measures to economize ! "t &
 co/ involv$ 9 obta9+ approval & !      
issuance ( cr$it assi/ance "u ! ,,bifia 
program4  7f7 ,assi/ance to ,small      
,projects ,( ! am\nt appropriat$ "u     
section #aj7;a71 & aft] ! set-aside =   
adm9i/rative exp5ses "u section #aj7;b71
 n less ?an #bj p]c5t %all be made      
available = ! ,assi/ant ,secret>y to use
 9 lieu ( fees collect$ "u subsection   
7b7 = small projects4  #h4 ,/ate & local

 p]mits ,! provision ( cr$it assi/ance  
"u ! ,,bifia program ) respect to a     
project %all n-- 7#a7 relieve any       
recipi5t ( ! assi/ance ( any obligation 
to obta9 any requir$ ,/ate or local     
p]mit or approval ) respect to !        
project2  7#b7 limit ! "r ( any unit (  
,/ate or local gov]nm5t to approve or   
regulate any rate ( return on private   
equity inve/$ 9 ! project2 or  7#c7     
o!rwise sup]s$e any ,/ate or local law  
7includ+ any regulation7 applicable to !
 con/ruction or op]ation ( ! project4   
#i4 ,regulations ,! ,assi/ant ,secret>y 
may promulgate su* regulations z !      
,assi/ant ,secret>y det]m9es to be      
appropriate to c>ry out ! ,,bifia       
program4  #aj4 ,fund+  7a7 ,au?orization
 ( appropriations ,!re are au?oriz$ to  
be appropriat$ to ! ,assi/ant ,secret>y 
to c>ry out ?is ,act #e1jjj1jjj1jjj =   
fiscal ye> #bjbj1 to rema9 available    
until exp5d$4  7b7 ,adm9i/rative exp5ses
 ,( ! am\nt appropriat$ "u subsection   
7a71 ! ,assi/ant ,secret>y may use n m  

?an #e p]c5t = ! adm9i/ration ( !       
,,bifia program4  #aa4 ,reports to      
,congress  7a7 ,9 ,g5]al ,n lat] ?an #a 
ye> aft] ! date ( ! enactm5t ( ?is ,act1
 & e #b ye>s !reaft]1 ! ,assi/ant       
,secret>y %all submit to ,congress a    
report summ>iz+ ! f9ancial p]=mance ( ! 
projects t are receiv+1 or h receiv$1   
assi/ance "u ! ,,bifia program1 includ+ 
a recomm5dation z to :e!r ! objectives (
 ! ,,bifia program are be/ s]v$ by--    
7#a7 cont9u+ ! program "u ! au?ority ( !
 ,assi/ant ,secret>y2 or  7#b7 e/abli%+ 
a ,f$]al corporation or f$]ally sponsor$
 ent]prise to adm9i/] ! program4  7b7   
,application ,process ,report  7#a7 ,9  
g5]al ,n lat] ?an #a ye> aft] ! date ( !
 enactm5t ( ?is ,act1 & annually        
!reaft]1 ! ,assi/ant ,secret>y %all     
submit to ! ,committee on ,en]gy &      
,comm]ce ( ! ,h\se ( ,repres5tatives & !
 ,committee on ,comm]ce1 ,sci5ce1 &     
,transportation ( ! ,s5ate a report t   
includes a li/ ( all ( ! lett]s ( int]e/
 & applications receiv$ = assi/ance "u !

 ,,bifia program dur+ ! prec$+ fiscal   
ye>4  7#b7 ,inclusions  7,a7 ,9 g5]al   
,ea* report "u p>agraph 7#a7 %all       
include1 at a m9imum1 a description (1 )
 respect to ea* lett] ( int]e/ &        
application includ$ 9 ! report--  7i7 ! 
date on :i* ! lett] ( int]e/ or         
application 0 receiv$2  7ii7 ! date on  
:i* a notification 0 provid$ to !       
applicant reg>d+ :e!r ! application 0   
complete or incomplete2  7iii7 ! date on
 :i* a revis$ & complet$ application 0  
submitt$ 7if applicable72  7iv7 ! date  
on :i* a notification 0 provid$ to !    
applicant reg>d+ :e!r ! project 0       
approv$ or disapprov$2 &  7v7 if !      
project 0 n approv$1 ! reason = !       
disapproval4  7,b7 ,correspond5ce ,ea*  
report "u p>agraph 7#a7 %all include    
copies ( any correspond5ce provid$ to ! 
applicant 9 accordance ) section #c7;d74