,,ii #aaf? ,,congress #a/ ,session ,s4 #bdjc ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,july #ca1 #bjai,mr4 ,m]kley 7= himself1 ,mr4 ,s&]s1 ,ms4 ,cortez ,ma/o1 ,ms4 ,smi?1 ,ms4 ,h>ris1 ,mr4 ,book]1 ,mr4 ,wyd51 ,mr4 ,:iteh\se1 ,mr4 ,he9ri*1 ,mrs4 ,gillibr&1 & ,mrs4 ,murray7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to au?orize ! ,secret>y ( ,transportation to provide loans = ! acquisition ( electric buses & relat$ infra/ructure4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,community ,heal? & ,clean ,transit ,act ( #bjai4 #b4 ,def9itions ,9 ?is ,act-- 7#a7 ! t]m cov]$ loan means a direct loan made by ! ,secret>y "u section #d2 7#b7 ! t]m electric bus means a bus t is a z]o emission vehicle 7z def9$ 9 section #ecci7;c77#a7 ( title #di1 ,unit$ ,/ates ,code7 t is fully batt]y-p[]$2 7#c7 ! t]m eligible entity means an eligible recipi5t1 z describ$ 9 section #ecci7;a77#d7 ( title #di1 ,unit$ ,/ates ,code2 7#d7 ! t]m eligible project has ! mean+ giv5 ! t]m 9 section #ecci7;c77#a7 ( title #di1 ,unit$ ,/ates ,code1 except t t def9ition %all be appli$ by sub/itut+ electric buses = l[ or no emission vehicles2 7#e7 ! t]m eligible project co/-- 7,a7 means ! co/ ( an eligible project2 & 7,b7 includes 7& 9 ! case ( an eligible project describ$ 9 clause 7i71 7ii71 or 7iii7 ( section #ecci7;c77#a77;,b71 means only7-- 7i7 ! increm5tal co/ ( acquir+ an electric bus necess>y to meet ! ne$s ( ! eligible entity1 z comp>$ to ! av]age co/ ( a diesel bus2 & 7ii7 ! co/ ( te*nical assi/ance = ! acquisition1 f9anc+1 & op]ation ( an electric bus & relat$ infra/ructure1 includ+ te*nical assi/ance = r\te electrification1 te*nology selection1 & vehicle-to-grid int]fac+2 7#f7 ! t]m ,secret>y1 except z o!rwise provid$1 means ! ,secret>y ( ,transportation2 & 7#g7 ! t]m subsidy am\nt means ! am\nt ( budget au?ority suffici5t to cov] ! e/imat$ long-t]m co/ to ! ,f$]al ,gov]nm5t ( a cov]$ loan-- 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 #c4 ,purpose ,! purpose ( ?is ,act is to help entities t provide or f9ance public transportation to *oose & be able to af=d ! be/ vehicles = _! ne$s1 & to a*ieve fuel & ma9t5ance co/ sav+s1 by provid+ loans to eligible entities to acquire electric buses & relat$ infra/ructure4 #d4 ,au?orization to provide assi/ance ,! ,secret>y may make a direct loan to an eligible entity = eligible project co/s4 #e4 ,applications 7a7 ,9 g5]al ,except z provid$ 9 subsection 7b71 an eligible entity desir+ a cov]$ loan %all submit to ! ,secret>y an application t-- 7#a7 includes an implem5tation plan = use ( ! cov]$ loan2 7#b7 e/imates ! am\nts ! eligible entity w save on fuel & ma9t5ance co/s due to ! cov]$ loan2 & 7#c7 provides reasonable assurance t ! eligible entity w make all paym5ts on ! cov]$ loan4 7b7 ,l9k to l[ or no emission bus & bus facilities grant applications ,! ,secret>y %all e/abli% a proc$ure "u :i* an eligible entity t submits an application "u section #ecci7;c7 ( title #di1 ,unit$ ,/ates ,code1 = a grant relat+ to a l[ or no emission bus or bus facility may am5d ! application to also be consid]$ = a cov]$ loan "u ?is ,act )\t hav+ to submit a sep>ate application "u ?is section4 7c7 ,guidance & be/ practices ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y ( ,en]gy1 9 consultation ) ! ,secret>y ( ,transportation1 %all develop & publi% on ! website ( ! ,dep>tm5t ( ,en]gy guidance on be/ practices = transit di/ricts to ent] into innovative relation%ips ) public utilities & bus manufactur]s to incorporate into op]ations & f9anc+ ( electric buses & infra/ructure-- 7#a7 second>y use ( ! batt]y2 7#b7 vehicle-to-grid integration2 7#c7 *>g+ infra/ructure co/ %>es2 or 7#d7 batt]y p]=mance gu>antees4 #f4 ,t]ms & conditions 7a7 ,9 g5]al ,a cov]$ loan-- 7#a7 %all n accrue int]e/2 & 7#b7 %all be on su* t]ms & conditions & conta9 su* cov5ants1 repres5tations1 w>ranties1 & requirem5ts 7includ+ requirem5ts = audits7 z ! ,secret>y may prescribe4 7b7 ,t]m ( loan ,! ,secret>y may provide a cov]$ loan only if ! f9al maturity date ( ! cov]$ loan is n lat] ?an ! date on :i* ! electric bus acquir$ us+ ! cov]$ loan is expect$ to exce$ its useful life1 bas$ on ! av]age life expectancy ( ! electric bus4 7c7 ,buy ,am]ica ,section #ecbc7;j7 ( title #di1 ,unit$ ,/ates ,code1 %all apply ) respect to a project fund$ us+ a cov]$ loan 9 ! same mann] z to a project fund$ us+ am\nts appropriat$ to c>ry out *apt] #ec ( su* title #di4 7d7 ,non-,f$]al %>e = ,l[-,no grants ,! proce$s ( a cov]$ loan may be us$ = any non-,f$]al %>e ( project co/s requir$ "u section #ecci7;c7 ( title #di1 ,unit$ ,/ates ,code1 if ! cov]$ loan is repayable f non-,f$]al funds4 #g4 ,repaym5t 7a7 ,comm5cem5t ,s*$ul$ repaym5ts ( pr9cipal on a cov]$ loan provid$ to an eligible entity %all comm5ce n lat] ?an #ahj days aft] ! date on :i* ! eligible entity places 9 rev5ue s]vice ! electric bus & necess>y infra/ructure t 7 acquir$ us+ ! cov]$ loan4 7b7 ,prepaym5t ,an eligible entity may make repaym5ts on a cov]$ loan 9 advance ( ! s*$ul$ repaym5t date ) no p5alty4 7c7 ,del9qu5cy ,not)/&+ any o!r provision ( law1 if an eligible entity fails to make a s*$ul$ repaym5t on a cov]$ loan1 ! ,secret>y may )hold f ! eligible entity an equival5t am\nt ( any assi/ance t w\ld o!rwise be provid$ to ! eligible entity "u a =mula grant program "u *apt] #ec ( title #di1 ,unit$ ,/ates ,code4 #h4 ,availability ( funds ,subject to ! availability ( funds & except z o!rwise provid$ 9 ?is ,act1 am\nts provid$ by ! ,secret>y "u ?is ,act %all be available until exp5d$4 #i4 ,au?orization ( appropriations 7a7 ,9 g5]al ,!re is au?oriz$ to be appropriat$ #ae1jjj1jjj = ea* ( ! fir/ #e fiscal ye>s beg9n+ aft] ! date ( enactm5t ( ?is ,act = ! subsidy am\nt ( cov]$ loans4 7b7 ,adm9i/rative co/s ,!re is au?oriz$ to be appropriat$ su* sums z are necess>y = ! adm9i/rative co/ ( provid+ cov]$ loans4