,,ii #aafth ,,congress #ast ,session ,s4 #bied ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,november #ba1 #bjai,mrs4 ,shaheen 7for herself and ,mr4 ,booker7 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 of pilot program ,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 credits 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 participating ,states2 7#c7 to analyze the impact of the purchase or sale of toll credits on transportation expenditures2 and 7#d7 to test the feasibility of expanding the toll credit market to allow all ,states to participate on a permanent basis4 7d7 ,participants ,the ,secretary shall select not fewer than #aj ,states to participate in the pilot program4 7e7 ,administration ,in carrying out the pilot program1 the ,secretary-- 7#a7 shall establish procedures for a toll credit marketplace2 7#b7 not later than #ij days after the date of enactment of this ,act1 shall provide notice to ,states that the ,secretary is requesting participants for the pilot program2 and 7#c7 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 balance4 7f7 ,transfer or sale of toll credits 7#a7 ,in general ,in carrying out the pilot program1 the ,secretary shall allow a participating ,state to sell a toll credit not previously used by the ,state under section #abj7;i7 of title #bc1 ,united ,states ,code4 7#b7 ,requirement ,a ,state participating in the toll credit marketplace shall be subject to section #abj7;i77#b7 of title #bc1 ,united ,states ,code4 7#c7 ,website support ,the ,secretary shall establish an online platform that allows participating ,states to offer and bid on toll credit purchases4 7#d7 ,oversight 7,a7 ,in general ,the ,secretary may-- 7i7 review any purchase and sale of a toll credit under the pilot program2 and 7ii7 limit or prohibit a purchase or sale of a toll credit under the pilot program if the ,secretary determines that the purchase or sale is not consistent with the purposes of the pilot program4 7,b7 ,appeal ,if the ,secretary limits or prohibits a purchase or sale of a toll credit under subparagraph 7,a77ii7-- 7i7 the ,secretary shall provide to the ,state notice of that determination2 7ii7 not later than #cj days after the date on which the ,state receives the notice under clause 7i71 the ,state may request that the ,secretary reconsider the determination2 and 7iii7 not later than #fj days after the date on which the ,secretary receives a request under clause 7ii71 the ,secretary shall make a determination on the request4 7g7 ,use of toll credits and funds 7#a7 ,use of toll credits by purchaser ,a participating ,state shall use a toll credit purchased under the pilot program toward the non-,federal share requirement for a project carried out under title #bc or chapter #ec of title #di1 ,united ,states ,code1 in accordance with section #abj7;i7 of title #bc1 ,united ,states ,code4 7#b7 ,use of proceeds from sale of toll credits ,a participating ,state shall use the proceeds from the sale of a toll credit under the pilot program for a project eligible for assistance under title #bc or chapter #ec of title #di1 ,united ,states ,code4 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 ,a ,state1 metropolitan planning organization1 or local government may not use ,federal funds to purchase toll credits on the toll credit marketplace4 7j7 ,reporting requirements 7#a7 ,state report ,not later than #cj days after each purchase or sale in the toll credit marketplace under the pilot program-- 7,a7 the ,state that sold the toll credit shall provide to the ,secretary information on the transaction1 including-- 7i7 the amount of cash received2 7ii7 the value of the toll credit sold2 7iii7 the intended use of the cash2 and 7iv7 the remaining toll credit balance of the ,state2 and 7,b7 the ,state that purchased the toll credit shall provide to the ,secretary information on-- 7i7 the value of the toll credit purchased2 and 7ii7 the anticipated use of the toll credit4 7#b7 ,annual reports ,not later than #a year after the date on which the pilot program is established under subsection 7b7 and each year thereafter for the duration of the pilot program1 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 toll credit marketplace4 7#c7 ,final report ,not later than the date on which the pilot program terminates under subsection 7l71 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 evaluates whether a toll credit marketplace is viable2 7ii7 describes the buying and selling activities of the toll credit marketplace2 7iii7 determines the average sales price of toll credits2 7iv7 evaluates whether the pilot program could be expanded to more ,states or all ,states2 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 ,secretary4 7k7 ,,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 an evaluation regarding whether the pilot program is successful2 and 7,b7 any recommendations on how to improve the pilot program4 7l7 ,sunset ,the pilot program shall terminate on the date that is #e years after the date on which the pilot program is established4