,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bied  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #ba1          
#bjai,mrs4 ,%ahe5 7= h]self & ,mr4      
,book]7 introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,environm5t & ,public ,works  ,a ,,bill 
,to e/abli% a pilot toll cr$it          
m>ketplace program1 & = o!r purposes4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,toll ,cr$it ,m>ketplace ,act4  #b4   
,toll cr$it m>ketplace pilot program    
7a7 ,def9itions ,9 ?is section3  7#a7   
,pilot program ,! t]m pilot program     
means ! toll cr$it m>ketplace pilot     
program e/abli%$ "u subsection 7b74     
7#b7 ,secret>y ,! t]m ,secret>y means ! 
,secret>y ( ,transportation4  7#c7 ,/ate
 ,! t]m ,/ate has ! mean+ giv5 ! t]m 9  
section #aja ( title #bc1 ,unit$ ,/ates 
,code4  7#d7 ,toll cr$it ,! t]m toll    
cr$it means ! cr$it t c be us$ t[>d !   
non-,f$]al %>e requirem5t "u section    
#abj7;i7 ( title #bc1 ,unit$ ,/ates     
,code4  7#e7 ,toll cr$it m>ketplace ,!  

t]m toll cr$it m>ketplace means a m>ket 
9 :i* toll cr$its c be pur*as$ & sold by
 ,/ates p>ticipat+ 9 ! pilot program4   
7b7 ,e/abli%m5t ( pilot program ,n lat] 
?an #a ye> aft] ! date ( enactm5t ( ?is 
,act1 ! ,secret>y %all e/abli% &        
implem5t a pilot program to develop a   
toll cr$it m>ketplace = ,/ates to buy & 
sell toll cr$its 9 accordance ) ?is     
section4  7c7 ,purposes ,! purposes ( ! 
pilot program are-- 7#a7 to id5tify !   
ext5t ( ! dem& to pur*ase toll cr$its2  
7#b7 to id5tify ! ca% price ( toll      
cr$its ?r\gh bilat]al transactions      
betwe5 p>ticipat+ ,/ates2  7#c7 to      
analyze ! impact ( ! pur*ase or sale (  
toll cr$its on transportation           
exp5ditures2 &  7#d7 to te/ !           
feasibility ( exp&+ ! toll cr$it m>ket  
to all[ all ,/ates to p>ticipate on a   
p]man5t basis4  7d7 ,p>ticipants ,!     
,secret>y %all select n few] ?an #aj    
,/ates to p>ticipate 9 ! pilot program4 
7e7 ,adm9i/ration ,9 c>ry+ out ! pilot  
program1 ! ,secret>y--  7#a7 %all       

e/abli% proc$ures = a toll cr$it        
m>ketplace2  7#b7 n lat] ?an #ij days   
aft] ! date ( enactm5t ( ?is ,act1 %all 
provide notice to ,/ates t ! ,secret>y  
is reque/+ p>ticipants = ! pilot        
program2 &  7#c7 %all all[ to p>ticipate
 9 ! pilot program-- 7,a7 a ,/ate t     
ma9ta9s a toll cr$it balance accumulat$ 
be=e ! date ( enactm5t ( ?is ,act2  7,b7
 a ,/ate t does n ma9ta9 infra/ructure =
 ! collection ( toll cr$its2 &  7,c7 a  
,/ate t has n accumulat$ a toll cr$it   
balance4  7f7 ,transf] or sale ( toll   
cr$its  7#a7 ,9 g5]al ,9 c>ry+ out !    
pilot program1 ! ,secret>y %all all[ a  
p>ticipat+ ,/ate to sell a toll cr$it n 
previ\sly us$ by ! ,/ate "u section     
#abj7;i7 ( title #bc1 ,unit$ ,/ates     
,code4  7#b7 ,requirem5t ,a ,/ate       
p>ticipat+ 9 ! toll cr$it m>ketplace    
%all be subject to section #abj7;i77#b7 
( title #bc1 ,unit$ ,/ates ,code4  7#c7 
,website support ,! ,secret>y %all      
e/abli% an onl9e plat=m t all[s         
p>ticipat+ ,/ates to (f] & bid on toll  

cr$it pur*ases4  7#d7 ,ov]sight  7,a7 ,9
 g5]al ,! ,secret>y may-- 7i7 review any
 pur*ase & sale ( a toll cr$it "u !     
pilot program2 &  7ii7 limit or prohibit
 a pur*ase or sale ( a toll cr$it "u !  
pilot program if ! ,secret>y det]m9es t 
! pur*ase or sale is n consi/5t ) !     
purposes ( ! pilot program4  7,b7       
,appeal ,if ! ,secret>y limits or       
prohibits a pur*ase or sale ( a toll    
cr$it "u subp>agraph 7,a77ii7--  7i7 !  
,secret>y %all provide to ! ,/ate notice
 ( t det]m9ation2  7ii7 n lat] ?an #cj  
days aft] ! date on :i* ! ,/ate receives
 ! notice "u clause 7i71 ! ,/ate may    
reque/ t ! ,secret>y reconsid] !        
det]m9ation2 &  7iii7 n lat] ?an #fj    
days aft] ! date on :i* ! ,secret>y     
receives a reque/ "u clause 7ii71 !     
,secret>y %all make a det]m9ation on !  
reque/4  7g7 ,use ( toll cr$its & funds 
7#a7 ,use ( toll cr$its by pur*as] ,a   
p>ticipat+ ,/ate %all use a toll cr$it  
pur*as$ "u ! pilot program t[>d !       
non-,f$]al %>e requirem5t = a project   

c>ri$ out "u title #bc or *apt] #ec (   
title #di1 ,unit$ ,/ates ,code1 9       
accordance ) section #abj7;i7 ( title   
#bc1 ,unit$ ,/ates ,code4  7#b7 ,use (  
proce$s f sale ( toll cr$its ,a         
p>ticipat+ ,/ate %all use ! proce$s f ! 
sale ( a toll cr$it "u ! pilot program =
 a project eligible = assi/ance "u title
 #bc or *apt] #ec ( title #di1 ,unit$   
,/ates ,code4  7h7 ,metropolitan plann+ 
organization & local gov]nm5t toll cr$it
 allocation  7#a7 ,pur*ase ( toll cr$its
 ,on reque/ ( a metropolitan plann+     
organization or local gov]nm5t 9 !      
,/ate1 & ) a timely paym5t ( ! am\nt ( !
 toll cr$its1 a ,/ate may pur*ase toll  
cr$its "u ?is section on behalf ( !     
metropolitan plann+ organization or     
local gov]nm5t4  7#b7 ,allocation ( toll
 cr$its ,on approval ( ! relevant       
metropolitan plann+ organization or     
local gov]nm5t1 a ,/ate may allocate    
toll cr$its pur*as$ by ! ,/ate = use by 
! metropolitan plann+ organization or   
local gov]nm5t4  7i7 ,limitation on use 

( ,f$]al funds = ! pur*ase ( toll cr$its
 ,a ,/ate1 metropolitan plann+          
organization1 or local gov]nm5t may n   
use ,f$]al funds to pur*ase toll cr$its 
on ! toll cr$it m>ketplace4  7j7        
,report+ requirem5ts  7#a7 ,/ate report 
,n lat] ?an #cj days aft] ea* pur*ase or
 sale 9 ! toll cr$it m>ketplace "u !    
pilot program--  7,a7 ! ,/ate t sold !  
toll cr$it %all provide to ! ,secret>y  
in=mation on ! transaction1 includ+--   
7i7 ! am\nt ( ca% receiv$2  7ii7 ! value
 ( ! toll cr$it sold2  7iii7 ! int5d$   
use ( ! ca%2 &  7iv7 ! rema9+ toll cr$it
 balance ( ! ,/ate2 &  7,b7 ! ,/ate t   
pur*as$ ! toll cr$it %all provide to !  
,secret>y in=mation on-- 7i7 ! value ( !
 toll cr$it pur*as$2 &  7ii7 !          
anticipat$ use ( ! toll cr$it4  7#b7    
,annual reports ,n lat] ?an #a ye> aft] 
! date on :i* ! pilot program is        
e/abli%$ "u subsection 7b7 & ea* ye>    
!reaft] = ! duration ( ! pilot program1 
! ,secret>y %all submit to ! ,committee 
on ,environm5t & ,public ,works ( !     

,s5ate & ! ,committee on ,transportation
 & ,infra/ructure ( ! ,h\se (           
,repres5tatives a report on ! progress (
 ! toll cr$it m>ketplace4  7#c7 ,f9al   
report ,n lat] ?an ! date on :i* ! pilot
 program t]m9ates "u subsection 7l71 !  
,secret>y %all--  7,a7 submit to !      
,committee on ,environm5t & ,public     
,works ( ! ,s5ate & ! ,committee on     
,transportation & ,infra/ructure ( !    
,h\se ( ,repres5tatives a report t--    
7i7 evaluates :e!r a toll cr$it         
m>ketplace is viable2  7ii7 describes ! 
buy+ & sell+ activities ( ! toll cr$it  
m>ketplace2  7iii7 det]m9es ! av]age    
sales price ( toll cr$its2  7iv7        
evaluates :e!r ! pilot program c\ld be  
exp&$ to m ,/ates or all ,/ates2  7v7   
provides updat$ in=mation on ! toll     
cr$it balance accumulat$ by ea* ,/ate2 &
  7vi7 describes ! li/ ( projects t 7   
assi/$ by ! pilot program2 &  7,b7 make 
! report "u subp>agraph 7,a7 publicly   
available on ! website ( ! ,secret>y4   
7k7 ,,gao report ,aft] ! end ( ! fir/   

ye> dur+ :i* ! toll cr$it m>ketplace is 
9 op]ation1 ! ,comptroll] ,g5]al ( !    
,unit$ ,/ates %all--  7#a7 conduct a    
/udy on ! p]=mance ( ! toll cr$it       
m>ketplace2 &  7#b7 submit to ,congress 
a report t includes--  7,a7 an          
evaluation reg>d+ :e!r ! pilot program  
is successful2 &  7,b7 any              
recomm5dations on h[ to improve ! pilot 
program4  7l7 ,sunset ,! pilot program  
%all t]m9ate on ! date t is #e ye>s aft]
 ! date on :i* ! pilot program is       
e/abli%$4