#aafth ,,congress  #b;d ,session  ,s4   
#djge  ,,an ,,act  ,to amend the ,public
 ,works and ,economic ,development ,act 
of #aife to provide for the release of  
certain ,federal interests in connection
 with certain grants under that ,act1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,reinvigorating ,lending for the ,future
 ,act or the ,,rlf ,act4  #b4 ,release  
of certain interests ,section           
#fja7;d77#b7 of the ,public ,works and  
,economic ,development ,act of #aife    
7#db ,u4,s4,c4 #cbaa7;d77#b77 is        
amended-- 7#a7 by striking the paragraph
 designation and heading and all that   
follows through ,the ,secretary may and 
inserting the following3  7#b7 ,release 
7,a7 ,in general ,except as provided in 
subparagraph 7,b71 the ,secretary may  2
 and  7#b7 by adding at the end the     
following3  7,b7 ,certain releases  7i7 
,in general ,on written request from a  
recipient of a grant under section      
#bji7;d71 the ,secretary shall release1 

in accordance with this subparagraph1   
any ,federal interest in connection with
 the grant1 if-- 7,i7 the request is    
made not less than #g years after the   
final disbursement of the original      
grant2  7,,ii7 the recipient has        
complied with the terms and conditions  
of the grant to the satisfaction of the 
,secretary2  7,,iii7 any proceeds       
realized from the grant will be used for
 #a or more activities that continue to 
carry out the economic development      
purposes of this ,act2 and  7,,iv7 the  
recipient includes in the written       
request a description of how the        
recipient will use the proceeds of the  
grant in accordance with subclause      
7,,iii74  7ii7 ,deadline  7,i7 ,in      
general ,except as provided in subclause
 7,,ii71 the ,secretary shall complete  
all closeout actions for the grant by   
not later than #ahj days after receipt  
and acceptance of the written request   
under clause 7i74  7,,ii7 ,extension    
,the ,secretary may extend a deadline   

under subclause 7,i7 by an additional   
#ahj days if the ,secretary determines  
the extension to be necessary4  7iii7   
,savings provision ,section #fjb shall  
continue to apply to a project assisted 
with a grant under section #bji7;d7     
regardless of whether the ,secretary    
releases a ,federal interest under      
clause 7i74  4  ,passed the ,senate     
,august #f1 #bjbj4,secretary