,i #aag? ,,congress #a/ ,session ,h4 ,r4 #cgbb ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #d1 #bjba ,mr4 ,sean ,patrick ,maloney ( ,new ,york introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,transportation & ,infra/ructure1 & 9 addition to ! ,committee on ,f9ancial ,s]vices1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to e/abli% ! #ba/ ,c5tury ,am]ican ,infra/ructure ,bank1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! #ba/ ,c5tury ,infra/ructure ,bank ,act4 #b4 #ba/ ,c5tury ,am]ican ,infra/ructure ,bank 7a7 ,e/abli%m5t ,!re is h]eby e/abli%$ a :olly own$ ,gov]nm5t corporation to be kn[n z ! #ba/ ,c5tury ,am]ican ,infra/ructure ,bank 7h]e9aft] ref]r$ to z ! ,bank71 :i* %all provide f9ancial assi/ance = qualifi$ infra/ructure projects1 9 accordance ) ! requirem5ts ( ?is section4 7b7 ,bo>d ( tru/ees 7#a7 ,9 g5]al ,! head ( ! ,bank %all be a bo>d ( tru/ees 7h]e9aft] ref]r$ to z ! ,bo>d74 7#b7 ,appo9tm5t ,! ,bo>d %all consi/ ( #i memb]s :o %all be appo9t$ by ! ,presid5t1 by & ) ! advice & cons5t ( ! ,s5ate1 & select$ z foll[s3 7,a7 #b individuals f a li/ ( at lea/ #e individuals select$ by ! ,speak] ( ! ,h\se ( ,repres5tatives4 7,b7 #b individuals f a li/ ( at lea/ #e individuals select$ by ! m9ority lead] ( ! ,h\se ( ,repres5tatives4 7,c7 #b individuals f a li/ ( at lea/ #e individuals select$ by ! majority lead] ( ! ,s5ate4 7,d7 #b individuals f a li/ ( at lea/ #e individuals select$ by ! m9ority lead] ( ! ,s5ate4 7,e7 #a individual select$ at w by ! ,presid5t4 7#c7 ,t]m 7,a7 ,9 g5]al ,! memb]s ( ! ,bo>d %all s]ve = a #f-ye> t]m1 & no memb] may s]ve = m ?an #b t]ms1 b a memb] may cont9ue to s]ve aft] ! expiration ( a t]m until ! successor memb] takes (fice4 7,b7 ,/agg]$ t]ms ,! memb]s ( ! ,bo>d %all s]ve /agg]$ t]ms1 ) #a ( ! initial memb]s ( ! ,bo>d s]v+ = a t]m ( #d ye>s & #b ea* ( ! initial memb]s ( ! ,bo>d s]v+ = t]ms ( #e1 #f1 #g1 & #h ye>s4 7,c7 ,vacancies ,a vacancy 9 a position ( a memb] ( ! ,bo>d %all be fill$ 9 ! same mann] 9 :i* ! orig9al position 0 fill$4 7#d7 ,comp5sation ,! memb]s ( ! ,bo>d %all receive comp5sation at ! rate ( basic pay payable = level ,,iv ( ! ,executive ,s*$ule "u section #ecae ( title #e1 ,unit$ ,/ates ,code4 7#e7 ,*air ,! memb]s ( ! ,bo>d %all select "o memb] to s]ve z ! ,*air ( ! ,bo>d4 7#f7 ,corporate gov]nance ,! ,securities & ,ex*ange ,commission %all issue corporate gov]nance /&>ds ) :i* ! ,bo>d %all comply1 & su* /&>ds %all be z close z practicable to ^? /&>ds requir$ to be foll[$ by ! bo>d ( directors ( an issu] li/$ on ! ,new ,york ,/ock ,ex*ange4 7#g7 ,conflicts ( int]e/ ,a memb] ( ! ,bo>d may n h a f9ancial int]e/ 9-- 7,a7 a qualifi$ infra/ructure project receiv+ f9ancial assi/ance f ! ,bank2 or 7,b7 an eligible infra/ructure provid] receiv+ f9ancial assi/ance f ! ,bank1 includ+ any municipal cr$it ( a ,/ate1 local1 or ,tribal gov]nm5t receiv+ f9ancial assi/ance f ! ,bank4 7c7 ,f9ancial assi/ance 7#a7 ,9 g5]al ,! ,bank %all provide loans & bond gu>antees to eligible infra/ructure provid]s = qualifi$ infra/ructure projects & make equity inve/m5ts 9 qualifi$ infra/ructure projects4 7#b7 ,application ,a p]son wi%+ to receive f9ancial assi/ance f ! ,bank ) respect to a qualifi$ infra/ructure project %all submit an application to ! ,bank 9 su* =m & conta9+ su* in=mation z ! ,bo>d may require4 7#c7 ,public transportation capital project requirem5ts ,any p]son receiv+ f9ancial assi/ance f ! ,bank 9 connection ) a public transportation capital project 7z su* t]ms are def9$ "u section #ecjb ( title #di1 ,unit$ ,/ates ,code7 %all1 z a condition on ! receipt ( su* f9ancial assi/ance1 comply ) ! grant requirem5ts applicable to grants made "u section #ecji ( su* title4 7#d7 ,limitation on f9ancial assi/ance = /ate-own$ ent]prises 7,a7 ,9 g5]al ,f9ancial assi/ance provid$ by ! ,bank may n be us$ 9 aw>d+ a contract or subcontract to an entity t is own$ or controll$ by1 is a subsidi>y (1 or is o!rwise relat$ legally or f9ancially to a corporation bas$ 9 a c\ntry t-- 7i7 is id5tifi$ z a nonm>ket economy c\ntry 7z def9$ 9 section #gga7ah7 ( ! ,t>iff ,act ( #aicj 7#ai ,u4,s4,c4 #afgg7ah777 z ( ! date ( enactm5t ( ?is ,act2 7ii7 0 id5tifi$ by ! ,unit$ ,/ates ,trade ,repres5tative 9 ! mo/ rec5t report requir$ by section #ahb ( ! ,trade ,act ( #aigd 7#ai ,u4,s4,c4 #bbdb7 z a priority =eign c\ntry "u subsection 7a77#b7 ( t section2 & 7iii7 is subject to monitor+ by ! ,trade ,repres5tative "u section #cjf ( ! ,trade ,act ( #aigd 7#ai ,u4,s4,c4 #bdaf74 7,b7 ,exception ,= purposes ( subp>agraph 7,a71 ! t]m o!rwise relat$ legally or f9ancially does n include a m9ority relation%ip or inve/m5t4 7,c7 ,int]national agreem5ts ,?is p>agraph %all be appli$ 9 a mann] consi/5t ) ! obligations ( ! ,unit$ ,/ates "u int]national agreem5ts4 7#e7 ,compliance ,) ,davis-,bacon ,act ,all labor]s & me*anics employ$ by contractors & subcontractors on qualifi$ infra/ructure projects t receive f9ancial assi/ance f ! ,bank %all be paid wages at rates n less ?an ^? prevail+ on projects ( a "* simil> 9 ! locality z det]m9$ by ! ,secret>y ( ,labor 9 accordance ) sub*apt] ,,iv ( *apt] #ca ( "p ,a ( title #dj1 ,unit$ ,/ates ,code4 ,) respect to ! labor /&>ds specifi$ 9 ?is section1 ! ,secret>y ( ,labor %all h ! au?ority & functions set =? 9 ,reorganization ,plan ,numb]$ #ad ( #aiej 7#fd ,/at4 #abfg2 #e ,u4,s4,c4 ,app47 & section #cade ( title #dj1 ,unit$ ,/ates ,code4 7#f7 ,use ( iron1 /eel1 & manufactur$ goods 9 infra/ructure projects 7,a7 ,buy ,am]ica ,none ( ! f9ancial assi/ance provid$ by ! ,bank may be us$ = a qualifi$ infra/ructure project unless all ( ! iron1 /eel1 & manufactur$ goods us$ = ! con/ruction1 alt]ation1 ma9t5ance or repair ( ! project are produc$ 9 ! ,unit$ ,/ates4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply 9 any case or category ( cases 9 :i* ! ,secret>y ( ! ,treasury f9ds t-- 7i7 apply+ subp>agraph 7,a7 w\ld be inconsi/5t ) ! public int]e/2 7ii7 iron1 /eel1 & ! relevant manufactur$ goods are n produc$ 9 ! ,unit$ ,/ates 9 suffici5t & reasonably available quantities & ( a satisfactory quality2 or 7iii7 inclusion ( iron1 /eel1 & manufactur$ goods produc$ 9 ! ,unit$ ,/ates w increase ! co/ ( ! ov]all qualifi$ infra/ructure project by m ?an #be p]c5t4 7,c7 ,publication ( waiv]s ,if ! ,secret>y ( ! ,treasury det]m9es t x is necess>y to waive ! application ( subp>agraph 7,a7 bas$ on a f9d+ "u subp>agraph 7,b71 ! ,secret>y %all publi% 9 ! ,f$]al ,regi/] a detail$ writt5 ju/ification z to :y ! provision is be+ waiv$4 7,d7 ,application ,?is p>agraph %all be appli$ 9 a mann] consi/5t ) ! ,unit$ ,/ates obligations "u int]national agreem5ts4 7,e7 ,consultations ,! ,secret>y ( ! ,treasury %all consult ) ! ,bo>d & may consult ) ! ,secret>y ( ,transportation & o!r ,f$]al ,secret>ies & ,adm9i/rators :5 apply+ ?is p>agraph4 7d7 ,risk ,managem5t ,committee 7#a7 ,9 g5]al ,! ,bo>d %all e/abli% a ,risk ,managem5t ,committee to e/abli% ! risk managem5t policies to be us$ by ! ,bank4 7#b7 ,employees ,! ,bo>d %all appo9t employees to ! ,risk ,managem5t ,committee :o ! ,bo>d has det]m9$ h significant & relevant exp]i5ce 9 insurance und]writ+ & cr$it risk managem5t4 7e7 ,fund+ 7#a7 ,initial capitalization ,out ( any funds 9 ! ,treasury n o!rwise appropriat$1 !re is appropriat$ to ! ,bo>d #ej1jjj1jjj1jjj z an initial capitalization to c>ry out ?is ,act4 7#b7 ,bonds 7,a7 ,9 g5]al ,! ,bo>d is au?oriz$ to issue1 "u su* t]ms & limitations z ! ,bo>d may e/abli% by rule-- 7i7 g5]al-purpose infra/ructure bonds1 ! proce$s ( :i* %all be us$ to c>ry out ?is ,act2 & 7ii7 qualifi$ infra/ructure project-specific infra/ructure bonds1 ! proce$s ( :i* %all be us$ to provide f9ancial assi/ance to ! applicable qualifi$ infra/ructure project4 7,b7 ,limitation on use ( proce$s = adm9i/rative exp5ses ,n m ?an #a p]c5t ( ! proce$s f ! issuance ( bonds describ$ "u subp>agraph 7,a7 may be us$ to pay = ! adm9i/rative exp5ses ( ! ,bank4 7,c7 ,exemption f local taxation ,bonds issu$ by ! ,bank1 & ! int]e/ on or cr$its ) respect to su* bonds1 %all n be subject to taxation by any ,/ate1 c\nty1 municipality1 or local tax+ au?ority4 7f7 ,reports & /udies 7#a7 ,annual report on ,bank activities ,! ,bo>d %all issue an annual report to ! applicable congressional committees describ+ ! activities ( ! ,bank dur+ ! previ\s ye>1 includ+ ! evaluations ( qualifi$ infra/ructure projects & ! f9anc+ assi/ance provid$ ) respect to su* projects4 7#b7 ,report on dome/ically s\rc$ mat]ials1 goods1 & products ,n less (t5 ?an e #b ye>s1 ! ,bo>d %all issue a report to ! applicable congressional committees t describes1 ( ! mat]ials1 goods1 & products t 7 us$ to con/ruct1 or to support ! con/ruction (1 qualifi$ infra/ructure projects receiv+ f9ancial assi/ance f ! ,bank )9 ! mo/ rec5t #b cal5d> ye>s1 ! p]c5tage ( su* mat]ials1 goods1 & products t 7 creat$1 s\rc$1 or manufactur$ 9 ! ,unit$ ,/ates4 7#c7 ,public database ( fund$ qualifi$ infra/ructure projects ,! ,bo>d %all develop1 ma9ta91 & update a publicly available database conta9+ descriptions ( ea* qualifi$ infra/ructure project receiv+ f9ancial assi/ance f ! ,bank1 includ+ ! am\nt & =m ( f9anc+4 7#d7 ,/udy on ,bank effectiv5ess 7,a7 ,/udy ,! ,bo>d %all1 e #b ye>s1 c>ry out a /udy to evaluate ! effectiv5ess ( ! f9ancial assi/ance provid$ by ! ,bank4 7,b7 ,report ,! ,bo>d %all issue a report to ! applicable congressional committees conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ "u subp>agraph 7,a74 7#e7 ,,gao /udy 7,a7 ,/udy ,aft] ! end ( ! #e-ye> p]iod beg9n+ on ! date ( enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all c>ry out a /udy to evaluate ! effectiv5ess ( ! f9ancial assi/ance provid$ by ! ,bank4 7,b7 ,report ,! ,comptroll] ,g5]al %all issue a report to ! applicable congressional committees conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ "u subp>agraph 7,a74 7g7 ,def9itions ,9 ?is section3 7#a7 ,applicable congressional committees ,! t]m applicable congressional committees means ! ,committee on ,transportation & ,infra/ructure ( ! ,h\se ( ,repres5tatives & ! ,committee on ,comm]ce1 ,sci5ce1 & ,transportation ( ! ,s5ate4 7#b7 ,bank ,! t]m ,bank means ! #ba/ ,c5tury ,am]ican ,infra/ructure ,bank4 7#c7 ,bo>d ,! t]m ,bo>d means ! bo>d ( tru/ees ( ! ,bank4 7#d7 ,eligible infra/ructure provid] ,! t]m eligible infra/ructure provid] means a ,/ate1 local gov]nm5t1 ,tribal gov]nm5t1 corporation1 nonpr(it entity1 public-private p>tn]%ip1 or any o!r p]son :o is or w be c>ry+ out a qualifi$ infra/ructure project4 7#e7 ,f9ancial assi/ance ,) respect to a qualifi$ infra/ructure project1 ! t]m f9ancial assi/ance means any loan or bond gu>antee provid$ "u ?is section ) respect to su* project1 & any equity inve/m5t made "u ?is section 9 su* project 7#f7 ,qualifi$ infra/ructure project ,! t]m qualifi$ infra/ructure project means a project-- 7,a7 sponsor$ by-- 7i7 a ,/ate1 local1 or ,tribal gov]nm5t1 or any political subdivision ( su* a gov]nm5t 7includ+ a transit ag5cy or port au?ority72 or 7ii7 a gr\p ( entities describ$ "u clause 7i71 includ+ a metropolitan plann+ organization2 7,b7 t is or w be own$ by an entity describ$ "u subp>agraph 7,a72 & 7,c7 t involves ! con/ruction1 ma9t5ance1 improvem5t1 or repair ( a transportation1 en]gy1 wat]1 communications1 or educational facility4