,i #aag? ,,congress #a/ ,session ,h4 ,r4 #ddac ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #ac1 #bjba,ms4 ,de,lauro 7= h]self1 ,ms4 ,cl>k ( ,massa*usetts1 ,mr4 ,espaillat1 ,mr4 ,tonko1 ,mr4 ,coh51 ,mr4 ,l>son ( ,connecticut1 ,mr4 ,bi%op ( ,georgia1 ,mr4 ,c>son1 ,mr4 ,deut*1 & ,mr4 ,suozzi7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,en]gy & ,comm]ce1 & 9 addition to ! ,committees on ,transportation & ,infra/ructure1 & ,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 facilitate effici5t inve/m5ts & f9anc+ ( infra/ructure projects & new job creation ?r\gh ! e/abli%m5t ( a ,national ,infra/ructure ,developm5t ,bank1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,national ,infra/ructure ,developm5t ,bank ,act ( #bjba4 #b4 ,def9itions ,= purposes ( ?is ,act1 ! foll[+ def9itions apply unless ! context requires o!rwise3 7#a7 ,bank ,! t]m ,bank means ! ,national ,infra/ructure ,developm5t ,bank e/abli%$ "u section #c7;a74 7#b7 ,bo>d ,! t]m ,bo>d means ! ,national ,infra/ructure ,developm5t ,bank ,bo>d4 7#c7 ,*ief asset & liability managem5t (fic] ,! t]m *ief asset & liability managem5t (fic] means ! *ief individual responsible = coord9at+ ! managem5t ( assets & liabilities ( ! ,bank4 7#d7 ,*ief compliance (fic] ,! t]m *ief compliance (fic] or ,,cco means ! *ief individual responsible = ov]see+ & manag+ ! compliance & regulatory affairs issues ( ! ,bank4 7#e7 ,*ief executive (fic] ,! t]m *ief executive (fic] or ,,ceo means ! individual s]v+ z ! executive director ( ! bank4 7#f7 ,*ief f9ancial (fic] ,! t]m *ief f9ancial (fic] or ,,cfo means ! *ief individual responsible = manag+ ! f9ancial risks1 plann+1 & report+ ( ! ,bank4 7#g7 ,*ief loan orig9ation (fic] ,! t]m *ief loan orig9ation (fic] means ! *ief individual responsible = ! process+ ( new loans provid$ by ! ,bank4 7#h7 ,*ief op]ations (fic] ,! t]m *ief op]ations (fic] or ,,coo means ! *ief individual responsible = in=mation te*nology & ! day-to-day op]ations ( ! ,bank4 7#i7 ,*ief risk (fic] ,! t]m *ief risk (fic] or ,,cro means ! *ief individual responsible = manag+ op]ational & compliance-relat$ risks ( ! ,bank4 7#aj7 ,*ief treasury (fic] ,! t]m *ief treasury (fic] means ! *ief individual responsible = manag+ ! ,bank's treasury op]ations4 7#aa7 ,developm5t ,! t]m developm5t means1 ) respect to an infra/ructure project1 any-- 7,a7 precon/ruction plann+1 feasibility review1 p]mitt+1 design "w1 life-cycle ma9t5ance plann+1 & o!r precon/ruction activities2 & 7,b7 con/ruction1 recon/ruction1 rehabilitation1 replacem5t1 or expansion4 7#ab7 ,direct loan2 loan gu>antee ,! t]ms direct loan & loan gu>antee h ! same mean+ z 9 section #ejb ( ! ,f$]al ,cr$it ,re=m ,act ( #aiij 7#b ,u4,s4,c4 #ffa;a74 7#ac7 ,disadvantag$ community ,! t]m disadvantag$ community means a community ) a m$ian h\sehold income ( less ?an #hj p]c5t ( ! /atewide m$ian h\sehold income = ! ,/ate 9 :i* ! community is locat$4 7#ad7 ,en]gy infra/ructure project ,! t]m en]gy infra/ructure project means a project = en]gy transmission & di/ribution1 en]gy effici5cy enhancem5t = build+s1 public h\s+1 heal? facilities1 s*ools1 & en]gy /orage4 7#ae7 ,entity ,! t]m entity means an individual1 corporation1 p>tn]%ip 7includ+ a public-private p>tn]%ip71 jo9t v5ture1 tru/1 & a ,/ate or o!r gov]nm5tal entity1 includ+ a political subdivision or any o!r in/rum5tality ( a ,/ate or a revolv+ fund4 7#af7 ,environm5tal infra/ructure project ,! t]m environm5tal infra/ructure project means a project t-- 7,a7 e/abli%es1 ma9ta9s1 or enhances any dr9k+ wat] & wa/ewat] treatm5t facility1 /orm wat] managem5t sy/em1 flood gate1 dam1 levee1 dr$g+1 op5 space managem5t sy/em1 wetl& re/oration1 infill developm5t1 solid wa/e disposal facility1 haz>d\s wa/e facility1 or indu/rial site cleanup2 or 7,b7 rectifies issues ( manufactur+1 laboratory practices1 & o!r processes t d n comply ) regulations4 7#ag7 ,f9ancial assi/ance ,! t]m f9ancial assi/ance means provid+ cr$it assi/ance 9 ! =m ( direct loans1 loan gu>antees1 & /& by l9es ( cr$it4 7#ah7 ,g5]al c\nsel ,! t]m g5]al c\nsel means ! individual :o s]ves z ! *ief lawy] = ! ,bank4 7#ai7 ,gre5h\se gases ,! t]m gre5h\se gases means any ( ! foll[+3 7,a7 ,c>bon dioxide4 7,b7 ,me?ane4 7,c7 ,nitr\s oxide4 7,d7 ,sulfur hexafluoride4 7,e7 ,hydr(luoroc>bons4 7,f7 ,any p]fluoroc>bon4 7,g7 ,nitrog5 trifluoride4 7,h7 ,any o!r an?ropog5ic gas designat$ by ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy4 7#bj7 ,infra/ructure project ,! t]m infra/ructure project means-- 7,a7 an en]gy infra/ructure project2 7,b7 an environm5tal infra/ructure project2 7,c7 a telecommunications infra/ructure project2 or 7,d7 a transportation infra/ructure project4 7#ba7 ,public-private p>tn]%ip ,! t]m public-private p>tn]%ip means a contractual agreem5t betwe5 a public ag5cy & a private entity t all[s = great] private p>ticipation 9 ! deliv]y ( projects4 7#bb7 ,revolv+ fund ,! t]m revolv+ fund means a fund or program e/abli%$ by a ,/ate or a political subdivision or o!r in/rum5tality ( a ,/ate1 ! pr9cipal activity ( :i* is to make loans1 commitm5ts1 or o!r f9ancial accommodation available = ! developm5t ( "o or m categories ( infra/ructure projects4 7#bc7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,treasury4 7#bd7 ,sm>t grid ,! t]m sm>t grid means a sy/em t provides = any ( ! sm>t grid functions set =? 9 section #acjf7;d7 ( ! ,en]gy ,indep5d5ce & ,security ,act ( #bjjg 7#db ,u4,s4,c4 #agchf7;d774 7#be7 ,/ate ,! t]m ,/ate means ! sev]al ,/ates & ! ,di/rict ( ,columbia1 ,pu]to ,rico1 ,guam1 ,am]ican ,samoa1 ! ,virg9 ,isl&s1 ! ,commonweal? ( ,nor!rn ,m>iana ,isl&s1 & any o!r t]ritory ( ! ,unit$ ,/ates4 7#bf7 ,telecommunications infra/ructure project ,! t]m telecommunications infra/ructure project means a project = infra/ructure t facilitates ! ex*ang+ ( in=mation ?r\gh electronic te*nologies1 includ+ voice1 data1 & video transmissions project4 7#bg7 ,transportation infra/ructure project ,! t]m transportation infra/ructure project means any project = ! con/ruction1 ma9t5ance1 or enhancem5t ( highways1 roads1 bridges1 transit & int]modal sy/ems1 inl& wat]ways1 comm]cial ports1 airports1 high spe$ rail & freight rail sy/ems4 #c4 ,e/abli%m5t ( national infra/ructure developm5t bank 7a7 ,e/abli%m5t ( national infra/ructure developm5t bank ,! ,national ,infra/ructure ,developm5t ,bank is e/abli%$ z a :olly own$ ,gov]nm5t corporation subject to *apt] #ia ( title #ca1 ,unit$ ,/ates ,code 7commonly kn[n z ! 8,gov]nm5t ,corporation ,control ,act071 except z o!rwise provid$ 9 ?is ,act4 7b7 ,responsibility ( ! secret>y ,! ,secret>y ( ! ,treasury %all take su* actions z may be necess>y to assi/ 9 implem5t+ ! e/abli%m5t ( ! bank4 #d4 ,bo>d ( directors 7a7 ,9 g5]al ,! ,bank %all h a ,bo>d ( ,directors consi/+ ( #g memb]s appo9t$ by ! ,presid5t & ) ! advice & cons5t ( ! ,s5ate4 7b7 ,qualifications ,! directors ( ! ,bo>d %all include individuals repres5t+ diff]5t regions ( ! ,unit$ ,/ates &-- 7#a7 #b ( ! directors %all h public sector exp]i5ce2 7#b7 #b ( ! directors %all h private sector exp]i5ce2 & 7#c7 #c ( ! directors %all h f9ance exp]i5ce4 7c7 ,*airp]son & vice *airp]son ,z designat$ at ! "t ( appo9tm5t1 "o ( ! directors ( ! ,bo>d %all be designat$ *airp]son ( ! ,bo>d by ! ,presid5t & "o %all be designat$ z vice *airp]son ( ! ,bo>d by ! ,presid5t4 7d7 ,t]ms 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b7 & subsection 7f71 ea* director %all be appo9t$ = a t]m ( #f ye>s4 7#b7 ,initial /agg]$ t]ms ,( ! initial memb]s ( ! ,bo>d-- 7,a7 ! *airp]son & vice *airp]son %all ea* be appo9t$ = t]ms ( #f ye>s2 7,b7 #c %all be appo9t$ = a t]m ( #d ye>s2 & 7,c7 #b %all be appo9t$ = a t]m ( #b ye>s4 7e7 ,initial appo9tm5ts ,n lat] ?an #cj days aft] ! date ( enactm5t ( ?is ,act1 ! majority lead] ( ! ,s5ate1 ! m9ority lead] ( ! ,s5ate1 ! ,speak] ( ! ,h\se ( ,repres5tatives1 & ! m9ority lead] ( ! ,h\se ( ,repres5tatives %all ea* submit a recomm5dation to ! ,presid5t = appo9tm5t ( a memb] ( ! ,bo>d ( ,directors1 aft] consultation ) ! appropriate committees ( ,congress4 7f7 ,date ( initial nom9ations ,! initial nom9ations by ! ,presid5t = appo9tm5t ( directors to ! ,bo>d %all be made n lat] ?an #fj days aft] ! date ( enactm5t ( ?is ,act1 ) ! advice & cons5t ( ! ,s5ate4 7g7 ,vacancies 7#a7 ,9 g5]al ,a vacancy on ! ,bo>d %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7#b7 ,appo9tm5t to replace dur+ t]m ,any director appo9t$ to fill a vacancy occurr+ be=e ! expiration ( ! t]m = :i* ! director's pr$ecessor 0 appo9t$ %all be appo9t$ only = ! rema9d] ( ! t]m4 7#c7 ,duration ,a director may s]ve aft] ! expiration ( t director's t]m until a successor has tak5 (fice4 7h7 ,quorum ,f\r directors %all con/itute a quorum4 7i7 ,reappo9tm5t ,a director ( ! ,bo>d appo9t$ by ! ,presid5t may be reappo9t$ by ! ,presid5t1 ) ! advice & cons5t ( ! ,s5ate4 7j7 ,p] diem reimbursem5t ,directors ( ! ,bo>d %all s]ve on a "p-"t basis & %all receive a p] diem :5 engag$ 9 ! actual p]=mance ( ,bank bus9ess1 plus reasonable reimbursem5t = travel1 subsi/5ce1 & o!r necess>y exp5ses incurr$ 9 ! p]=mance ( _! duties4 7k7 ,limitations ,a director ( ! ,bo>d may n p>ticipate 9 any review or decision affect+ a project "u consid]ation = assi/ance "u ?is ,act if ! director has or is affiliat$ ) a p]son :o has an int]e/ 9 su* project1 z det]m9$ by ! o!r memb]s ( ,bo>d4 7l7 ,responsibilities ,! ,bo>d %all-- 7#a7 z soon z is practicable aft] ! date on :i* ! la/ director is appo9t$1 e/abli% an ,executive ,committee1 ,risk ,managem5t ,committee & ,audit ,committee z prescrib$ by ?is ,act2 7#b7 n lat] ?an #ahj days aft] ! date on :i* ! la/ director is appo9t$ develop & approve ! bylaws ( ! ,bank1 includ+ bylaws = ! regulation ( ! affairs & conduct ( ! bus9ess ( ! ,bank1 consi/5t ) ! purpose1 goals1 objectives1 & policies set =? 9 ?is ,act2 7#c7 ensure t ! ,bank is at all times op]at$ 9 a mann] t is consi/5t ) ?is ,act1 by-- 7,a7 monitor+ & assess+ ! effectiv5ess ( ! ,bank 9 a*iev+ its /rategic goals2 7,b7 p]iodically review+ int]nal policies submitt$ by ! *ief executive (fic]2 7,c7 review+ & approv+ annual bus9ess plans1 annual budgets1 & long-t]m /rategies submitt$ by ! *ief executive (fic]2 7,d7 review+ & approv+ annual reports submitt$ by ! *ief executive (fic]2 7,e7 review+ risk managem5t & audit practices ( ! ,bank2 & 7,f7 review+ & approv+ all *anges to ! organization ( ! ,bank2 & 7#d7 e/abli% su* o!r crit]ia1 requirem5ts1 or proc$ures z ! ,bo>d may consid] to be appropriate 9 c>ry+ out ?is ,act4 7m7 ,meet+s 7#a7 ,op5 to ! public2 notice ,all meet+s ( ! ,bo>d held to conduct ! bus9ess ( ! ,bank %all be op5 to ! public & %all be prec$$ by reasonable notice4 7#b7 ,initial meet+ ,! ,bo>d %all meet n lat] ?an #ij days aft] ! date on :i* ! la/ director is appo9t$ & o!rwise at ! call ( ! ,*airp]son4 7#c7 ,exception = clos$ meet+s ,pursuant to su* rules z ! ,bo>d may e/abli% ?r\gh _! bylaws1 ! directors may close a meet+ ( ! ,bo>d if1 at ! meet+1 !re is likely to be disclos$ in=mation :i* c\ld adv]sely affect or lead to speculation relat+ to an infra/ructure project "u consid]ation = assi/ance "u ?is ,act or 9 f9ancial or securities or commodities m>kets or in/itutions1 utilities1 or real e/ate4 ,! det]m9ation to close any meet+ ( ! ,bo>d %all be made 9 a meet+ ( ! ,bo>d1 op5 to ! public1 & prec$$ by reasonable notice4 ,! ,bo>d %all prep>e m9utes ( any meet+ :i* is clos$ to ! public & make su* m9utes available z soon z ! consid]ations necessitat+ clos+ su* meet+ no long] apply4 #e4 ,p[]s & limitations ( ! ,bo>d 7a7 ,p[]s ,9 ord] to c>ry out ! purposes ( ! ,bank z set =? 9 ?is ,act1 ! ,bo>d %all be responsible = monitor+ & ov]see+ infra/ructure projects & h ! foll[+ p[]s3 7#a7 ,to review infra/ructure projects recomm5d$ by ! (fic]s ( ! ,bank & select infra/ructure projects us+ a co/-b5efit analysis4 7#b7 ,to make s5ior & subord9at$ direct loans on su* t]ms z ! ,bo>d may det]m9e1 9 ! ,bo>d's discretion1 to be appropriate to assi/ 9 ! f9anc+ or ref9anc+ ( an infra/ructure project4 7#c7 ,to make loan gu>antees on su* t]ms z ! ,bo>d may det]m9e1 9 ! ,bo>d's discretion1 to be appropriate to assi/ 9 ! f9anc+ or ref9anc+ ( an infra/ructure project4 7#d7 ,to make agreem5ts & contracts ) any entity 9 fur!rance ( ! bus9ess ( ! ,bank4 7#e7 ,to monitor & ov]see infra/ructure projects f9anc$1 9 :ole or 9 "p1 by ! ,bank4 7#f7 ,to sue & be su$ 9 ! ,bank's capacity 9 any c\rt ( compet5t jurisdiction1 except t no atta*m5t1 injunction1 or simil> process1 may be issu$ aga9/ ! prop]ty ( ! ,bank or aga9/ ! ,bank ) respect to su* prop]ty4 7#g7 ,to indemnify ! directors & (fic]s ( ! ,bank = liabilities aris+ out ( ! actions ( ! directors & (fic]s 9 su* capacity1 9 accordance )1 & subject to ! limitations conta9$ 91 ?is ,act4 7#h7 ,to s]ve z ! prim>y liaison betwe5 ! ,bank & ! ,congress1 ! executive bran*1 & ,/ate & local gov]nm5ts1 & to repres5t ! ,bank's int]e/s4 7#i7 ,to ex]cise all o!r lawful p[]s :i* are necess>y or appropriate to c>ry out1 & are consi/5t )1 ! purposes ( ! ,bank4 7b7 ,protections ,prior to provid+ any f9ancial assi/ance = an infra/ructure project involv+ recon/ruction1 rehabilitation1 replacem5t or expansion t may impact curr5t work]s & me*anics on ! project site1 ! int]e/s ( work]s & me*anics affect$ by ! f9ancial assi/ance %all be protect$1 includ+ ! foll[+ int]e/s3 7#a7 ,! pres]vation ( rights1 privileges1 & b5efits1 includ+ cont9uation ( p5sion rights & b5efits1 "u exi/+ collective b>ga9+ agreem5ts or o!rwise4 7#b7 ,! cont9uation ( collective b>ga9+ rights4 7#c7 ,! ret5tion ( paid tra9+ or retra9+ programs4 7#d7 ,! protection ( work]s & me*anics aga9/ a wors5+ ( _! positions ) respect to employm5t4 7#e7 ,protection f displacem5t if an ongo+ project receives p>tial or full fund+ f ! ,bank1 except+ any preexi/+ contractual agreem5ts ab\t p]=mance relat$ displacem5t4 7c7 ,coord9ation ) ,/ate & local regulatory au?ority ,! provision ( f9ancial assi/ance by ! ,bo>d pursuant to ?is ,act %all n be con/ru$ z o!rwise sup]s$+ any ,/ate law or regulation applicable to a project4 7d7 ,f$]al p]sonnel reque/s ,! ,bo>d %all h ! p[] to reque/ ! detail1 on a reimbursable basis1 ( p]sonnel f o!r ,f$]al ag5cies ) specific exp]tise n available f )9 ! ,bank or else:]e4 ,! head ( any ,f$]al ag5cy may detail1 on a reimbursable basis1 any p]sonnel ( su* ag5cy reque/$ by ! ,bo>d & %all n )hold unreasonably ! detail ( any p]sonnel reque/$ by ! ,bo>d4 #f4 ,executive ,committee 7a7 ,9 g5]al ,! ,bo>d %all e/abli% an ,executive ,committee consi/+ ( #i memb]s1 head$ by ! *ief executive (fic] ( ! ,bank4 7b7 ,,ceo ,a majority ( ! ,bo>d %all h ! au?ority to appo9t & reappo9t ! *ief executive (fic] ) su* executive functions1 p[]s1 & duties z may be prescrib$ by ?is ,act1 ! bylaws ( ! ,bank1 or ! ,bo>d4 7c7 ,,ceo responsibilities ,! ,,ceo %all h responsibility = ! developm5t & implem5tation ( ! /rategy ( ,bank1 includ+-- 7#a7 ! developm5t & submission to ! ,bo>d ( ! annual bus9ess plans & budget2 7#b7 ! developm5t & submission to ! ,bo>d ( a long-t]m /rategic plan2 & 7#c7 ! developm5t1 revision1 & submission to ! ,bo>d ( ,directors ( int]nal policies4 7d7 ,o!r executive (fic]s ,! ,bo>d %all appo9t1 remove1 fix ! comp5sation1 & def9e duties ( #h o!r executive (fic]s to s]ve on ! ,executive ,committee z !-- 7#a7 *ief compliance (fic]2 7#b7 *ief f9ancial (fic]2 7#c7 *ief asset & liability managem5t (fic]2 7#d7 *ief loan orig9ation (fic]2 7#e7 *ief op]ations (fic]2 7#f7 *ief risk (fic]2 7#g7 *ief treasury (fic]2 & 7#h7 g5]al c\nsel4 7e7 ,qualifications ,! ,,ceo %all h exp]i5ce & exp]tise 9 f9ance & ! o!r executive (fic]s %all h demon/rat$ exp]i5ce & exp]tise 9 "o or m ( ! foll[+3 7#a7 ,transportation infra/ructure4 7#b7 ,environm5tal infra/ructure4 7#c7 ,en]gy infra/ructure4 7#d7 ,telecommunications infra/ructure4 7#e7 ,economic developm5t4 7#f7 ,work=ce developm5t4 7#g7 ,public heal?4 7#h7 ,private or public f9ance4 7f7 ,duties ,9 ord] to c>ry out ! purposes ( ! ,bank z set =? 9 ?is ,act1 ! ,executive ,committee %all-- 7#a7 e/abli% & submit to ! ,bo>d disclosure & application proc$ures = entities nom9at+ projects = assi/ance "u ?is ,act2 7#b7 e/abli% & submit to ! ,bo>d /&>diz$ t]ms & conditions1 fee s*$ules1 or legal requirem5ts ( a contract or program to c>ry out ?is ,act2 7#c7 e/abli% & submit to ! ,bo>d guidel9es = ! selection & approval ( projects & specific crit]ia = det]m9+ eligibility = project selection2 7#d7 accept1 = consid]ation1 project proposals relat+ to ! developm5t ( infra/ructure projects1 :i* meet ! basic crit]ia e/abli%$ by ! ,executive ,committee1 & :i* are submitt$ by an entity2 7#e7 provide recomm5dations to ! ,bo>d & place project proposals accept$ by ! ,executive ,committee on a li/ = consid]ation = f9ancial assi/ance f ! ,bo>d2 & 7#f7 provide te*nical assi/ance1 includ+ public-private p>tn]%ip infra/ructure project value = money assessm5ts1 long-t]m economic b5efit projections1 & contract evaluations1 to entities receiv+ f9anc+ f ! ,bank & o!rwise implem5t decisions ( ! ,bo>d4 7g7 ,vacancy ,a vacancy 9 ! position ( ,,ceo & o!r executive (fic]s ( ! ,executive ,committee %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7h7 ,comp5sation ,! comp5sation ( ! ,,ceo & o!r executive (fic]s ( ! ,executive ,committee %all be det]m9$ by ! ,bo>d4 7i7 ,removal ,! ,,ceo & o!r executive (fic]s ( ! ,executive ,committee may be remov$ at ! discretion ( a majority ( ! ,bo>d4 7j7 ,t]m ,! ,,ceo & o!r executive (fic]s ( ! ,executive ,committee %all s]ve a #f-ye> t]m & may be reappo9t$ 9 accordance ) ?is section4 7k7 ,limitations ,! ,,ceo & o!r executive (fic]s ( ! ,executive ,committee %all n-- 7#a7 hold any o!r public (fice2 7#b7 h any int]e/ 9 an infra/ructure project consid]$ by ! ,bo>d2 7#c7 h any int]e/ 9 an inve/m5t in/itution1 comm]cial bank1 or o!r entity seek+ f9ancial assi/ance = any infra/ructure project f or inve/+ 9 ! ,bank2 & 7#d7 h any su* int]e/ dur+ ! #b-ye> p]iod beg9n+ on ! date su* (fic] ceases to s]ve 9 su* capacity4 #g4 ,risk managem5t committee 7a7 ,e/abli%m5t ( risk managem5t committee ,! ,bo>d %all e/abli% a risk managem5t committee consi/+ ( #e memb]s1 head$ by ! *ief risk (fic]4 7b7 ,appo9tm5ts ,a majority ( ! ,bo>d %all h ! au?ority to appo9t & reappo9t ! ,,cro ( ! ,bank4 7c7 ,functions2 duties 7#a7 ,9 g5]al ,! ,,cro %all h su* functions1 p[]s1 & duties z may be prescrib$ by "o or m ( ! foll[+3 ,?is ,act1 ! bylaws ( ! ,bank1 & ! ,bo>d4 ,! ,,cro %all report directly to ! ,bo>d4 7#b7 ,risk managem5t duties ,9 ord] to c>ry out ! purposes ( ?is ,act1 ! risk managem5t committee %all-- 7,a7 create f9ancial1 cr$it1 & op]ational risk managem5t guidel9es & policies to be adh]$ to by ! ,bank2 7,b7 set guidel9es to ensure div]sification ( l5d+ activities by bo? geographic region & infra/ructure project type2 7,c7 create con=m+ /&>ds = all f9ancial assi/ance provid$ by ! ,bank2 7,d7 monitor f9ancial1 cr$it & op]ational exposure ( ! ,bank2 & 7,e7 provide f9ancial recomm5dations to ! ,bo>d4 7d7 ,o!r risk managem5t (fic]s ,! ,bo>d %all appo9t1 remove1 fix ! comp5sation1 & def9e ! duties ( #d o!r risk managem5t (fic]s to s]ve on ! risk managem5t committee4 7e7 ,qualifications ,! ,,cro & o!r risk managem5t (fic]s %all h demon/rat$ exp]i5ce & exp]tise 9 "o or m ( ! foll[+3 7#a7 ,treasury & asset & liability managem5t4 7#b7 ,inve/m5t regulations4 7#c7 ,insurance4 7#d7 ,cr$it risk managem5t & cr$it evaluations4 7#e7 ,relat$ discipl9es4 7f7 ,vacancy ,a vacancy 9 ! position ( ,,cro & o!r risk managem5t (fic]s ( ! risk managem5t committee %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7g7 ,comp5sation ,! comp5sation ( ! ,,cro & o!r risk managem5t (fic]s ( ! risk managem5t committee %all be det]m9$ by ! ,bo>d4 7h7 ,removal ,! ,,cro & o!r risk managem5t (fic]s ( ! risk managem5t committee may be remov$ at ! discretion ( a majority ( ! ,bo>d4 7i7 ,t]m ,! ,,cro & o!r risk managem5t (fic]s ( ! risk managem5t committee %all s]ve a #f-ye> t]m & may be reappo9t$ 9 accordance ) ?is section4 7j7 ,limitations ,! ,,cro & o!r risk managem5t (fic]s ( ! risk managem5t committee %all n-- 7#a7 hold any o!r public (fice2 7#b7 h any int]e/ 9 an infra/ructure project consid]$ by ! ,bo>d2 7#c7 h any int]e/ 9 an inve/m5t in/itution1 comm]cial bank1 or o!r entity seek+ f9ancial assi/ance = any infra/ructure project f or inve/+ 9 ! ,bank2 & 7#d7 h any su* int]e/ dur+ ! #b-ye> p]iod beg9n+ on ! date su* (fic] ceases to s]ve 9 su* capacity4 #h4 ,audit ,committee2 compliance (fice 7a7 ,9 g5]al ,! ,bank %all e/abli%-- 7#a7 a compliance (fice to c>ry out ov]sight ( ! ,bank's compliance ) sections #aj & #aa2 & 7#b7 an audit committee consi/+ ( #e memb]s1 head$ by ! *ief compliance (fic] ( ! ,bank4 7b7 ,appo9tm5ts ,a majority ( ! ,bo>d %all h ! au?ority to appo9t & reappo9t ! ,,cco ( ! ,bank4 7c7 ,functions2 duties ,! ,,cco %all h su* functions1 p[]s1 & duties z may be prescrib$ by "o or m ( ! foll[+3 ,?is ,act1 ! bylaws ( ! ,bank1 & ! ,bo>d4 ,! ,,cco %all report directly to ! ,bo>d4 7d7 ,audit duties ,9 ord] to c>ry out ! purposes ( ! ,bank "u ?is ,act1 ! audit committee %all-- 7#a7 provide int]nal controls & int]nal audit+ activities = ! ,bank2 7#b7 ma9ta9 responsibility = ! acc\nt+ activities ( ! ,bank2 7#c7 issue f9ancial reports ( ! ,bank2 & 7#d7 complete reports ) outside auditors & public acc\ntants appo9t$ by ! ,bo>d4 7e7 ,o!r audit (fic]s ,! ,bo>d %all appo9t1 remove1 fix ! comp5sation1 & def9e ! duties ( #d o!r audit (fic]s to s]ve on ! audit committee4 7f7 ,qualifications ,! ,,cco & o!r audit (fic]s %all h demon/rat$ exp]i5ce & exp]tise 9 "o or m ( ! foll[+3 7#a7 ,int]nal audit+4 7#b7 ,int]nal inve/igations4 7#c7 ,acc\nt+ practices4 7#d7 ,f9anc+ practices4 7g7 ,vacancy ,a vacancy 9 ! position ( ,,cco & o!r audit (fic]s ( ! audit committee %all be fill$ 9 ! mann] 9 :i* ! orig9al appo9tm5t 0 made4 7h7 ,comp5sation ,! comp5sation ( ! ,,cco & o!r audit (fic]s ( ! audit committee %all be det]m9$ by ! ,bo>d4 7i7 ,removal ,! ,,cco & o!r audit (fic]s ( ! audit committee may be remov$ at ! discretion ( a majority ( ! ,bo>d4 7j7 ,t]m ,! ,,cco & o!r audit (fic]s ( ! audit committee %all s]ve a #f-ye> t]m & may be reappo9t$ 9 accordance ) ?is section4 7k7 ,limitations ,! ,,cco & o!r audit (fic]s ( ! audit committee %all n-- 7#a7 hold any o!r public (fice2 7#b7 h any int]e/ 9 an infra/ructure project consid]$ by ! ,bo>d2 7#c7 h any int]e/ 9 an inve/m5t in/itution1 comm]cial bank1 or o!r entity seek+ f9ancial assi/ance = any infra/ructure project f or inve/+ 9 ! ,bank2 & 7#d7 h any su* int]e/ dur+ ! #b-ye> p]iod beg9n+ on ! date su* (fic] ceases to s]ve 9 su* capacity4 #i4 ,p]sonnel ,! *airp]son ( ! ,bo>d1 *ief executive (fic]1 *ief risk (fic]1 & *ief compliance (fic] %all appo9t1 remove1 fix ! comp5sation (1 & def9e ! duties ( su* qualifi$ p]sonnel to s]ve "u ! ,bo>d1 ,executive ,committee1 risk managem5t committee1 or audit committee1 z ! case may be1 z necess>y & prescrib$ by "o or m ( ! foll[+3 ,?is ,act1 ! bylaws ( ! ,bank1 & ! ,bo>d4 #aj4 ,eligibility crit]ia = assi/ance f ,bank 7a7 ,9 g5]al ,to be eligible = f9ancial assi/ance f ! ,bank1 an infra/ructure project-- 7#a7 %all h a public b5efit1 z det]m9$ by ! ,bo>d2 & 7#b7 may n h a sole use or purpose t is private4 7b7 ,e/abli%m5t ( project crit]ia 7#a7 ,9 g5]al ,consi/5t ) ! requirem5ts ( subsections 7c7 & 7d71 ! ,bo>d %all approve-- 7,a7 crit]ia = det]m9+ eligibility = f9ancial assi/ance e/abli%$ by ! ,executive ,committee "u ?is ,act2 7,b7 revisions to crit]ia = det]m9+ eligibility = f9ancial assi/ance e/abli%$ by ! ,executive ,committee ( ! bank2 7,c7 ! weight giv5 to factors to be tak5 into acc\nt e/abli%$ by ! ,executive ,committee2 7,d7 disclosure & application proc$ures to be foll[$ by entities to nom9ate projects = assi/ance e/abli%$ by ! ,executive ,committee ( ! bank2 & 7,e7 su* o!r crit]ia z ! ,bo>d may consid] to be appropriate4 7#b7 ,factors to be tak5 into acc\nt 7,a7 ,9 g5]al ,! ,executive ,committee ( ! bank %all conduct an analysis t takes into acc\nt ! economic1 environm5tal1 & social b5efits1 & co/s ( ea* project "u consid]ation = f9ancial assi/ance "u ?is ,act1 prioritiz+ projects t contribute to economic gr[?1 lead to job creation1 & are ( regional or national significance4 7,b7 ,crit]ia ,! crit]ia e/abli%$ pursuant to p>agraph 7#a77;,a7 %all provide = ! consid]ation ( ! foll[+ factors 9 consid]+ eligibility = f9ancial assi/ance "u ?is ,act3 7i7 ,! means by :i* developm5t ( ! infra/ructure project "u consid]ation is be+ f9anc$1 includ+-- 7,i7 ! t]ms & conditions & f9ancial /ructure ( ! propos$ f9anc+2 7,,ii7 ! cr$it wor?9ess & /&+ ( ! project sponsors1 provid]s ( equity1 & c(9anci]s2 7,,iii7 ! f9ancial assumptions & projections on :i* ! project is bas$2 & 7,,iv7 ! ext5t to :i* ! infra/ructure project maximizes inve/m5t f o!r s\rces4 7ii7 ,! likelihood t ! provision ( assi/ance by ! ,bank w cause su* developm5t to proce$ m promptly & ) l[] co/s = f9anc+ ?an w\ld be ! case )\t su* assi/ance4 7iii7 ,! ext5t to :i* ! provision ( assi/ance by ! ,bank maximizes ! level ( private inve/m5t 9 ! infra/ructure project :ile provid+ a public b5efit4 7,c7 ,d$icat$ rev5ue s\rces ,any f9ancial assi/ance = an infra/ructure project %all be repayable1 9 :ole or 9 "p1 f d$icat$ rev5ue s\rces t also secure ! infra/ructure project obligations4 7,d7 ,am\nt ( f9ancial assi/ance ,! am\nt ( f9ancial assi/ance "u ?is ,act %all be det]m9$ by ! ,bo>d4 7c7 ,public input ,9 develop+ propos$ infra/ructure project crit]ia & conduct+ reviews ( infra/ructure project crit]ia = ! ,bo>d1 ! ,executive ,committee %all seek input f ! public includ+ views relat$ to-- 7#a7 ! weight giv5 to diff]5t factors to be tak5 into acc\nt2 7#b7 measur+ :e!r projects are meet+ approv$ crit]ia2 & 7#c7 any o!r input consid]$ by ! ,executive ,committee & ! public = ! purposes ( c>ry+ out ?is ,act4 7d7 ,factors = specific types ( projects 7#a7 ,transportation infra/ructure projects ,= any transportation infra/ructure project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,job creation1 includ+ work=ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & t>get$ job tra9+ & employm5t opportunities = l[ income work]s4 7,b7 ,r$uction 9 gre5h\se gases4 7,c7 ,r$uction 9 surface & air traffic conge/ion4 7,d7 ,use ( sm>t toll+1 su* z vehicle miles travel$ & conge/ion pric+1 = highway1 road1 & bridge projects4 7,e7 ,increas$ access to transportation options4 7,f7 ,increas$ safety ( transportation sy/ems = motoriz$ & non-motoriz$ us]s4 7,g7 ,public heal? b5efits1 includ+ ! removal ( lead coat+s or o!r haz>d\s *emicals & mat]ials4 7,h7 ,r$uction 9 risk ( /ructural failure ov] ! s]vice life ( ! project4 7#b7 ,environm5tal infra/ructure project ,= any environm5tal infra/ructure project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,job creation1 includ+ work=ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & t>get$ job tra9+ & employm5t opportunities = l[ income work]s4 7,b7 ,public heal? b5efits1 includ+ ! removal ( lead coat+s or o!r haz>d\s mat]ials4 7,c7 ,pollution r$uctions4 7,d7 ,r$uctions 9 gre5h\se gas4 7,e7 ,increas$ coa/al & inl& flood mitigation & protection4 7,f7 ,r$uction 9 risk ( /ructural failure ov] ! s]vice life ( ! project4 7#c7 ,en]gy infra/ructure project ,= any en]gy infra/ructure project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,job creation1 includ+ work=ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & t>get$ job tra9+ & employm5t opportunities = l[ income work]s4 7,b7 ,r$uction 9 gre5h\se gas4 7,c7 ,exp&$ use ( r5ewable en]gy4 7,d7 ,developm5t ( a sm>t grid4 7,e7 ,en]gy effici5t build+1 h\s+1 & s*ool mod]nization1 includ+ r5ewable en]gy designat$ retr(its4 7,f7 ,9 any case 9 :i* ! project is also a public h\s+ project-- 7i7 improvem5t ( ! physical %ape & lay\t2 7ii7 environm5tal improvem5t2 & 7iii7 mobility improvem5ts = resid5ts4 7,g7 ,public heal? b5efits includ+ ! removal ( lead coat+s or o!r haz>d\s *emicals & mat]ials4 7,h7 ,r$uction 9 risk ( /ructural failure ov] ! s]vice life ( ! project4 7#d7 ,telecommunications ,= any telecommunications project1 ! ,bo>d %all consid] ! foll[+3 7,a7 ,job creation1 includ+ work=ce developm5t = wom5 & m9orities1 responsible employm5t practices1 & t>get$ job tra9+ & employm5t opportunities = l[ income work]s4 7,b7 ,! ext5t to :i* assi/ance exp&s or improves broadb& & wireless s]vices 9 rural & disadvantag$ communities4 7e7 ,consid]ation ( project proposals 7#a7 ,p>ticipation by o!r ag5cy p]sonnel ,consid]ation ( a project "u ?is section by ! ,executive ,committee & ! ,bo>d %all be conduct$ ) p]sonnel on detail to ! ,bank f relevant ,f$]al ag5cies among individuals :o are famili> ) & exp]i5c$ 9 ! selection crit]ia = competitive infra/ructure projects4 7#b7 ,fees ,! ,bank may *>ge a fee = ! review ( any project proposal 9 su* am\nt z may be consid]$ appropriate by ! ,executive ,committee approv$ by ! ,bo>d to cov] ! co/ ( su* review4 7f7 ,discretion ( bo>d ,consi/5t ) o!r provisions ( ?is ,act1 any det]m9ation ( ! ,bo>d to provide assi/ance to any infra/ructure project1 & ! mann] 9 :i* su* assi/ance is provid$1 includ+ ! t]ms1 conditions1 fees1 & *>ges %all be at ! sole discretion ( ! ,bo>d4 7g7 ,/ate & local p]mits requir$ ,! provision ( assi/ance by ! ,bo>d 9 accordance ) ?is ,act %all n be deem$ to relieve any recipi5t ( assi/ance or ! relat$ infra/ructure project ( any obligation to obta9 requir$ ,/ate & local p]mits & approvals4 7h7 ,annual report ,an entity receiv+ assi/ance f ! ,bo>d %all make annual reports to ! ,bo>d on ! use ( any su* assi/ance1 compliance ) ! crit]ia set =? 9 ?is section1 & a disclosure ( all entities ) a developm5t1 own]%ip1 or op]ational int]e/ 9 a infra/ructure project assi/$ or propos$ to be assi/$ "u ?is ,act4 #aa4 ,/atus & applicability ( c]ta9 ,f$]al laws 7a7 ,compliance ) ,davis-,bacon ,act ,all labor]s & me*anics employ$ by contractors & subcontractors on infra/ructure projects fund$ directly by or assi/$ 9 :ole or 9 "p by & ?r\gh ! ,bank pursuant to ?is ,act %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 7b7 ,no priority z a ,f$]al claim ,! priority e/abli%$ 9 favor ( ! ,unit$ ,/ates by section #cgac ( title #ca1 ,unit$ ,/ates ,code1 %all n apply ) respect to any indebt$ness ( ! ,bank4 7c7 ,compliance ) grant requirem5ts ,recipi5ts ( f9ancial assi/ance au?oriz$ "u ?is ,act t funds public transportation capital projects1 z def9$ 9 section #ecjb ( title #di1 ,unit$ ,/ates ,code1 mu/ comply ) ! grant requirem5ts applicable to grants made "u section #ecji ( su* title4 #ab4 ,dome/ic cont5t /atutes 7a7 ,9 g5]al ,! f9anc+ provid$ = an infra/ructure project %all be 9 accordance ) ! foll[+ /atutory provisions ( ! ,unit$ ,/ates ,code "u ! jurisdiction ( ! ,dep>tm5t ( ,transportation1 z applicable to ! project3 7#a7 ,section #bdcje ( title #di1 ,unit$ ,/ates ,code4 7#b7 ,section #cac ( title #bc1 ,unit$ ,/ates ,code4 7#c7 ,section #ecbc7;j7 ( title #di1 ,unit$ ,/ates ,code4 7#d7 ,section #bddje ( title #di1 ,unit$ ,/ates ,code4 7#e7 ,sections #ejaja & #ejaje ( title #di1 ,unit$ ,/ates ,code4 7b7 ,use ( iron1 /eel1 & manufactur$ goods 9 infra/ructure projects ,= any infra/ructure project f9anc$ "u ?is ,act t is n cov]$ "u subsection 7a71 ! foll[+ requirem5ts %all apply3 7#a7 ,buy ,am]ica ,no am\nt loan$ or gu>ante$ by ! ,bank may be us$ = a public 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 ,p>agraph 7#a7 %all n apply 9 any case or category ( cases 9 :i* ! ,secret>y ( ! ,treasury f9ds t-- 7,a7 apply+ p>agraph 7#a7 w\ld be inconsi/5t ) ! public int]e/2 7,b7 iron1 /eel1 & ! relevant manufactur$ goods are n produc$ 9 ! ,unit$ ,/ates 9 suffici5t & reasonably available quantities & ( a satisfactory quality2 or 7,c7 inclusion ( iron1 /eel1 & manufactur$ goods produc$ 9 ! ,unit$ ,/ates w increase ! co/ ( ! ov]all 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 ( p>agraph 7#a7 bas$ on a f9d+ "u p>agraph 7#b71 ! ,treasury ,secret>y %all publi% 9 ! ,f$]al ,regi/] a detail$ writt5 ju/ification z to :y ! provision is be+ waiv$4 7#d7 ,application ( section ,?is section %all be appli$ 9 a mann] consi/5t ) ! ,unit$ ,/ates obligations "u int]national agreem5ts4 7#e7 ,consultations ,! ,bo>d may consult ) ! ,secret>y ( ,transportation & o!r ,f$]al ,secret>ies & ,adm9i/rators :5 apply+ ?is section4 #ac4 ,audits2 reports to ,presid5t & ,congress 7a7 ,acc\nt+ ,! books ( acc\nt ( ! ,bank %all be ma9ta9$ 9 accordance ) g5]ally accept$ acc\nt+ pr9ciples & %all be subject to an annual audit by indep5d5t public acc\ntants appo9t$ by ! ,bo>d & ( nationally recogniz$ /&+4 7b7 ,reports 7#a7 ,bo>d ,! ,bo>d %all submit to ! ,presid5t & ,congress1 )9 #ij days aft] ! la/ day ( ea* fiscal ye>1 a complete & detail$ report ) respect to ! prec$+ fiscal ye>1 sett+ =?-- 7,a7 a summ>y ( ! ,bank's op]ations1 = su* prec$+ fiscal ye>2 7,b7 a s*$ule ( ! ,bank's obligations out/&+ at ! end ( su* prec$+ fiscal ye>1 ) a /atem5t ( ! am\nts issu$ & r$eem$ or paid dur+ su* prec$+ fiscal ye>2 & 7,c7 ! /atus ( infra/ructure projects receiv+ fund+ or o!r assi/ance pursuant to ?is ,act1 includ+ disclosure ( all entities ) a developm5t1 own]%ip1 or op]ational int]e/ 9 su* projects4 7#b7 ,,gao ,n lat] ?an #e ye>s aft] ! date ( enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ,congress a report evaluat+ activities ( ! ,bank = ! fiscal ye>s cov]$ by ! report t includes-- 7,a7 an assessm5t ( ! impact & b5efits ( ea* fund$ infra/ructure project1 includ+ a review ( h[ effectively ea* project accompli%$ ! goals prioritiz$ by ! ,bank's project crit]ia2 & 7,b7 an assessm5t ( ! ,bank's fund+ me*anisms 9 comp>ison ) o!r available fund+ me*anisms1 ) a focus on ensur+ self-su/a9ability ( ! ,bank4 7c7 ,books & records 7#a7 ,9 g5]al ,! ,bank %all ma9ta9 adequate books & records to support ! f9ancial transactions ( ! ,bank ) a description ( f9ancial transactions & infra/ructure projects receiv+ fund+1 & ! am\nt ( fund+ = ea* project ma9ta9$ on a publicly accessible database4 7#b7 ,public comm5t p]iod ,! ,bank %all po/ infra/ructure f9anc+ agreem5ts on ! database provid+ #cj days = public comm5ts be=e provid+ f9al f9anc+ = ! infra/ructure project4 7#c7 ,audits by ! ,secret>y & ,,gao ,! books & records ( ! ,bank %all be ma9ta9$ 9 accordance ) recomm5d$ acc\nt+ practices & %all be op5 to inspection by ! ,secret>y & ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates4 #ad4 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ #e1jjj1jjj1jjj = ea* ( fiscal ye>s #bjbb ?r\gh #bjbf to capitalize ! ,bank & to rema9 available until exp5d$4