,,ii  #aaith ,,congress  #ast ,session  
,s4 #ffj  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #bj1      
#bjbe,ms4 ,smith 7for herself1 ,mr4     
,cramer1 ,mr4 ,fetterman1 and ,mrs4     
,britt7 introduced the following bill2  
which was read twice and referred to the
 ,committee on ,banking1 ,housing1 and  
,urban ,affairs  ,a ,,bill  ,to         
establish limitations on advanced       
payments for bus rolling stock1 and for 
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,bus ,rolling  
,stock ,modernization ,act of #bjbe4    
#b4 ,limitations on advanced payments   
for bus rolling stock ,section #ecbc of 
title #di1 ,united ,states ,code1 is    
amended by adding at the end the        
following3  7w7 ,limitations on advanced
 payments for bus rolling stock  7#a7   
,in general ,notwithstanding any        
provision of this chapter or part #bjj  
of title #b1 ,code of ,federal          
,regulations1 or any successor          
regulation1 a recipient may use         

assistance made available under this    
chapter to make an advance payment on a 
bus rolling stock vehicle without the   
recipient obtaining pre-approval or     
requiring a performance bond or other   
form of security from the transit       
vehicle manufacturer4  7#b7 ,limitations
 ,a recipient making an advance payment 
under paragraph 7#a7-- 7,a7 shall have--
 7i7 a signed purchase order and        
executed contract with a transit vehicle
 manufacturer that includes advance     
payment provisions2  7ii7 preaward      
authority2 and  7iii7 met the           
requirements under subsection 7m7 and   
section #ecah7;e7 of this title2 and    
7,b7 shall not provide an advanced      
payment that is more than #bj percent of
 the total purchase order value4  4