1.This Act may be cited as the
TIFIA Expansion Act of
2010
.
2.TIFIA funding of
qualified transit capital projects
(a)Definition of
master credit agreementSection 601(a) of title 23, United States
Code, is amended—
(1)in paragraph (8)—
(A)by striking and
at the end
of subparagraph (C);
(B)by striking the period at the end of
subparagraph (D) and inserting a period; and
(C)by adding at the end the following:
(E)a project or program of related projects
that—
(i)is
for the design, acquisition, construction, or rehabilitation of one or more
transportation projects that reduces emissions of greenhouse gases or has a
positive impact on congestion; and
(ii)receives not more
than 30 percent of its funding for capital costs from Federal grant funds made
available under this title or chapter 53 of title 49, United States
Code.
;
and
(2)by adding at the
end the following:
(15)The term
master credit agreement
means an agreement entered into by and
between the Secretary and an obligor for a project defined in paragraph (9)(E)
that—
(A)makes contingent commitments of one or more
secured loans or other Federal credit instruments at future dates;
(B)establishes the
amounts and general terms and conditions of such secured loans or other Federal
credit instruments;
(C)identifies the
dedicated revenue sources that will secure the repayment of such secured loans
or other Federal credit instruments; and
(D)provides for the
obligation of funds for such secured loans or other Federal credit instruments
after all requirements under section 602(c) have been met for the project,
including compliance with the requirements of the National Environmental Policy
Act of 1969 (42 U.S.C. 432i et
seq.).
.
(b)Eligibility and
eligible projected costsSection 602(a) of title 23, United States
Code, is amended—
(1)in paragraph (1)
by adding before the period at the end the following:
(1), including, in the case of a master credit
agreement, at such time as the disbursement of loan proceeds or the provision
of other credit assistance pursuant to the master credit
agreement
;
and
(2)in paragraph
3—
(A)by striking subparagraph (B)
in subparagraph (A) and inserting subparagraphs (B) and (C)
;
and
(B)by adding at the
end the following:
(C)Mega Transportation
ProjectsIn the case of a
project defined in section 601(a)(8)(E), eligible project costs shall be
reasonably anticipated to equal or exceed
$1,000,000,000.
.
(c)Section 603(b)(2) of
title 23, United States Code, is amended by striking 33 percent
and inserting 49 percent
.
(d)Section 604(b)(2) of
title 23, United States Code, is amended by striking 33 percent
and inserting 49 percent
.
(e)Section 608(a) of title 23, United States
Code, is amended—
(1)in paragraph (1)
by striking $122,000,000 for each of fiscal years 2005 through
2009
and inserting $375,000,000 for each of fiscal years 2011
through 2015
; and
(2)in paragraph (3) by striking
$2,200,000 for each of fiscal years 2005 through 2009
and
inserting $5,000,000 for each of fiscal years 2011 through
2015
.
(f)Section 603(a)(1)
of title 23, United States Code, is amended by inserting after into
agreements
the following: , including master credit
agreements,
.