[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1123 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 1123

To amend title 23, United States Code, to revise certain infrastructure 
                          finance provisions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 16, 2011

Ms. Richardson introduced the following bill; which was referred to the 
             Committee on Transportation and Infrastructure

_______________________________________________________________________

                                 A BILL


 
To amend title 23, United States Code, to revise certain infrastructure 
                          finance provisions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``TIFIA Expansion Act of 2011''.

SEC. 2. TIFIA FUNDING OF QUALIFIED TRANSIT CAPITAL PROJECTS.

    (a) Definition of Master Credit Agreement.--Section 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 ``and;''; 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) Master credit agreement.--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 Costs.--Section 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 projects.--In 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) Secured Loans.--Section 603(b)--
            (1) in paragraph (2) of title 23, United States Code, is 
        amended by striking ``33 percent'' and inserting ``49 
        percent'';
            (2) in paragraph (4)--
                    (A) by striking ``The interest rate'' and inserting 
                the following:
                    ``(A) In general.--The interest rate''; and
                    (B) by adding at the end the following new 
                subparagraph:
                    ``(B) Reduction in interest rate.--
                            ``(i) In general.--If the Secretary 
                        determines that the interest rate described 
                        under subparagraph (A) has increased by more 
                        than 1 percent between the time the Secretary 
                        signs the master credit agreement and the time 
                        at which the secured loan is made with respect 
                        to a project that is the subject of such master 
                        credit agreement, the Secretary may allow the 
                        interest rate on the secured loan to be up to--
                                    ``(I) 1 percent lower than 
                                subparagraph (A) allows; or
                                    ``(II) for a secured loan being 
                                made with respect to a project that is 
                                certified by the Secretary, in 
                                consultation with the Administrator of 
                                the Environmental Protection Agency, as 
                                only using clean construction 
                                equipment, 1.5 percent lower than 
                                subparagraph (A) allows.
                            ``(ii) Clean construction equipment 
                        defined.--For purposes of this subparagraph, 
                        the term `clean construction equipment' means 
                        nonroad construction vehicles or equipment 
                        powered by diesel engines that--
                                    ``(I) are certified to meet the 
                                Environmental Protection Agency's Tier 
                                4 nonroad engine fine particulate 
                                emission standards, published in the 
                                Federal Register on June 29, 2004 (69 
                                Fed. Reg. 38958); or
                                    ``(II) achieve through other means 
                                a particulate matter emission reduction 
                                of 85 percent or more from uncontrolled 
                                engine emission levels.''; and
            (3) in paragraph (6) by inserting before the period the 
        following: ``, except that when making a secured loan, the 
        Secretary may waive the application of this paragraph with 
        respect to the loan if the amount of the loan does not exceed 
        33 percent of the reasonably anticipated eligible project costs 
        and the loan is secured by tax revenue''.
    (d) Lines of Credit.--Section 604(b)(2) of title 23, United States 
Code, is amended by striking ``33 percent'' and inserting ``49 
percent''.
    (e) Funding.--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) Certain Unobligated Balances.--With respect to a secured loan 
made pursuant to chapter 6 of title 23, United States Code, only 
unobligated balances provided to carry out such chapter that were 
appropriated for a fiscal year prior to the fiscal year in which such 
secured loan is made, and which remain available, may be used to carry 
out the authority granted to the Secretary of Transportation by the 
amendment made by subsection (c)(2)(B).
    (g) Conforming Amendment.--Section 603(a)(1) of title 23, United 
States Code, is amended by inserting after ``into agreements'' the 
following: ``, including master credit agreements,''.
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