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<bill bill-stage="Introduced-in-Senate" public-private="public">
	<form>
		<distribution-code display="yes">II</distribution-code>
		<congress>112th CONGRESS</congress>
		<session>1st Session</session>
		<legis-num>S. 1895</legis-num>
		<current-chamber>IN THE SENATE OF THE UNITED STATES</current-chamber>
		<action>
			<action-date date="20111117">November 17, 2011</action-date>
			<action-desc><sponsor name-id="S331">Mrs. Gillibrand</sponsor>
			 introduced the following bill; which was read twice and referred to the
			 <committee-name committee-id="SSFI00">Committee on
			 Finance</committee-name></action-desc>
		</action>
		<legis-type>A BILL</legis-type>
		<official-title display="yes">To require the Secretary of Commerce to
		  establish a program for the award of grants to States to establish revolving
		  loan funds for small and medium-sized manufacturers to improve energy
		  efficiency and produce clean energy technology, to provide a tax credit for
		  farmers’ investments in value-added agriculture, and for other
		  purposes.</official-title>
	</form>
	<legis-body display-enacting-clause="yes-display-enacting-clause" style="OLC">
		<section commented="no" display-inline="no-display-inline" id="S1" section-type="section-one"><enum>1.</enum><header display-inline="yes-display-inline">Short title; table of contents</header>
			<subsection commented="no" display-inline="no-display-inline" id="id34725912AEB449869C0555D1280FD95C"><enum>(a)</enum><header display-inline="yes-display-inline">Short title</header><text display-inline="yes-display-inline">This Act may be cited as the
			 <quote><short-title>Upstate Works
			 Act</short-title></quote>.</text>
			</subsection><subsection commented="no" display-inline="no-display-inline" id="idAD7E8AA839954316BE6A28B4D14F9F23"><enum>(b)</enum><header display-inline="yes-display-inline">Table of contents</header><text display-inline="yes-display-inline">The table of contents for this Act is as
			 follows:</text>
				<toc>
					<toc-entry idref="S1" level="section">Sec. 1. Short title; table of
				contents.</toc-entry>
					<toc-entry idref="idA7EC5FA164F44466B2DBAE05F6191F1B" level="title">TITLE I—Investments for manufacturing progress and clean
				technology</toc-entry>
					<toc-entry idref="id56E09BB6ED6545F3AE7F9BC8A7C55819" level="section">Sec. 101. Clean energy manufacturing revolving loan fund
				program.</toc-entry>
					<toc-entry idref="H7CDEB1E6F9B345F682524B2A1EDD6A21" level="section">Sec. 102. Clean energy and efficiency manufacturing
				partnerships.</toc-entry>
					<toc-entry idref="H8F6EDFCE49D44BF885857C697AEDA005" level="section">Sec. 103. Technical amendments.</toc-entry>
					<toc-entry idref="id3F69F4D8FEB04E2BADF4385E631A5E36" level="title">TITLE II—Agricultural producers value-added investment tax
				credit</toc-entry>
					<toc-entry idref="H331777D4B1624B1094F038002CCD82FA" level="section">Sec. 201. Credit for farmer investment in value-added
				agricultural property.</toc-entry>
					<toc-entry idref="id3D5B11CF1E68441FBF088CA72F607F49" level="title">TITLE III—Training grants for employees</toc-entry>
					<toc-entry idref="ID92AAF8015D1A4DE482363C22E246597F" level="section">Sec. 301. Definition of Secretary.</toc-entry>
					<toc-entry idref="ID855F93BA14164EFA002682FB651B21C4" level="section">Sec. 302. Authorization.</toc-entry>
					<toc-entry idref="IDED610B1416E54188B0898885E3145DEB" level="section">Sec. 303. Use of amounts.</toc-entry>
					<toc-entry idref="IDDC70D624CEBE467A82E8AD6DFF72C656" level="section">Sec. 304. Requirement of matching funds.</toc-entry>
					<toc-entry idref="ID8CF42CB9AE7C42EE92B4B782DB1000AA" level="section">Sec. 305. Limit on administrative expenses.</toc-entry>
					<toc-entry idref="ID49DECBE441FB44B195ED125210C5C51F" level="section">Sec. 306. Authorization of appropriations.</toc-entry>
					<toc-entry idref="idD87A238E1BE945D7A0A0C3025029B787" level="title">TITLE IV—Federal investment to expand broadband
				access</toc-entry>
					<toc-entry level="section">Sec. 401. Additional authorization of
				appropriations to extend access to broadband telecommunications services in
				rural areas.</toc-entry>
					<toc-entry idref="id5A78D310B7B646E6A52947FCBB617D21" level="title">TITLE V—Build America Bonds to create jobs now</toc-entry>
					<toc-entry idref="HFEC282992D514A9DB8D3B3EDE8BDBAC8" level="section">Sec. 501. Short title.</toc-entry>
					<toc-entry idref="H19090851F1364D6A900E6DF24DEE4621" level="section">Sec. 502. Extension of Build America Bonds.</toc-entry>
				</toc>
			</subsection></section><title commented="no" id="idA7EC5FA164F44466B2DBAE05F6191F1B" level-type="subsequent"><enum>I</enum><header display-inline="yes-display-inline">Investments for manufacturing progress and
			 clean technology</header>
			<section commented="no" display-inline="no-display-inline" id="id56E09BB6ED6545F3AE7F9BC8A7C55819" section-type="subsequent-section"><enum>101.</enum><header display-inline="yes-display-inline">Clean energy manufacturing revolving loan
			 fund program</header><text display-inline="no-display-inline">The National
			 Institute of Standards and Technology Act (<external-xref legal-doc="usc" parsable-cite="usc/15/271">15 U.S.C. 271 et seq.</external-xref>) is amended by
			 inserting after section 26 the following:</text>
				<quoted-block display-inline="no-display-inline" id="H18162042E48248D683159DE105A33CBA" style="OLC">
					<section commented="no" display-inline="no-display-inline" id="HD2AB70326EAC4742B3509A4EA5ABE3E6" section-type="subsequent-section"><enum>27.</enum><header display-inline="yes-display-inline">Clean energy manufacturing revolving loan
				fund program</header>
						<subsection commented="no" display-inline="no-display-inline" id="H2C266341806A4530ABB1996D356220FC"><enum>(a)</enum><header display-inline="yes-display-inline">Purposes</header><text display-inline="yes-display-inline">The purposes of this section are—</text>
							<paragraph commented="no" display-inline="no-display-inline" id="H5D05AA8441AF42CA9E5C16AD0A92B570"><enum>(1)</enum><text display-inline="yes-display-inline">to develop the long-term manufacturing
				capacity of the United States;</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HDCA488F84806402B9590938A5CB3A6BB"><enum>(2)</enum><text display-inline="yes-display-inline">to create jobs through the retooling and
				expansion of manufacturing facilities to produce clean energy technology
				products and energy efficient products;</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H04D4E9EB305544A4A101C4A8C39166C4"><enum>(3)</enum><text display-inline="yes-display-inline">to improve the long-term competitiveness of
				domestic manufacturing by increasing the energy efficiency of manufacturing
				facilities; and</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H663432E90D9B4B9898EEB3CE771F9AE4"><enum>(4)</enum><text display-inline="yes-display-inline">to assist small and medium-sized
				manufacturers diversify operations to respond to emerging clean energy
				technology product markets.</text>
							</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H88B2538FDFDA4F3696128D18CE2537FB"><enum>(b)</enum><header display-inline="yes-display-inline">Definitions</header><text display-inline="yes-display-inline">In this section:</text>
							<paragraph commented="no" display-inline="no-display-inline" id="HCA85719A15694407988C9892CDFA8142"><enum>(1)</enum><header display-inline="yes-display-inline">Clean energy technology
				product</header><text display-inline="yes-display-inline">The term <term>clean
				energy technology product</term> means technology products relating to—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="HD919E6F1C34F47A2B4122BFCEFF5B2B9"><enum>(A)</enum><text display-inline="yes-display-inline">wind turbines;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HBC6FC68AEADF4E5D87022257B3688C25"><enum>(B)</enum><text display-inline="yes-display-inline">solar energy;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HA1AEBCB34A344ADBB081D64975133AB2"><enum>(C)</enum><text display-inline="yes-display-inline">fuel cells;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H274DA18FBF0148338DE9045B91FC21BE"><enum>(D)</enum><text display-inline="yes-display-inline">advanced batteries, battery systems, or
				storage devices;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H0E69DF0A86E34FC7A314CA5AB44D6331"><enum>(E)</enum><text display-inline="yes-display-inline">biomass equipment;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H3884ECB0F4E540E999A3C3614DE51CE9"><enum>(F)</enum><text display-inline="yes-display-inline">geothermal equipment;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H76D18F7B9F1045AEBA226552461D6F1A"><enum>(G)</enum><text display-inline="yes-display-inline">advanced biofuels;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HE96B224541BE4BD8A94CC2DF0FD275F7"><enum>(H)</enum><text display-inline="yes-display-inline">ocean energy equipment;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H8E866A82CFE2436394C189226FD95343"><enum>(I)</enum><text display-inline="yes-display-inline">carbon capture and storage;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H244CABA4E2284DC49F6808EF0653ACFE"><enum>(J)</enum><text display-inline="yes-display-inline">such other products as the Secretary
				determines—</text>
									<clause commented="no" display-inline="no-display-inline" id="H387113D550AB4172954BEBCE2777F672"><enum>(i)</enum><text display-inline="yes-display-inline">relate to the production, use,
				transmission, storage, control, or conservation of energy;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HEC26E69E3C1F45F38013F2BEB2C94571"><enum>(ii)</enum><text display-inline="yes-display-inline">reduce greenhouse gas
				concentrations;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HC3465571C8974546895B2B85ADAEA37B"><enum>(iii)</enum><text display-inline="yes-display-inline">achieve the earliest and maximum emission
				reductions within a reasonable period per dollar invested;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HCBBF4304C005437E806D6A12D0E54D94"><enum>(iv)</enum><text display-inline="yes-display-inline">result in the fewest non-greenhouse gas
				environmental impacts; and</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HE771CBA1C7E142879423F39E60341C5E"><enum>(v)</enum><subclause commented="no" display-inline="yes-display-inline" id="id2496C8499EC341A899E224C950CCE5AE"><enum>(I)</enum><text display-inline="yes-display-inline">reduce the need for additional energy
				supplies by—</text>
											<item commented="no" display-inline="no-display-inline" id="idFBCCB5FB9CC2452BAF28EFF97944C204" indent="up1"><enum>(aa)</enum><text display-inline="yes-display-inline">using existing energy supplies with greater
				efficiency; or</text>
											</item><item commented="no" display-inline="no-display-inline" id="H2495A729E4CA439AB2A309AAD1B844D4" indent="up1"><enum>(bb)</enum><text display-inline="yes-display-inline">transmitting, distributing, or transporting
				energy with greater effectiveness through the infrastructure of the United
				States; or</text>
											</item></subclause><subclause commented="no" display-inline="no-display-inline" id="HC96EB79FFA0B4A12A6BB9020A2D5DCE9" indent="up1"><enum>(II)</enum><text display-inline="yes-display-inline">diversify the sources of energy supply of
				the United States—</text>
											<item commented="no" display-inline="no-display-inline" id="H5C545FC9570C4C7A9D02A3849204CA5C"><enum>(aa)</enum><text display-inline="yes-display-inline">to strengthen energy security; and</text>
											</item><item commented="no" display-inline="no-display-inline" id="H0B54A820659D4444B648AB3F1490E312"><enum>(bb)</enum><text display-inline="yes-display-inline">to increase supplies with a favorable
				balance of environmental effects if the entire technology system is
				considered.</text>
											</item></subclause></clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H25361952231B4C3591631EAEDD9B87EC"><enum>(2)</enum><header display-inline="yes-display-inline">Energy efficient product</header><text display-inline="yes-display-inline">The term <term>energy efficient
				product</term> means a product that the Secretary, in consultation with the
				Secretary of Energy, determines—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="HF9BF4BA791654EA79894EFCBB3D5EB3D"><enum>(A)</enum><text display-inline="yes-display-inline">consumes significantly less energy than the
				average amount that all similar products consumed on the day before the date of
				the enactment of this Act; or</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H6E8E026732B34D5798E8844C04B0F5CE"><enum>(B)</enum><text display-inline="yes-display-inline">is a component, system, or group of
				subsystems that is designed, developed, and validated to optimize the energy
				efficiency of a product.</text>
								</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H713E848449F34DAFBC404EB8144C0E2A"><enum>(3)</enum><header display-inline="yes-display-inline">Program</header><text display-inline="yes-display-inline">The term <term>Program</term> means the
				grant program established pursuant to
				<internal-xref idref="H0D52E7F4E49F4AB0ABB6A58D819E11BA"> subsection
				(c)(1)</internal-xref>.</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HADD4ACB87657497BA244F0368EE40767"><enum>(4)</enum><header display-inline="yes-display-inline">Revolving loan fund</header><text display-inline="yes-display-inline">The term <term>revolving loan fund</term>
				means a revolving loan fund described in subsection (d).</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H6BC9069F930D450DA214C33A1167B36D"><enum>(5)</enum><header display-inline="yes-display-inline">Small or medium-sized
				manufacturer</header><text display-inline="yes-display-inline">The term
				<term>small or medium-sized manufacturer</term> means a manufacturer that
				employs fewer than 500 full-time equivalent employees at a manufacturing
				facility that is not owned or controlled by an automobile manufacturer.</text>
							</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HE7E8D3C3363F4CC39B409E7192358B4B"><enum>(c)</enum><header display-inline="yes-display-inline">Grant program</header>
							<paragraph commented="no" display-inline="no-display-inline" id="H0D52E7F4E49F4AB0ABB6A58D819E11BA"><enum>(1)</enum><header display-inline="yes-display-inline">Establishment</header><text display-inline="yes-display-inline">Not later than 120 days after the date of
				the enactment of this section, the Secretary shall establish a program under
				which the Secretary shall award grants to States to establish revolving loan
				funds to provide loans to small or medium-sized manufacturers to finance the
				cost of—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="HA192C30F53324CABA05B1964D15DA27B"><enum>(A)</enum><text display-inline="yes-display-inline">reequipping, expanding, or establishing
				(including applicable engineering costs) a manufacturing facility in the United
				States to produce—</text>
									<clause commented="no" display-inline="no-display-inline" id="H89BB84FAF32B42879C6C245C420AF643"><enum>(i)</enum><text display-inline="yes-display-inline">clean energy technology products;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HCEA5CE9793794036B66CC23EC41E61FB"><enum>(ii)</enum><text display-inline="yes-display-inline">energy efficient products; or</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H7DE7C7E5E72B403A93E31B9FADD4BCAA"><enum>(iii)</enum><text display-inline="yes-display-inline">integral component parts of clean energy
				technology products or energy efficient products; or</text>
									</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H03A7F12BB890413DB0CE2AF8424E21BE"><enum>(B)</enum><text display-inline="yes-display-inline">reducing the energy intensity or greenhouse
				gas production of a manufacturing facility in the United States, including
				using energy intensive feedstocks.</text>
								</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="HEDF044AD6A0A42DCB59319C437369F7F"><enum>(2)</enum><header display-inline="yes-display-inline">Maximum
				amount</header><text display-inline="yes-display-inline">The Secretary may not
				award a grant under the Program in an amount that exceeds $500,000,000 in any
				fiscal year.</text>
							</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HBBA13294D7644378BA5B16E73DF4E285"><enum>(d)</enum><header display-inline="yes-display-inline">Criteria for awarding grants</header>
							<paragraph commented="no" display-inline="no-display-inline" id="H813C3D332A80449CB79668173E015C4E"><enum>(1)</enum><header display-inline="yes-display-inline">Matching
				funds</header><text display-inline="yes-display-inline">The Secretary may not
				award a grant to a State under the Program unless the State ensures that not
				less than 20 percent of the amount of each loan provided by the State under the
				Program originates from non-Federal sources.</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HC852D9B4CD8548DFA8D6F433558A1256"><enum>(2)</enum><header display-inline="yes-display-inline">Administrative costs</header><text display-inline="yes-display-inline">Grants under the Program may only be used
				for the costs of administering the revolving loan fund, in accordance with
				regulations promulgated by the Secretary.</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HC47734CF789F4839B00DF2863360A454"><enum>(3)</enum><header display-inline="yes-display-inline">Application</header><text display-inline="yes-display-inline">Each State seeking a grant under the
				Program shall submit an application to the Secretary in such form, in such
				manner, and containing such information as the Secretary considers
				appropriate.</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H7AC4CFA51025418C8FADEF558946499F"><enum>(4)</enum><header display-inline="yes-display-inline">Evaluation</header><text display-inline="yes-display-inline">The Secretary shall evaluate and prioritize
				each application submitted by a State for a grant under the Program on the
				basis of—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="H6024AEC00D6B4A248DB55458CBE036B1"><enum>(A)</enum><text display-inline="yes-display-inline">the description of—</text>
									<clause commented="no" display-inline="no-display-inline" id="idF0B1AFB344784E8D805A4EB68EE0B4D1"><enum>(i)</enum><text display-inline="yes-display-inline">the revolving loan fund to be established
				with the grant; and</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="id65D98B0EFFBA45418E2AE1F32AB23987"><enum>(ii)</enum><text display-inline="yes-display-inline">how such revolving loan fund is expected to
				achieve the purposes described in
				<internal-xref idref="H2C266341806A4530ABB1996D356220FC"> subsection
				(a)</internal-xref>;</text>
									</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H82737F7401DA4A48BB49692965340BEC"><enum>(B)</enum><text display-inline="yes-display-inline">whether the State will be able to provide
				loans from the revolving loan fund to small or medium-sized manufacturers
				within 120 days after receiving the grant;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HC1D8F982EEBA4D12935009350CACDB5B"><enum>(C)</enum><text display-inline="yes-display-inline">a description of how the State is planning
				to coordinate the administration of the revolving loan fund with other State
				and Federal programs, including programs administered by the Assistant
				Secretary for Economic Development;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H7EB5AF28729946FEA1981E70F6FF3F37"><enum>(D)</enum><text display-inline="yes-display-inline">a description of the actual or potential
				clean energy manufacturing supply chains, including significant component
				parts, in the region served by the revolving loan fund;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HBA4B068B30A34033877C62977C5183D4"><enum>(E)</enum><text display-inline="yes-display-inline">how the State is planning to target the
				provision of loans under the Program to manufacturers located in regions
				characterized by high unemployment and sudden and severe economic dislocation,
				particularly if mass layoffs have resulted in a precipitous increase in
				unemployment;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H9A123D02319F4593B44F0FFB32FBD924"><enum>(F)</enum><text display-inline="yes-display-inline">the availability of a skilled manufacturing
				workforce in the region served by the revolving loan fund;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idE85862C193984BA4BBB8EEDD6BCC9244"><enum>(G)</enum><text display-inline="yes-display-inline">the capacity of the region’s workforce and
				education systems to provide pathways for unemployed or low-income workers into
				skilled manufacturing employment;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HB0BDCB4C48E747AE9F28CCA9F14EB458"><enum>(H)</enum><text display-inline="yes-display-inline">a description of how the State will target
				loans to small or medium-sized manufacturers that—</text>
									<clause commented="no" display-inline="no-display-inline" id="H19B2AFAA998747F8A93B65ADD021A7B1"><enum>(i)</enum><text display-inline="yes-display-inline">manufacture automobile components;
				and</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H42EF2649B17944259A2C0ACB9DBF6414"><enum>(ii)</enum><subclause commented="no" display-inline="yes-display-inline" id="id0D506A26D14B416B9BB182C22A7F252C"><enum>(I)</enum><text display-inline="yes-display-inline">increase the energy efficiency of their
				manufacturing facilities; or</text>
										</subclause><subclause commented="no" display-inline="no-display-inline" id="idDE3D8F5134014CE58799A8949B3D2752" indent="up1"><enum>(II)</enum><text display-inline="yes-display-inline">retool to manufacture clean energy products
				or energy efficient products, including manufacturing components to improve the
				compliance of an automobile with fuel economy standards prescribed under
				<external-xref legal-doc="usc" parsable-cite="usc/49/32902">section
				32902</external-xref> of title 49, United States Code;</text>
										</subclause></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HBE95A712FDBC472396DA1583B97C3B61"><enum>(I)</enum><text display-inline="yes-display-inline">a description of how the State is planning
				to use the loan fund to achieve the earliest and maximum greenhouse gas
				emission reductions within a reasonable period of time for each dollar invested
				and with the fewest non-greenhouse gas environmental impacts; and</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HCB4FE14394A54139BEFB11989FBB320B"><enum>(J)</enum><text display-inline="yes-display-inline">such other factors as the Secretary
				considers appropriate to ensure that grants awarded under the Program
				effectively and efficiently achieve the purposes described in
				<internal-xref idref="H2C266341806A4530ABB1996D356220FC"> subsection
				(a)</internal-xref>.</text>
								</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HAFC62AD1992940CD8346F51F0EF60F07"><enum>(e)</enum><header display-inline="yes-display-inline">Revolving loan funds</header>
							<paragraph commented="no" display-inline="no-display-inline" id="HD744EE4C499042B88D0DA9403D70A3E3"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">A State receiving a grant under the Program
				shall establish, maintain, and administer a revolving loan fund in accordance
				with this subsection.</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HF0B4B0CE9DB943EEB01999D36AA7EE6C"><enum>(2)</enum><header display-inline="yes-display-inline">Deposits</header><text display-inline="yes-display-inline">A revolving loan fund shall consist
				of—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="H1E4F5C775A5C4E16875B94624AFA345A"><enum>(A)</enum><text display-inline="yes-display-inline">amounts from grants awarded under this
				section; and</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H288CA050352A4711B635CF0D76B4D098"><enum>(B)</enum><text display-inline="yes-display-inline">all amounts held or received by the State
				incident to the provision of loans described in
				<internal-xref idref="H14D27D3D2EF54E708E23677E981F4E7D">subsection
				(f)</internal-xref>, including all collections of principal and
				interest.</text>
								</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H4B7DCD4C8D0A4ECB80B005A32F50B574"><enum>(3)</enum><header display-inline="yes-display-inline">Expenditures</header><text display-inline="yes-display-inline">Amounts in the revolving loan fund shall be
				available for the provision and administration of loans in accordance with
				<internal-xref idref="H14D27D3D2EF54E708E23677E981F4E7D">subsection
				(f)</internal-xref>.</text>
							</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H14D27D3D2EF54E708E23677E981F4E7D"><enum>(f)</enum><header display-inline="yes-display-inline">Loans</header>
							<paragraph commented="no" display-inline="no-display-inline" id="H3CEF093A5EAB4C7997DD3E20A62A8901"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">A State receiving a grant under this
				section shall use the amount in the revolving loan fund to provide loans to
				small or medium-sized manufacturers.</text>
							</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H7CF59A4A1C86495794742C703216F560"><enum>(2)</enum><header display-inline="yes-display-inline">Loan terms and conditions</header>
								<subparagraph commented="no" display-inline="no-display-inline" id="H02225E06C42B4F078BD442E9175A3184"><enum>(A)</enum><header display-inline="yes-display-inline">Terms</header><text display-inline="yes-display-inline">In determining the term of each loan
				provided under paragraph (1), the State shall ensure that—</text>
									<clause commented="no" display-inline="no-display-inline" id="HF4E1726522A2453AB11671D32B610FDC"><enum>(i)</enum><text display-inline="yes-display-inline">the term of any loan for fixed assets does
				not exceed the useful life of the asset and is shorter than 15 years;
				and</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H66D014CCE29D4D5785BDCB41018B3D62"><enum>(ii)</enum><text display-inline="yes-display-inline">the term of any loan for working capital is
				not longer than 3 years.</text>
									</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HAF7B395146864D5AA40545C2F2867FBA"><enum>(B)</enum><header display-inline="yes-display-inline">Interest
				rates</header><text display-inline="yes-display-inline">The interest rate set
				by the State for each loan provided under paragraph (1)—</text>
									<clause commented="no" display-inline="no-display-inline" id="idFBE476554C9144F5A5C02EECA40E0409"><enum>(i)</enum><text display-inline="yes-display-inline">shall enable the loan recipient to
				accomplish the activities described in subparagraphs (A) and (B) of subsection
				(c)(1);</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H51AFC7527FD9488097B0FAA977162787"><enum>(ii)</enum><text display-inline="yes-display-inline">may be set at below-market interest
				rates;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HC18930D820D2459CAA3C9E656BD21BA3"><enum>(iii)</enum><text display-inline="yes-display-inline">may not be lower than 0 percent; and</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H09DA39CAA66641489B0203AA051E80D2"><enum>(iv)</enum><text display-inline="yes-display-inline">may not be greater than 500 basis points
				above the prime rate, as of the settlement date for such loan.</text>
									</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HC192D3E31684495282FBA292EF2B0DA3"><enum>(C)</enum><header display-inline="yes-display-inline">Description and budget for use of loan
				funds</header><text display-inline="yes-display-inline">Each recipient of a
				loan from a State under the Program shall develop and submit, to the State and
				to the Secretary, a description and budget for the use of loan amounts,
				including a description of—</text>
									<clause commented="no" display-inline="no-display-inline" id="H8DCB6D156AA246A097F495D48D51EEBB"><enum>(i)</enum><text display-inline="yes-display-inline">any new business expected to be developed
				with the loan;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HCBC81D71AADB42AB84BCD4AB0F53D4A0"><enum>(ii)</enum><text display-inline="yes-display-inline">any improvements to manufacturing
				operations to be developed with the loan; and</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H2BF1723084AE4E218756F4FD7BDB504F"><enum>(iii)</enum><text display-inline="yes-display-inline">any technology expected to be
				commercialized with the loan.</text>
									</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H6CD268DCF6E34161B542EDD0EA3FDEDA"><enum>(D)</enum><header display-inline="yes-display-inline">Priority in review and preference in
				selection for certain loan applicants</header>
									<clause commented="no" display-inline="no-display-inline" id="H3A63F7A6802A41D2A451636F48A45C5C"><enum>(i)</enum><header display-inline="yes-display-inline">Review</header><text display-inline="yes-display-inline">In reviewing applications submitted by
				small or medium-sized manufacturers for a loan, a recipient of a grant under
				the Program shall give priority to small or medium-sized manufacturers
				described in clause (iii).</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H560A328847694D6EB25518DFA381FE00"><enum>(ii)</enum><header display-inline="yes-display-inline">Selection</header><text display-inline="yes-display-inline">In selecting small or medium-sized
				manufacturers to receive a loan, a recipient of a grant under the Program shall
				give preference to small or medium-sized manufacturers described in clause
				(iii).</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H33851753E05A478BAB0BB18CEF57879E"><enum>(iii)</enum><header display-inline="yes-display-inline">Priority and preferred small or
				medium-sized manufacturers</header><text display-inline="yes-display-inline">A
				small or medium-sized manufacturer described in this clause is a manufacturer
				that—</text>
										<subclause commented="no" display-inline="no-display-inline" id="H5AE7E94CD1CF4E1581A5897D63106AA3"><enum>(I)</enum><text display-inline="yes-display-inline">is certified by a Hollings Manufacturing
				Extension Center or a manufacturing-related local intermediary designated by
				the Secretary for purposes of providing such certification; or</text>
										</subclause><subclause commented="no" display-inline="no-display-inline" id="H2EE6698AF11A466FB0FC953455BB132C"><enum>(II)</enum><text display-inline="yes-display-inline">provides individuals employed at the
				manufacturing facilities of the manufacturer with—</text>
											<item commented="no" display-inline="no-display-inline" id="H57B20365C0C54127B5F242DFF4257C7F"><enum>(aa)</enum><text display-inline="yes-display-inline">pay that is, on average, not less than the
				average wage of an individual working in a manufacturing facility in the State;
				and</text>
											</item><item commented="no" display-inline="no-display-inline" id="H579B1C5FA3C64FAABC4E7DBBB7FC859F"><enum>(bb)</enum><text display-inline="yes-display-inline">health benefits.</text>
											</item></subclause></clause><clause commented="no" display-inline="no-display-inline" id="H2C67FF892B2D4C30AB94A2EB9B5A32FF"><enum>(iv)</enum><header display-inline="yes-display-inline">Certification by Hollings Manufacturing
				Extension Center</header><text display-inline="yes-display-inline">A Hollings
				Manufacturing Extension Center or other entity designated by the Secretary for
				purposes of providing certification under clause (iii)(I) may not certify
				applications for a loan until the Center or other entity has completed a
				qualitative and quantitative review of the applicant’s business strategy,
				manufacturing operations, and technological ability to contribute to the
				purposes described in subsection (a).</text>
									</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H98C4A5A0DF164B9DB528CAC9E6E630CE"><enum>(E)</enum><header display-inline="yes-display-inline">Repayment upon relocation outside United
				States</header>
									<clause commented="no" display-inline="no-display-inline" id="H1E2D03B57AD74A10A60800B2D100FC70"><enum>(i)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The recipient of a loan under paragraph (1)
				to finance the cost of reequipping, expanding, or establishing a manufacturing
				facility or to reduce the energy intensity of a manufacturing facility that
				relocates the production activities of such manufacturing facility outside the
				United States during the term of the loan shall repay such loan in full in
				accordance with this subparagraph.</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="HDB920AA7DE144E77BE7E0DD8134BE6B9"><enum>(ii)</enum><header display-inline="yes-display-inline">Payment of interest</header><text display-inline="yes-display-inline">The repayment of a loan under clause (i)
				shall bear interest at a penalty rate determined by the Secretary to deter
				recipients of loans under paragraph (1) from relocating production activities
				outside the United States.</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H2A07C2BCE4AC44B6BFD7A87EE5D8BF8F"><enum>(iii)</enum><header display-inline="yes-display-inline">Period of repayment</header><text display-inline="yes-display-inline">The Secretary shall determine the duration
				of the repayment of a loan under clause (i).</text>
									</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HB2FB4B61AF6F4619953A3AB08DDB30F2"><enum>(F)</enum><header display-inline="yes-display-inline">Compliance with wage rate
				requirements</header><text display-inline="yes-display-inline">Each recipient
				of a loan under paragraph (1) shall incorporate, into all contracts for
				construction, alteration, or repair, which are paid for, in whole or in part,
				with amounts obtained pursuant to such loan, a requirement that all laborers
				and mechanics employed by contractors and subcontractors performing
				construction, alteration, or repair shall be paid wages at rates not less than
				those determined by the Secretary of Labor, in accordance with subchapter IV of
				<external-xref legal-doc="usc-chapter" parsable-cite="usc-chapter/40/31">chapter 31</external-xref> of title 40,
				United States Code (known as the <quote>Davis-Bacon Act</quote>), to be
				prevailing for the corresponding classes of laborers and mechanics employed on
				projects of a character similar to the contract work in the same locality in
				which the work is to be performed. With respect to the labor standards
				specified in this subparagraph, the Secretary of Labor shall have the authority
				and functions set forth in Reorganization Plan Numbered 14 of 1950 (15 Fed.
				Reg. 3176; 64 Stat. 1267) and
				<external-xref legal-doc="usc" parsable-cite="usc/40/3145">section
				3145</external-xref> of title 40, United States Code.</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HA328F62378BF4C9A941A0D295F345520"><enum>(G)</enum><header display-inline="yes-display-inline">Annual reports by loan
				recipients</header><text display-inline="yes-display-inline">Not less
				frequently than once each year during the term of each loan issued by a State
				under paragraph (1), the loan recipient shall submit a report to such State
				that contains such information as the Secretary may specify for purposes of the
				Program, including information that the Secretary can use to determine whether
				a recipient of a loan is required to repay the loan under subparagraph
				(E).</text>
								</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H4D6D9B9C500742CBA7391E72DAC85D15"><enum>(3)</enum><header display-inline="yes-display-inline">Annual reports by grant
				recipients</header><text display-inline="yes-display-inline">Not less
				frequently than once each year, each recipient of a grant under the Program
				shall submit a report to the Secretary that describes—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="id59A60FFD8F614FA78B5E711583A06A2D"><enum>(A)</enum><text display-inline="yes-display-inline">the impact of each loan issued by the State
				under the Program; and</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id56E34E7991CC4E28868CF442C00D5B02"><enum>(B)</enum><text display-inline="yes-display-inline">the aggregate impact of all such loans,
				including—</text>
									<clause commented="no" display-inline="no-display-inline" id="H2CCB23515AFB4CC7ABB8C95A717FBB3E"><enum>(i)</enum><text display-inline="yes-display-inline">the sales increased or retained;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H648906F7D51F4C85B48A55D844504036"><enum>(ii)</enum><text display-inline="yes-display-inline">cost savings or costs avoided;</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H7ACD6223D11D435F9E554D99E184655B"><enum>(iii)</enum><text display-inline="yes-display-inline">additional investment encouraged;
				and</text>
									</clause><clause commented="no" display-inline="no-display-inline" id="H24D41AAF2F434CBC93F726CB645D4A7B"><enum>(iv)</enum><text display-inline="yes-display-inline">jobs created or retained.</text>
									</clause></subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HF414314898D64A9F9BFA1FF598914235"><enum>(g)</enum><header display-inline="yes-display-inline">Authorization of
				appropriations</header><text display-inline="yes-display-inline">There is
				authorized to be appropriated $15,000,000,000 for each of fiscal years 2012 and
				2013 to carry out this
				section.</text>
						</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
			</section><section commented="no" display-inline="no-display-inline" id="H7CDEB1E6F9B345F682524B2A1EDD6A21" section-type="subsequent-section"><enum>102.</enum><header display-inline="yes-display-inline">Clean energy and efficiency manufacturing
			 partnerships</header>
				<subsection commented="no" display-inline="no-display-inline" id="H50CBE274E72F4F8C844B3AF7B2F67379"><enum>(a)</enum><header display-inline="yes-display-inline">Hollings Manufacturing Partnership
			 Program</header><text display-inline="yes-display-inline">Section 25(b) of the
			 National Institute of Standards and Technology Act (<external-xref legal-doc="usc" parsable-cite="usc/15/278k">15 U.S.C. 278k(b)</external-xref>)
			 is amended—</text>
					<paragraph commented="no" display-inline="no-display-inline" id="H2F7B0F3D75094B068498F5DF88DF7688"><enum>(1)</enum><text display-inline="yes-display-inline">in paragraph (2), by striking
			 <quote>and</quote> at the end;</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H69771401B7714D8E9B1FE20626493909"><enum>(2)</enum><text display-inline="yes-display-inline">in paragraph (3), by striking the period at
			 the end and inserting <quote>; and</quote>; and</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HC54BC516174F4ACBAE48BA63F956026A"><enum>(3)</enum><text display-inline="yes-display-inline">by adding at the end the following:</text>
						<quoted-block display-inline="no-display-inline" id="HEE9056807E8346E494F8885738A9E097" style="OLC">
							<paragraph commented="no" display-inline="no-display-inline" id="HE080476DE2AB4146BBA629DD20FB34CC"><enum>(4)</enum><text display-inline="yes-display-inline">the establishment of a clean energy
				manufacturing supply chain initiative—</text>
								<subparagraph commented="no" display-inline="no-display-inline" id="H2BD1F7E3C7AA46C482CDD48E24294238"><enum>(A)</enum><text display-inline="yes-display-inline">to support manufacturers in their
				identification of and diversification to new markets, including support for
				manufacturers transitioning to the use of clean energy supply chains;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H5EBFAE3A77054CC1ADD3F2F6AF1F3827"><enum>(B)</enum><text display-inline="yes-display-inline">to assist manufacturers improve their
				competitiveness by reducing energy intensity and greenhouse gas production,
				including the use of energy intensive feedstocks;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H4C004FBFD70A478E9C25EECCAF8C89F5"><enum>(C)</enum><text display-inline="yes-display-inline">to increase adoption and implementation of
				innovative manufacturing technologies;</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H910FC77447934F57A10C3CEFC6991FFA"><enum>(D)</enum><text display-inline="yes-display-inline">to coordinate and leverage the expertise of
				the National Laboratories and Technology Centers and the Industrial Assessment
				Centers of the Department of Energy to meet the needs of manufacturers;
				and</text>
								</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H01AC4FC35557426198010979508637D5"><enum>(E)</enum><text display-inline="yes-display-inline">to identify, assist, and certify
				manufacturers seeking loans under section
				27(e)(1).</text>
								</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
					</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H06FAA6A1CD2D4D8EA39DD882808AF48D"><enum>(b)</enum><header display-inline="yes-display-inline">Reduction in cost share
			 requirements</header><text display-inline="yes-display-inline">Section 25(c) of
			 the National Institute of Standards and Technology Act (<external-xref legal-doc="usc" parsable-cite="usc/15/278k">15 U.S.C. 278k(c)</external-xref>)
			 is amended—</text>
					<paragraph commented="no" display-inline="no-display-inline" id="HED34BA46A928430B9A5335BD33CD17D7"><enum>(1)</enum><text display-inline="yes-display-inline">in paragraph (1), by striking <quote>six
			 years</quote> and inserting <quote>6 years, or as provided in paragraph
			 (5)</quote>;</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HC7F68E3EA7AA4A29B6469753CA56F9F5"><enum>(2)</enum><text display-inline="yes-display-inline">in paragraph (3)(B), by striking <quote>not
			 less than 50 percent of the costs incurred for the first 3 years and an
			 increasing share for each of the last 3 years</quote> and inserting <quote>50
			 percent of the costs incurred, or such lesser percentage of the costs incurred
			 that the Secretary determines, by rule, to be appropriate</quote>; and</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HFBF08E161DC34261B61A8D028319C99C"><enum>(3)</enum><text display-inline="yes-display-inline">in paragraph (5)—</text>
						<subparagraph commented="no" display-inline="no-display-inline" id="H19E4A84E710A42D9A33256739DDE52B5"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>at declining
			 levels</quote>; and</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HB4DADFC5609548D897EE19045CED53C7"><enum>(B)</enum><text display-inline="yes-display-inline">by striking <quote>one third of the capital
			 and annual operating and maintenance costs</quote> and inserting <quote>50
			 percent of the capital and annual operating and maintenance costs, or such
			 lesser percentage that the Secretary determines, by rule, to be
			 appropriate</quote>.</text>
						</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HE038475DB4EF43C4AC8BCD1DEF95A3EC"><enum>(c)</enum><header display-inline="yes-display-inline">Authorization of
			 appropriations</header><text display-inline="yes-display-inline">There are
			 authorized to be appropriated to the Secretary of Commerce for the Hollings
			 Manufacturing Partnership Program authorized under sections 25 of the National
			 Institute of Standards and Technology Act (<external-xref legal-doc="usc" parsable-cite="usc/15/278k">15 U.S.C. 278k</external-xref>) and for the
			 provision of assistance under section 26 of such Act (<external-xref legal-doc="usc" parsable-cite="usc/15/278l">15 U.S.C.
			 278l</external-xref>)—</text>
					<paragraph commented="no" display-inline="no-display-inline" id="H47B533F062854A75AC34B320A8D08D1E"><enum>(1)</enum><text display-inline="yes-display-inline">$200,000,000 for fiscal year 2012;</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H43B39B651A10463EBED61F63A023E64E"><enum>(2)</enum><text display-inline="yes-display-inline">$250,000,000 for fiscal year 2013;</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H6EE8A667264B46B8A187CF27B72ED45F"><enum>(3)</enum><text display-inline="yes-display-inline">$300,000,000 for fiscal year 2014;</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H0684958A812544458446245C3F6BFAC7"><enum>(4)</enum><text display-inline="yes-display-inline">$350,000,000 for fiscal year 2015;
			 and</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H752F6607F5E84AA3BBC2971925F1BA6C"><enum>(5)</enum><text display-inline="yes-display-inline">$400,000,000 for fiscal year 2016.</text>
					</paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="H8F6EDFCE49D44BF885857C697AEDA005" section-type="subsequent-section"><enum>103.</enum><header display-inline="yes-display-inline">Technical amendments</header>
				<subsection commented="no" display-inline="no-display-inline" id="H47193602C11643BD8AEFE210B621E592"><enum>(a)</enum><header display-inline="yes-display-inline">Amendment to National Institute of
			 Standards and Technology Act</header><text display-inline="yes-display-inline">Section 25 of the National Institute of
			 Standards and Technology Act (<external-xref legal-doc="usc" parsable-cite="usc/15/278k">15 U.S.C. 278k</external-xref>) is amended—</text>
					<paragraph commented="no" display-inline="no-display-inline" id="H4D6D2EEADDEB459AB3491D54853B39C5"><enum>(1)</enum><text display-inline="yes-display-inline">in subsection (a), by striking
			 <quote>(hereafter in this Act referred to as the
			 <quote>Centers</quote>)</quote>; and</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H2701A84642204254AA0E008184A654DD"><enum>(2)</enum><text display-inline="yes-display-inline">by adding at the end the following:</text>
						<quoted-block display-inline="no-display-inline" id="H4166F3B131F442248489E653BB12BC4E" style="OLC">
							<subsection commented="no" display-inline="no-display-inline" id="H829417B6DB8A493A9366D25F28740536"><enum>(g)</enum><header display-inline="yes-display-inline">Designation</header>
								<paragraph commented="no" display-inline="no-display-inline" id="HB36B5C2056C44B639AAA43FBB6EEF530"><enum>(1)</enum><header display-inline="yes-display-inline">Hollings Manufacturing Partnership
				Program</header><text display-inline="yes-display-inline">For purposes of this
				Act, the program established under this section shall be known as the
				<term>Hollings Manufacturing Partnership Program</term>.</text>
								</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HAE217E16B68D4AE9A7260A6AD7B8CF50"><enum>(2)</enum><header display-inline="yes-display-inline">Hollings Manufacturing Extension
				Centers</header><text display-inline="yes-display-inline">For purposes of this
				Act, the Regional Centers for the Transfer of Manufacturing Technology created
				and supported under subsection (a) shall be known as <term>Hollings
				Manufacturing Extension Centers</term> or
				<term>Centers</term>).</text>
								</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
					</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H84F6D722928844E682F970B487A69984"><enum>(b)</enum><header display-inline="yes-display-inline">Amendment to Consolidated Appropriations
			 Act, 2005</header><text display-inline="yes-display-inline">Title II of
			 division B of the Consolidated Appropriations Act, 2005 (<external-xref legal-doc="public-law" parsable-cite="pl/108/447">Public Law
			 108–447</external-xref>; 118 Stat. 2879;
			 <external-xref legal-doc="usc" parsable-cite="usc/15/278k">15 U.S.C.
			 278k</external-xref> note) is amended under the heading <quote><header-in-text level="appropriations-small" other-style="traditional-inline" style="other">industrial technology services</header-in-text></quote> by
			 striking <quote>2007: 
			 <proviso><italic>Provided further, </italic>That</proviso></quote>
			 and all that follows through <quote>Extension Centers.</quote> and inserting
			 <quote>2007.</quote>.</text>
				</subsection></section></title><title commented="no" id="id3F69F4D8FEB04E2BADF4385E631A5E36" level-type="subsequent"><enum>II</enum><header display-inline="yes-display-inline">Agricultural producers value-added
			 investment tax credit</header>
			<section commented="no" display-inline="no-display-inline" id="H331777D4B1624B1094F038002CCD82FA" section-type="subsequent-section"><enum>201.</enum><header display-inline="yes-display-inline">Credit for farmer investment in value-added
			 agricultural property</header>
				<subsection commented="no" display-inline="no-display-inline" id="H414BF6ED80E54D3F9E1250F33DBED83"><enum>(a)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">Subpart D of part IV of subchapter A of
			 chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end
			 the following new section:</text>
					<quoted-block display-inline="no-display-inline" id="H945FABF030BE4D5C91AB6EBEF6ECF13C" style="OLC">
						<section commented="no" display-inline="no-display-inline" id="H7268A4427B484048B21B00AEAB96D535" section-type="subsequent-section"><enum>45S.</enum><header display-inline="yes-display-inline">Value-added agricultural property
				investment credit</header>
							<subsection commented="no" display-inline="no-display-inline" id="H226CFFFAAF774D49B6A59F53AFDEC8E9"><enum>(a)</enum><header display-inline="yes-display-inline">General rule</header><text display-inline="yes-display-inline">For purposes of section 38, in the case of
				a taxpayer who is—</text>
								<paragraph commented="no" display-inline="no-display-inline" id="H77870FF2A3E14628A9BEA2AB00F9F5C6"><enum>(1)</enum><text display-inline="yes-display-inline">an eligible person, or</text>
								</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HC735496425FE4A948DE490B2F24BAA55"><enum>(2)</enum><text display-inline="yes-display-inline">a farmer-owned entity,</text>
								</paragraph><continuation-text commented="no" continuation-text-level="subsection">the value-added agricultural
				property investment credit determined under this section for any taxable year
				is 50 percent of the basis of any qualified value-added agricultural property
				placed in service during the taxable year. In the case of a farmer-owned
				entity, such credit shall be allocated on a pro rata basis among eligible
				persons holding qualified investments in such entity as of the last day of such
				taxable year.</continuation-text></subsection><subsection commented="no" display-inline="no-display-inline" id="H94EA7DB5A7214477B1674352CB614D21"><enum>(b)</enum><header display-inline="yes-display-inline">Maximum
				credit</header><text display-inline="yes-display-inline">For purposes of
				subsection (a)—</text>
								<paragraph commented="no" display-inline="no-display-inline" id="HE9ED0C7F92024B0C83B37425BE69C6CD"><enum>(1)</enum><header display-inline="yes-display-inline">Property placed in service by eligible
				person</header><text display-inline="yes-display-inline">In the case of
				property placed in service during a taxable year by an eligible person, the
				credit determined under this section for such year shall not exceed $30,000,
				reduced by the amount of the creditable investments allowed for the taxable
				year under paragraph (2).</text>
								</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HA396167ED04A425EA5FA39E403D31638"><enum>(2)</enum><header display-inline="yes-display-inline">Property placed in service by farmer-owned
				entity</header>
									<subparagraph commented="no" display-inline="no-display-inline" id="H6CCD0818E7CD4250BB38E14EA77059A3"><enum>(A)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">In the case of property placed in service
				by a farmer-owned entity, the credit determined under this section shall not
				exceed the sum of the eligible person’s creditable investments in such entity
				as of the date such property is placed in service.</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H05EFEDC9D46A4B60A9F62108184929BF"><enum>(B)</enum><header display-inline="yes-display-inline">Creditable investments</header><text display-inline="yes-display-inline">For purposes of subparagraph (A), the term
				<term>creditable investments</term> means, with respect to any property placed
				in service by a farmer-owned entity, the aggregate qualified investments made
				by the eligible person in such entity, reduced (but not below zero) by the sum
				of—</text>
										<clause commented="no" display-inline="no-display-inline" id="H6FAA44040DBF4ADBAAE4911D37DB8EC0"><enum>(i)</enum><text display-inline="yes-display-inline">the amount of the aggregate qualified
				investments made by such person in such entity which were taken into account
				under this section with respect to property previously placed in service by
				such entity, and</text>
										</clause><clause commented="no" display-inline="no-display-inline" id="H1413C34F894A4DE2B750DE99B00BBC8"><enum>(ii)</enum><text display-inline="yes-display-inline">the amount of the aggregate qualified
				investments made by such person in all other farmer-owned entities which were
				taken into account under this section with respect to property previously
				placed in service by such other entities.</text>
										</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H0A7C6D02156C4E4AAE6226E51D37F250"><enum>(C)</enum><header display-inline="yes-display-inline">Limitation</header><text display-inline="yes-display-inline">For purposes of this paragraph, the
				aggregate qualified investments made by the eligible person which may be taken
				into account for any taxable year shall not exceed $30,000.</text>
									</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H4B20E48FF8474D0FB8514D007110C190"><enum>(c)</enum><header display-inline="yes-display-inline">Definitions</header><text display-inline="yes-display-inline">For purposes of this section—</text>
								<paragraph commented="no" display-inline="no-display-inline" id="H569CB7F1CA4C4A2B86295D6FC82A1EB"><enum>(1)</enum><header display-inline="yes-display-inline">Qualified value-added agricultural
				property</header><text display-inline="yes-display-inline">The term
				<term>qualified value-added agricultural property</term> means property—</text>
									<subparagraph commented="no" display-inline="no-display-inline" id="H3050601D39E14F4BA44DAE3D66C200CB"><enum>(A)</enum><text display-inline="yes-display-inline">which is used to add value to a good or
				product, suitable for food or nonfood use, derived in whole or in part from
				organic matter which is available on a renewable basis, including agricultural
				crops and agricultural wastes and residues, wood wastes and residues, and
				domesticated animal wastes,</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H63E839FDF73A440ABE00182EF831433D"><enum>(B)</enum><clause commented="no" display-inline="yes-display-inline" id="H35A9809AF2F34B5F90E17FF2FAA4082C"><enum>(i)</enum><text display-inline="yes-display-inline">to which section 168 applies without regard
				to any useful life, or</text>
										</clause><clause commented="no" display-inline="no-display-inline" id="HB9F573CB178C42AF8502836D27742FEE" indent="up1"><enum>(ii)</enum><text display-inline="yes-display-inline">with respect to which depreciation (or
				amortization in lieu of depreciation) is allowable and having a useful life
				(determined as of the time such property is placed in service) of 3 years or
				more, and</text>
										</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H60D782C98C454E6D00EF6818D0F55CC"><enum>(C)</enum><text display-inline="yes-display-inline">which is owned and operated by an eligible
				person or a farmer-owned entity.</text>
									</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="HBBD7A5F44E3448D8A4C7663377A734E2"><enum>(2)</enum><header display-inline="yes-display-inline">Eligible person</header>
									<subparagraph commented="no" display-inline="no-display-inline" id="HC9CC67F6C09C4A3DB98C8F300000F377"><enum>(A)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The term <term>eligible person</term> means
				a person who materially participates during the taxable year in an eligible
				farming business.</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H195E7CED0D1A42D7AFD021BF52CF1D98"><enum>(B)</enum><header display-inline="yes-display-inline">Material participation</header><text display-inline="yes-display-inline">For purposes of subparagraph (A), the
				determination of whether a person materially participates in the trade or
				business of farming shall be made in a manner similar to the manner in which
				such determination is made under section 2032A(e)(6). In the case that the
				person is a corporation, cooperative, partnership, estate, or trust, such
				determination shall be made at the shareholder, partner, or beneficial
				interests level (as the case may be).</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H81BE79DF50894AED8972A4D3F54D23FD"><enum>(C)</enum><header display-inline="yes-display-inline">Eligible farming business</header><text display-inline="yes-display-inline">For purposes of subparagraph (A), the term
				<term>eligible farming business</term> means a farming business (as defined in
				section 263A(e)(4)) which is not a passive activity (within the meaning of
				section 469(c)).</text>
									</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H5D27BF08A54242A38167ED37F210438C"><enum>(3)</enum><header display-inline="yes-display-inline">Farmer-owned entity</header>
									<subparagraph commented="no" display-inline="no-display-inline" id="H2C10779DBAC9411ABB7F46FD45C9002"><enum>(A)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The term <term>farmer-owned entity</term>
				means—</text>
										<clause commented="no" display-inline="no-display-inline" id="H3E803D82B9F44BBABAB69836195E9169"><enum>(i)</enum><text display-inline="yes-display-inline">a corporation (including an S corporation)
				in which eligible persons own 50 percent or more of the total voting power of
				the stock and 50 percent or more (in value) of the stock,</text>
										</clause><clause commented="no" display-inline="no-display-inline" id="HFDC334CFCDE1401085A9D4D00B2B3C8"><enum>(ii)</enum><text display-inline="yes-display-inline">a partnership in which eligible persons own
				50 percent or more of the total voting power of the profits interest and 50
				percent or more (in value) of the profits interest, and</text>
										</clause><clause commented="no" display-inline="no-display-inline" id="HCE463B9093C54685ACD605E05277101F"><enum>(iii)</enum><text display-inline="yes-display-inline">a cooperative in which eligible persons own
				50 percent or more of the total voting power of the member patronage interests
				and 50 percent or more (in value) of the member patronage interests.</text>
										</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H2211FE22722F4FE78B2711D1DB02D2D7"><enum>(B)</enum><header display-inline="yes-display-inline">Constructive ownership rules</header><text display-inline="yes-display-inline">For purposes of subparagraph (A), rules
				similar to the rules of section 263A(e)(2)(B) shall apply; except that, in
				applying such rules, the members of an individual’s family shall be the
				individuals described in subparagraph (C).</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H90665B4EDAC64374BB61640096CE2CA5"><enum>(C)</enum><header display-inline="yes-display-inline">Members of family</header><text display-inline="yes-display-inline">The family of any individual shall include
				only his spouse and children, grandchildren, and great grandchildren (whether
				by the whole or half blood), and the spouses of his children, grandchildren,
				and great grandchildren, who reside in the same household or jointly operate
				farming businesses (as defined in section 263A(e)(4)). For purposes of the
				preceding sentence, a child who is legally adopted, or who is placed with the
				taxpayer by an authorized placement agency for adoption by the taxpayer, shall
				be treated as a child by blood.</text>
									</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="HE75C80566181446084F853CAD930EA8D"><enum>(4)</enum><header display-inline="yes-display-inline">Qualified investments</header>
									<subparagraph commented="no" display-inline="no-display-inline" id="HFA49947BD2FB4D21A4DD38125A3D596"><enum>(A)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The term <term>qualified investments</term>
				means a payment of cash for the purchase of a qualified equity interest in a
				farmer-owned entity.</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H721281BB2F974608966DC68015C37A3"><enum>(B)</enum><header display-inline="yes-display-inline">Qualified equity interest</header><text display-inline="yes-display-inline">The term <term>qualified equity
				interest</term> means—</text>
										<clause commented="no" display-inline="no-display-inline" id="HB49BFC22EE3F4918A1CFCC21D32C36F7"><enum>(i)</enum><text display-inline="yes-display-inline">any stock in a domestic corporation if such
				stock is acquired by the taxpayer after December 31, 2009, and before January
				1, 2016, at its original issue (directly or through an underwriter) from the
				corporation solely in exchange for cash,</text>
										</clause><clause commented="no" display-inline="no-display-inline" id="H15C7D077932F45B3B4BF2189EE7A6F0"><enum>(ii)</enum><text display-inline="yes-display-inline">any capital or profits interest in a
				domestic partnership if such interest is acquired by the taxpayer after
				December 31, 2009, and before January 1, 2016, and</text>
										</clause><clause commented="no" display-inline="no-display-inline" id="H4911473A44AB41A0BBBBE5F11078FE73"><enum>(iii)</enum><text display-inline="yes-display-inline">any patronage interest in a cooperative if
				such interest is acquired by the taxpayer after December 31, 2009, and before
				January 1, 2016.</text>
										</clause><continuation-text commented="no" continuation-text-level="subparagraph">Rules similar to the rules of
				section 1202(c)(3) shall apply for purposes of this paragraph.</continuation-text></subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H8E2504D0FEE24314B8DB897647F08083"><enum>(d)</enum><header display-inline="yes-display-inline">Special rules</header><text display-inline="yes-display-inline">For purposes of this section—</text>
								<paragraph commented="no" display-inline="no-display-inline" id="H929E174F41EB4AC08442D9BCEF7B4E04"><enum>(1)</enum><header display-inline="yes-display-inline">Treatment of married
				individuals</header><text display-inline="yes-display-inline">In the case of a
				separate return by a married individual (as defined in section 7703),
				subsection (b)(3)(A) shall be applied by substituting <quote>$15,000</quote>
				for <quote>$30,000</quote>.</text>
								</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H409BE44ED71A40C39FFB32A4A48BC682"><enum>(2)</enum><header display-inline="yes-display-inline">Applicable rules</header><text display-inline="yes-display-inline">Under regulations prescribed by the
				Secretary—</text>
									<subparagraph commented="no" display-inline="no-display-inline" id="H7E470F9236D34217880055AF0546C173"><enum>(A)</enum><header display-inline="yes-display-inline">Allocation of credit in the case of estates
				and trusts</header><text display-inline="yes-display-inline">Rules similar to
				the rules of subsection (d) of section 52 shall apply.</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H4EBCF3EBD72E41798BEC4873773E3805"><enum>(B)</enum><header display-inline="yes-display-inline">Certain property not eligible</header><text display-inline="yes-display-inline">Rules similar to the rules of section 50(b)
				shall apply.</text>
									</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="HB9CAC6EA974F4AB4A33900A747B7FE44"><enum>(3)</enum><header display-inline="yes-display-inline">Basis adjustment</header><text display-inline="yes-display-inline">For purposes of this subtitle, if a credit
				is allowed under this section to any eligible person with respect to qualified
				value-added agricultural property, the basis of such property shall be reduced
				by the amount of the credit so allowed and increased by the amount of recapture
				under subsection (e).</text>
								</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HCED7551BFDDF471593094E57E47FB66"><enum>(e)</enum><header display-inline="yes-display-inline">Recapture in the case of certain
				dispositions</header>
								<paragraph commented="no" display-inline="no-display-inline" id="HFC6769B9BB5C435A84056BF3F5B23D7"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">Under regulations prescribed by the
				Secretary, rules similar to the rules of section 50(a) shall apply with respect
				to an eligible person if, within the 5-year period beginning on the date
				qualified value-added agricultural property with respect to which such person
				was allowed a credit under subsection (a) is originally placed in
				service—</text>
									<subparagraph commented="no" display-inline="no-display-inline" id="HA2C1ABE963ED4C07996EE3AACC2F5439"><enum>(A)</enum><text display-inline="yes-display-inline">such property ceases to be qualified for
				purposes of this section,</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H154C3B60A97747648E1611CAFF27781B"><enum>(B)</enum><text display-inline="yes-display-inline">the eligible person or the farmer-owned
				entity (as the case may be) disposes of all or part of such property, or</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HBEDD4DF0F117421D9843B3DF33735400"><enum>(C)</enum><text display-inline="yes-display-inline">the eligible person or the farmer-owned
				entity (as the case may be) ceases to be an eligible person or farmer-owned
				entity for purposes of this section.</text>
									</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H84FC2A7A35744B2C9ECD6E76C8C2016E"><enum>(2)</enum><header display-inline="yes-display-inline">Special rules in event of death</header>
									<subparagraph commented="no" display-inline="no-display-inline" id="HE13035B696F143D9A248FA9CB4FFE958"><enum>(A)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The period in paragraph (1) shall be
				suspended with respect to an eligible person for the 2-year period beginning on
				the date of death of such person.</text>
									</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H367FA3EABCB5414894EB05537162DB3B"><enum>(B)</enum><header display-inline="yes-display-inline">Heirs who are eligible
				persons</header><text display-inline="yes-display-inline">In the case that an
				heir of an eligible person is also an eligible person, neither paragraph (1)
				nor subparagraph (A) of this paragraph (unless elected by such heir) shall
				apply with respect to the transfer of property to such heir.</text>
									</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H9A26212BBCB243C2BFA3618604433016"><enum>(f)</enum><header display-inline="yes-display-inline">Regulations</header><text display-inline="yes-display-inline">The Secretary shall prescribe such
				regulations as may be necessary to carry out the purposes of this
				section.</text>
							</subsection><subsection commented="no" display-inline="no-display-inline" id="H6ED5E9836A0749C794A6C0D5A411CFD6"><enum>(g)</enum><header display-inline="yes-display-inline">Termination</header><text display-inline="yes-display-inline">This section shall not apply to property
				placed in service after December 31,
				2013.</text>
							</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="H0CC00F7EB218447FB83BC58385BA00E0"><enum>(b)</enum><header display-inline="yes-display-inline">Credit allowed as part of general business
			 credit</header><text display-inline="yes-display-inline">Section 38(b) of the
			 Internal Revenue Code of 1986 is amended by striking <quote>plus</quote> at the
			 end of paragraph (35), by striking the period at the end of paragraph (36) and
			 inserting <quote>, plus</quote>, and by adding at the end the following new
			 paragraph:</text>
					<quoted-block display-inline="no-display-inline" id="HC14D783D1BCA48599EEC94545CF9ADFA" style="OLC">
						<paragraph commented="no" display-inline="no-display-inline" id="HCBC4134279104C42A47C50B468C1F238"><enum>(37)</enum><text display-inline="yes-display-inline">in the case of an eligible person (as
				defined in section 45S(c)(2)) or farmer-owned entity (as defined in section
				45S(c)(3)), the value-added agricultural property investment credit determined
				under section
				45S(a).</text>
						</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="H984AF8618C63409B831E014EEAFAB43"><enum>(c)</enum><header display-inline="yes-display-inline">Credit allowable against minimum
			 tax</header><text display-inline="yes-display-inline">Subparagraph (B) of
			 section 38(c)(4) of the Internal Revenue Code of 1986 is amended by
			 redesignating clauses (vii) through (ix) as clauses (viii) through (x),
			 respectively, and by inserting after clause (vi) the following new
			 clause:</text>
					<quoted-block display-inline="no-display-inline" id="HA8C2628ED1E44FF7BC0461850882A5F7" style="OLC">
						<clause commented="no" display-inline="no-display-inline" id="HE917C8CD552341EEB18BE4B3563F9705"><enum>(vii)</enum><text display-inline="yes-display-inline">the credit determined under section 45S
				(relating to value-added agricultural property investment
				credit).</text>
						</clause><after-quoted-block>.</after-quoted-block></quoted-block>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="H182C2C11C8EF4CE19887D89667FF00F8"><enum>(d)</enum><header display-inline="yes-display-inline">Deduction for certain unused business
			 credits</header><text display-inline="yes-display-inline">Subsection (c) of
			 section 196 of the Internal Revenue Code of 1986 is amended by striking
			 <quote>and</quote> at the end of paragraph (13), by striking the period at the
			 end of paragraph (14) and inserting <quote>, and</quote>, and by adding at the
			 end the following new paragraph:</text>
					<quoted-block display-inline="no-display-inline" id="H498125C133264607AF00AE5219C21BCF" style="OLC">
						<paragraph commented="no" display-inline="no-display-inline" id="HE82B9BAA3FD04F0A005F9BC356EF8544"><enum>(15)</enum><text display-inline="yes-display-inline">the value-added agricultural property
				investment credit determined under section
				45S.</text>
						</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="H82DFBEB7E9EE4C7BBDD6A497EDAFCAF2"><enum>(e)</enum><header display-inline="yes-display-inline">Basis adjustment</header><text display-inline="yes-display-inline">Subsection (a) of section 1016 of the
			 Internal Revenue Code of 1986 is amended by striking <quote>and</quote> at the
			 end of paragraph (36), by striking the period at the end of paragraph (37) and
			 inserting <quote>, and</quote>, and by adding at the end the following new
			 paragraph:</text>
					<quoted-block display-inline="no-display-inline" id="H4F22CD432E1D4A7D82FE61017025A2D7" style="OLC">
						<paragraph commented="no" display-inline="no-display-inline" id="H3943D549A7D3416BA9B4C73D0192CD2"><enum>(38)</enum><text display-inline="yes-display-inline">to the extent provided in section
				45S(d)(3), in the case of payments with respect to which a credit has been
				allowed under section
				38.</text>
						</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="H66FD56EAB9AC41018F8E025B3782B835"><enum>(f)</enum><header display-inline="yes-display-inline">Clerical amendment</header><text display-inline="yes-display-inline">The table of sections for subpart D of part
			 IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended
			 by adding at the end thereof the following new item:</text>
					<quoted-block display-inline="no-display-inline" id="H550FB89C682E46E2891C2723E4440034" style="OLC">
						<toc regeneration="no-regeneration">
							<toc-entry bold="off" level="section">Sec. 45S. Value-added
				agricultural property investment
				credit.</toc-entry>
						</toc>
						<after-quoted-block>.</after-quoted-block></quoted-block>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="HB61F3CBDCC504CA0A520C79D86E7F0A7"><enum>(g)</enum><header display-inline="yes-display-inline">Effective
			 date</header><text display-inline="yes-display-inline">The amendments made by
			 this section shall apply to qualified investments (as defined in section
			 45S(c)(4) of the Internal Revenue Code of 1986, as added by this section) made,
			 and property placed in service, after December 31, 2011.</text>
				</subsection></section></title><title commented="no" id="id3D5B11CF1E68441FBF088CA72F607F49" level-type="subsequent"><enum>III</enum><header display-inline="yes-display-inline">Training grants for employees</header>
			<section commented="no" display-inline="no-display-inline" id="ID92AAF8015D1A4DE482363C22E246597F" section-type="subsequent-section"><enum>301.</enum><header display-inline="yes-display-inline">Definition of Secretary</header><text display-inline="no-display-inline">In this title, the term
			 <quote>Secretary</quote> means the Secretary of Labor.</text>
			</section><section commented="no" display-inline="no-display-inline" id="ID855F93BA14164EFA002682FB651B21C4" section-type="subsequent-section"><enum>302.</enum><header display-inline="yes-display-inline">Authorization</header>
				<subsection commented="no" display-inline="no-display-inline" id="IDB070C835283E4CD8B282EF5407092729"><enum>(a)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The Secretary, in consultation with the
			 Secretary of Commerce, shall award grants to eligible entities described in
			 subsection (b) to assist the entities to improve the job skills necessary for
			 employment in specific industries. In making such awards, special consideration
			 should be given by the Secretary of Commerce to eligible areas experiencing
			 high unemployment, underemployment, and outmigration or population loss.</text>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="ID634757F17F294F13964016FDB52F23EA"><enum>(b)</enum><header display-inline="yes-display-inline">Eligible entities described</header>
					<paragraph commented="no" display-inline="no-display-inline" id="IDDE6716EF4CF64A449F21CC903C1C0092"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">An eligible entity described in this
			 subsection is a consortium that—</text>
						<subparagraph commented="no" display-inline="no-display-inline" id="ID40A4F7D4FEB04A118409F8F2DF55547C"><enum>(A)</enum><text display-inline="yes-display-inline">shall consist of representatives from not
			 less than 5 businesses, or a lesser number of businesses if such lesser number
			 of businesses employs at least 30 percent of the employees in the industry
			 involved in the region (or a nonprofit organization that represents such
			 businesses);</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID2A7B75559D8F4876BD52CC5229D075D7"><enum>(B)</enum><text display-inline="yes-display-inline">may consist of representatives from—</text>
							<clause commented="no" display-inline="no-display-inline" id="ID241766B51952478A84421C6EC36C4EB6"><enum>(i)</enum><text display-inline="yes-display-inline">labor organizations;</text>
							</clause><clause commented="no" display-inline="no-display-inline" id="ID8A4A01AD455F4B008EDE00AA6F1FABEE"><enum>(ii)</enum><text display-inline="yes-display-inline">State and local government; and</text>
							</clause><clause commented="no" display-inline="no-display-inline" id="ID81DC96ED84BB426197F9BCDE5CAEDE62"><enum>(iii)</enum><text display-inline="yes-display-inline">educational institutions;</text>
							</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID84538C2653CD4D99897543AEF63186FA"><enum>(C)</enum><text display-inline="yes-display-inline">is established to serve 1 or more
			 particular industries; and</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDDEA9D83D993A48C38DCE97F287BEDB03"><enum>(D)</enum><text display-inline="yes-display-inline">is established to serve an eligible
			 area.</text>
						</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id7B83ADE08B6D45B8AC65A85B87F21D15"><enum>(2)</enum><header display-inline="yes-display-inline">Eligible area</header><text display-inline="yes-display-inline">The term <term>eligible area</term> means
			 any county that, based on information contained in the most recent decennial
			 census, has a population of not more than 1,000,000 residents.</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDEC1DABA3576F4A96912E7DB0BA8E3F71"><enum>(3)</enum><header display-inline="yes-display-inline">Majority of representatives</header><text display-inline="yes-display-inline">A majority of the representatives
			 comprising the consortium shall be representatives described in paragraph
			 (1)(A).</text>
					</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID8D0FF41EFCB84035BDF0754604E6C8FB"><enum>(c)</enum><header display-inline="yes-display-inline">Priority for small businesses</header><text display-inline="yes-display-inline">In providing grants under subsection (a),
			 the Secretary shall give priority to an eligible entity if a majority of
			 representatives forming the entity represent small-business concerns (as
			 defined in <external-xref legal-doc="act" parsable-cite="SBA/3(a)">section
			 3(a)</external-xref> of the <act-name parsable-cite="SBA">Small Business
			 Act</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/15/632(a)">15
			 U.S.C. 632(a)</external-xref>).</text>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="IDC11AE0BA18144C198ECAA1B9A49E7EDE"><enum>(d)</enum><header display-inline="yes-display-inline">Maximum amount of grant</header><text display-inline="yes-display-inline">The amount of a grant awarded to an
			 eligible entity under subsection (a) may not exceed $1,000,000 for any fiscal
			 year.</text>
				</subsection></section><section commented="no" display-inline="no-display-inline" id="IDED610B1416E54188B0898885E3145DEB" section-type="subsequent-section"><enum>303.</enum><header display-inline="yes-display-inline">Use of amounts</header>
				<subsection commented="no" display-inline="no-display-inline" id="ID2164E29215AE4487B8D8F300B0B5A02D"><enum>(a)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The Secretary may not award a grant under
			 section 402 to an eligible entity unless the entity agrees to use amounts
			 received from the grant to improve the job skills necessary for employment by
			 businesses in the industry with respect to which the entity was
			 established.</text>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="ID6004F2683EDD4750B922E6009BC3FA9B"><enum>(b)</enum><header display-inline="yes-display-inline">Conduct of program</header>
					<paragraph commented="no" display-inline="no-display-inline" id="ID157E59AE51684310AD5E76D013D38200"><enum>(1)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">In carrying out the program described in
			 subsection (a), the eligible entity may provide for—</text>
						<subparagraph commented="no" display-inline="no-display-inline" id="IDB58356DA80AF4BE697246F99F300B469"><enum>(A)</enum><text display-inline="yes-display-inline">an assessment of training and job skill
			 needs for the industry;</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDD5876894047649FCBF27001CC1FEF074"><enum>(B)</enum><text display-inline="yes-display-inline">the development of a sequence of skill
			 standards that are benchmarked to advanced industry practices;</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID1F7A48416F664FD2BF6CCDFFE73046F0"><enum>(C)</enum><text display-inline="yes-display-inline">the development of curriculum and training
			 methods, including, where appropriate, e-learning or technology-based
			 training;</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID47FEB665500F42B58972C9C1FE92641E"><enum>(D)</enum><text display-inline="yes-display-inline">the purchase, lease, or receipt of
			 donations of training equipment;</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID59780EC370BD40A6A565BB9E5823F086"><enum>(E)</enum><text display-inline="yes-display-inline">the identification of training providers
			 and the development of partnerships between the industry and educational
			 institutions, including community colleges;</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDD0784200DF80448DB4794D63199834CF"><enum>(F)</enum><text display-inline="yes-display-inline">the development of apprenticeship
			 programs;</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDE77BB12ACCF54993BB3BB400D2B0A025"><enum>(G)</enum><text display-inline="yes-display-inline">the development of training programs for
			 workers, including dislocated workers;</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDE13B24F4F9C540C8AF8D2D9CCF336453"><enum>(H)</enum><text display-inline="yes-display-inline">the development of training plans for
			 businesses; and</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDF5697EFE1064465FAA0544FA64F27218"><enum>(I)</enum><text display-inline="yes-display-inline">the development of the membership of the
			 entity.</text>
						</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID92E7FE0A93164B8AB05FFF08F52240FB"><enum>(2)</enum><header display-inline="yes-display-inline">Additional requirement</header><text display-inline="yes-display-inline">In carrying out the program described in
			 subsection (a), the eligible entity shall provide for the development and
			 tracking of performance outcome measures for the program and the training
			 providers involved in the program.</text>
					</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDD3FF8EB2C382477AB4D1B7A6F7FCCF35"><enum>(c)</enum><header display-inline="yes-display-inline">Administrative costs</header><text display-inline="yes-display-inline">The eligible entity may use not more than
			 10 percent of the amount of a grant to pay for administrative costs associated
			 with the program described in subsection (a).</text>
				</subsection></section><section commented="no" display-inline="no-display-inline" id="IDDC70D624CEBE467A82E8AD6DFF72C656" section-type="subsequent-section"><enum>304.</enum><header display-inline="yes-display-inline">Requirement of matching funds</header>
				<subsection commented="no" display-inline="no-display-inline" id="IDBDB8983AAE7547E3829033F31E98417B"><enum>(a)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">The Secretary may not award a grant under
			 section 402 to an eligible entity unless the entity agrees that the entity will
			 make available non-Federal contributions toward the costs of carrying out
			 activities under the grant in an amount that is not less than $2 for each $1 of
			 Federal funds provided under the grant, of which—</text>
					<paragraph commented="no" display-inline="no-display-inline" id="ID6A851EB3DB434207A7F827331DAEB4E6"><enum>(1)</enum><text display-inline="yes-display-inline">$1 shall be provided by the businesses
			 participating in the entity; and</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDDA544750C62E45C086BF44E2DED67E90"><enum>(2)</enum><text display-inline="yes-display-inline">$1 shall be provided by the State or local
			 government involved.</text>
					</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID3EDF7D5DFABC4F7EBEEE14C00096A84C"><enum>(b)</enum><header display-inline="yes-display-inline">Other contributions</header>
					<paragraph commented="no" display-inline="no-display-inline" id="IDB9BCDF7FAA15432E8F8F37254B2422F2"><enum>(1)</enum><header display-inline="yes-display-inline">Equipment</header><text display-inline="yes-display-inline">Equipment donations to facilities that are
			 not owned or operated by the members of the eligible entity involved and that
			 are shared by the members may be included in determining compliance with
			 subsection (a).</text>
					</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDE6E7024B6F20497C92FEE504635DEDBB"><enum>(2)</enum><header display-inline="yes-display-inline">Limitation</header>
						<subparagraph commented="no" display-inline="no-display-inline" id="idBE8270D9B0B14B0D9BB57E0C8955F95B"><enum>(A)</enum><header display-inline="yes-display-inline">In general</header><text display-inline="yes-display-inline">An eligible entity may not include in-kind
			 contributions in complying with the requirement of subsection (a).</text>
						</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id9CD033A48C9B4D3C9841CBE8477823D4"><enum>(B)</enum><header display-inline="yes-display-inline">Consideration</header><text display-inline="yes-display-inline">The Secretary may consider donations
			 described in subparagraph (A) in ranking applications.</text>
						</subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID8CF42CB9AE7C42EE92B4B782DB1000AA" section-type="subsequent-section"><enum>305.</enum><header display-inline="yes-display-inline">Limit on administrative
			 expenses</header><text display-inline="no-display-inline">The Secretary may use
			 not more than 5 percent of the amounts made available to carry out this title
			 to pay the Federal administrative costs associated with awarding grants under
			 this title.</text>
			</section><section commented="no" display-inline="no-display-inline" id="ID49DECBE441FB44B195ED125210C5C51F" section-type="subsequent-section"><enum>306.</enum><header display-inline="yes-display-inline">Authorization of
			 appropriations</header><text display-inline="no-display-inline">There are
			 authorized to be appropriated to carry out this title—</text>
				<paragraph commented="no" display-inline="no-display-inline" id="idBE4F9A20EA034891BAA37F43E0A9B2D3"><enum>(1)</enum><text display-inline="yes-display-inline">$50,000,000 for each of fiscal years 2012
			 through 2016; and</text>
				</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idBFBD776424204968AB2AA2DCE5D5DF30"><enum>(2)</enum><text display-inline="yes-display-inline">such sums as are necessary for each fiscal
			 year thereafter.</text>
				</paragraph></section></title><title commented="no" id="idD87A238E1BE945D7A0A0C3025029B787" level-type="subsequent"><enum>IV</enum><header display-inline="yes-display-inline">Federal investment to expand broadband
			 access</header>
			<section id="idECB6F4E892164E909D75A54DFBF78264"><enum>401.</enum><header>Additional
			 authorization of appropriations to extend access to broadband
			 telecommunications services in rural areas</header><text display-inline="no-display-inline">Section 601(k)(1) of the Rural
			 Electrification Act of 1936 (7 U.S.C. 950bb) is amended by striking
			 <quote>2012</quote> and inserting <quote>2017</quote>.</text>
			</section></title><title commented="no" id="id5A78D310B7B646E6A52947FCBB617D21" level-type="subsequent"><enum>V</enum><header display-inline="yes-display-inline">Build America Bonds to create jobs
			 now</header>
			<section id="HFEC282992D514A9DB8D3B3EDE8BDBAC8" section-type="subsequent-section"><enum>501.</enum><header>Short
			 title</header><text display-inline="no-display-inline">This title may be cited
			 as the <quote><short-title>Build America Bonds to Create
			 Jobs Now Act of 2011</short-title></quote>.</text>
			</section><section id="H19090851F1364D6A900E6DF24DEE4621"><enum>502.</enum><header>Extension of
			 Build America Bonds</header>
				<subsection id="HCA844F6F0BB5434EBA49DE68860E0DCB"><enum>(a)</enum><header>In
			 general</header><text display-inline="yes-display-inline">Subparagraph (B) of
			 section 54AA(d)(1) of the Internal Revenue Code of 1986 is amended by inserting
			 <quote>or during the period beginning on the date of the enactment of the
			 <short-title>Build America Bonds to Create Jobs Now Act of
			 2011</short-title> and ending on December 31, 2012,</quote> after
			 <quote>January 1, 2011,</quote>.</text>
				</subsection><subsection id="H65BAE59FB5254794B4F8FC08F498BEB7"><enum>(b)</enum><header>Extension of
			 payments to issuers</header>
					<paragraph id="H2FC05FD8600141D89F8C49A20C9A3476"><enum>(1)</enum><header>In
			 general</header><text display-inline="yes-display-inline">Section 6431 of the
			 Internal Revenue Code of 1986 is amended—</text>
						<subparagraph id="HFE9675F504204B93BD053ED7FB02B8D8"><enum>(A)</enum><text display-inline="yes-display-inline">by inserting <quote>or during the period
			 beginning on the date of the enactment of the <short-title>Build America Bonds to Create Jobs Now Act of
			 2011</short-title> and ending on December 31, 2012,</quote> after
			 <quote>January 1, 2011,</quote> in subsection (a), and</text>
						</subparagraph><subparagraph id="HB3AC7976AB9D4F69861DECA685DC5C5E"><enum>(B)</enum><text>by striking
			 <quote>before January 1, 2011</quote> in subsection (f)(1)(B) and inserting
			 <quote>during a particular period</quote>.</text>
						</subparagraph></paragraph><paragraph id="HE57999C1A507433E8A51D91B1FF04985"><enum>(2)</enum><header>Conforming
			 amendments</header><text>Subsection (g) of section 54AA of such Code is
			 amended—</text>
						<subparagraph id="H0AC0C4BBF00941C6A421B9188C5897EB"><enum>(A)</enum><text display-inline="yes-display-inline">by inserting <quote>or during the period
			 beginning on the date of the enactment of the <short-title>Build America Bonds to Create Jobs Now Act of
			 2011</short-title> and ending on December 31, 2012,</quote> after
			 <quote>January 1, 2011,</quote>, and</text>
						</subparagraph><subparagraph id="HD59BE179E8114BD2AB3439C67D2ADE8F"><enum>(B)</enum><text>by striking
			 <quote><header-in-text level="subsection" style="OLC">qualified bonds issued
			 before 2011</header-in-text></quote> in the heading and inserting
			 <quote><header-in-text level="subsection" style="OLC">certain qualified
			 bonds</header-in-text></quote>.</text>
						</subparagraph></paragraph></subsection><subsection id="H5D2171568BD54B3B9411E69E3F41DAED"><enum>(c)</enum><header>Reduction in
			 percentage of payments to issuers</header><text>Subsection (b) of section 6431
			 of the Internal Revenue Code of 1986 is amended—</text>
					<paragraph id="H16B5763FAD034685BDDB12B13385EE5C"><enum>(1)</enum><text>by striking
			 <quote>The Secretary</quote> and inserting the following:</text>
						<quoted-block display-inline="no-display-inline" id="H85985413C2F344B98C254A19E5B19281" style="OLC">
							<paragraph id="HF4D7CA4367CB4EFCAD3E4FBC7B469F65"><enum>(1)</enum><header>In
				general</header><text display-inline="yes-display-inline">The
				Secretary</text>
							</paragraph><after-quoted-block>,</after-quoted-block></quoted-block>
					</paragraph><paragraph id="H463A7F11C9C8449BBB71EA9A51F36C5A"><enum>(2)</enum><text>by striking
			 <quote>35 percent</quote> and inserting <quote>the applicable
			 percentage</quote>, and</text>
					</paragraph><paragraph id="H73D1EF36AEE34808A07A1FFCD6D81D2F"><enum>(3)</enum><text>by adding at the
			 end the following new paragraph:</text>
						<quoted-block display-inline="no-display-inline" id="H803A3370CCEB406ABC092C993DC20815" style="OLC">
							<paragraph id="H1A565312F2864F42AB64FDB482F07E95"><enum>(2)</enum><header>Applicable
				percentage</header><text display-inline="yes-display-inline">For purposes of
				this subsection, the term <quote>applicable percentage</quote> means the
				percentage determined in accordance with the following table:</text>
								<table align-to-level="section" blank-lines-before="1" colsep="1" frame="topbot" line-rules="hor-ver" rowsep="0" rule-weights="4.4.4.0.0.0" table-template-name="Generic: 2 text, 1st longer" table-type="">
									<tgroup cols="2" grid-typeface="1.1" no-carding="1" rowsep="0" thead-tbody-ldg-size="10.10.12"><colspec coldef="txt" colname="column1" colwidth="217pts" min-data-value="200" rowsep="0"></colspec><colspec coldef="txt-no-ldr" colname="column2" colsep="1" colwidth="108pts" min-data-value="100"></colspec>
										<thead>
											<row><entry align="center" colname="column1" morerows="0" namest="column1" rowsep="1">In the case of a qualified bond issued during
						calendar year:</entry><entry align="center" colname="column2" morerows="0" namest="column2" rowsep="1">The applicable percentage is:</entry>
											</row>
										</thead>
										<tbody>
											<row><entry align="left" colname="column1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2009 or 2010</entry><entry align="left" colname="column2" leader-modify="clr-ldr" rowsep="0">35 percent</entry>
											</row>
											<row><entry align="left" colname="column1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2011</entry><entry align="left" colname="column2" leader-modify="clr-ldr" rowsep="0">32 percent</entry>
											</row>
											<row><entry align="left" colname="column1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2012</entry><entry align="left" colname="column2" leader-modify="clr-ldr" rowsep="0">31 percent.</entry>
											</row>
										</tbody>
									</tgroup></table>
							</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
					</paragraph></subsection><subsection id="H4212D153D05946FEBF5466F02B92F933"><enum>(d)</enum><header>Current
			 refundings permitted</header><text>Subsection (g) of section 54AA of the
			 Internal Revenue Code of 1986 is amended by adding at the end the following new
			 paragraph:</text>
					<quoted-block display-inline="no-display-inline" id="H0B96EF4146614A17BC201329C4EB9461" style="OLC">
						<paragraph id="H02538B43C6EC48C8B4D47D2BD49317BD"><enum>(3)</enum><header>Treatment of
				current refunding bonds</header>
							<subparagraph id="H63248FD105B4417988D8625AF284AF49"><enum>(A)</enum><header>In
				general</header><text>For purposes of this subsection, the term
				<quote>qualified bond</quote> includes any bond (or series of bonds) issued to
				refund a qualified bond if—</text>
								<clause id="HA12904E05C034D3A811C42A8DE5A0884"><enum>(i)</enum><text display-inline="yes-display-inline">the average maturity date of the issue of
				which the refunding bond is a part is not later than the average maturity date
				of the bonds to be refunded by such issue,</text>
								</clause><clause id="H45EEA1A587884E1BBBFD84EE0EB73890"><enum>(ii)</enum><text>the amount of the
				refunding bond does not exceed the outstanding amount of the refunded bond,
				and</text>
								</clause><clause id="HA3488A744B9E444F8864A0C7C1F8C0A3"><enum>(iii)</enum><text>the refunded
				bond is redeemed not later than 90 days after the date of the issuance of the
				refunding bond.</text>
								</clause></subparagraph><subparagraph id="H6495CCD2EE7C4EF492811F32A9BD348D"><enum>(B)</enum><header>Applicable
				percentage</header><text>In the case of a refunding bond referred to in
				subparagraph (A), the applicable percentage with respect to such bond under
				section 6431(b) shall be the lowest percentage specified in paragraph (2) of
				such section.</text>
							</subparagraph><subparagraph id="HB8A523BEB9774354ADA3DB14D861082E"><enum>(C)</enum><header>Determination of
				average maturity</header><text>For purposes of subparagraph (A)(i), average
				maturity shall be determined in accordance with section
				147(b)(2)(A).</text>
							</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
				</subsection><subsection commented="no" display-inline="no-display-inline" id="HB3A8C5252BEC449FAEEECA19D3B7CFB7"><enum>(e)</enum><header>Clarification
			 related to levees and flood control projects</header><text display-inline="yes-display-inline">Subparagraph (A) of section 54AA(g)(2) of
			 the Internal Revenue Code of 1986 is amended by inserting <quote>(including
			 capital expenditures for levees and other flood control projects)</quote> after
			 <quote>capital expenditures</quote>.</text>
				</subsection></section></title></legis-body>
</bill>
