[Congressional Record Volume 145, Number 141 (Monday, October 18, 1999)]
[Senate]
[Page S12784]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. CLELAND:
  S. 1743. A bill to amend the Transportation Equity Act for the 21st 
Century to authorize the State of Georgia to participate in the State 
infrastructure bank pilot program; to the Committee on Environment and 
Public Works.


          state infrastructure bank pilot program legislation

  Mr. CLELAND. Mr. President, I rise today to introduce legislation 
which would allow my home state of Georgia to participate in the State 
Infrastructure Bank (SIB) program. Prior to the enactment of the 
Transportation Equity Act for the 21st Century (TEA-21) all 50 states 
were eligible for SIB revolving funds, which are capitalized with 
federal and state contributions and used to provide loans and other 
forms of non-grant assistance to transportation projects. TEA-21, 
however, limited an enhanced SIB program to four states (California, 
Florida, Missouri, Rhode Island). My bill would add Georgia as a fifth 
state for participation in the SIB program.
  Georgia and Metro Atlanta, I believe, can be a national model on how 
to meet clean air standards and manage suburban sprawl without 
compromising economic growth. Governor Roy Barnes and the Georgia 
General Assembly deserve a great deal of credit for grabbing the bull 
by the horns when they enacted historic legislation creating the 
Georgia Regional Transportation Authority (GRTA). GRTA will work with 
other state agencies and organizations to solve the traffic, pollution, 
and sprawl problems that plague Metro Atlanta.
  In order to carry out its legislative charge in conjunction with the 
Georgia Department of Transportation (GDOT), the Metropolitan Atlanta 
Rapid Transit Authority (MARTA), the Atlanta Regional Commission (ARC), 
and other transportation agencies, GRTA will need sufficient financial 
resources to become a regional authority with teeth. To assist in 
procurement of these resources, the legislation I am introducing today 
would extend the State Infrastructure Bank program to include Georgia. 
I believe that this program can be a vital component in funding such 
important projects as the multi-state high speed rail corridor.
  The SIB program authorizes loans to a public or private entity to 
cover the partial or complete cost of an approved project, and it 
allows for innovative planning and development of funding streams for 
repayment, which does not begin until five years after the completion 
of the project. Additionally, TEA-21 allows for the creation of a 
multistate infrastructure bank system among the pilot states. In so 
doing, states would be encouraged to share not only funds but also 
ideas for combating pollution and traffic problems and encouraging 
alternative forms of transportation. Georgia would be a perfect 
addition to this mix.
  Georgia can be a model for the nation--an example for other states 
that are facing similar problems of balancing growth and livability. 
Georgia's participation in the SIB program would provide more options 
to fund the solutions that will allow the proper balance to be struck. 
GRTA, GDOT and the other transportation entities in Georgia have 
expressed to me their enthusiasm over the possibilities that are 
presented by Georgia's participation in the SIB program. I hope that my 
Senate colleagues will join with me in support of this legislation 
which will allow Georgia to participate in the SIB program and in doing 
so it will illustrate to the country the full potential of this 
program.
  I ask unanimous consent that the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1743

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

     SECTION 1. STATE INFRASTRUCTURE BANK PILOT PROGRAM.

       Section 1511(b)(1)(A) of the Transportation Equity Act for 
     the 21st Century (23 U.S.C. 181 note; 112 Stat. 251) is 
     amended by inserting ``Georgia,'' after ``Florida''.
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