[Congressional Record Volume 159, Number 87 (Tuesday, June 18, 2013)]
[Senate]
[Pages S4587-S4589]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
By Mrs. FEINSTEIN:
S. 1175. A bill to require the Secretary of the Treasury to establish
a program to provide loans and loan guarantees to enable eligible
public entities to acquire interests in real property that are in
compliance with habitat conservation plans approved by the Secretary of
the Interior under the Endangered Species Act of 1973, and for other
purposes; to the Committee on Environment and Public Works.
Mrs. FEINSTEIN. Mr. President, I rise today to introduce the
Infrastructure Facilitation and Habitat Conservation Act of 2013.
This legislation will make it easier for communities across the
Nation to improve their public infrastructure by providing access to
cost-effective Federal loan guarantees to mitigate the impacts of
growth on the environment and endangered species.
This bill authorizes a 10-year pilot program, to be administered
jointly by the Secretaries of the Interior and Treasury, making credit
more readily available to eligible public entities which are sponsors
of Habitat Conservation Plans, HCPs, under section 10 of the Endangered
Species Act of 1973.
Habitat Conservation Plans were authorized by an amendment to the
Endangered Species Act in 1982 as a means to permanently protect the
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habitat of threatened and endangered species, while facilitating the
development of infrastructure, through issuance of a long-term
``incidental take permit''.
Equally important, HCPs can be very effective in avoiding, minimizing
and mitigating the effects of development on endangered species and
their habitats. HCPs are an essential tool, as Congress intended, in
balancing the requirements of the Endangered Species Act with on-going
construction and development activity.
In California, the Western Riverside County multiple-species HCP is a
prime example of effective habitat management. The Western Riverside
MSHCP covers an area of 1.26 million acres, of which 500,000 will be
permanently protected for the benefit of 146 species of plants and
animals. To date, more than 347,000 acres of public land and 45,000
acres of private land have been protected, at a cost of $420 million.
In the case of the Western Riverside MSHCP, as with other HCPs
nationwide, this strategy for advance mitigation of environmental
impacts has facilitated the development of much-needed transportation
infrastructure. To date, the Western Riverside MSHCP has resulted in
expedited environmental approval of 25 transportation infrastructure
projects, which have contributed 32,411 jobs and $2.2 billion to the
county's economy.
Riverside has been one of the Nation's fastest growing counties, with
a rate of growth during the last decade of 42 percent. Unless the
development of infrastructure can be made to keep pace with this
explosive population growth, neither environmental or livability goals
will be attained.
In recent years, the economic downturn has slowed the pace of habitat
acquisition in Western Riverside and other similarly-situated
communities. Revenue which had been generated by development fees to
finance acquisition of habitat has also slowed.
Now, ironically, signs of economic recovery in the region also signal
increasing real estate prices that will make the acquisition of
mitigation lands more challenging. That's why it is important to
provide communities like Western Riverside ready access to capital now
to help fund habitat conservation projects while real estate costs
remain relatively low, saving them and other communities implementing
HCP's billions of dollars.
Under this bill, loan guarantee applicants would have to demonstrate
their credit-worthiness and the likely success of their habitat
acquisition programs. Priority would be given to HCPs in biologically
rich regions whose natural attributes are threatened by rapid
development. Other than the modest costs of administration, the bill
would entail no federal expenditure unless the local government
defaulted--a very rare occurrence.
These Federal guarantees will assure access to commercial credit at
reduced rates of interest, enabling participating communities to take
advantage of temporarily low prices for habitat. Prompt enactment of
this legislation will provide multiple benefits at very low cost to the
Federal taxpayer: protection of more habitat more quickly, accelerated
development of infrastructure with minimum environmental impact, and
reduction in the total cost of HCP land acquisition.
A broad coalition of conservation organizations and infrastructure
developers supports this legislation. In fact, the Senate also
expressed support for this concept when it approved a similar, albeit
more narrowly defined innovative financing program as part of the Water
Resources Development Act, WRDA, last month. But where the WRDA
provisions would be applicable to mitigate the environmental impacts
related to the development of water infrastructure, this legislation
would broaden that eligibility to transportation and other public
infrastructure.
I urge my colleagues to support this legislation. I believe it will
encourage infrastructure development and habitat conservation at
minimal Federal risk. It is exactly the kind of partnership with local
government that should be utilized to maximize efficient use of Federal
dollars.
Mr. President, I ask unanimous consent that the text of the bill be
printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 1175
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Infrastructure Facilitation
and Habitat Conservation Act of 2013''.
SEC. 2. CONSERVATION LOAN AND LOAN GUARANTEE PROGRAM.
(a) Definitions.--In this section:
(1) Eligible public entity.--The term ``eligible public
entity'' means a political subdivision of a State,
including--
(A) a duly established town, township, or county;
(B) an entity established for the purpose of regional
governance;
(C) a special purpose entity; and
(D) a joint powers authority, or other entity certified by
the Governor of a State, to have authority to implement a
habitat conservation plan pursuant to section 10(a) of the
Endangered Species Act of 1973 (16 U.S.C. 1539(a)).
(2) Program.--The term ``program'' means the conservation
loan and loan guarantee program established by the Secretary
under subsection (b)(1).
(3) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
(b) Loan and Loan Guarantee Program.--
(1) Establishment.--As soon as practicable after the date
of enactment of this Act, the Secretary shall establish a
program to provide loans and loan guarantees to eligible
public entities to enable eligible public entities to acquire
interests in real property that are acquired pursuant to
habitat conservation plans approved by the Secretary of the
Interior under section 10 of the Endangered Species Act of
1973 (16 U.S.C. 1539).
(2) Application; approval process.--
(A) Application.--
(i) In general.--To be eligible to receive a loan or loan
guarantee under the program, an eligible public entity shall
submit to the Secretary an application at such time, in such
form and manner, and including such information as the
Secretary may require.
(ii) Solicitation of applications.--Not less frequently
than once per calendar year, the Secretary shall solicit from
eligible public entities applications for loans and loan
guarantees in accordance with this section.
(B) Approval process.--
(i) Submission of applications to secretary of the
interior.--As soon as practicable after the date on which the
Secretary receives an application under subparagraph (A), the
Secretary shall submit the application to the Secretary of
the Interior for review.
(ii) Review by secretary of the interior.--
(I) Review.--As soon as practicable after the date of
receipt of an application by the Secretary under clause (i),
the Secretary of the Interior shall conduct a review of the
application to determine whether--
(aa) the eligible public entity is implementing a habitat
conservation plan that has been approved by the Secretary of
the Interior under section 10 of the Endangered Species Act
of 1973 (16 U.S.C. 1539);
(bb) the habitat acquisition program of the eligible public
entity would very likely be completed; and
(cc) the eligible public entity has adopted a complementary
plan for sustainable infrastructure development that provides
for the mitigation of environmental impacts.
(II) Report to secretary.--Not later than 60 days after the
date on which the Secretary of the Interior receives an
application under subclause (I), the Secretary of the
Interior shall submit to the Secretary a report that
contains--
(aa) an assessment of each factor described in subclause
(I); and
(bb) a recommendation regarding the approval or disapproval
of a loan or loan guarantee to the eligible public entity
that is the subject of the application.
(III) Consultation with secretary of commerce.--To the
extent that the Secretary of the Interior considers to be
appropriate to carry out this clause, the Secretary of the
Interior may consult with the Secretary of Commerce.
(iii) Approval by secretary.--
(I) In general.--Not later than 120 days after receipt of
an application under subparagraph (A), the Secretary shall
approve or disapprove the application.
(II) Factors.--In approving or disapproving an application
of an eligible public entity under subclause (I), the
Secretary may consider--
(aa) whether the financial plan of the eligible public
entity for habitat acquisition is sound and sustainable;
(bb) whether the eligible public entity has the ability to
repay a loan or meet the terms of a loan guarantee under the
program;
(cc) any factor that the Secretary determines to be
appropriate; and
(dd) the recommendation of the Secretary of the Interior.
(III) Preference.--In approving or disapproving
applications of eligible public entities under subclause (I),
the Secretary shall give preference to eligible public
entities located in biologically rich regions in which rapid
growth and development threaten successful implementation of
approved habitat conservation plans, as determined by the
Secretary in cooperation with the Secretary of the Interior.
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(C) Administration of loans and loan guarantees.--
(i) Report to secretary of the interior.--Not later than 60
days after the date on which the Secretary approves or
disapproves an application under subparagraph (B)(iii), the
Secretary shall submit to the Secretary of the Interior a
report that contains the decision of the Secretary to approve
or disapprove the application.
(ii) Duty of secretary.--As soon as practicable after the
date on which the Secretary approves an application under
subparagraph (B)(iii), the Secretary shall--
(I) establish the loan or loan guarantee with respect to
the eligible public entity that is the subject of the
application (including such terms and conditions as the
Secretary may prescribe); and
(II) carry out the administration of the loan or loan
guarantee.
(c) Authorization of Appropriations.--There are authorized
to be appropriated to the Secretary to carry out this section
such sums as are necessary.
(d) Termination of Authority.--The authority under this
section shall terminate on the date that is 10 years after
the date of enactment of this Act.
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