[Congressional Record Volume 161, Number 118 (Sunday, July 26, 2015)]
[Senate]
[Pages S5722-S5723]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 2381. Mr. CORNYN submitted an amendment intended to be proposed by
him to the bill H.R. 22, to amend the Internal Revenue Code of 1986 to
exempt employees with health coverage under TRICARE or the Veterans
Administration from being taken into account for purposes of
determining the employers to which the employer mandate applies under
the Patient Protection and Affordable Care Act; which was ordered to
lie on the table; as follows:
On page 14, strike lines 11 and 12 and insert the
following:
title 23, United States Code--
(A) $550,000,000 for fiscal year 2016;
(B) $600,000,000 for fiscal year 2017;
(C) $650,000,000 for fiscal year 2018;
(D) $700,000,000 for each of fiscal years 2019, 2020, and
2021.
On page 17, strike lines 1 through 10 and insert the
following:
(b) Assistance for Major Projects Program.--There are
authorized to be appropriated out of the general fund of the
Treasury to carry out the assistance for major projects
program under section 171 of title 23, United States Code--
(1) $250,000,000 for fiscal year 2016;
(2) $300,000,000 for fiscal year 2017;
(3) $350,000,000 for fiscal year 2018;
(4) $400,000,000 for fiscal year 2019;
(5) $400,000,000 for fiscal year 2020; and
(6) $400,000,000 for fiscal year 2021.
On page 17, line 11, strike ``(b)'' and insert ``(c)''.
On page 19, line 13, strike ``(c)'' and insert ``(d)''.
On page 24, line 21, strike ``(d)'' and insert ``(e)''.
On page 215, strike lines 7 through 13 and insert the
following:
(6) by striking paragraph (15) and inserting the following:
``(15) Rural infrastructure project.--
``(A) In general.--The term `rural infrastructure project'
means a surface transportation infrastructure project located
in an area that is outside of an urbanized area with a
population greater than 150,000 individuals, as determined by
the Bureau of the Census.
``(B) Inclusions.--The term `rural infrastructure project'
includes--
``(i) the portion of a project--
``(I) that lies both within and outside of the urbanized
area described in subparagraph (A); and
[[Page S5723]]
``(II) for which not more than 50 percent of the estimated
eligible project costs are attributable to the portion
outside of the urbanized area described in subparagraph (A);
and
``(ii) a project--
``(I) that lies both within and outside of the urbanized
area described in subparagraph (A); and
``(II) for which more than 50 percent of the estimated
eligible project costs are attributable to the portion
outside of the urbanized area described in subparagraph
(A).'';
On page 216, strike lines 19 and 20 and insert the
following:
(B) in paragraph (2)--
(i) in subparagraph (A)--
(I) in the matter preceding clause (i), by striking ``this
chapter'' and inserting ``the TIFIA program'';
(II) by striking clause (ii) and inserting the following:
``(ii) adequate coverage requirements to ensure repayment,
which shall--
``(I) be defined by the Secretary using an average ratio of
net revenues to TIFIA debt service credit assistance; and
``(II) include separate adequate coverage requirements, as
defined by the Secretary, if the Federal credit instrument
is--
``(aa) the senior debt; or
``(bb) subordinate debt.''; and
(III) in clause (iv), by striking ``$75,000,000'' and
inserting ``$150,000,000''; and
(ii) in subparagraph (B), by striking ``$75,000,000'' and
inserting ``$150,000,000'';
On page 219, between lines 2 and 3, insert the following:
(E) by striking paragraph (8) and inserting the following:
``(8) Letters of interest and applications where obligor
will be identified later.--A State, local government, agency
or instrumentality of a State or local government, or public
authority may submit to the Secretary a letter of interest
under paragraph (1) or an application under paragraph (4),
under which a private party to a public-private partnership
will be--
``(A) the obligor; and
``(B) identified later through completion of a procurement
and selection of the private party.'';
On page 219, line 3, strike ``(E)'' and insert ``(F)''.
On page 219, strike lines 7 through 18 and insert the
following:
(G) by striking paragraph (10) and inserting the following:
``(10) Project readiness.--
``(A) In general.--Except as provided in subparagraph (B),
to be eligible for assistance under the TIFIA program, the
applicant shall demonstrate that the public agency process
for contracting for project construction or major equipment
acquisition--
``(i) commenced prior to the application for credit
assistance; and
``(ii) is continuing or completed.
On page 220, strike lines 8 and 9 and insert the following:
(2) in subsection (b)--
(A) in paragraph (1), by inserting ``letter of interest
and'' before ``application process''; and
(B) by striking paragraph (2) and inserting the following:
On page 221, line 3, strike ``and'' at the end.
On page 221, strike lines 4 and 5 and insert the following:
(4) by striking subsection (d) and inserting the following:
``(d) Letter of Interest and Application Processing
Procedures.--
``(1) Letter of interest.--
``(A) In general.--A letter of interest shall provide the
Secretary with sufficient information to determine actual
satisfaction of the eligibility requirements other than
creditworthiness, and a reasonable expectation of
creditworthiness, and the Secretary shall not require any
other information other than the information described in
section 601(a).
``(B) Due diligence materials.--
``(i) In general.--An applicant shall submit--
``(I) a letter of interest; and
``(II) a preliminary rating opinion letter, a working
financial model, and a traffic and revenue study, if
applicable.
``(ii) Materials not submitted.--If an applicant does not
submit the items described in clause (i)(II), the Secretary
may--
``(I) require that the applicant submit those items in
order to establish a reasonable expectation of
creditworthiness; or
``(II) defer receipt and evaluation of those items to the
application stage.
``(C) Notice of complete letter of interest.--Not later
than 30 days after the date on which the Secretary receives a
letter of interest under subparagraph (B), the Secretary
shall provide to the applicant a written notice that states
whether--
``(i) the letter of interest is complete; or
``(ii) additional information or materials are needed to
complete the eligibility determination, including
identification of the additional information or materials
requested.
``(2) Response to letter of interest.--Not later than 60
days after the date on which, in the determination of the
Secretary, all items required under subparagraph (B) have
been received, the Secretary shall provide to the applicant a
written notice that states that--
``(A)(i) the project is eligible or reasonably expected to
meet eligibility requirements; and
``(ii) the applicant has the opportunity to submit an
application; or
``(B) the project is ineligible, and identifies weaknesses
and clarifications that should be addressed in a future
application.''.
(5) in subsection (e), by striking ``this chapter'' and
inserting ``the TIFIA program''; and
(6) by adding at the end the following:
``(f) Traffic and Revenue Studies.--The Secretary shall
issue guidance on practices and standards for traffic and
revenue studies acceptable for determining creditworthiness
of the Federal credit instrument secured by toll revenues,
including for managed lane projects.''.
On page 225, line 12, strike ``and'' at the end.
On page 225, between lines 12 and 13, insert the following:
(C) in paragraph (4), by adding at the end the following:
``(D) Limitations.--
``(i) Eligible uses.--To the maximum extent practicable,
the Secretary shall use amounts made available under this
paragraph to obligate funds for eligible purposes.
``(ii) Limitations.--The Secretary may not carry out a
redistribution under this paragraph--
``(I) for any fiscal year in which such redistribution
would adversely impact the receipt of credit assistance by a
qualified project within such fiscal year; or
``(II) if the budget authority determined to be necessary
to cover all requests for credit assistance pending before
the Department of Transportation on April 1 would reduce the
uncommitted balance of funds below the threshold established
in subparagraph (A).''; and
On page 225, line 13, strike ``(C)'' and insert ``(D)''.
On page 225, strike lines 15 through 18 and insert the
following:
(h) Reports to Congress.--Section 609 of title 23, United
States Code, is amended--
(1) by striking ``this chapter (other than section 610)''
each place it appears and inserting ``the TIFIA program'';
(2) in subsection (b)--
(A) in paragraph (1), by striking ``from project
sponsors''; and
(B) in paragraph (2), in each of clauses (ii) and (iii), by
inserting ``letter of interest or'' before ``application''
each place it appears; and
(3) by adding at the end the following:
``(c) Monthly Status Reports.--
``(1) In general.--On a monthly basis, the Secretary shall
publish on the website for the TIFIA program a current status
report on all letters of interest and applications received
for assistance under the TIFIA program.
``(2) Inclusions.--Each status report under paragraph (1)
shall include, at a minimum, with respect to each project
included in the status report--
``(A) the name of the party submitting the letter of
interest or application;
``(B) the name of the project;
``(C) the date the letter of interest or application was
received;
``(D) the estimated project eligible costs;
``(E) the type of credit assistance sought;
``(F) the amount of assistance sought;
``(G) the anticipated fiscal year and quarter for closing
of the credit assistance;
``(H) the expected sources of funds to be pledged to repay
the credit assistance;
``(I) the subsidy amount or, if not yet known, the
estimated subsidy amount;
``(J) the status of the credit assistance (eligibility
review, credit review, application review, negotiation,
closing);
``(K) a description of Credit Council actions, if any;
``(L) a copy of the letter of interest and application;
``(M) a copy of the preliminary term sheet and final term
sheet; and
``(N) a copy of any executed Federal credit instruments.''.
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