[Congressional Record Volume 166, Number 96 (Thursday, May 21, 2020)]
[Senate]
[Pages S2588-S2605]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS

      By Mrs. FEINSTEIN:
  S. 3811. A bill to provide financial assistance for projects to 
address certain subsidence impacts in the State of California, and for 
other purposes; to the Committee on Energy and Natural Resources.
  Mrs. FEINSTEIN. Mr. President, I rise to speak in support of the 
Restoration of Essential Conveyance Act, which I introduced today. 
Representatives TJ Cox and Jim Costa, both Democrats of California, 
have introduced companion legislation in the House.
  This legislation would help California water users and California's 
nation-leading agricultural industry comply with a recent State 
requirement to end the overpumping of groundwater. The stakes are huge: 
Bringing groundwater into balance will reduce the water supply of the 
San Joaquin Valley by about 2 million acre-feet per year.
  Unless local water agencies and the State and Federal governments 
take action, a recent U.C. Berkeley study has projected severe impacts 
from these water supply losses: 798,000 acres of land would have to be 
retired from agricultural production, nearly one-sixth of the working 
farmland in an area that produces half the fruit and vegetables grown 
in the Nation; and $5.9 billion would be lost in annual farm income.
  How the bill would help: One of the most cost-effective and efficient 
ways to restore groundwater balance is to convey floodwaters to 
farmlands where they can recharge the aquifer. California has the most 
variable precipitation of any State. When we get massive storms from 
atmospheric rivers, there is plenty of runoff to recharge aquifers--but 
only if we can effectively convey the floodwaters throughout the San 
Joaquin Valley to recharge areas.
  Here is where the challenge arises. For a variety of reasons, the 
ground beneath the major canals has dropped by as much as 10 to 20 feet 
which has caused canals designed to convey floodwaters to buckle and 
drop in many places. Other parts of the canals have not subsided, so 
the water gets stuck in the low points.
  As a result, these essential canals for conveying floodwaters have 
lost as much as 60 percent of their conveyance capacity. The bill I am 
introducing today would provide Federal assistance to help fix these 
Federal canals.
  Specifically, the bill would authorize $600 million in Federal 
funding-cost share for three major projects to repair Federal canals 
damaged by subsidence to achieve their lost capacity: $200 million for 
the Friant-Kern Canal, which would move an additional 100,000 acre-feet 
per year on average; $200 million for the Delta Mendota Canal, which 
would move an additional 62,000 acre-feet per year on average; and $200 
million for California Aqueduct repairs, which would move an additional 
205,000 acre-feet per year on average. While parts of the California 
Aqueduct are State-owned, the majority of the repairs are on its 
federally owned portion.
  The bill would also authorize $200 million in additional funding for 
the Environmental Restoration Goal of the San Joaquin River settlement. 
This provision will ensure that the bill helps to restore not only the 
San Joaquin Valley's water supply, but also its native salmon runs. I 
think it is appropriate that we consider legislation that would benefit 
both our water supply and the environment.
  Benefits of the bill: If the Federal Government covers a portion of 
the cost of restoring these three essential Federal canals for 
conveying floodwaters, it will give local farmers a fighting chance to 
bring their groundwater basins into balance without being forced to 
retire massive amounts of land.
  Critically, the ability to deliver floodwaters through restored 
Federal canals will allow the water districts to invest in their own 
turnouts, pumps, detention basins and other groundwater recharge 
projects. The South Valley Water Association, which covers just a small 
part of the Valley, provided my office with a list of 36 such projects 
for its area alone.
  The Public Policy Institute of California, or PPIC, has determined 
that groundwater recharge projects are the best option to help the San 
Joaquin Valley comply with the new state groundwater pumping law. PPIC 
projects that the Valley can make up 300,000 to 500,000 acre feet of 
its groundwater deficit through recharge projects.
  Job Losses if We Take No Action: A forthcoming study commissioned by 
the coalition group called the ``Water Blueprint for the San Joaquin 
Valley'' estimates that required reductions in groundwater could cause 
a loss of up to 42,000 farm and agricultural jobs in the San Joaquin 
Valley. Another 40,000 jobs or more could be lost statewide each year 
due to reductions in valley agricultural production, putting the total 
at approximately 85,000 jobs statewide. Most of these impacts will fall 
disproportionately on economically disadvantaged communities. These 
impacts will be significant unless we address them through 
collaborative planning, policies, infrastructure, recharge, and 
necessary financial support.
  Friant-Kern Canal: Let me now turn to the three critical canals that 
the bill would authorize assistance to restore. The Friant-Kern Canal 
is a key feature of the Friant Division of the Federal Central Valley 
Project on the Eastside of the San Joaquin Valley. For nearly 70 years, 
the Friant Division successfully kept groundwater tables stable on the 
Eastside. This provided a sustainable source of water for farms and for 
thousands of Californians

[[Page S2589]]

and more than 50 small, rural, or disadvantaged communities who rely 
entirely on groundwater for their household water supplies.
  But unsustainable groundwater pumping in the valley has reduced the 
Friant-Kern Canal's ability to deliver water to all who need it. Land 
elevation subsidence caused by over-pumping means that not all of the 
supplies stored at Friant Dam can be conveyed through the canal. In 
some areas, the canal can carry only 40 percent of what it is designed 
to deliver.
  In 2017, a very wet year in which we should have been banking as much 
flood water as possible, the Friant-Kern Canal couldn't deliver an 
additional 300,000 acre-feet of water that it would have been able to 
convey had its capacity not been limited by subsidence. This 
significant amount of water would have been destined for groundwater 
recharge efforts in the south San Joaquin Valley, where the impacts of 
reduced water deliveries, water quality issues and groundwater 
regulation are expected to be most severe.
  California Aqueduct and Delta Mendota Canal: The California Aqueduct 
serves more than 27 million people in Southern California and the 
Silicon Valley and more than 750,000 acres of the Nation's most 
productive farmland. But despite its name, much of the California 
Aqueduct is owned by the Federal Government and serves portions of 
Silicon Valley, small towns and communities in the northern San Joaquin 
Valley, and farms from Firebaugh to Kettleman City. The aqueduct 
represents a successful 70-year partnership between the Federal 
Government and the State of California.
  In recent years, particularly recent drought years, the California 
Aqueduct has subsided. It has lost as much as 20 percent of its 
capacity to move water to California's families, farms, and businesses. 
California is leading efforts to repair the aqueduct and is working to 
provide its share of funding, but the Federal Government will also need 
to pay its fair share. The bill I am introducing today would authorize 
$200 million toward restoring the California Aqueduct.
  The Delta-Mendota Canal stretches southward 117 miles from the C.W. 
Bill Jones Pumping Plant along the western edge of the San Joaquin 
Valley, parallel to the California Aqueduct. The Delta-Mendota Canal 
has lost 15 percent of its conveyance capacity due to subsidence. The 
bill I am introducing today would authorize $200 million toward 
restoring its full ability to convey floodwaters to farms needing to 
recharge their groundwater, and to wildlife refuges for migratory 
waterfowl.
  In conclusion, this bill responds to a potential crisis that very 
possibly could cause the forced retirement of nearly one-sixth of the 
working farmland in an area that produces half of America's fruits and 
vegetables.
  These are Federal canals, and the Federal Government must help give 
these farmers and communities reliant of the agricultural economy a 
fighting chance to keep their lands in production.
  I hope my colleagues will join me in support of this bill. I yield 
the floor.
                                 ______
                                 
      By Mr. RUBIO (for himself, Mr. Cardin, Ms. Collins, Mrs. Shaheen, 
        and Mr. Durbin):
  S. 3833. A bill to extend the loan forgiveness period for the 
paycheck protection program, and for other purposes; read the first 
time.
  Ms. COLLINS. Mr. President, I rise today to introduce, with my 
colleagues Senator Rubio, Cardin, and Shaheen, legislation to 
strengthen the Paycheck Protection Program, which has proven to be such 
an important lifeline to America's small businesses and their employees 
during this pandemic.
  Senators Rubio, Cardin, Shaheen, and I worked together as part of the 
Small Business Task Force to create this program during the development 
of the CARES Act 2 months ago.
  Since its launch in early April, this program has provided forgivable 
loans totaling more than $510 billion to approximately 4.3 million 
small employers across the country. The overwhelming majority of 
borrowers are very small employers.
  In phase 1 of the program, the average PPP loan size nationally was 
$206,000. That translates to an average employer size of just 18 
employees. As more loans have been approved in phase 2, the average 
loan size nationally has dropped to $118,000, suggesting an average 
business size of about 10 employees.
  In Maine, the average loan size is even smaller, with borrowers 
having an estimated 12 employees in phase 1 and just three employees in 
phase 2. According to the U.S. Census Bureau, nearly two-thirds of the 
small businesses in Maine have benefited from PPP loans, and that is, I 
am pleased to say, among the highest rates in the Nation.
  In many ways, it is not a surprise. Maine is the State of small 
businesses. Ninety percent of all the Maine businesses are considered 
to be small businesses, and they employ approximately 60 percent of all 
the workers in our State. Overall, in Maine, the funds are sufficient 
to support approximately 200,000 jobs.
  Let's think about this. That means that a business that is seeing 
receipts go down, is in a cash flow problem, liquidity has dried up can 
still retain employees who otherwise would have been laid off. In more 
cases, it has allowed a business to call back furloughed employees. And 
even in cases where the business has been forced to close its doors 
because of government orders, it has kept alive the connection between 
the employer and his or her employees. That is so important because, as 
the economy does open back up, we want to make sure that link between 
the employer and the employees remains intact so that the workforce can 
come back to work as soon as possible
  It is important, as we discuss the economic data behind the PPP, to 
remember that these are real businesses with real people--people like 
Larry Geaghan, who owns and runs a craft brewery and pub in Bangor, ME. 
Larry calls the PPP a ``lifeline bill'' that has made all the 
difference in helping him to bring back 25 of his employees and reopen 
for takeout business.
  Another Maine borrower--the owner of a small marina--told me that the 
PPP was exactly what he needed at exactly the right time. With the PPP, 
this marina has been able to keep all of its employees on payroll, and 
because they weren't worried about whether they would have a paycheck, 
these employees continued spending as they normally would--exactly what 
our Maine economy needs.
  Another example of a small business helped by the PPP is the Frog & 
Turtle Gastro Pub in Westbrook, ME. This pub just completed an 
extensive renovation and is hoping to reopen June 1, the first day that 
sit-down dining service will be allowed again in the State of Maine.
  The owner of this pub wrote to me to say that the ``PPP program 
allowed us to bring back our 15 employees and sustain our business 
during these trying conditions,'' and that taking a PPP loan was the 
``right decision'' for his employees and for his small restaurant.
  When we were initially developing the Paycheck Protection Program, we 
had no idea how long the pandemic would last. We did not know that 
there would be virtually universal economic shutdowns, nor did we know 
how each State would respond to outbreaks in their communities. The 
bipartisan bill that we are introducing today builds on the success of 
the PPP by providing small businesses with additional flexibility so 
that they can more effectively use these funds in conjunction with 
State reopening plans.
  And, again, I would remind my colleagues that when we were drafting 
the first version of this, it was before there were widespread orders 
shutting down restaurants and bars and retail establishments.
  Specifically, the Paycheck Protection Program Extension Act that we 
are introducing today would do the following: It would allow borrowers 
the flexibility to use their 8 weeks of funding at a point of their 
choosing within a 16-week period. Small businesses could choose the 
period that they believe works best to coincide with the reopening of 
their local economy.
  So some small businesses took the loans very early, thinking that the 
shutdowns would not last or that the pandemic would be on the way down 
by now, which it is in some States, thank goodness, but not in all.
  Well, this builds in more flexibility. You would have 16 weeks to use 
the loan funds instead of 8.

[[Page S2590]]

  Second, it extends the deadline to apply for a PPP loan from June 30 
to December 31 of this year.
  Again, this reflects the fact that shutdowns lasted far longer in 
virtually every State than we anticipated when we were drafting the 
bill in March.
  Third, the bill would allow borrowers to use loan funds to purchase 
personal protective equipment for employees and to pay for adaptive 
investments needed to reopen safely.
  Adaptive investments could include modifications to a commercial 
property to comply with the social distancing regulations or guidelines 
from the CDC. It could mean creating or expanding a drive-through 
window service, erected physical barriers such as we see at the grocery 
stores now, those plexiglass barriers or sneeze guards. It could mean 
installing ventilation system upgrades or, as many restaurants have 
mentioned to me, they would like to add an outside patio for outdoor 
eating, which would allow them to maintain the same number of 
customers, which they can't do now, and abide by the social distancing 
guidelines.
  The bill would also clarify that the current lender hold-harmless 
provision relates to all Small Business Administration and Treasury 
guidance regarding PPP loans. A lender that in good faith followed 
Federal guidance related to PPP would not be later held liable if the 
guidance subsequently changed.
  I would like to give a shout-out to our small community banks and 
credit unions in the State of Maine. They have really stepped up to the 
plate for this program to serve the small businesses, small employers 
in our State, for the small nonprofits, and that has made a real 
difference to the employees of these establishments.
  And finally, the bill would clarify that borrowers who have 
maintained payroll for 8 weeks will not lose loan forgiveness due to 
the extension of the program to 16 weeks.
  Now, I would hope that that would be obvious, but we wanted to make 
sure that we were explicit.
  The Paycheck Protection Program is the single most critical stimulus 
program protecting Main Street America from the economic devastation of 
the measures taken to control the spread of COVID-19. The bill we are 
introducing today strengthens the PPP to reflect the evolving nature of 
this pandemic, the necessity of regulatory actions that have caused a 
great deal of economic harm but were necessary to prevent the spread of 
the virus, and I urge all of my colleagues to support this bill
                                 ______
                                 
      By Mr. CRUZ:
  S. 3835. A bill to prohibit the use of funds for the production of 
films by United States companies that alter content for screening in 
the People's Republic of China, and for other purposes; to the 
Committee on Homeland Security and Governmental Affairs.
  Mr. CRUZ. Mr. President, I rise today to discuss the single most 
dangerous geopolitical threat that America faces now and through the 
next century--China.
  We are in the midst of a pandemic that has infected over 5 million 
people and has claimed the lives of over 300,000 people worldwide. In 
the United States alone, the pandemic has infected over 1.5 million 
people and has claimed over 93,000 lives.
  The coronavirus pandemic has shattered the lives of husbands and 
wives, daughters, sons, granddaughters, grandsons, brothers, sisters, 
nieces, nephews who have lost loved ones to COVID-19.
  It has also shattered the lives of those who have lost their jobs, 
their livelihoods, because of this disease.
  Thirty-eight million Americans are now out of work. The unemployment 
rate is at the highest it has ever been since the Great Depression, and 
entire industries are on the brink of collapse. Just 4 months ago, when 
the economy was booming, that was unthinkable.
  Where did this pandemic start? In China. Whether it began at the 
Huanan wet market, a barbaric breeding ground for disease, where snakes 
and turtles and puppies and kittens and bats and other wildlife and 
farm animals are killed and sold, or whether it began due to 
substandard safety protocols at the Wuhan Institute of Virology, where 
research into coronavirus was being conducted and specifically 
coronavirus from bats, we don't yet know.
  Here is what we do know: Not only did the coronavirus outbreak start 
in China, the Chinese Communist Government did everything it could to 
cover up the severity of the outbreak, from lying about the origin of 
the virus to how it is transmitted, to destroying evidence, to 
silencing the brave whistleblower doctors and scientists and 
journalists and activists who tried to warn the world and prevent a 
global pandemic.
  It has been reported recently that between January 1 and April 4, the 
Chinese Government charged 484 people with crimes because of comments 
they made about the coronavirus pandemic.
  In Wuhan, eight doctors who sounded the alarm about coronavirus in 
December were accused of spreading lies, arrested, and forced to sign 
documents claiming that they had made false statements that ``disturbed 
the public order.''
  In reality, they were telling the truth. They were warning us.
  One of those doctors, Dr. Ai Fen, has been missing since late March. 
Another, Dr. Li Wenliang, has since died from the coronavirus. Dr. Li 
Wenliang's wife was pregnant with the couple's second child when he 
died.
  And it is not just Chinese doctors who are paying the price for 
telling the truth; journalists and activists who courageously spoke up 
are disappearing too.
  Xu Zhangrun, a Chinese law professor who spoke out about the Chinese 
Government's handling of the coronavirus outbreak and criticized 
Chinese President Xi, has been missing since February.
  Chen Qiushi, a Chinese lawyer and journalist who went to Wuhan to 
report on what was happening there, has been missing since February 6. 
Fang Bin, a Wuhan businessman and journalist who reported on the number 
of bodies piling up outside a Wuhan hospital has been missing since 
February 9. Li Zehua, a journalist who quit his job as a broadcaster 
for the Chinese Communist Party's TV station so he could report on what 
was happening in Wuhan, went missing for 28 days and then was allowed 
to reappear in public only after he praised the government's policy. 
Ren Zhiqiang, a real estate tycoon, who had been publicly critical of 
President Xi's handling of the coronavirus crisis, has been missing 
since March 12. And Xu Zhiyong, a civil rights lawyer and a legal 
scholar who criticized President Xi on social media for his handling of 
the coronavirus crisis, has been on house arrest since February 13.
  If the Chinese Government had acted responsibly and sought the advice 
of public health professionals instead of silencing them, there is a 
very real possibility the coronavirus could have been contained as a 
regional outbreak. Instead, we are now dealing with a deadly global 
pandemic.
  These brave men and women are just the latest targets of the Chinese 
Communist Government's relentless attacks on truth-tellers, on freedom 
fighters, and on religious and ethnic minorities. The Chinese 
Government is a 1984-style dystopian state, and it has tracked and 
imprisoned millions of Uyghurs and other religious minorities. The 
Chinese Government is constantly tracking the movements of millions of 
people using cutting-edge biotechnology and artificial intelligence, 
and it has put 1 million Uyghurs, right now, into concentration camps.
  In 2017, I led a bipartisan resolution in this body condemning the 
Chinese Communist Party's persecution of religious minorities, 
particularly Buddhist Tibetans. Last year, I introduced legislation and 
urged the Trump administration to blacklist Chinese companies that are 
aiding the Chinese Government in its persecution of the Uyghurs. The 
administration implemented the recommendations in my legislation, and 
as a result those companies are now banned from acquiring American 
goods. That is a step in the right direction.
  We have known that China's surveillance state and censorship 
practices are a great threat to human rights, but what the pandemic has 
shown us is that China's surveillance state and censorship is also a 
great threat to our national security and to public health. Had those 
doctors, journalists, and activists who were trying to tell the

[[Page S2591]]

truth--desperately trying to warn the world--had they been allowed to 
speak, the coronavirus outbreak might have been stopped in its tracks. 
We may not have had to deal with this devastating pandemic that has 
claimed the lives and the livelihoods of men and women all over the 
world.
  That is why, today, I am introducing legislation to sanction Chinese 
officials who helped censor political speech or suppress the 
dissemination of medical information by citizens of China. This 
legislation would impose visa bans and asset blocks on those who punish 
or censor Chinese citizens for reporting accurate information about a 
disease or a pathogen and hopefully will help prevent something like 
this from ever happening again in China.
  We need to be vigilant and to act where we can to thwart the Chinese 
Government's attempts to twist the truth, to censor, and to silence 
within China, but we also need to be vigilant about the Chinese 
Government's attempts to censor and silence elsewhere, including in our 
own Nation.
  In the United States, the Chinese Government attempts to spread 
propaganda by two ways: by leveraging their enormous market access to 
coerce Americans into self-censorship, especially to Hollywood and 
sports teams that stand to make billions of dollars in China, and by 
simply purchasing access to our cultural and educational centers. With 
both levers, Chinese officials have one objective: to shape what 
Americans see, hear, and ultimately think.
  China has the world's second largest film market, second only the 
United States, and it does around $8 billion in box office revenues per 
year. The Chinese film market is comprised of Chinese films, but they 
also make sure to allow a few dozen American films into their market 
every year. The number is deliberately kept low, and in exchange for 
access, American film companies submit their films to China's censors 
who often force them to change those films. American companies have 
learned this fact, and they will often change the films even in advance 
of submitting.
  As a result, they control not just what audiences see in China but 
also what Americans see. The Chinese Government's censorship office 
seeks to edit anything to do with Tibet, with Taiwan, with Tiananmen 
Square, with human rights, with democracy, with religion, or with any 
criticism of communism, particularly the Chinese Communist Party. 
Recently, the Chinese Government has succeeded in forcing changes to 
movies such as ``Top Gun,'' the sequel; such as ``Doctor Strange''; 
such as ``Skyfall''; such as the remake of ``Red Dawn.'' ``Pixels,'' 
``Looper,'' ``Bohemian Rhapsody'' all were movies that were changed.
  In ``Bohemian Rhapsody,'' the Chinese Communist Party edited out 
references to the fact that Freddy Mercury was gay. In ``Doctor 
Strange,'' they changed the Ancient One's character from Tibetan, as 
portrayed in the comic book, to Celtic. And in the ``Top Gun'' sequel 
that is set to come out later this year, the Taiwanese and Japanese 
flag on the back of Maverick's jacket were removed to appease the 
Chinese Communist Party.
  Think about that for a second. What message does it send that 
``Maverick,'' an American icon, is apparently afraid of Chinese 
Communists. That is ridiculous.
  That is why, today, I am introducing the SCRIPT Act, which would cut 
off Hollywood studios from the assistance they receive from the U.S. 
Government if those films censor their films for screening in China. It 
is common practice for major Hollywood films to contract with the 
Pentagon to use jets and tanks and to film on bases and aircraft 
carriers.
  The SCRIPT Act should be a wake-up call for Hollywood. Studios would 
be forced to choose between the assistance from the Federal Government 
or the money they want from China.
  The second way the Chinese Government attempts to spread propaganda 
is by purchasing access to our cultural and educational centers. The 
Chinese Government spends billions of dollars to shape what the next 
generation of Americans know and think about China. They have a 
pervasive presence in our K-12 education and in our colleges and 
universities, especially through Confucius Institutes and by directly 
financing departments and centers.
  In the National Defense Authorization Act for Fiscal Year 2019, I 
authored bipartisan legislation prohibiting the Department of Defense 
from funding universities when the money could go to Confucius 
Institutes. As a result, over a dozen Confucius Institutes have closed.
  We need to stand up and deal directly with the threat China poses. 
China bears direct responsibility and direct culpability for the over 
300,000 people who have died worldwide and for the trillions in 
economic livelihoods that have been destroyed.
  Today, I introduce three pieces of legislation to directly address 
Chinese censorship and their responsibility for this pandemic, and we, 
as a body, as a bipartisan body, need to stand and stand strong 
protecting U.S. national security, protecting the lives of Americans, 
and ensuring accountability; that the Chinese Communist Party has 
accountability for their censorship, their hiding of the facts of this 
pandemic, and the lives that have been lost as a result of their 
coverup.
                                 ______
                                 
      By Mr. THUNE (for himself and Ms. Hassan):
  S. 3794. A bill to expedite transportation project delivery, 
facilitate infrastructure improvement, and for other purposes; to the 
Committee on Commerce, Science, and Transportation.
  Mr. THUNE. 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. 3794

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

     SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

       (a) Short Title.--This Act may be cited as the ``Railroad 
     Rehabilitation and Financing Innovation Act''.
       (b) Table of Contents.--The table of contents for this Act 
     is as follows:

Sec. 1. Short title; table of contents.
Sec. 2. Railroad Rehabilitation and Improvement Financing Program.
Sec. 3. Conforming amendments.
Sec. 4. Transitional and savings provisions.
Sec. 5. Repeals.

     SEC. 2. RAILROAD REHABILITATION AND IMPROVEMENT FINANCING 
                   PROGRAM.

       (a) Amendment to Title 49, United States Code.--Part B of 
     subtitle V of title 49, United States Code, is amended by 
     inserting after chapter 223 the following:

   ``CHAPTER 224--RAILROAD REHABILITATION AND IMPROVEMENT FINANCING 
                                PROGRAM

``22401. Definitions.
``22402. Direct loans and loan guarantees.
``22403. Administration of direct loans and loan guarantees.
``22404. Employee protection.
``22405. Substantive criteria and standards.
``22406. Funding.

     ``Sec. 22401. Definitions

       ``In this chapter:
       ``(1) Cost.--
       ``(A) In general.--The term `cost' means the estimated 
     long-term cost to the Government of a direct loan or loan 
     guarantee, or modification of the direct loan or loan 
     guarantee, calculated on a net present value basis, excluding 
     administrative costs and any incidental effects on 
     governmental receipts or outlays.
       ``(B) Cost of direct loans.--
       ``(i) In general.--The cost of a direct loan shall be the 
     net present value, at the time when the direct loan is 
     disbursed, of the following estimated cash flows:

       ``(I) Loan disbursements.
       ``(II) Repayments of principal.
       ``(III) Payments of interest and other payments by or to 
     the Government over the life of the loan.

       ``(ii) Calculation.--Calculation of the cost of a direct 
     loan shall include the effects of changes in loan terms 
     resulting from the exercise by the borrower of an option 
     included in the loan contract.
       ``(C) Cost of loan guarantee.--
       ``(i) In general.--The cost of a loan guarantee shall be 
     the net present value, at the time when the guaranteed loan 
     is disbursed, of the following estimated cash flows:

       ``(I) Payments by the Government to cover defaults and 
     delinquencies, interest subsidies, or other payments.
       ``(II) Payments to the Government, including origination 
     and other fees, penalties, and recoveries.

       ``(ii) Calculation.--Calculation of the cost of a loan 
     guarantee shall include the effects of changes in loan terms 
     resulting from the exercise by the guaranteed lender of an 
     option included in the loan guarantee, or by the borrower of 
     an option included in the guaranteed loan contract.
       ``(D) Cost of modification.--The cost of a modification is 
     the difference between the current estimate of the net 
     present value of the remaining cash flows under the terms of 
     a direct loan or loan guarantee contract, and the current 
     estimate of the net present value

[[Page S2592]]

     of the remaining cash flows under the terms of the contract, 
     as modified.
       ``(E) Estimation of net present values; discount rate.--In 
     estimating net present values, the discount rate shall be the 
     average interest rate on marketable Treasury securities of 
     similar maturity to the cash flows of the direct loan or loan 
     guarantee for which the estimate is being made.
       ``(F) Estimated cost; basis.--When funds are obligated for 
     a direct loan or loan guarantee, the estimated cost shall be 
     based on the current assumptions, adjusted to incorporate the 
     terms of the loan contract, for the fiscal year in which the 
     funds are obligated.
       ``(2) Current.--The term `current' has the same meaning 
     given the term in section 250(c)(9) of the Balanced Budget 
     and Emergency Deficit Control Act of 1985 (2 U.S.C. 
     900(c)(9)).
       ``(3) Direct loan.--
       ``(A) In general.--The term `direct loan' means a 
     disbursement of funds by the Government to a non-Federal 
     borrower under a contract that requires the repayment of the 
     funds.
       ``(B) Inclusions.--The term `direct loan' includes the 
     purchase of, or participation in, a loan made by another 
     lender and financing arrangements that defer payment for more 
     than 90 days, including the sale of a Government asset on 
     credit terms.
       ``(C) Exclusion.--The term `direct loan' does not include 
     the acquisition of a federally guaranteed loan in 
     satisfaction of default claims.
       ``(4) Direct loan obligation.--The term `direct loan 
     obligation' means a binding agreement by the Secretary to 
     make a direct loan when specified conditions are fulfilled by 
     the borrower.
       ``(5) Intermodal.--The term `intermodal' means of or 
     relating to the connection between rail service and other 
     modes of transportation, including all parts of facilities at 
     which the connection is made.
       ``(6) Investment-grade rating.--The term `investment-grade 
     rating' means a rating of BBB minus, Baa3, bbb minus, 
     BBB(low), or higher assigned by a rating agency.
       ``(7) Loan guarantee.--The term `loan guarantee' means any 
     guarantee, insurance, or other pledge with respect to the 
     payment of all or a part of the principal or interest on any 
     debt obligation of a non-Federal borrower to a non-Federal 
     lender, but does not include the insurance of deposits, 
     shares, or other withdrawable accounts in financial 
     institutions.
       ``(8) Loan guarantee commitment.--The term `loan guarantee 
     commitment' means a binding agreement by the Secretary to 
     make a loan guarantee when specified conditions are fulfilled 
     by the borrower, the lender, or any other party to the 
     guarantee agreement.
       ``(9) Master credit agreement.--The term `master credit 
     agreement' means an agreement to make 1 or more direct loans 
     or loan guarantees at future dates for a program of related 
     projects on terms acceptable to the Secretary.
       ``(10) Modification.--
       ``(A) In general.--The term `modification' means any 
     Government action that alters the estimated cost of an 
     outstanding direct loan (or direct loan obligation) or an 
     outstanding loan guarantee (or loan guarantee commitment) 
     from the current estimate of cash flows.
       ``(B) Inclusions.--The term `modification' includes--
       ``(i) the sale of loan assets, with or without recourse, 
     and the purchase of guaranteed loans; and
       ``(ii) any action resulting from new legislation, or from 
     the exercise of administrative discretion under existing law, 
     that directly or indirectly alters the estimated cost of 
     outstanding direct loans (or direct loan obligations) or loan 
     guarantee (or loan guarantee commitment), such as a change in 
     collection procedures.
       ``(11) Project obligation.--The term `project obligation' 
     means a note, bond, debenture, or other debt obligation 
     issued by a borrower in connection with the financing of a 
     project, other than a direct loan or loan guarantee under 
     this chapter.
       ``(12) Railroad.--The term `railroad' has the meaning given 
     the term `railroad carrier' in section 20102.
       ``(13) Rating agency.--The term `rating agency' means a 
     credit rating agency registered with the Securities and 
     Exchange Commission as a nationally recognized statistical 
     rating organization (as defined in section 3(a) of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78c(a))).
       ``(14) Secretary.--The term `Secretary' means the Secretary 
     of Transportation.
       ``(15) Substantial completion.--The term `substantial 
     completion' means--
       ``(A) the opening of a project to passenger or freight 
     traffic; or
       ``(B) a comparable event, as determined by the Secretary 
     and specified in the terms of the direct loan or loan 
     guarantee.

     ``Sec. 22402. Direct loans and loan guarantees

       ``(a) General Authority.--The Secretary shall provide 
     direct loans and loan guarantees--
       ``(1) to State and local governments;
       ``(2) to interstate compacts consented to by Congress under 
     section 410(a) of the Amtrak Reform and Accountability Act of 
     1997 (Public Law 105-134; 49 U.S.C. 24101 note);
       ``(3) to government-sponsored authorities and corporations;
       ``(4) to railroads;
       ``(5) to joint ventures that include at least 1 of the 
     entities described in paragraph (1), (2), (3), (4), or (6);
       ``(6) to private entities with controlling ownership in 1 
     or more freight railraods other than Class 1 carriers; and
       ``(7) solely for the purpose of constructing a rail 
     connection between a plant or facility and a railroad, 
     limited option freight shippers that own or operate a plant 
     or other facility.
       ``(b) Eligible Purposes.--
       ``(1) In general.--Direct loans and loan guarantees 
     provided under this section shall be used to--
       ``(A)(i) acquire, improve, or rehabilitate intermodal or 
     rail equipment or facilities, including track, components of 
     track, civil works such as cuts and fills, bridges, yards, 
     buildings, and shops; and
       ``(ii) finance costs related to the activities described in 
     clause (i), including preconstruction costs;
       ``(B) develop or establish new intermodal or railroad 
     facilities;
       ``(C) refinance outstanding debt incurred for the purposes 
     described in subparagraph (A) or (B);
       ``(D) reimburse planning, permitting, and design expenses 
     relating to activities described in subparagraph (A) or (B); 
     or
       ``(E) finance economic development, including commercial 
     and residential development, and related infrastructure and 
     activities that--
       ``(i) incorporates private investment;
       ``(ii) is physically or functionally related to a passenger 
     rail station or multimodal station that includes rail 
     service;
       ``(iii) has a high probability of the applicant commencing 
     the contracting process for construction not later than 90 
     days after the date on which the direct loan or loan 
     guarantee is obligated for the project under this chapter; 
     and
       ``(iv) has a high probability of reducing the need for 
     financial assistance under any other Federal program for the 
     relevant passenger rail station or service by increasing 
     ridership, tenant lease payments, or other activities that 
     generate revenue exceeding costs.
       ``(2) Operating expenses not eligible.--Direct loans and 
     loan guarantees under this section shall not be used for 
     railroad operating expenses.
       ``(3) Sunset.--The Secretary may provide a direct loan or 
     loan guarantee under this section for a project described in 
     paragraph (1)(E) only during the 4-year period beginning on 
     December 4, 2015.
       ``(c) Priority Projects.--In granting applications for 
     direct loans or guaranteed loans under this section, the 
     Secretary shall give priority to projects that--
       ``(1) enhance public safety, including projects for the 
     installation of a positive train control system (as defined 
     in section 20157(i));
       ``(2) promote economic development;
       ``(3) enhance the environment;
       ``(4) enable United States companies to be more competitive 
     in international markets;
       ``(5) are endorsed by the plans prepared under chapter 227 
     of this title or section 135 of title 23 by the State or 
     States in which the projects are located;
       ``(6) improve railroad stations and passenger facilities 
     and increase transit-oriented development;
       ``(7) preserve or enhance rail or intermodal service to 
     small communities or rural areas;
       ``(8) enhance service and capacity in the national rail 
     system; or
       ``(9)(A) would materially alleviate rail capacity problems 
     that degrade the provision of service to shippers; and
       ``(B) would fulfill a need in the national transportation 
     system.
       ``(d) Extent of Authority.--
       ``(1) Limitation on aggregate unpaid principal amounts of 
     obligations.--The aggregate unpaid principal amounts of 
     obligations under direct loans and loan guarantees made under 
     this section may not exceed $35,000,000,000 at any time.
       ``(2) Minimum amount for freight railroads.--Of the amount 
     under paragraph (1), not less than $7,000,000,000 shall be 
     available solely for projects primarily benefitting freight 
     railroads other than Class I carriers.
       ``(3) Proportion of unused amount.--The Secretary shall not 
     establish any limit on the proportion of the unused amount 
     authorized under this subsection that may be used for 1 loan 
     or loan guarantee.
       ``(e) Rates of Interest.--
       ``(1) Direct loans.--The interest rate on a direct loan 
     under this section shall be not less than the yield on United 
     States Treasury securities of a similar maturity to the 
     maturity of the secured loan on the date of execution of the 
     loan agreement.
       ``(2) Loan guarantees.--The Secretary shall not make a loan 
     guarantee under this section if the interest rate for the 
     loan exceeds that which the Secretary determines to be 
     reasonable, taking into consideration the prevailing interest 
     rates and customary fees incurred under similar obligations 
     in the private capital market.
       ``(f) Infrastructure Partners.--
       ``(1) Authority of secretary.--
       ``(A) In general.--In lieu of or in combination with 
     appropriations of budget authority to cover the costs of 
     direct loans and loan guarantees as required under section 
     504(b)(1) of the Federal Credit Reform Act of 1990 (2 U.S.C. 
     661c(b)(1)), including the cost of a modification of a direct 
     loan or loan guarantee, the Secretary may accept on behalf of 
     an applicant for assistance under this section a commitment 
     from a non-Federal source, including a State or local 
     government or agency, or public benefit corporation or public 
     authority of a State or local

[[Page S2593]]

     government, to fund, in whole or in part, credit risk 
     premiums and modification costs with respect to the loan that 
     is the subject of the application or modification.
       ``(B) Limitation.--The aggregate of appropriations of 
     budget authority and credit risk premiums described in this 
     paragraph with respect to a direct loan or loan guarantee 
     shall not be less than the cost of that direct loan or loan 
     guarantee.
       ``(2) Credit risk premium amount.--The Secretary shall 
     determine the amount required for credit risk premiums under 
     this subsection on the basis of--
       ``(A) the circumstances of the applicant, including the 
     amount of collateral offered, if any;
       ``(B) the proposed schedule of loan disbursements;
       ``(C) historical data on the repayment history of similar 
     borrowers;
       ``(D) consultation with the Congressional Budget Office; 
     and
       ``(E) any other factors the Secretary considers relevant.
       ``(3) Creditworthiness.--Upon receipt of a proposal from an 
     applicant for assistance under this section, the Secretary 
     shall accept, as a basis for determining the amount of the 
     credit risk premium under paragraph (2), in addition to the 
     value of any collateral described in paragraph (5), any of 
     the following :
       ``(A) The net present value of a future stream of State or 
     local subsidy income or other dedicated revenues to secure 
     the direct loan or loan guarantee.
       ``(B) Adequate coverage requirements to ensure repayment, 
     on a nonrecourse basis, from cash flows generated by the 
     project or any other dedicated revenue source, including--
       ``(i) tolls;
       ``(ii) user fees, including operating or tenant charges, 
     facility rents, or other fees paid by transportation service 
     providers or operators for access to, or the use of, 
     infrastructure, including rail lines, bridges, tunnels, 
     yards, or stations; and
       ``(iii) payments owing to the obligor under a public-
     private partnership.
       ``(C) An investment-grade rating on the direct loan or loan 
     guarantee, as applicable, unless the total amount of the 
     direct loan or loan guarantee is greater than $150,000,000, 
     in which case the applicant shall have an investment-grade 
     rating from not fewer than 2 rating agencies regarding the 
     direct loan or loan guarantee.
       ``(D) A projection of freight or passenger demand for the 
     project based on regionally developed economic forecasts, 
     including projections of any modal diversion resulting from 
     the project.
       ``(4) Payment of premiums.--Credit risk premiums under this 
     subsection shall be paid to the Secretary before the 
     disbursement of loan amounts (and in the case of a 
     modification, before the modification is executed), to the 
     extent appropriations are not available to the Secretary to 
     meet the costs of direct loans and loan guarantees, including 
     costs of modifications of direct loans and loan guarantees.
       ``(5) Collateral.--
       ``(A) Types of collateral.--An applicant or infrastructure 
     partner may propose tangible and intangible assets as 
     collateral, exclusive of goodwill. The Secretary, after 
     evaluating each such asset--
       ``(i) shall accept a net liquidation value of collateral; 
     and
       ``(ii) shall consider and may accept--

       ``(I) the market value of collateral; or
       ``(II) in the case of a blanket pledge or assignment of an 
     entire operating asset or basket of assets as collateral, the 
     net liquidation value, the market value of assets, or, the 
     market value of the going concern, considering--

       ``(aa) inclusion in the pledge of all the assets necessary 
     for independent operational utility of the collateral, 
     including tangible assets such as real property, track and 
     structure, equipment and rolling stock, stations, systems and 
     maintenance facilities and intangible assets such as long-
     term shipping agreements, easements, leases and access rights 
     such as for trackage and haulage;
       ``(bb) interchange commitments; and
       ``(cc) the value of the asset as determined through the 
     cost or market approaches, or the market value of the going 
     concern, with the latter considering discounted cash flows 
     for a period not to exceed the term of the direct loan or 
     loan guarantee.
       ``(B) Appraisal standards.--In evaluating appraisals of 
     collateral under subparagraph (A), the Secretary shall 
     consider--
       ``(i) adherence to the substance and principles of the 
     Uniform Standards of Professional Appraisal Practice, as 
     developed by the Appraisal Standards Board of the Appraisal 
     Foundation;
       ``(ii) performance of the appraisal by licensed or 
     certified appraisers as may be required by the State of 
     jurisdiction for the type of asset being appraised; and
       ``(iii) the qualifications of the appraisers to value the 
     type of collateral offered.
       ``(g) Prerequisites for Assistance.--The Secretary shall 
     not make a direct loan or loan guarantee under this section 
     unless the Secretary has made a written finding that--
       ``(1) repayment of the obligation is required to be made 
     within a term of the lesser of--
       ``(A) 35 years after the date of substantial completion of 
     the project; or
       ``(B) with regard to rail equipment or facilities with 
     estimated useful lives that exceed the term described in 
     subparagraph (A)--
       ``(i) 50 years after the date of substantial completion of 
     the project; or
       ``(ii) the estimated useful life of the rail equipment or 
     facilities to be acquired, rehabilitated, improved, 
     developed, or established, subject to an adequate 
     determination of long-term risk;
       ``(2) the direct loan or loan guarantee is justified by the 
     present and probable future demand for rail services or 
     intermodal facilities;
       ``(3) the applicant has given reasonable assurances that 
     the facilities or equipment to be acquired, rehabilitated, 
     improved, developed, or established with the proceeds of the 
     obligation will be economically and efficiently utilized;
       ``(4) the obligation can reasonably be repaid, using an 
     appropriate combination of credit risk premiums and 
     collateral offered by the applicant to protect the Federal 
     Government; and
       ``(5) the purposes of the direct loan or loan guarantee are 
     consistent with subsection (b).
       ``(h) Conditions of Assistance.--
       ``(1) In general.--The Secretary, before granting 
     assistance under this section, shall require the applicant to 
     agree to such terms and conditions as are sufficient, in the 
     judgment of the Secretary, to ensure that, as long as any 
     principal or interest is due and payable on the obligation, 
     the applicant, and any railroad or railroad partner for whose 
     benefit the assistance is intended--
       ``(A) will not use any funds or assets from railroad or 
     intermodal operations for purposes not related to the 
     operations, if the use--
       ``(i) would impair the ability of the applicant, railroad, 
     or railroad partner to provide rail or intermodal services in 
     an efficient and economic manner; or
       ``(ii) would adversely affect the ability of the applicant, 
     railroad, or railroad partner to perform any obligation 
     entered into by the applicant under this section;
       ``(B) will, consistent with its capital resources, maintain 
     its capital program, equipment, facilities, and operations on 
     a continuing basis; and
       ``(C) will not make any discretionary dividend payments 
     that unreasonably conflict with the purposes stated in 
     subsection (b).
       ``(2) Collateral and request for assistance from another 
     source not required.--
       ``(A) Collateral.--
       ``(i) In general.--The Secretary shall not require an 
     applicant for a direct loan or loan guarantee under this 
     section to provide collateral.
       ``(ii) Valuation.--Any collateral provided or enhanced 
     after being provided shall be valued as a going concern after 
     giving effect to the present value of improvements 
     contemplated by the completion and operation of the project, 
     if applicable.
       ``(B) Request for assistance from another source.--The 
     Secretary shall not require an applicant for a direct loan or 
     loan guarantee under this section to have previously sought 
     the financial assistance requested from another source.
       ``(3) Required compliance.--The Secretary shall require 
     recipients of direct loans or loan guarantees under this 
     section to comply with--
       ``(A) the standards of section 24312, as in effect on 
     September 1, 2002, with respect to the project in the same 
     manner that Amtrak is required to comply with the standards 
     for construction work financed under an agreement made under 
     section 24308(a); and
       ``(B) the protective arrangements established under section 
     22404, with respect to employees affected by actions taken in 
     connection with the project to be financed by the direct loan 
     or loan guarantee.
       ``(4) Matching funds.--The Secretary shall require each 
     recipient of a direct loan or loan guarantee under this 
     section, for a project described in subsection (b)(1)(E), to 
     provide a non-Federal match of not less than 25 percent of 
     the total amount expended by the recipient for the project.
       ``(i) Application Processing Procedures.--
       ``(1) Application status notices.--Not later than 30 days 
     after the date on which the Secretary receives an application 
     under this section, or additional information and material 
     under paragraph (2)(B), the Secretary shall provide the 
     applicant written notice as to whether the application is 
     complete or incomplete.
       ``(2) Incomplete applications.--If the Secretary determines 
     that an application is incomplete, the Secretary shall--
       ``(A) provide the applicant with a description of all of 
     the specific information or material that is needed to 
     complete the application, including any information required 
     by an independent financial analyst; and
       ``(B) allow the applicant to resubmit the application with 
     the information and material described under subparagraph (A) 
     to complete the application.
       ``(3) Application approvals and disapprovals.--
       ``(A) In general.--Not later than 45 days after the date on 
     which the Secretary notifies an applicant that an application 
     is complete under paragraph (1), the Secretary shall provide 
     the applicant written notice as to whether the Secretary has 
     approved or disapproved the application.
       ``(B) Actions by the office of management and budget.--In 
     order to enable compliance with the time limit under 
     subparagraph (A), the Office of Management and Budget shall 
     take any action required with

[[Page S2594]]

     respect to the application within that 60-day period.
       ``(4) Streamlined application review process.--
       ``(A) In general.--Consistent with section 116, and not 
     later than 180 days after date of the enactment of the 
     Railroad Rehabilitation and Financing Innovation Act, the 
     Secretary shall make available an expedited application 
     process or processes at the request of applicants seeking 
     loans or loan guarantees.
       ``(B) Criteria.--Applicants seeking loans and loan 
     guarantees issued under this subsection shall--
       ``(i) seek a total loan or loan guarantee value not 
     exceeding $100,000,000;
       ``(ii) meet eligible project purposes included in 
     subparagraphs (A)(i), (A)(ii), and (B) of subsection (b)(1); 
     and
       ``(iii) meet other criteria considered appropriate by the 
     Secretary, in consultation with the Department of 
     Transportation Council on Credit and Finance.
       ``(C) Expedited credit review.--The total time between the 
     submission of a draft application and the approval or 
     disapproval of a loan or loan guarantee for an applicant 
     under this paragraph shall not exceed 90 days. If an 
     application review conducted under this paragraph exceeds 90 
     days, the Secretary shall--
       ``(i) provide written notice to the applicant, including a 
     justification for the delay and updated estimate of the time 
     needed for approval or disapproval; and
       ``(ii) publish the notice on the dashboard described in 
     paragraph (5).
       ``(5) Dashboard.--The Secretary shall post, on the 
     Department of Transportation's internet website, a monthly 
     report that includes, for each application--
       ``(A) the applicant type;
       ``(B) the location of the project;
       ``(C) a brief description of the project, including its 
     purpose;
       ``(D) the requested direct loan or loan guarantee amount;
       ``(E) the date on which the Secretary provided application 
     status notice under paragraph (1);
       ``(F) the date that the Secretary provided notice of 
     approval or disapproval under paragraph (3); and
       ``(G) whether the project utilized the expedited 
     application process under paragraph (4).
       ``(6) Regular creditworthiness review status reports.--
       ``(A) In general.--The Secretary shall provide to the 
     applicant a regular report containing information related to 
     the application for a loan or loan guarantee, including--
       ``(i) a summary of the proposed transaction, including--

       ``(I) the total value of the proposed loan or loan 
     guarantee;
       ``(II) the name of the applicant or applicants submitting 
     an application;
       ``(III) the proposed capital structure of the project to 
     which the loan or loan guarantee would be applied, including 
     the proposed Federal and non-Federal shares of the total 
     project cost;
       ``(IV) the type of activity to receive credit assistance, 
     including whether the project--

       ``(aa) is new construction or rehabilitation of existing 
     rail equipment or facilities;
       ``(bb) is a refinancing an existing loan or loan guarantee; 
     and

       ``(V) if a deferred payment is proposed, the length of such 
     deferment;
       ``(VI) the credit rating or ratings provided for the 
     applicant;
       ``(VII) if other credit instruments are involved, the 
     proposed subordination relationship and a description of such 
     other credit instruments;
       ``(VIII) a schedule for the readiness of proposed 
     investments for financing;
       ``(IX) a description of any Federal permits required, 
     including under the National Environmental Policy Act of 1969 
     (42 U.S.C. 4321 et seq.) and any waivers under section 
     5323(j) of title 49, United States Code (commonly referred to 
     as the `Buy America Act'); and
       ``(X) other characteristics of the proposed activity to be 
     financed, borrower, key agreements, or the nature of the 
     credit that the Secretary considers to be fundamental to the 
     creditworthiness review;

       ``(ii) the status of the application in the pre-application 
     review and selection process;
       ``(iii) the cumulative amounts paid by the Secretary to 
     outside advisors related to the application, including 
     financial and legal advisors;
       ``(iv) a description of the key rating factors used by the 
     Secretary to determine credit risk, including--

       ``(I) the qualitative and quantitative factors used to 
     determine risk for the proposed application;
       ``(II) an adjectival risk rating for each identified 
     factor, ranked as either low, moderate, or high; and

       ``(v) a nonbinding estimate of the credit risk premium, 
     which may be in the form of--

       ``(I) a range, based on the assessment of risk factors 
     described in clause (iv); or
       ``(II) a justification for why the estimate of the credit 
     risk premium cannot be determined based on available 
     information; and

       ``(vi) a description of key information the Secretary needs 
     from the applicant to complete the credit review process and 
     make a final determination of the credit risk premium.
       ``(B) Report.--The Secretary shall submit the report 
     described in subparagraph (A) not less frequently than every 
     45 days after the date on which the Secretary presents the 
     first request to the applicant for funding to pay fees for 
     advisors described in subparagraph (A)(iii).
       ``(C) Exception.--The report required under this paragraph 
     shall not be applied to applications processed using the 
     expedited credit review process under paragraph (5)(B).
       ``(j) Repayment Schedules.--
       ``(1) In general.--The Secretary shall establish a 
     repayment schedule requiring payments to commence not later 
     than 5 years after the date of substantial completion.
       ``(2) Accrual.--Interest shall accrue as of the date of 
     disbursement, and shall be amortized over the remaining term 
     of the loan, beginning at the time the payments begin.
       ``(3) Deferred payments.--
       ``(A) In general.--If, at any time the date of substantial 
     completion, the obligor is unable to pay the scheduled loan 
     repayments of principal and interest on a direct loan 
     provided under this section, the Secretary, subject to 
     subparagraph (B), may allow, for a maximum aggregate time of 
     1 year over the duration of the direct loan, the obligor to 
     add unpaid principal and interest to the outstanding balance 
     of the direct loan.
       ``(B) Interest.--A payment deferred under subparagraph (A) 
     shall--
       ``(i) continue to accrue interest under paragraph (2) until 
     the loan is fully repaid; and
       ``(ii) be scheduled to be amortized over the remaining term 
     of the loan.
       ``(4) Prepayments.--
       ``(A) Use of excess revenues.--With respect to a direct 
     loan provided by the Secretary under this section, any excess 
     revenues that remain after satisfying scheduled debt service 
     requirements on the project obligations and direct loan and 
     all deposit requirements under the terms of any trust 
     agreement, bond resolution, or similar agreement securing 
     project obligations may be applied annually to prepay the 
     direct loan without penalty.
       ``(B) Use of proceeds of refinancing.--The direct loan may 
     be prepaid at any time without penalty from the proceeds of 
     refinancing from non-Federal funding sources.
       ``(k) Sale of Direct Loans.--
       ``(1) In general.--Subject to paragraph (2) and as soon as 
     practicable after substantial completion of a project, the 
     Secretary, after notifying the obligor, may sell to another 
     entity or reoffer into the capital markets a direct loan for 
     the project if the Secretary determines that the sale or 
     reoffering has a high probability of being made on favorable 
     terms.
       ``(2) Consent of obligor.--In making a sale or reoffering 
     under paragraph (1), the Secretary shall not change the 
     original terms and conditions of the secured loan without the 
     prior written consent of the obligor.
       ``(l) Nonsubordination.--
       ``(1) In general.--Except as provided in paragraph (2), a 
     direct loan provided by the Secretary under this section 
     shall not be subordinated to the claims of any holder of 
     project obligations in the event of bankruptcy, insolvency, 
     or liquidation of the obligor.
       ``(2) Preexisting indentures.--
       ``(A) In general.--The Secretary may waive the requirement 
     under paragraph (1) for a public agency borrower that is 
     financing ongoing capital programs and has outstanding senior 
     bonds under a preexisting indenture if--
       ``(i) the direct loan is rated in the A category or higher;
       ``(ii) the direct loan is secured and payable from pledged 
     revenues not affected by project performance, such as a tax-
     based revenue pledge or a system-backed pledge of project 
     revenues; and
       ``(iii) the program share, under this chapter, of eligible 
     project costs is 50 percent or less.
       ``(B) Limitation.--The Secretary may impose limitations for 
     the waiver of the nonsubordination requirement under this 
     paragraph if the Secretary determines that the limitations 
     would be in the financial interest of the Federal Government.
       ``(m) Master Credit Agreements.--
       ``(1) In general.--Subject to paragraph (2) and to 
     subsection (d), the Secretary may enter into a master credit 
     agreement that is contingent on all of the conditions for the 
     provision of a direct loan or loan guarantee, as applicable, 
     under this chapter and other applicable requirements being 
     satisfied prior to the issuance of the direct loan or loan 
     guarantee.
       ``(2) Conditions.--Each master credit agreement shall--
       ``(A) establish the maximum amount and general terms and 
     conditions of each applicable direct loan or loan guarantee;
       ``(B) identify 1 or more dedicated non-Federal revenue 
     sources that will secure the repayment of each applicable 
     direct loan or loan guarantee;
       ``(C) provide for the obligation of funds--
       ``(i) for the direct loans or loan guarantees contingent on 
     the meeting of all applicable requirements and after all 
     requirements have been met, for the projects subject to the 
     master credit agreement; and
       ``(D) provide 1 or more dates, as determined by the 
     Secretary, before which the master credit agreement results 
     in the disbursement issuance of each of the direct loans or 
     loan guarantees or in the release of the master credit 
     agreement.

     ``Sec. 22403. Administration of direct loans and loan 
       guarantees

       ``(a) Applications.--

[[Page S2595]]

       ``(1) In general.--The Secretary shall prescribe the form 
     and contents required of applications for assistance under 
     section 22402, to enable the Secretary to determine the 
     eligibility of the applicant's proposal, and shall establish 
     terms and conditions for direct loans and loan guarantees 
     made under that section, including a program guide, a 
     standard term sheet, and specific timetables.
       ``(2) Documentation.--An applicant meeting the size 
     standard for small business concerns established under 
     section 3(a)(2) of the Small Business Act (15 U.S.C. 
     632(a)(2)) may provide unaudited financial statements as 
     documentation of historical financial information if such 
     statements are accompanied by the applicant's Federal tax 
     returns and Internal Revenue Service tax verifications for 
     the corresponding years.
       ``(b) Full Faith and Credit.--All guarantees entered into 
     by the Secretary under section 22402 shall constitute general 
     obligations of the United States of America and shall be 
     backed by the full faith and credit of the United States of 
     America.
       ``(c) Assignment of Loan Guarantees.--The holder of a loan 
     guarantee made under section 22402 may assign the loan 
     guarantee in whole or in part, subject to such requirements 
     as the Secretary may prescribe.
       ``(d) Modifications.--The Secretary may approve the 
     modification of any term or condition of a direct loan, loan 
     guarantee, direct loan obligation, or loan guarantee 
     commitment, including the rate of interest, time of payment 
     of interest or principal, or security requirements, if the 
     Secretary finds in writing that--
       ``(1) the modification is equitable and is in the overall 
     best interests of the United States;
       ``(2) consent has been obtained from the applicant and in 
     the case of a loan guarantee or loan guarantee commitment, 
     the holder of the obligation; and
       ``(3) the modification cost has been covered under section 
     22402(f).
       ``(e) Compliance.--The Secretary shall ensure compliance by 
     an applicant, any other party to the loan, and any railroad 
     or railroad partner for whose benefit assistance is intended, 
     with the provisions of this chapter, regulations issued under 
     this chapter, and the terms and conditions of the direct loan 
     or loan guarantee, including through regular periodic 
     inspections.
       ``(f) Commercial Validity.--
       ``(1) In general.--For purposes of claims by any party 
     other than the Secretary, a loan guarantee or loan guarantee 
     commitment shall be conclusive evidence that the underlying 
     obligation is in compliance with the provisions of this 
     chapter, and that the obligation has been approved and is 
     legal as to principal, interest, and other terms.
       ``(2) Valid and incontestable.--A guarantee or commitment 
     under paragraph (1) shall be valid and incontestable in the 
     hands of a holder of the guarantee or commitment, including 
     the original lender or any other holder, as of the date when 
     the Secretary granted the application for the guarantee or 
     commitment, except as to fraud or material misrepresentation 
     by the holder.
       ``(g) Default.--
       ``(1) In general.--The Secretary shall prescribe 
     regulations setting forth procedures in the event of default 
     on a loan made or guaranteed under section 22402.
       ``(2) Loan guarantees.--The Secretary shall ensure that 
     each loan guarantee made under section 22402 contains terms 
     and conditions that provide that--
       ``(A) if a payment of principal or interest under the loan 
     is in default for more than 30 days, the Secretary shall pay 
     to the holder of the obligation, or the holder's agent, the 
     amount of unpaid guaranteed interest;
       ``(B) if the default has continued for more than 90 days, 
     the Secretary shall pay to the holder of the obligation, or 
     the holder's agent, 90 percent of the unpaid guaranteed 
     principal;
       ``(C) after final resolution of the default, through 
     liquidation or otherwise, the Secretary shall pay to the 
     holder of the obligation, or the holder's agent, any 
     remaining amounts guaranteed but that were not recovered 
     through the default's resolution;
       ``(D) the Secretary shall not be required to make any 
     payment under subparagraphs (A) through (C) if the Secretary 
     finds, before the expiration of the periods described in such 
     subparagraphs, that the default has been remedied; and
       ``(E) the holder of the obligation shall not receive 
     payment or be entitled to retain payment in a total amount 
     that, together with all other recoveries (including any 
     recovery based upon a security interest in equipment or 
     facilities) exceeds the actual loss of the holder.
       ``(h) Rights of the Secretary.--
       ``(1) Subrogation.--If the Secretary makes payment to a 
     holder, or a holder's agent, under subsection (g) in 
     connection with a loan guarantee made under section 22402, 
     the Secretary shall be subrogated to all of the rights of the 
     holder with respect to the obligor under the loan.
       ``(2) Disposition of property.--The Secretary may complete, 
     recondition, reconstruct, renovate, repair, maintain, 
     operate, charter, rent, sell, or otherwise dispose of any 
     property or other interests obtained pursuant to this 
     section. The Secretary shall not be subject to any Federal or 
     State regulatory requirements when carrying out this 
     paragraph.
       ``(i) Action Against Obligor.--
       ``(1) In general.--The Secretary may bring a civil action 
     in an appropriate Federal court in the name of the United 
     States in the event of a default on a direct loan made under 
     section 22402 or in the name of the United States or of the 
     holder of the obligation in the event of a default on a loan 
     guaranteed under section 22402.
       ``(2) Records and evidence.--The holder of a guarantee 
     shall make available to the Secretary all records and 
     evidence necessary to prosecute the civil action.
       ``(3) Property as satisfaction of sums owed.--The Secretary 
     may accept property in full or partial satisfaction of any 
     sums owed as a result of a default.
       ``(4) Excess amount.--
       ``(A) Payment to obligor.--If the Secretary receives, 
     through the sale or other disposition of the property 
     described in paragraph (3), an excess amount described in 
     subparagraph (B), the Secretary shall pay to the obligor the 
     excess amount.
       ``(B) Amount.--An excess amount under this subparagraph is 
     an amount the exceeds the aggregate of--
       ``(i) the amount paid to the holder of a guarantee under 
     subsection (g); and
       ``(ii) any other cost to the United States of remedying the 
     default.
       ``(j) Breach of Conditions.--The Attorney General shall 
     commence a civil action in an appropriate Federal court to 
     enjoin any activity that the Secretary finds is in violation 
     of this chapter, regulations issued under this chapter, or 
     any conditions that were agreed to, and to secure any other 
     appropriate relief.
       ``(k) Attachment.--No attachment or execution may be issued 
     against the Secretary, or any property in the control of the 
     Secretary, prior to the entry of final judgment to that 
     effect in any Federal, State, or other court.
       ``(l) Charges and Loan Servicing.--
       ``(1) Purposes.--The Secretary may collect from each 
     applicant, obligor, or loan party a reasonable charge for--
       ``(A) the cost of evaluating the application, amendments, 
     modifications, and waivers, including for evaluating project 
     viability, applicant creditworthiness, and the appraisal of 
     the value of the equipment or facilities for which the direct 
     loan or loan guarantee is sought, and for making necessary 
     determinations and findings;
       ``(B) to cost of award management and project management 
     oversight;
       ``(C) the cost of services from expert firms, including 
     counsel, and independent financial advisors to assist in the 
     underwriting, auditing, servicing, and exercise of rights 
     with respect to direct loans and loan guarantees; and
       ``(D) the cost of all other expenses incurred as a result 
     of a breach of any term or condition or any event of default 
     on a direct loan or loan guarantee.
       ``(2) Charge different amounts.--The Secretary may charge 
     different amounts under this subsection based on the 
     different costs incurred under paragraph (1).
       ``(3) Servicer.--
       ``(A) In general.--The Secretary may appoint a financial 
     entity to assist the Secretary in servicing a direct loan or 
     loan guarantee under this chapter.
       ``(B) Duties.--A servicer appointed under subparagraph (A) 
     shall act as the agent of the Secretary in servicing a direct 
     loan or loan guarantee under this chapter.
       ``(C) Fees.--A servicer appointed under subparagraph (A) 
     shall receive a servicing fee from the obligor or other loan 
     party, subject to approval by the Secretary.
       ``(4) National surface transportation and innovative 
     finance bureau account.--Amounts collected under this 
     subsection shall--
       ``(A) be credited directly to the National Surface 
     Transportation and Innovative Finance Bureau Account; and
       ``(B) remain available until expended to pay for the costs 
     described in this subsection.
       ``(m) Fees and Charges.--Except as provided in this 
     chapter, the Secretary may not assess fees, including user 
     fees, or charges in connection with a direct loan or loan 
     guarantee provided under section 22402.

     ``Sec. 22404. Employee protection

       ``(a) In General.--
       ``(1) Fair and equitable arrangements.--Fair and equitable 
     arrangements shall be provided, in accordance with this 
     section, to protect the interests of any employees who may be 
     affected by actions taken pursuant to authorizations or 
     approval obtained under this chapter.
       ``(2) Arrangements by agreements.--The arrangements under 
     paragraph (1) shall be determined by the execution of an 
     agreement between the representatives of the railroads and 
     the representatives of their employees not later than June 4, 
     1976.
       ``(3) Prescribed arrangements.--In the absence of an 
     executed agreement under paragraph (2), the Secretary of 
     Labor shall prescribe the applicable protective arrangements 
     not later than July 4, 1976.
       ``(b) Terms.--
       ``(1) Applicability to existing employees.--The 
     arrangements required under subsection (a) shall apply to 
     each employee who has an employment relationship with a 
     railroad on the date on which the railroad first applies for 
     financial assistance under this chapter.
       ``(2) Inclusions.--Such arrangements shall include such 
     provisions as may be necessary

[[Page S2596]]

     for the negotiation and execution of agreements as to the 
     manner in which the protective arrangements shall be applied, 
     including notice requirements.
       ``(3) Execution prior to implementation of work.--The 
     agreements shall be executed prior to implementation of work 
     funded from financial assistance under this chapter.
       ``(4) Arbitration.--
       ``(A) In general.--If an agreement described in subsection 
     (a)(2) is not reached within 30 days after the date on which 
     an application for the assistance is approved, either party 
     to the dispute may submit the issue for final and binding 
     arbitration.
       ``(B) Decision.--
       ``(i) When decision is to be rendered.--The decision on any 
     arbitration under this paragraph shall be rendered within 30 
     days after the submission.
       ``(ii) Effect.--The arbitration decision--

       ``(I) shall not modify the protection afforded in the 
     protective arrangements established pursuant to this section;
       ``(II) shall be final and binding on the parties to the 
     arbitration; and
       ``(III) shall become a part of the agreement.

       ``(5) Other inclusions.--The arrangements shall also 
     include such provisions as may be necessary--
       ``(A) for the preservation of compensation (including 
     subsequent general wage increases, vacation allowances, and 
     monthly compensation guarantees), right, privileges, and 
     benefits (including fringe benefits such as pensions, 
     hospitalization, and vacations, under the same conditions and 
     so long as the benefits continue to be accorded to other 
     employees of the employing railroad in active service or on 
     furlough, as the case may be) to the employees under existing 
     collective-bargaining agreements or otherwise;
       ``(B) to provide for final and binding arbitration of any 
     dispute that cannot be settled by the parties with respect to 
     the interpretation, application, or enforcement of the 
     provisions of the protective arrangements;
       ``(C) to provide that an employee who is unable to secure 
     employment by the exercise of the employee's seniority 
     rights, as a result of actions taken with financial 
     assistance obtained under this chapter, shall be offered 
     reassignment and, where necessary, retraining to fill a 
     position comparable to the position held at the time of the 
     adverse effect and for which the employee is, or by training 
     and retraining can become, physically and mentally qualified, 
     so long as the offer is not in contravention of collective 
     bargaining agreements relating to the provisions in this 
     paragraph; and
       ``(D) to provide that the protection afforded pursuant to 
     this section shall not be applicable to employees benefitted 
     solely as a result of the work that is financed by funds 
     provided pursuant to this chapter.
       ``(c) Subcontracting.--The arrangements that are required 
     to be negotiated by the parties or prescribed by the 
     Secretary of Labor, pursuant to subsections (a) and (b), 
     shall include provisions regulating subcontracting by the 
     railroads of work that is financed by funds provided pursuant 
     to this chapter.

     ``Sec. 22405. Substantive criteria and standards

       ``The Secretary shall publish in the Federal Register and 
     post on the Department of Transportation website the 
     substantive criteria and standards used by the Secretary to 
     determine whether to approve or disapprove applications 
     submitted under section 22404. The Secretary shall ensure 
     adequate procedures and guidelines are in place to permit the 
     filing of complete applications within 30 days of the 
     publication.

     ``Sec. 22406. Funding

       ``(a) Authorization of Appropriations.--
       ``(1) In general.--There are authorized to be appropriated 
     out of the General Fund for credit assistance under this 
     chapter--
       ``(A) $30,000,000 for fiscal year 2021;
       ``(B) $31,000,000 for fiscal year 2022;
       ``(C) $32,000,000 for fiscal year 2023;
       ``(D) $33,000,000 for fiscal year 2024; and
       ``(E) $34,000,000 for fiscal year 2025.
       ``(2) Availability.--Amounts appropriated pursuant to this 
     subsection shall remain available until expended.
       ``(b) Use of Funds.--
       ``(1) In general.--Except as provided in paragraph (2), 
     amounts appropriated pursuant to this section shall be used 
     for loans and loan guarantees with a total value of not more 
     than $200,000,000.
       ``(2) Administrative costs.--In each fiscal year, not less 
     than $3,000,000 of the amounts appropriated pursuant to 
     subsection (a) shall be made available for the Secretary for 
     use in lieu of charges collected under section 22403(l)(1) 
     for freight railroads other than Class I carriers and 
     passenger railroads.
       ``(3) Short line set-aside.--In each fiscal year, not less 
     than 50 percent of the amounts appropriated pursuant to 
     subsection (a) that remain available after the set aside 
     described in paragraph (2) shall be set aside for freight 
     railroads other than Class I carriers.
       ``(4) Passenger rail set-aside.--Any amounts appropriated 
     pursuant to subsection (a) that remain available after the 
     set-asides described in paragraphs (2) and (3) shall be set 
     aside for passenger railroads.''.
       (b) Clerical Amendment.--The table of chapters for title 
     49, United States Code, is amended by inserting after the 
     item relating to chapter 223 the following:

   ``Chapter 224--Railroad Rehabilitation and Improvement Financing 
                               Program''.

     SEC. 3. CONFORMING AMENDMENTS.

       (a) National Trails System Act.--Section 8(d) of the 
     National Trails System Act (16 U.S.C. 1247(d)) is amended by 
     inserting ``(45 U.S.C. 801 et seq.) and chapter 224 of title 
     49, United States Code'' after ``1976''.
       (b) Passenger Rail Reform and Investment Act.--Section 
     11315(c) of the Passenger Rail Reform and Investment Act of 
     2015 (23 U.S.C. 322 note; Public Law 114-94) is amended by 
     striking ``sections 502 and 503 of the Railroad 
     Revitalization and Regulatory Reform Act of 1976'' and 
     inserting ``sections 22402 and 22403 of title 49, United 
     States Code''.
       (c) Provisions Classified in Title 45, United States 
     Code.--
       (1) Section 101 of the Railroad Revitalization and 
     Regulatory Reform Act of 1976 (45 U.S.C. 801) is amended--
       (A) in subsection (a), in the matter preceding paragraph 
     (1), by striking ``It is the purpose of the Congress in this 
     Act to'' and inserting ``The purpose of this Act and chapter 
     224 of subtitle V of title 49, United States Code, is to''; 
     and
       (B) in subsection (b), in the matter preceding paragraph 
     (1), by striking ``It is declared to be the policy of the 
     Congress in this Act'' and inserting ``The policy of this Act 
     and chapter 224 of title 49, United States Code, is''.
       (2) Section 11607(b) of the Railroad Infrastructure 
     Financing Improvement Act (Public Law 114-94; 45 U.S.C. 821 
     note) is amended by striking ``All provisions under sections 
     502 through 504 of the Railroad Revitalization and Regulatory 
     Reform Act of 1976 (45 U.S.C. 8301 et seq.)'' and inserting 
     ``All provisions under section 22404 through 22404 of title 
     49, United States Code,''.
       (3) Section 11610(b) of the Railroad Infrastructure 
     Financing Improvement Act (Public Law 114-94; 45 U.S.C. 821 
     note) is amended by striking ``section 502(f) of the Railroad 
     Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 
     822(f)), as amended by section 11607 of this Act'' and 
     inserting ``section 22402(f) of title 49, United States 
     Code''.
       (4) Section 7203(b)(2) of the Transportation Equity Act for 
     the 21st Century (Public Law 105-178; 45 U.S.C. 821 note) is 
     amended by striking ``title V of the Railroad Revitalization 
     and Regulatory Reform Act of 1976 (45 U.S.C. 821 et seq.)'' 
     and inserting ``chapter 224 of title 49, United States 
     Code,''.
       (5) Section 212(d)(1) of Hamm Alert Maritime Safety Act of 
     2018 (title II of Public Law 115-265; 45 U.S.C. 822 note) is 
     amended, in the matter preceding subparagraph (A), by 
     striking ``for purposes of section 502(f)(4) of the Railroad 
     Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 
     822(f)(4))'' and inserting ``for purposes of section 22402 of 
     title 49, United States Code''.
       (6) Section 15(f) of the Milwaukee Railroad Restructuring 
     Act (45 U.S.C. 914(f)) is amended by striking ``Section 516 
     of the Railroad Revitalization and Regulatory Reform Act of 
     1976 (45 U.S.C. 836)'' and inserting ``Section 22404 of title 
     49, United States Code,''.
       (7) Section 104(b) of the Rock Island Railroad Transition 
     and Employee Assistance Act (45 U.S.C. 1003(b)) is amended--
       (A) in paragraph (1), by striking ``title V of the Railroad 
     Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 
     821 et seq.)'' and inserting ``chapter 224 of title 49, 
     United States Code,''; and
       (B) in paragraph (2), by striking ``title V of the Railroad 
     Revitalization and Regulatory Reform Act of 1976, and section 
     516 of such Act (45 U.S.C. 836)'' and inserting ``chapter 224 
     of title 49, United States Code, and section 22404 of title 
     49, United States Code,''.
       (8) Section 104(b)(2) of the Rock Island Railroad 
     Transition and Employee Assistance Act (45 U.S.C. 1003(b)(2)) 
     is amended by striking ``title V of the Railroad 
     Revitalization and Regulatory Reform Act of 1976, and section 
     516 of such Act (45 U.S.C. 836)'' and inserting ``chapter 224 
     of title 49, United States Code, and section 22404 of such 
     title 49,''.
       (d) Title 49.--
       (1) Section 116(d)(1)(B) of title 49, United States Code, 
     is amended by striking ``sections 501 through 503 of the 
     Railroad Revitalization and Regulatory Reform Act of 1976 (45 
     U.S.C. 821-823)'' and inserting ``sections 22401 through 
     22403 of this title''.
       (2) Section 306(b) of title 49, United States Code, is 
     amended--
       (A) by striking ``chapter 221 or 249 of this title,'' and 
     inserting ``chapter 221, 224, or 249 of this title,''; and
       (B) by striking ``, or title V of the Railroad 
     Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 
     821 et seq.)''.
       (3) Section 11311(d) of the Passenger Rail Reform and 
     Investment Act of 2015 (Public Law 114-94; 49 U.S.C. 20101 
     note) is amended by striking ``, and section 502 of the 
     Railroad Revitalization and Regulatory Reform Act of 1976 (45 
     U.S.C. 822)''.
       (4) Section 205(g) of the Passenger Rail Investment and 
     Improvement Act of 2008 (division B of Public Law 110-432; 49 
     U.S.C. 24101 note) is amended by striking ``title V of the 
     Railroad Revitalization and Regulatory Reform Act of 1976 (45 
     U.S.C. 821 et seq.)'' and inserting ``chapter 224 of title 
     49, United States Code''.
       (5) Section 22905(c)(2)(B) of title 49, United States Code, 
     is amended by striking ``section 504 of the Railroad 
     Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 
     836)'' and inserting ``section 22404 of this title''.
       (6) Section 24903 of title 49, United States Code, is 
     amended--
       (A) in subsection (a)(6), by striking ``and the Railroad 
     Revitalization and Regulatory

[[Page S2597]]

     Reform Act of 1976 (45 U.S.C. 801 et seq.)'' and inserting 
     ``, the Railroad Revitalization and Regulatory Reform Act of 
     1976 (45 U.S.C. 801 et seq.), and chapter 224 of this 
     title''; and
       (B) in subsection (c)(2), by striking ``and the Railroad 
     Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 
     801 et seq.)'' and inserting ``, the Railroad Revitalization 
     and Regulatory Reform Act of 1976 (45 U.S.C. 801 et seq.), 
     and chapter 224 of this title''.

     SEC. 4. TRANSITIONAL AND SAVINGS PROVISIONS.

       (a) Definitions.--In this section:
       (1) Restated provision.--The term ``restated provision'' 
     means a provision of chapter 224 of title 49, United States 
     Code, as added by section 2.
       (2) Source provision.--The term ``source provision'' means 
     a provision of law that is replaced by a restated provision.
       (b) Cutoff Date.--
       (1) In general.--The restated provisions replace certain 
     source provisions enacted on or before March 12, 2019.
       (2) Subsequent amendments and repeals.--If a law enacted 
     after March 12, 2019 amends or repeals a source provision, 
     that law is deemed to amend or repeal, as the case may be, 
     the corresponding restated provision. If a law enacted after 
     March 12, 2019 is otherwise inconsistent with a restated 
     provision of this Act, that law supersedes the restated 
     provision of this Act to the extent of the inconsistency.
       (c) Original Date of Enactment Unchanged.--A restated 
     provision is deemed to have been enacted on the date of 
     enactment of the corresponding source provision.
       (d) References to Restated Provisions.--A reference to a 
     restated provision is deemed to refer to the corresponding 
     source provision.
       (e) References to Source Provisions.--A reference to a 
     source provision, including a reference in a regulation, 
     order, or other law, is deemed to refer to the corresponding 
     restated provision.
       (f) Regulations, Orders, and Other Administrative 
     Actions.--A regulation, order, or other administrative action 
     in effect under a source provision continues in effect under 
     the corresponding restated provision.
       (g) Actions Taken and Offenses Committed.--An action taken 
     or an offense committed under a source provision is deemed to 
     have been taken or committed under the corresponding restated 
     provision.

     SEC. 5. REPEALS.

       The following provisions of law are repealed, except with 
     respect to rights and duties that matured, penalties that 
     were incurred, or proceedings that were begun before the date 
     of enactment of this Act:

                        Schedule of Laws Repealed
------------------------------------------------------------------------
                                                      United States Code
               Act                      Section             Former
                                                        Classification
------------------------------------------------------------------------
Railroad Revitalization and       501...............  45 U.S.C. 821.
 Regulatory Reform Act of 1976
 (Public Law 94-210).
                                  502...............  45 U.S.C. 822.
                                  503...............  45 U.S.C. 823.
                                  504...............  45 U.S.C. 836.
 Safe, Accountable, Flexible,     9003(j)...........  45 U.S.C. 822
 Efficient Transportation Equity                       note.
 Act: A Legacy for Users or
 SAFETEA-LU (Public Law 109-59).
------------------------------------------------------------------------

                                 ______
                                 
      By Mr. SCHUMER (for himself and Mr. Young):
  S. 3832. A bill to establish a new Directorate for Technology in the 
redesignated National Science and Technology Foundation, to establish a 
regional technology hub program, to require a strategy and report on 
economic security, science, research, and innovation, and for other 
purposes; to the Committee on Health, Education, Labor, and Pensions.
  Mr. SCHUMER. 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. 3832

       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 ``Endless Frontier Act''.

     SEC. 2. FINDINGS.

       Congress finds the following:
       (1) For over 70 years, the United States has been the 
     unequivocal global leader in scientific and technological 
     innovation, and as a result the people of the United States 
     have benefitted through good-paying jobs, economic 
     prosperity, and a higher quality of life. Today, however, 
     this leadership position is being eroded and challenged by 
     foreign competitors, some of whom are stealing intellectual 
     property and trade secrets of the United States and 
     aggressively investing in fundamental research and 
     commercialization to dominate the key technology fields of 
     the future. While the United States once led the world in the 
     share of our economy invested in research, our Nation now 
     ranks 9th globally in total research and development and 12th 
     in publicly financed research and development.
       (2) Without a significant increase in investment in 
     research, education, technology transfer, and the core 
     strengths of the United States innovation ecosystem, it is 
     only a matter of time before the global competitors of the 
     United States overtake the United States in terms of 
     technological primacy. The country that wins the race in key 
     technologies--such as artificial intelligence, quantum 
     computing, advanced communications, and advanced 
     manufacturing--will be the superpower of the future.
       (3) The Federal Government must catalyze United States 
     innovation by boosting fundamental research investments 
     focused on discovering, creating, commercializing, and 
     producing new technologies to ensure the leadership of the 
     United States in the industries of the future.
       (4) The distribution of innovation jobs and investment in 
     the United States has become largely concentrated in just a 
     few locations, while much of the Nation has been left out of 
     growth in the innovation sector. More than 90 percent of the 
     Nation's innovation sector employment growth in the last 15 
     years was generated in just 5 major cities. The Federal 
     Government must address this imbalance in opportunity by 
     partnering with the private sector to build new technology 
     hubs across the country, spreading innovation sector jobs 
     more broadly, and tapping the talent and potential of the 
     entire Nation to ensure the United States leads the 
     industries of the future.
       (5) Since its inception, the National Science Foundation 
     has carried out vital work supporting basic research and 
     people to create knowledge that is a primary driver of the 
     economy of the United States and enhances the Nation's 
     security.

     SEC. 3. NATIONAL SCIENCE AND TECHNOLOGY FOUNDATION.

       (a) Redesignation of National Science Foundation as 
     National Science and Technology Foundation.--
       (1) In general.--Section 2 of the Act of May 10, 1950 (64 
     Stat. 149, chapter 171; 42 U.S.C. 1861) is amended--
       (A) in the section heading, by inserting ``and technology'' 
     after ``science''; and
       (B) by striking ``the National Science Foundation'' and 
     inserting ``the National Science and Technology Foundation''.
       (2) References.--Any reference in any law, rule, 
     regulation, certificate, directive, instruction, or other 
     official paper in force on the date of enactment of this Act 
     to the National Science Foundation shall be considered to 
     refer and apply to the National Science and Technology 
     Foundation.
       (b) Establishment of Deputy Director for Technology.--
     Section 6 of the Act of May 10, 1950 (64 Stat. 149, chapter 
     171; 42 U.S.C. 1864a) is amended--
       (1) in the section heading, by striking ``deputy director'' 
     and inserting ``deputy directors'';
       (2) in the first sentence--
       (A) by striking ``a Deputy Director'' and inserting ``2 
     Deputy Directors''; and
       (B) by inserting ``and in accordance with the expedited 
     procedures established under S. Res. 116 (112th Congress)'' 
     after ``the Senate'';
       (3) in the third sentence, by striking ``The Deputy 
     Director shall receive'' and inserting ``Each Deputy Director 
     shall receive'';
       (4) by inserting after the third sentence the following: 
     ``The Deputy Director for Technology shall oversee, and 
     perform duties relating to, the Directorate for Technology of 
     the Foundation, as established under section 8A, and the 
     Deputy Director for Science shall oversee, and perform duties 
     relating to, the other activities and directorates supported 
     by the Foundation.''; and
       (5) in the last sentence, by striking ``The Deputy Director 
     shall act'' and inserting ``The Deputy Director for Science 
     shall act''.
       (c) Establishment of Directorate for Technology.--The Act 
     of May 10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C. 1861 et 
     seq.) is amended--
       (1) in section 8 (42 U.S.C. 1866), by inserting at the end 
     the following: ``Such divisions shall include the Directorate 
     for Technology established under section 8A.''; and
       (2) by inserting after section 8 the following:

     ``SEC. 8A. DIRECTORATE FOR TECHNOLOGY.

       ``(a) Definitions.--In this section:

[[Page S2598]]

       ``(1) Deputy director.--The term `Deputy Director' means 
     the Deputy Director for Technology.
       ``(2) Designated country.--The term `designated country' 
     means a country that has been approved and designated in 
     writing by the President for purposes of this section, after 
     providing--
       ``(A) not less than 30 days of advance notification and 
     explanation to the relevant congressional committees before 
     the designation; and
       ``(B) in-person briefings to such committees, if requested 
     during the 30-day advance notification period described in 
     subparagraph (A).
       ``(3) Directorate.--The term `Directorate' means the 
     Directorate for Technology established under subsection (b).
       ``(4) Institution of higher education.--The term 
     `institution of higher education' has the meaning given the 
     term in section 101(a) of the Higher Education Act of 1965 
     (20 U.S.C. 1001(a)).
       ``(5) Key technology focus areas.--The term `key technology 
     focus areas' means the areas included on the most recent list 
     under subsection (c)(2).
       ``(6) Relevant congressional committees.--The term 
     `relevant congressional committees' means--
       ``(A) the Committee on Armed Services, the Committee on 
     Commerce, Science, and Transportation, the Committee on 
     Appropriations, the Committee on Foreign Relations, and the 
     Select Committee on Intelligence of the Senate; and
       ``(B) the Committee on Armed Services, the Committee on 
     Science, Space, and Technology, the Committee on 
     Appropriations, the Committee on Foreign Affairs, and the 
     Permanent Select Committee on Intelligence of the House of 
     Representatives.
       ``(b) Establishment.--
       ``(1) In general.--Not later than 90 days after the date of 
     enactment of the Endless Frontier Act, the Director shall 
     establish in the Foundation a Directorate for Technology. The 
     Directorate shall carry out the duties and responsibilities 
     described in this section, in order to further the following 
     goals:
       ``(A) Strengthening the leadership of the United States in 
     critical technologies through fundamental research in the key 
     technology focus areas.
       ``(B) Enhancing the competitiveness of the United States in 
     the key technology focus areas by improving education in the 
     key technology focus areas and attracting more students to 
     such areas.
       ``(C) Consistent with the operations of the Foundation, 
     fostering the economic and societal impact of federally 
     funded research and development through an accelerated 
     translation of fundamental advances in the key technology 
     focus areas into processes and products that can help achieve 
     national goals related to economic competitiveness, domestic 
     manufacturing, national security, shared prosperity, energy 
     and the environment, health, education and workforce 
     development, and transportation.
       ``(2) Deputy director.--The Directorate shall be headed by 
     the Deputy Director.
       ``(3) Organization and administrative matters.--
       ``(A) Hiring authority.--
       ``(i) Experts in science and engineering.--The Director 
     shall have the authority to carry out a program of personnel 
     management authority for the Directorate in the same manner, 
     and subject to the same requirements, as the program of 
     personnel management authority authorized for the Director of 
     the Defense Advanced Research Projects Agency under section 
     1599h of title 10, United States Code, for the Defense 
     Advanced Research Projects Agency.
       ``(ii) Highly qualified experts in needed occupations.--In 
     addition to the authority provided under clause (i), the 
     Director shall have the authority to carry out a program of 
     personnel management authority for the Directorate in the 
     same manner, and subject to the same requirements, as the 
     program to attract highly qualified experts carried out by 
     the Secretary of Defense under section 9903 of title 5, 
     United States Code.
       ``(iii) Additional hiring authority.--To the extent needed 
     to carry out the duties in paragraph (1), the Director shall 
     utilize hiring authorities under section 3372 of title 5, 
     United States Code, to staff the Directorate with employees 
     from other Federal agencies, State and local governments, 
     Indian tribes and tribal organizations, institutions of 
     higher education, and other organizations, as described in 
     that section, in the same manner and subject to the same 
     conditions, that apply to such individuals utilized to 
     accomplish other missions of the Foundation.
       ``(B) Program managers.--The employees of the Directorate 
     may include program managers for the key technology focus 
     areas, who shall perform a role similar to programs managers 
     employed by the Defense Advanced Research Projects Agency for 
     the oversight and selection of programs supported by the 
     Directorate.
       ``(C) Selection of recipients.--Recipients of support under 
     the programs and activities of the Directorate shall be 
     selected by program managers or other employees of the 
     Directorate. The Directorate may use a peer review process to 
     inform the decisions of program managers or other employees.
       ``(D) Assistant directors.--The Director may appoint 1 or 
     more Assistant Directors for the Directorate as the Director 
     determines necessary, in the same manner as other Assistant 
     Directors of the Foundation are appointed.
       ``(4) Report.--Not later than 120 days after the date of 
     enactment of the Endless Frontier Act, the Director shall 
     prepare and submit a report to the relevant congressional 
     committees regarding the establishment of the Directorate.
       ``(c) Duties and Functions of the Directorate.--
       ``(1) Development of technology focus of the directorate.--
     The Director, acting through the Deputy Director, shall--
       ``(A) advance innovation in the key technology focus areas 
     through fundamental research and other activities described 
     in this section; and
       ``(B) develop and implement strategies to ensure that the 
     activities of the Directorate are directed toward the key 
     technology focus areas in order to accomplish the goals 
     described in subparagraphs (A) through (C) of subsection 
     (b)(1) consistent with the most recent report conducted under 
     section 5(b) of the Endless Frontier Act.
       ``(2) Key technology focus areas.--
       ``(A) Initial list.--The initial key technology focus areas 
     are--
       ``(i) artificial intelligence and machine learning;
       ``(ii) high performance computing, semiconductors, and 
     advanced computer hardware;
       ``(iii) quantum computing and information systems;
       ``(iv) robotics, automation, and advanced manufacturing;
       ``(v) natural or anthropogenic disaster prevention;
       ``(vi) advanced communications technology;
       ``(vii) biotechnology, genomics, and synthetic biology;
       ``(viii) cybersecurity, data storage, and data management 
     technologies;
       ``(ix) advanced energy; and
       ``(x) materials science, engineering, and exploration 
     relevant to the other key technology focus areas described in 
     this subparagraph.
       ``(B) Review of key technology focus areas and subsequent 
     lists.--
       ``(i) Adding or deleting key technology focus areas.--
     Beginning on the date that is 4 years after the date of 
     enactment of the Endless Frontier Act, and every 4 years 
     thereafter, the Director, acting through the Deputy 
     Director--

       ``(I) shall, in consultation with the Board of Advisors, 
     review the list of key technology focus areas; and
       ``(II) as part of that review, may add or delete key 
     technology focus areas if the competitive threats to the 
     United States have shifted (whether because the United States 
     or other nations have advanced or fallen behind in a 
     technological area), subject to clause (ii).

       ``(ii) Limit on key technology focus areas.--Not more than 
     10 key technology focus areas shall be included on the list 
     of key technology focus areas at any time.
       ``(iii) Updating focus areas and distribution.--Upon the 
     completion of each review under this subparagraph, the 
     Director shall make the list of key technology focus areas 
     readily available and publish the list in the Federal 
     Register, even if no changes have been made to the prior 
     list.
       ``(3) Activities.--
       ``(A) In general.--In carrying out the duties and functions 
     of the Directorate, the Director, acting through the Deputy 
     Director, may--
       ``(i) award grants, cooperative agreements, and contracts 
     to--

       ``(I) individual institutions of higher education for work 
     at centers or by individual researchers;
       ``(II) not-for-profit entities; and
       ``(III) consortia that--

       ``(aa) shall include and be led by an institution of higher 
     education, and may include 1 or more additional institutions 
     of higher education;
       ``(bb) may include 1 or more entities described in 
     subclause (I) or (II) and, if determined appropriate by the 
     Director, for-profit entities, including small businesses; 
     and
       ``(cc) may include 1 or more entities described in 
     subclause (I) or (II) from treaty allies and security 
     partners of the United States;
       ``(ii) provide funds to other divisions of the Foundation, 
     including--

       ``(I) to the other directorates of the Foundation to pursue 
     basic questions about natural and physical phenomena that 
     could enable advances in the key technology focus areas;
       ``(II) to the Directorate for Social, Behavioral, and 
     Economic Sciences to study questions that could affect the 
     design, operation, deployment, or the social and ethical 
     consequences of technologies in the key technology focus 
     areas; and
       ``(III) to the Directorate for Education and Human 
     Resources to further the creation of a domestic workforce 
     capable of advancing the key technology focus areas;

       ``(iii) provide funds to other Federal research agencies, 
     including the National Institute of Standards and Technology, 
     for intramural or extramural work in the key technology focus 
     areas;
       ``(iv) make awards under the SBIR and STTR programs (as 
     defined in section 9(e) of the Small Business Act (15 U.S.C. 
     638(e)) in the same manner as awards under such programs are 
     made by the Director of the Foundation;

[[Page S2599]]

       ``(v) administer prize challenges under section 24 of the 
     Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. 
     3719) in the key technology focus areas, in order to expand 
     public-private partnerships beyond direct research funding; 
     and
       ``(vi) enter into and perform such contracts, including 
     cooperative research and development arrangements and grants 
     and cooperative agreements or other transactions, as may be 
     necessary in the conduct of the work of the Directorate and 
     on such terms as the Deputy Director considers appropriate, 
     in furtherance of the purposes of this Act.
       ``(B) Reports.--Not later than 180 days after the date of 
     enactment of the Endless Frontier Act, the Director shall 
     prepare and submit to the relevant congressional committees a 
     spending plan for the next 5 years for each of the activities 
     described in subparagraph (A), including--
       ``(i) a plan to seek out additional investments from--

       ``(I) certain designated countries; and
       ``(II) if appropriate, private sector entities; and

       ``(ii) the planned activities of the Directorate to secure 
     federally funded science and technology pursuant to section 
     1746 of the National Defense Authorization Act for Fiscal 
     Year 2020 (Public Law 116-92).
       ``(C) Annual briefing.--Each year, the Director shall 
     formally request a briefing from the Director of the Federal 
     Bureau of Investigation and the Director of the National 
     Counterintelligence and Security Center regarding their 
     efforts to preserve the United States' advantages generated 
     by the activity of the Directorate.
       ``(4) Interagency cooperation.--In carrying out this 
     section, the Director and other Federal research agencies 
     shall work cooperatively with each other to further the goals 
     of this section in the key technology focus areas. Each year, 
     the Director shall prepare and submit a report to Congress, 
     and shall simultaneously submit the report to the Director of 
     the Office of Science and Technology Policy, describing the 
     interagency cooperation that occurred during the preceding 
     year pursuant to this paragraph, including a list of--
       ``(A) any funds provided under paragraph (3)(A)(ii) to 
     other divisions of the Foundation; and
       ``(B) any funds provided under paragraph (3)(A)(iii) to 
     other Federal research agencies.
       ``(5) Providing scholarships, fellowships, and other 
     student support.--
       ``(A) In general.--The Director, acting through the 
     Directorate, shall fund undergraduate scholarships, graduate 
     fellowships and traineeships, and postdoctoral student awards 
     in the key technology focus areas.
       ``(B) Implementation.--The Director may carry out 
     subparagraph (A) by providing funds--
       ``(i) to the Directorate for Education and Human Resources 
     of the Foundation for--

       ``(I) awards directly to students; and
       ``(II) grants or cooperative agreements to institutions of 
     higher education, including those institutions involved in 
     operating university technology centers established under 
     paragraph (6); and

       ``(ii) to programs in Federal research agencies that have 
     experience awarding such scholarships, fellowships, 
     traineeships, or postdoctoral awards.
       ``(C) Supplement, not supplant.--The Director shall ensure 
     that funds made available under this paragraph shall be used 
     to create additional support for postsecondary students and 
     shall not displace funding for any other available support.
       ``(6) University technology centers.--
       ``(A) In general.--From amounts made available to the 
     Directorate, the Director shall, through a competitive 
     application and selection process, award grants to or enter 
     into cooperative agreements with institutions of higher 
     education or consortia described in paragraph (3)(A)(i)(III) 
     to establish university technology centers.
       ``(B) Uses of funds.--
       ``(i) In general.--A center established under a grant or 
     cooperative agreement under subparagraph (A)--

       ``(I) shall use support provided under such subparagraph--

       ``(aa) to carry out fundamental research to advance 
     innovation in the key technology focus areas; and
       ``(bb) to further the development of innovations in the key 
     technology focus areas, including--
       ``(AA) innovations derived from research carried out under 
     item (aa), through such activities as proof-of-concept 
     development and prototyping, in order to reduce the cost, 
     time, and risk of commercializing new technologies; and
       ``(BB) through the use of public-private partnerships; and

       ``(II) may use support provided under such subparagraph--

       ``(aa) for the costs of equipment, including mid-tier 
     infrastructure, and the purchase of cyberinfrastructure 
     resources, including computer time; or
       ``(bb) for other activities or costs necessary to 
     accomplish the purposes of this section.
       ``(ii) Support of regional technology hubs.--Each center 
     established under subparagraph (A) may support and 
     participate in, as appropriate, the activities of any 
     regional technology hub designated under section 27(d) of the 
     Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. 
     3722(d)).
       ``(C) Requirements.--The Director shall ensure that any 
     institution of higher education or consortium receiving a 
     grant or cooperative agreement under subparagraph (A) has 
     demonstrated an ability to advance the goals described in 
     subsection (b)(1).
       ``(7) Moving technology from laboratory to market.--
       ``(A) Program authorized.--The Director shall establish a 
     program in the Directorate to award grants, on a competitive 
     basis, to institutions of higher education or consortia 
     described in paragraph (3)(A)(i)(III)--
       ``(i) to build capacity at an institution of higher 
     education and in its surrounding region to increase the 
     likelihood that new technologies in the key technology focus 
     areas will succeed in the commercial market; and
       ``(ii) with the goal of promoting experiments with a range 
     of models that institutions of higher education could use 
     to--

       ``(I) enable new technologies to mature to the point where 
     the technologies are more likely to succeed in the commercial 
     market; and
       ``(II) reduce the risks to commercial success for new 
     technologies earlier in their development.

     A grant awarded under this subparagraph for a purpose 
     described in clause (i) or (ii) may also enable the 
     institution of higher education or consortium to provide 
     training and support to scientists and engineers who are 
     interested in research and commercialization, if the use is 
     included in the proposal submitted under subparagraph (B).
       ``(B) Proposals.--An institution of higher education or 
     consortium desiring a grant under this paragraph shall submit 
     a proposal to the Director at such time, in such manner, and 
     containing such information as the Director may require. The 
     proposal shall include a description of--
       ``(i) the steps the applicant will take to reduce the risks 
     for commercialization for new technologies;
       ``(ii) why such steps are likely to be effective; and
       ``(iii) how such steps differ from previous efforts to 
     reduce the risks for commercialization for new technologies.
       ``(C) Use of funds.--A recipient of a grant under this 
     paragraph shall use grant funds to reduce the risks for 
     commercialization for new technologies developed on campus, 
     which may include--
       ``(i) creating and funding competitions to allow 
     entrepreneurial ideas from institutions of higher education 
     to illustrate their commercialization potential;
       ``(ii) facilitating mentorships between local and national 
     business leaders and potential entrepreneurs to encourage 
     successful commercialization;
       ``(iii) creating and funding for-profit or not-for-profit 
     entities that could enable researchers at institutions of 
     higher education to further develop new technology prior to 
     seeking commercial financing, through patient funding, 
     advice, staff support, or other means;
       ``(iv) providing off-campus facilities for start-up 
     companies where technology maturation could occur; and
       ``(v) revising institution policies to accomplish the goals 
     of this paragraph.
       ``(8) Test beds.--
       ``(A) Program authorized.--The Director, acting through the 
     Deputy Director, shall establish a program in the Directorate 
     to award grants, on a competitive basis, to institutions of 
     higher education or consortia described in paragraph 
     (3)(A)(i)(III) to establish test beds and fabrication 
     facilities to advance the operation, integration and, as 
     appropriate, manufacturing of new, innovative technologies in 
     the key technology focus areas, which may include hardware or 
     software. The goal of such test beds and facilities shall be 
     to accelerate the movement of innovative technologies into 
     the commercial market through existing and new companies.
       ``(B) Proposals.--A proposal submitted under this paragraph 
     shall, at a minimum, describe--
       ``(i)(I) the 1 or more technologies that will be the focus 
     of the test bed or fabrication facility;
       ``(II) the goals of the work to be done at the test bed or 
     facility; and
       ``(III) the expected schedule for completing that work;
       ``(ii) how the applicant will assemble a workforce with the 
     skills needed to operate the test bed or facility;
       ``(iii) how the applicant will ensure that work in the test 
     bed or facility will contribute to the commercial viability 
     of any technologies, which may include collaboration and 
     funding from industry partners;
       ``(iv) how the applicant will encourage the participation 
     of entrepreneurs and the development of new businesses; and
       ``(v) how the test bed or facility will operate after 
     Federal funding has ended.
       ``(C) Awards.--Grants made under this paragraph--
       ``(i) shall be for 5 years, with the possibility of one 3-
     year extension; and
       ``(ii) may be used for the purchase of equipment, the 
     support of graduate students and postdoctoral researchers, 
     and the salaries of staff.
       ``(D) Requirements.--As a condition of receiving a grant 
     under this paragraph, an institution of higher education or 
     consortium shall publish and share with the public the 
     results of the work conducted under this paragraph.

[[Page S2600]]

       ``(9) Inapplicability.--Section 5(e)(1) shall not apply to 
     grants, contracts, or other arrangements made under this 
     section.
       ``(d) Board of Advisors.--
       ``(1) In general.--There is established in the Foundation a 
     Board of Advisors for the Directorate (referred to in this 
     section as the `Board of Advisors'), which shall provide 
     advice to the Deputy Director pursuant to this subsection. 
     The Board of Advisors shall not have any decision-making 
     authority.
       ``(2) Membership.--
       ``(A) Composition.--The Board of Advisors shall be 
     comprised of 12 members representing scientific leaders and 
     experts from industry and academia, of whom--
       ``(i) 2 shall be appointed by the majority leader of the 
     Senate;
       ``(ii) 2 shall be appointed by the minority leader of the 
     Senate;
       ``(iii) 2 shall be appointed by the Speaker of the House of 
     Representatives;
       ``(iv) 2 shall be appointed by the minority leader of the 
     House of Representatives; and
       ``(v) 4 shall be appointed by the Director.
       ``(B) Opportunity for input.--Before appointing any member 
     under subparagraph (A), the appointing authority shall 
     provide an opportunity for the National Academies of 
     Sciences, Engineering, and Medicine and other entities to 
     provide advice regarding potential appointees.
       ``(C) Qualifications.--
       ``(i) In general.--Each member appointed under subparagraph 
     (A) shall--

       ``(I) have extensive experience in a field related to the 
     work of the Directorate or other expertise relevant to 
     developing technology roadmaps; and
       ``(II) have, or be able to obtain within a reasonable 
     period of time, a security clearance appropriate for the work 
     of the Board of Advisors.

       ``(ii) Expedited security clearances.--The process of 
     obtaining a security clearance under clause (i)(II) may be 
     expedited by the head of the appropriate Federal agency to 
     enable the Board to receive classified briefings on the 
     current and future technological capacity of other nations, 
     and on the military implications of civilian technologies.
       ``(D) Date.--The appointments of the members of the Board 
     of Advisors shall be made not later than 90 days after the 
     date of enactment of the Endless Frontier Act.
       ``(3) Period of appointment; vacancies.--
       ``(A) In general.--A member of the Board of Advisors shall 
     be appointed for a 3-year term, except that the Deputy 
     Director shall adjust the terms for the first members of the 
     Board of Advisors so that, within each appointment category 
     described in clauses (i) through (v) of paragraph (2)(A), the 
     terms expire on a staggered basis.
       ``(B) Term limits.--A member of the Board of Advisors shall 
     not serve for more than 2 full consecutive terms.
       ``(C) Vacancies.--Any vacancy in the Board of Advisors--
       ``(i) shall not affect the powers of the Board of Advisors; 
     and
       ``(ii) shall be filled in the same manner as the original 
     appointment.
       ``(4) Chairperson.--The members of the Board of Advisors 
     shall elect 1 member to serve as the chairperson of the Board 
     of Advisors.
       ``(5) Meetings.--
       ``(A) Initial meeting.--Not later than 180 days after the 
     date of enactment of the Endless Frontier Act, the Board of 
     Advisors shall hold the first meeting of the Board of 
     Advisors.
       ``(B) Additional meetings.--After the first meeting of the 
     Board of Advisors, the Board of Advisors shall meet upon the 
     call of the chairperson or of the Director, and at least once 
     every 180 days for the duration of the Board of Advisors.
       ``(C) Meeting with the national science board.--The Board 
     of Advisors shall hold a joint meeting with the National 
     Science Board on at least an annual basis, on a date mutually 
     selected by the chairperson of the Board of Advisors and the 
     Chairman of the National Science Board.
       ``(D) Quorum.--A majority of the members of the Board of 
     Advisors shall constitute a quorum, but a lesser number of 
     members may hold hearings.
       ``(6) Duties of board of advisors.--
       ``(A) In general.--The Board of Advisors shall provide 
     advice--
       ``(i) to the Deputy Director on programs that could best be 
     carried out to accomplish the purposes of this section;
       ``(ii) to the Deputy Director to inform the reviews of key 
     technology focus areas required under subsection (c)(2)(B); 
     and
       ``(iii) on other issues relating to the purposes and 
     responsibilities of the Directorate, as requested by the 
     Deputy Director.
       ``(B) No role in awarding grants, contracts, or cooperative 
     agreements.--The Board of Advisors shall not provide advice 
     on or otherwise help determine what entities shall receive 
     grants, contracts, or cooperative agreements under this Act.
       ``(7) Powers of board of advisors.--
       ``(A) Hearings.--The Board of Advisors may hold public or 
     private hearings, sit and act at such times and places, take 
     such testimony and receive such evidence (including 
     classified testimony and evidence), and administer such oaths 
     as may be necessary to carry out the functions of the Board 
     of Advisors under paragraph (6).
       ``(B) Information from federal agencies.--
       ``(i) In general.--Each Federal department or agency shall, 
     in accordance with applicable procedures for the handling of 
     classified information, provide reasonable access to 
     documents, statistical data, and other such information that 
     the Deputy Director, in consultation with the chairperson of 
     the Board of Advisors, determines necessary to carry out its 
     functions under paragraph (6).
       ``(ii) Obtaining classified information.--If the Board of 
     Advisors, acting through the chairperson, seeks classified 
     information from a Federal department or agency, the Deputy 
     Director shall submit a written request to the head of the 
     Federal department or agency for access to classified 
     documents and statistical data, and other classified 
     information described in clause (i), that is under the 
     control of such agency.
       ``(C) Financial disclosure reports.--Each member of the 
     Board of Advisors shall be required to file a financial 
     disclosure report under title I of the Ethics in Government 
     Act of 1978, except that such reports shall be held 
     confidential and exempt from any law otherwise requiring 
     their public disclosure.
       ``(8) Board of advisors personnel and operational 
     matters.--
       ``(A) Compensation of members.--
       ``(i) In general.--A member of the Board of Advisors shall 
     be compensated at a rate equal to the daily equivalent of the 
     annual rate of basic pay prescribed for level IV of the 
     Executive Schedule under section 5315 of title 5, United 
     States Code, for each day (including travel time) during 
     which the member is engaged in the performance of the duties 
     of the Board of Advisors.
       ``(ii) No federal employee members.--No member of the Board 
     of Advisors may be an officer or employee of the United 
     States during the member's term on the Board of Advisors.
       ``(B) Travel expenses.--A member of the Board of Advisors 
     shall be allowed travel expenses, including per diem in lieu 
     of subsistence, at rates authorized for employees of agencies 
     under subchapter I of chapter 57 of title 5, United States 
     Code, while away from their home or regular places of 
     business in the performance of services for the Board of 
     Advisors.
       ``(C) Staff.--The Deputy Director, in consultation with the 
     chairperson of the Board of Advisors, shall assign an 
     employee of the Foundation to serve as an executive director 
     for the Board of Advisors.
       ``(D) Government employees.--
       ``(i) In general.--Any Federal Government employee may be 
     detailed to the Board of Advisors without reimbursement, and 
     such detail shall be without interruption or loss of civil 
     service status or privilege.
       ``(ii) Employees of the legislative branch.--The Deputy 
     Director shall establish procedures and policies to enable an 
     employee of an office, agency, or other entity in the 
     legislative branch of the Government to support the 
     activities of the Board of Advisors.
       ``(E) Procurement of temporary and intermittent services.--
     The chairperson of the Board of Advisors, with approval from 
     the Deputy Director, may procure temporary and intermittent 
     services under section 3109(b) of title 5, United States 
     Code, at rates for individuals which do not exceed the daily 
     equivalent of the annual rate of basic pay prescribed for 
     level V of the Executive Schedule under section 5316 of that 
     title.
       ``(F) Assistance from federal agencies.--A Federal 
     department or agency may provide to the Board of Advisors 
     such services, funds, facilities, staff, and other support 
     services as the department or agency may determine advisable 
     and as may be authorized by law.
       ``(9) Permanent board.--Section 14 of the Federal Advisory 
     Committee Act (5 U.S.C. App.) shall not apply to the Board of 
     Advisors.
       ``(e) Areas of Funding Support.--Subject to the 
     availability of funds under subsection (f), the Director 
     shall, for each fiscal year, use--
       ``(1) not less than 35 percent of funds provided to the 
     Directorate for such year to carry out subsection (c)(6);
       ``(2) not less than 15 percent of such funds to carry out 
     subsection (c)(5) with the goal of awarding, across the key 
     technology focus areas--
       ``(A) not fewer than 1,000 post-doctorate fellowships;
       ``(B) not fewer than 2,000 graduate fellowships and 
     traineeships;
       ``(C) not fewer than 1,000 undergraduate scholarships; and
       ``(D) if funds remain after carrying out subparagraphs (A) 
     through (C), grants to institutions of higher education to 
     enable the institutions to fund the development and 
     establishment of new or specialized courses of education for 
     graduate, undergraduate, or technical college students;
       ``(3) not less than 5 percent of such funds to carry out 
     subsection (c)(7);
       ``(4) not less than 10 percent of such funds to carry out 
     subsection (c)(8) by establishing and equipping test beds and 
     fabrication facilities; and
       ``(5) not less than 15 percent of such funds to carry out 
     research and related activities pursuant to subclauses (I) 
     and (II) of subsection (c)(3)(A)(ii).
       ``(f) Authorization of Appropriations.--
       ``(1) In general.--There are authorized to be appropriated 
     for the Directorate, in addition to any other funds made 
     available to the Directorate, a total of $100,000,000,000 for 
     fiscal years 2021 through 2025, of which--
       ``(A) $2,000,000,000 is authorized for fiscal year 2021;
       ``(B) $8,000,000,000 is authorized for fiscal year 2022;

[[Page S2601]]

       ``(C) $20,000,000,000 is authorized for fiscal year 2023;
       ``(D) $35,000,000,000 is authorized for fiscal year 2024; 
     and
       ``(E) $35,000,000,000 is authorized for fiscal year 2025.
       ``(2) Appropriations limitations.--
       ``(A) Hold harmless.--No funds shall be appropriated to the 
     Directorate or to carry out this section for any fiscal year 
     in which the total amount appropriated to the Foundation (not 
     including amounts appropriated for the Directorate) is less 
     than the total amount appropriated to the Foundation (not 
     including such amounts), adjusted by the rate of inflation, 
     for the previous fiscal year.
       ``(B) No transfer of funds.--The Director shall not 
     transfer any funds appropriated to any other directorate or 
     office of the Foundation to the Directorate.''.
       (d) Annual Report on Unfunded Priorities.--
       (1) Annual report.--Not later than 10 days after the date 
     on which the budget of the President for a fiscal year is 
     submitted to Congress pursuant to section 1105 of title 31, 
     United States Code, the Director shall submit to the 
     President and to Congress a report on the unfunded priorities 
     of the National Science and Technology Foundation.
       (2) Elements.--Each report submitted under paragraph (1) 
     shall provide--
       (A) for each directorate of the National Science Foundation 
     for the most recent, fully completed fiscal year--
       (i) the proposal success rate;
       (ii) the percentage of proposals that were not funded and 
     that met the criteria for funding; and
       (iii) the most promising research areas covered by 
     proposals described in clause (ii); and
       (B) a list, in order of priority, of the next activities 
     that should be undertaken in the Major Research Equipment and 
     Facilities Construction account.

     SEC. 4. REGIONAL TECHNOLOGY HUB PROGRAM.

       (a) Definitions.--
       (1) Key technology focus areas.--Subsection (a) of section 
     27 of the Stevenson-Wydler Technology Innovation Act of 1980 
     (15 U.S.C. 3722) is amended--
       (A) by redesignating paragraphs (2) through (4) as 
     paragraphs (3) through (5), respectively; and
       (B) by inserting after paragraph (1) the following:
       ``(2) Key technology focus areas.--The term `key technology 
     focus areas' means the areas included on the most recent list 
     under section 8A(c)(2) of the Act of May 10, 1950 (64 Stat. 
     149, chapter 171; 42 U.S.C. 1861 et seq.).''.
       (2) Venture development organizations.--Paragraph (5) of 
     such subsection, as redesignated by paragraph (1) of this 
     subsection, is amended by striking ``purposes of'' and all 
     that follows through the period at the end and inserting the 
     following: ``purposes of--
       ``(A) accelerating the commercialization of research;
       ``(B) strengthening the competitive position of industry 
     through the development, commercial adoption, or deployment 
     of technology; and
       ``(C) providing financial grants, loans, or direct 
     financial investment to commercialize technology.''.
       (b) Designation of and Support for Regional Technology Hubs 
     as Part of Regional Innovation Program of Department of 
     Commerce.--
       (1) In general.--Such section is amended--
       (A) by redesignating subsections (d) through (h) as 
     subsections (e) through (i), respectively; and
       (B) by inserting after subsection (c) the following:
       ``(d) Designation of and Grants in Support of Regional 
     Technology Hubs.--
       ``(1) Program required.--
       ``(A) In general.--As part of the program established under 
     subsection (b), the Secretary shall carry out a program--
       ``(i) to designate eligible consortia as regional 
     technology hubs that create the conditions, within a region, 
     to facilitate activities that--

       ``(I) enable United States leadership in a key technology 
     focus area, complementing the Federal research and 
     development investments under section 8A of the Act of May 
     10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C. 1861 et seq.); 
     and
       ``(II) support regional economic development that diffuses 
     innovation capacity around the United States, enabling better 
     broad-based growth and competitiveness in key technology 
     focus areas; and

       ``(ii) to support regional technology hubs designated under 
     clause (i).
       ``(B) Eligible consortia.--For purposes of this section, an 
     eligible consortium is a consortium that--
       ``(i) includes--

       ``(I) an institution of higher education;
       ``(II) a local or Tribal government or other political 
     subdivision of a State;
       ``(III) a government of a State or the economic development 
     representative of a State; and
       ``(IV) an economic development organization or similar 
     entity that is focused primarily on improving science, 
     technology, innovation, or entrepreneurship; and

       ``(ii) may include 1 or more--

       ``(I) nonprofit entities with relevant expertise;
       ``(II) venture development organizations;
       ``(III) financial institutions;
       ``(IV) educational institutions, including career and 
     technical education schools;
       ``(V) workforce training organizations;
       ``(VI) industry associations;
       ``(VII) firms in the key technology focus areas;
       ``(VIII) Federal laboratories;
       ``(IX) Centers (as defined in section 25(a) of the National 
     Institute of Standards and Technology Act (15 U.S.C. 
     278k(a));
       ``(X) Manufacturing USA institutes (as described in section 
     34(d) of the National Institute of Standards and Technology 
     Act (15 U.S.C. 278s(d))); and
       ``(XI) institutions receiving an award under paragraph (6) 
     or (7) of section 8A(c) of the Act of May 10, 1950 (64 Stat. 
     149, chapter 171; 42 U.S.C. 1861 et seq.).

       ``(C) Administration.--The Secretary shall carry out this 
     subsection through the Assistant Secretary of Commerce for 
     Economic Development and the Under Secretary of Commerce for 
     Standards and Technology, jointly.
       ``(2) Designation of regional technology hubs.--
       ``(A) In general.--The Secretary shall use a competitive 
     process for the designation of regional technology hubs under 
     paragraph (1)(A)(i).
       ``(B) Number of regional technology hubs.--During the 5-
     year period beginning on the date of the enactment of the 
     Endless Frontier Act, the Secretary shall designate not fewer 
     than 10 and not more than 15 eligible consortia as regional 
     technology hubs under paragraph (1)(A)(i).
       ``(C) Geographic distribution.--In conducting the 
     competitive process under subparagraph (A), the Secretary 
     shall ensure geographic distribution in the designation of 
     regional technology hubs--
       ``(i) aiming to designate regional technology hubs in as 
     many regions of the United States as possible; and
       ``(ii) focusing on localities that have clear potential and 
     relevant assets for developing a key technology focus area 
     but have not yet become leading technology centers.
       ``(3) Grants.--
       ``(A) In general.--The Secretary shall carry out clause 
     (ii) of paragraph (1)(A) through the award of grants to 
     eligible consortia designated under clause (i) of such 
     paragraph.
       ``(B) Term.--Each grant awarded under subparagraph (A) 
     shall be for a period of 5 years, but may be renewed once for 
     an additional period of 5 years.
       ``(C) Matching required.--The total Federal financial 
     assistance awarded in a given year to an eligible consortium 
     in support of the eligible consortium's operation as a 
     regional technology hub under this subsection shall not 
     exceed amounts as follows:
       ``(i) In fiscal year 2021, 90 percent of the total funding 
     of the regional technology hub in that fiscal year.
       ``(ii) In fiscal year 2022, 85 percent of the total funding 
     of the regional technology hub in that fiscal year.
       ``(iii) In fiscal year 2023, 80 percent of the total 
     funding of the regional technology hub in that fiscal year.
       ``(iv) In fiscal year 2024 and in each fiscal year 
     thereafter, 75 percent of the total funding of the regional 
     technology hub in that fiscal year.
       ``(D) Use of grant funds.--The recipient of a grant awarded 
     under subparagraph (A) shall use the grant for multiple 
     activities determined appropriate by the Secretary, 
     including--
       ``(i) the permissible activities set forth under subsection 
     (c)(2); and
       ``(ii) activities in support of key technology focus 
     areas--

       ``(I) to develop the region's skilled workforce through the 
     training and retraining of workers and alignment of career 
     technical training and educational programs in the region's 
     elementary and secondary schools and institutions of higher 
     education;
       ``(II) to develop regional strategies for infrastructure 
     improvements and site development in support of the regional 
     technology hub's plans and programs;
       ``(III) to support business activity that develops the 
     domestic supply chain and encourages the creation of new 
     business entities;
       ``(IV) to attract new private, public, and philanthropic 
     investment in the region for developing innovation capacity, 
     including establishing regional venture and loan funds for 
     financing technology commercialization, new business 
     formation, and business expansions;
       ``(V) to further the development of innovations in the key 
     technology focus areas, including innovations derived from 
     research conducted at institutions of higher education or 
     other research entities, including research conducted by 1 or 
     more university technology centers established under section 
     8A(c)(6) of the Act of May 10, 1950 (64 Stat. 149, chapter 
     171; 42 U.S.C. 1861 et seq.), through activities that may 
     include--

       ``(aa) proof-of-concept development and prototyping;
       ``(bb) public-private partnerships in order to reduce the 
     cost, time, and risk of commercializing new technologies;
       ``(cc) creating and funding competitions to allow 
     entrepreneurial ideas from institutions of higher education 
     to illustrate their commercialization potential;
       ``(dd) facilitating mentorships between local and national 
     business leaders and potential entrepreneurs to encourage 
     successful commercialization;

[[Page S2602]]

       ``(ee) creating and funding for-profit or not-for-profit 
     entities that could enable researchers at institutions of 
     higher education and other research entities to further 
     develop new technology prior to seeking commercial financing, 
     through patient funding, advice, staff support, or other 
     means; and
       ``(ff) providing facilities for start-up companies where 
     technology maturation could occur; and

       ``(VI) to carry out such other activities as the Secretary 
     considers appropriate to improve United States 
     competitiveness and regional economic development to support 
     a key technology focus area and that would further the 
     purposes of the Endless Frontiers Act.

       ``(4) Applications.--
       ``(A) In general.--An eligible consortium seeking 
     designation as a regional technology hub under clause (i) of 
     paragraph (1)(A) and support under clause (ii) of such 
     paragraph shall submit to the Secretary an application 
     therefor at such time, in such manner, and containing such 
     information as the Secretary may specify.
       ``(B) Consultation with national science foundation 
     university technology centers.--In preparing an application 
     for submittal under subparagraph (A), an applicant shall, to 
     the extent practicable, consult with one or more university 
     technology centers established under section 8A(c)(6) of the 
     Act of May 10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C. 
     1861 et seq.) that are either geographically relevant or are 
     conducting research on relevant key technology focus areas.
       ``(5) Considerations for designation and grant awards.--In 
     selecting an eligible consortium that submitted an 
     application under paragraph (4)(A) for designation and 
     support under paragraph (1)(A), the Secretary shall consider, 
     at a minimum, the following:
       ``(A) The potential of the eligible consortium to advance 
     the development of new technologies in a key technology focus 
     area.
       ``(B) The likelihood of positive regional economic effect, 
     including increasing the number of high wage jobs, and 
     creating new economic opportunities for economically 
     disadvantaged populations.
       ``(C) How the eligible consortium plans to integrate with 
     and leverage the resources of one or more university 
     technology centers established under section 8A(c)(6) of the 
     Act of May 10, 1950 (64 Stat. 149, chapter 171; 42 U.S.C. 
     1861 et seq.) in a related key technology focus area.
       ``(D) How the eligible consortium will engage with the 
     private sector, including small- and medium-sized enterprises 
     to commercialize new technologies and develop new supply 
     chains in the United States in a key technology focus area.
       ``(E) How the eligible consortium will carry out workforce 
     development and skills acquisition programming, including 
     through the use of apprenticeships, mentorships, and other 
     related activities authorized by the Secretary, to support 
     the development of a key technology focus area.
       ``(F) How the eligible consortium will improve science, 
     technology, engineering, and mathematics education programs 
     in the identified region in elementary and secondary school 
     and higher education institutions located in the identified 
     region to support the development of a key technology focus 
     area.
       ``(G) How the eligible consortium plans to develop 
     partnerships with venture development organizations and 
     sources of private investment in support of private sector 
     activity, including launching new or expanding existing 
     companies, in a key technology focus area.
       ``(H) How the eligible consortium plans to organize the 
     activities of regional partners in the public, private, and 
     philanthropic sectors in support of the proposed regional 
     technology hub, including the development of necessary 
     infrastructure improvements and site preparation.
       ``(I) How the eligible consortium plans to address economic 
     inclusion, including ensuring that skill development, 
     entrepreneurial assistance, and other activities focus on 
     economically disadvantaged populations.
       ``(6) Coordination with national institute of standards and 
     technology programs.--
       ``(A) Definitions.--In this paragraph:
       ``(i) Manufacturing extension center.--The term 
     `manufacturing extension center' has the meaning given the 
     term `Center' in section 25(a) of the National Institute of 
     Standards and Technology Act (15 U.S.C. 278k(a).
       ``(ii) Manufacturing usa institute.--The term 
     `Manufacturing USA institute' means a Manufacturing USA 
     institute described in section 34(d) of the National 
     Institute of Standards and Technology Act (15 U.S.C. 
     278s(d)).
       ``(B) Coordination required.--The Secretary shall 
     coordinate the activities of regional technology hubs 
     designated under this subsection, the Hollings Manufacturing 
     Extension Partnership, and the Manufacturing USA Program with 
     each other to the degree that doing so does not diminish the 
     effectiveness of the ongoing activities of a manufacturing 
     extension center or a Manufacturing USA institute.
       ``(C) Condition of support.--In order to coordinate 
     activities under subparagraph (B), the Secretary may 
     condition the award of a grant or support under this 
     subsection or section 25 or 34 of the National Institute of 
     Standards and Technology Act (15 U.S.C. 278k and 278s) upon 
     submittal to the coordination efforts of the Secretary under 
     subparagraph (B) of this paragraph.
       ``(D) Elements.--Coordination by the Secretary under 
     subparagraph (B) may include the following:
       ``(i) The alignment of activities of the Hollings 
     Manufacturing Extension Partnership with the activities of 
     regional technology hubs designated under this subsection, if 
     applicable.
       ``(ii) The alignment of activities of the Manufacturing USA 
     Program and the Manufacturing USA institutes with the 
     activities of regional technology hubs designated under this 
     subsection, if applicable.
       ``(7) Interagency collaboration.--In assisting regional 
     technology hubs designated under paragraph (1)(A)(i), the 
     Secretary--
       ``(A) shall collaborate with Federal departments and 
     agencies whose missions contribute to the goals of the 
     regional technology hub;
       ``(B) may accept funds from other Federal agencies to 
     support grants and activities under this subsection; and
       ``(C) may establish interagency agreements with other 
     Federal departments or agencies to provide preferential 
     consideration for financial or technical assistance to a 
     regional technology hub designated under this subsection if 
     all applicable requirements for the financial or technical 
     assistance are met.
       ``(8) Performance measurement, transparency, and 
     accountability.--
       ``(A) Metrics, standards, and assessment.--For each grant 
     awarded under paragraph (3) for a regional technology hub, 
     the Secretary shall--
       ``(i) develop metrics to assess the effectiveness of the 
     activities funded in making progress toward the purposes set 
     forth under paragraph (1)(A);
       ``(ii) establish standards for the performance of the 
     regional technology hub that are based on the metrics 
     developed under clause (i); and
       ``(iii) 2 years after the initial award under paragraph (3) 
     and each year thereafter until Federal financial assistance 
     under this subsection for the regional technology hub is 
     discontinued, conduct an assessment of the regional 
     technology hub to confirm whether the performance of the 
     regional technology hub is meeting the standards for 
     performance established under clause (ii).
       ``(B) Annual report.--Not less frequently than once each 
     year, the Secretary shall submit to the Committee on 
     Commerce, Science, and Transportation of the Senate, the 
     Committee on Appropriations of the Senate, the Committee on 
     Science, Space, and Technology of the House of 
     Representatives, and the Committee on Appropriations of the 
     House of Representatives an annual report on the results of 
     the assessments conducted by the Secretary under subparagraph 
     (A)(iii) during the period covered by the report.''.
       (2) Initial designations and awards.--
       (A) Competition required.--Not later than 180 days after 
     the date of the enactment of this Act, the Secretary of 
     Commerce shall commence a competition under paragraph (2)(A) 
     of section 27(d) of the Stevenson-Wydler Technology 
     Innovation Act of 1980, as added by paragraph (1).
       (B) Designation and award.--Not later than 1 year after the 
     date of the enactment of this Act, if the Secretary has 
     received at least 1 application under paragraph (4) of such 
     section from an eligible consortium whom the Secretary 
     considers suitable for designation under paragraph (1)(A)(i) 
     of such section, the Secretary shall--
       (i) designate at least 1 regional technology hub under 
     paragraph (1)(A)(i) of such section; and
       (ii) award a grant under paragraph (3)(A) of such section 
     to each regional technology hub designated under clause (i) 
     of this subparagraph.
       (c) Authorization of Appropriations.--Subsection (i) of 
     such section, as redesignated by subsection (c)(1)(A) of this 
     section, is amended--
       (1) by striking ``From amounts'' and inserting the 
     following:
       ``(1) In general.--From amounts'';
       (2) in paragraph (1), as redesignated by paragraph (1) of 
     this subsection, by striking ``this section'' and inserting 
     ``the provisions of this section other than subsection (d)''; 
     and
       (3) by adding at the end the following:
       ``(2) Regional technology hubs.--There is authorized to be 
     appropriated to the Secretary to carry out subsection (d) 
     $10,000,000,000 for the period of fiscal year 2021 through 
     2025.''.

     SEC. 5. STRATEGY AND REPORT ON ECONOMIC SECURITY, SCIENCE, 
                   RESEARCH, AND INNOVATION TO SUPPORT THE 
                   NATIONAL SECURITY STRATEGY.

       (a) Definitions.--In this section:
       (1) Appropriate committees of congress.--The term 
     ``appropriate committees of Congress'' means--
       (A) the Committee on Appropriations, the Committee on Armed 
     Services, the Committee on Banking, Housing, and Urban 
     Affairs, the Committee on Commerce, Science, and 
     Transportation, the Committee on Energy and Natural 
     Resources, the Committee on Finance, the Committee on Foreign 
     Relations, and the Select Committee on Intelligence of the 
     Senate; and
       (B) the Committee on Appropriations, the Committee on Armed 
     Services, the Committee on Energy and Commerce, the Committee 
     on Financial Services, the Committee on Foreign Affairs, the 
     Committee on Ways

[[Page S2603]]

     and Means, and the Permanent Select Committee on Intelligence 
     of the House of Representatives.
       (2) Key technology focus area.--The term ``key technology 
     focus area'' means an area included on the most recent list 
     under section 8A(c)(2) of the Act of May 10, 1950 (64 Stat. 
     149, chapter 171; 42 U.S.C. 1861 et seq.).
       (3) National security strategy.--The term ``national 
     security strategy'' means the national security strategy 
     required by section 108 of the National Security Act of 1947 
     (50 U.S.C. 3043).
       (b) Strategy and Report.--
       (1) In general.--In 2021 and in each year thereafter before 
     the applicable date set forth under paragraph (2), the 
     Director of the Office of Science and Technology Policy, in 
     coordination with the Director of the National Economic 
     Council, the Director of the National Science Foundation, the 
     Secretary of Commerce, the National Security Council, and the 
     heads of other relevant Federal agencies, shall--
       (A) review such strategy, programs, and resources as the 
     Director of the Office of Science and Technology Policy 
     determines pertain to United States national competitiveness 
     in science, research, and innovation to support the national 
     security strategy;
       (B) develop a strategy for the Federal Government to 
     improve the national competitiveness of the United States in 
     science, research, and innovation to support the national 
     security strategy; and
       (C) submit to the appropriate committees of Congress--
       (i) a report on the findings of the Director with respect 
     to the review conducted under paragraph (1); and
       (ii) the strategy developed or revised under paragraph (2).
       (2) Applicable dates.--In each year, the applicable date 
     set forth under this paragraph is as follows:
       (A) In 2021, December 31, 2021.
       (B) In 2022 and every year thereafter--
       (i) in any year in which a new President is inaugurated, 
     October 1 of that year; and
       (ii) in any other year, the date that is 90 days after the 
     date of the transmission to Congress in that year of the 
     national security strategy.
       (c) Elements.--
       (1) Report.--Each report submitted under subsection 
     (b)(1)(C)(i) shall include the following:
       (A) An assessment of public and private investment in 
     civilian and military science and technology and its 
     implications for the geostrategic position and national 
     security of the United States.
       (B) A description of the prioritized economic security 
     interests and objectives of the United States relating to 
     science, research, and innovation and an assessment of how 
     investment in civilian and military science and technology 
     can advance those objectives.
       (C) An assessment of how regional efforts are contributing 
     and could contribute to the innovation capacity of the United 
     States, including--
       (i) programs run by State and local governments; and
       (ii) regional factors that are contributing or could 
     contribute positively to innovation.
       (D) An assessment of barriers to competitiveness in key 
     technology focus areas and barriers to the development and 
     evolution of start-ups, small and mid-sized business 
     entities, and industries in key technology focus areas.
       (E) An assessment of the effectiveness of the Federal 
     Government, federally funded research and development 
     centers, and national labs in supporting and promoting 
     technology commercialization and technology transfer, 
     including an assessment of the adequacy of Federal research 
     and development funding in promoting competitiveness and the 
     development of new technologies.
       (F) An assessment of manufacturing capacity, logistics, and 
     supply chain dynamics of major export sectors, including 
     access to a skilled workforce, physical infrastructure, and 
     broadband network infrastructure.
       (2) Strategy.--Each strategy submitted under subsection 
     (b)(1)(C)(ii) shall include the following:
       (A) A plan to utilize available tools to address or 
     minimize the leading threats and challenges and to take 
     advantage of the leading opportunities, including the 
     following:
       (i) Specific objectives, tasks, metrics, and milestones for 
     each relevant Federal agency.
       (ii) Specific plans to support public and private sector 
     investment in research, technology development, and domestic 
     manufacturing in key technology focus areas supportive of the 
     national economic competitiveness of the United States and to 
     foster the prudent use of public-private partnerships.
       (iii) Specific plans to promote environmental stewardship 
     and fair competition for United States workers.
       (iv) A description of--

       (I) how the strategy submitted under subsection (b)(3)(B) 
     supports the national security strategy; and
       (II) how the strategy submitted under such subsection is 
     integrated and coordinated with the most recent national 
     defense strategy under section 113(g) of title 10, United 
     States Code.

       (v) A plan to encourage the governments of countries that 
     are allies or partners of the United States to cooperate with 
     the execution of the strategy submitted under subsection 
     (b)(3)(B), where appropriate.
       (vi) A plan to encourage certain international and 
     multilateral organizations to support the implementation of 
     such strategy.
       (vii) A plan for how the United States should develop local 
     and regional capacity for building innovation ecosystems 
     across the nation by providing Federal support.
       (viii) A plan for strengthening the industrial base of the 
     United States.
       (B) An identification of additional resources, 
     administrative action, or legislative action recommended to 
     assist with the implementation of such strategy.
       (d) Form of Reports and Strategies.--Each report and 
     strategy submitted under subsection (b) shall be submitted in 
     unclassified form, but may include a classified annex.

     SEC. 6. CONFORMING AMENDMENTS.

       (a) Scientific and Advanced-Technology Act of 1992.--The 
     Scientific and Advanced-Technology Act of 1992 (42 U.S.C. 
     1862h et seq.) is amended--
       (1) in section 2(a)(5) (42 U.S.C. 1862h(a)(5)), by striking 
     ``National Science Foundation'' and inserting ``National 
     Science and Technology Foundation''; and
       (2) in section 3 (42 U.S.C. 1862i), by striking ``National 
     Science Foundation'' each place the term appears and 
     inserting ``National Science and Technology Foundation''.
       (b) National Science Foundation Authorization Act of 
     1998.--The National Science Foundation Authorization Act of 
     1998 (42 U.S.C. 1862k et seq.) is amended--
       (1) in each of paragraphs (1) and (2) of section 2 (112 
     Stat. 869), by striking ``National Science Foundation 
     established'' and inserting ``National Science and Technology 
     Foundation established''; and
       (2) in section 101(a)(6) (42 U.S.C. 1862k(a)(6)), by 
     striking ``National Science Foundation'' each place the term 
     appears and inserting ``National Science and Technology 
     Foundation''.
       (c) National Science Foundation Authorization Act of 
     2002.--The National Science Foundation Authorization Act of 
     2002 (42 U.S.C. 1862n et seq.) is amended--
       (1) in section 2 (42 U.S.C. 1862n note), by striking 
     ``National Science Foundation'' each place the term appears 
     and inserting ``National Science and Technology Foundation'';
       (2) in each of paragraphs (4) and (7) of section 4 (42 
     U.S.C. 1862n note), by striking ``National Science Foundation 
     established'' and inserting ``National Science and Technology 
     Foundation established''; and
       (3) in section 10A (42 U.S.C. 1862n-1a)--
       (A) in the section heading, by inserting ``and technology'' 
     after ``national science'';
       (B) in the subsection heading of subsection (e), by 
     inserting ``and Technology'' after ``National Science''; and
       (C) by striking ``National Science Foundation'' each place 
     the term appears and inserting ``National Science and 
     Technology Foundation''.
       (d) America COMPETES Act.--The America COMPETES Act (Public 
     Law 110-69; 121 Stat. 572) is amended--
       (1) in each of sections 1006(c)(1)(K) (15 U.S.C. 
     3718(c)(1)(K)), 4001 (33 U.S.C. 893), and 5003(b)(1), by 
     striking ``National Science Foundation'' and inserting 
     ``National Science and Technology Foundation'';
       (2) in section 7001(5) (42 U.S.C. 1862o note), by striking 
     ``National Science Foundation'' and inserting ``National 
     Science and Technology Foundation''; and
       (3) in the title heading for title VII, by inserting ``AND 
     TECHNOLOGY'' after ``NATIONAL SCIENCE''.
       (e) National Science and Technology Policy, Organization, 
     and Priorities Act of 1976.--The National Science and 
     Technology Policy, Organization, and Priorities Act of 1976 
     (42 U.S.C. 6601 et seq.) is amended--
       (1) in section 205(b)(2) (42 U.S.C. 6614(b)(2)), by 
     striking ``National Science Foundation'' and inserting 
     ``National Science and Technology Foundation''; and
       (2) in section 206 (42 U.S.C. 6615), by striking ``National 
     Science Foundation'' each place the term appears and 
     inserting ``National Science and Technology Foundation''.
       (f) America COMPETES Reauthorization Act of 2010.--The 
     America COMPETES Reauthorization Act of 2010 (Public Law 111-
     358; 124 Stat. 3982) is amended--
       (1) in the subtitle heading of subtitle A of title V, by 
     inserting ``and Technology'' after ``National Science'';
       (2) in section 502 (42 U.S.C. 1862p note)--
       (A) in paragraph (1), by striking ``National Science 
     Foundation'' and inserting ``National Science and Technology 
     Foundation''; and
       (B) in paragraph (3), by striking ``National Science 
     Foundation established'' and inserting ``National Science and 
     Technology Foundation established'';
       (3) in the section heading of section 506 (42 U.S.C. 1862p-
     1), by inserting ``and technology'' after ``national 
     science'';
       (4) in section 517 (42 U.S.C. 1862p-9)--
       (A) in paragraph (2) of subsection (a), by striking 
     ``National Science Foundation'' each place the term appears 
     and inserting ``National Science and Technology Foundation''; 
     and
       (B) in each of subsections (a)(4), (b), and (c)(2), by 
     striking ``National Science Foundation'' and inserting 
     ``National Science and Technology Foundation'';
       (5) in section 518 (124 Stat. 4015), by striking 
     ``Foundation.'' and inserting ``and Technology Foundation.'';

[[Page S2604]]

       (6) in section 519 (124 Stat. 4015)--
       (A) in the section heading, by inserting ``and technology'' 
     after ``national science''; and
       (B) by striking ``National Science Foundation'' each place 
     the term appears and inserting ``National Science and 
     Technology Foundation'';
       (7) in section 520 (42 U.S.C. 1862p-10)--
       (A) by striking ``National Science Foundation'' each place 
     the term appears and inserting ``National Science and 
     Technology Foundation''; and
       (B) in the subsection heading of subsection (b), by 
     striking ``NSF'' and inserting ``NSTF'';
       (8) in section 522 (42 U.S.C. 1862p-11)--
       (A) in the section heading, by striking ``nsf'' and 
     inserting ``nstf''; and
       (B) by striking ``National Science Foundation'' and 
     inserting ``National Science and Technology Foundation'';
       (9) in section 524 (42 U.S.C. 1862p-12), by striking 
     ``National Science Foundation'' each place the term appears 
     and inserting ``National Science and Technology Foundation''; 
     and
       (10) in section 555(5) (20 U.S.C. 9905(5)), by inserting 
     ``and Technology'' after ``National Science''.
       (g) STEM Education Act of 2015.--Each of sections 2 and 3 
     of the STEM Education Act of 2015 (42 U.S.C. 6621 note; 
     1862q) are amended by striking ``National Science 
     Foundation'' and inserting ``National Science and Technology 
     Foundation''.
       (h) Research Excellence and Advancements for Dyslexia 
     Act.--The Research Excellence and Advancements for Dyslexia 
     Act (Public Law 114-124; 130 Stat. 120) is amended by 
     striking ``National Science'' each place the term appears and 
     inserting ``National Science and Technology''.
       (i) American Innovation and Competitiveness Act.--The 
     American Innovation and Competitiveness Act (42 U.S.C. 1862s 
     et seq.) is amended--
       (1) in section 2 (42 U.S.C. 1862 note), by inserting ``and 
     Technology'' after ``National Science''; and
       (2) in section 601(a)(1) (42 U.S.C. 1862s-8(a)(1)), by 
     striking ``National Science'' each place the term appears and 
     inserting ``National Science and Technology''.
       (j) National Science Foundation Authorization Act, 1976.--
     The National Science Foundation Authorization Act, 1976 
     (Public Law 94-86) is amended--
       (1) in section 2(b) (42 U.S.C. 1869a), by striking 
     ``National Science Foundation'' each place the term appears 
     and inserting ``National Science and Technology Foundation''; 
     and
       (2) in section 6(a) (42 U.S.C. 1881a(a)), by striking 
     ``National Science Foundation'' and inserting ``National 
     Science and Technology Foundation''.
       (k) National Science Foundation Authorization Act, 1977.--
     Section 8 of the National Science Foundation Authorization 
     Act, 1977 (42 U.S.C. 1883) is amended by striking ``National 
     Science Foundation'' each place the term appears and 
     inserting ``National Science and Technology Foundation''.
       (l) National Science Foundation Authorization Act, Fiscal 
     Year 1978.--Section 8 of the National Science Foundation 
     Authorization Act, Fiscal Year 1978 (42 U.S.C. 1869b) is 
     amended by inserting ``and Technology'' after ``National 
     Science''.
       (m) Act of August 25, 1959.--The first section of the Act 
     of August 25, 1959 (42 U.S.C. 1880) is amended by inserting 
     ``and Technology'' after ``National Science''.
       (n) National Science Foundation Authorization Act for 
     Fiscal Year 1980.--Section 9 of the National Science 
     Foundation Authorization Act for Fiscal Year 1980 (42 U.S.C. 
     1882) is amended by striking ``National Science Foundation'' 
     each place the term appears and inserting ``National Science 
     and Technology Foundation''.
       (o) National Aeronautics and Space Administration 
     Authorization Act of 2005.--Section 721 of the National 
     Aeronautics and Space Administration Authorization Act of 
     2005 (42 U.S.C. 1886a) is amended by striking ``The National 
     Science Foundation'' and inserting ``The National Science and 
     Technology Foundation''.
       (p) National Science Foundation Authorization Act for 
     Fiscal Year 1986.--Section 108 of the National Science 
     Foundation Authorization Act for Fiscal Year 1986 (42 U.S.C. 
     1886) is amended by inserting ``and Technology'' after 
     ``National Science''.
       (q) National Quantum Initiative Act.--The National Quantum 
     Initiative Act (Public Law 115-368) is amended--
       (1) in the table of contents in section 2, by striking the 
     item relating to title III and inserting the following:

    ``TITLE III--NATIONAL SCIENCE AND TECHNOLOGY FOUNDATION QUANTUM 
                             ACTIVITIES'';

       (2) in section 102(a)(2)(A) (15 U.S.C. 8812(a)(2)(A)), by 
     inserting ``and Technology'' after ``National Science'';
       (3) in section 103 (15 U.S.C. 8813), by striking ``National 
     Science Foundation'' each place the term appears and 
     inserting ``National Science and Technology Foundation'';
       (4) in the title heading for title III, by inserting ``AND 
     TECHNOLOGY'' after ``NATIONAL SCIENCE''; and
       (5) in each of sections 301 and 302 (15 U.S.C. 8841, 8842), 
     by striking ``National Science Foundation'' each place the 
     term appears and inserting ``National Science and Technology 
     Foundation''.
       (r) Cybersecurity Enhancement Act of 2014.--The 
     Cybersecurity Enhancement Act of 2014 (15 U.S.C. 7421 et 
     seq.) is amended--
       (1) in section 201 (15 U.S.C. 7431), by striking ``National 
     Science Foundation'' each place the term appears and 
     inserting ``National Science and Technology Foundation''; and
       (2) in each of sections 301 and 302 (15 U.S.C. 7441, 7442), 
     by striking ``National Science Foundation'' each place the 
     term appears and inserting ``National Science and Technology 
     Foundation''.
       (s) High-performance Computing Act of 1991.--The High-
     Performance Computing Act of 1991 (15 U.S.C. 5501 et seq.) is 
     amended--
       (1) in section 101(a)(3)(C)(xi) 15 U.S.C. 
     5511(a)(3)(C)(xi)), by inserting ``and Technology'' after 
     ``National Science''; and
       (2) in section 201 (15 U.S.C. 5521)--
       (A) in the section heading, by inserting ``and technology'' 
     after ``national science''; and
       (B) by striking ``National Science Foundation'' each place 
     the term appears and inserting ``National Science and 
     Technology Foundation''.
       (t) Arctic Research and Policy Act of 1984.--The Arctic 
     Research and Policy Act of 1984 (15 U.S.C. 4101 et seq.) is 
     amended--
       (1) in each of sections 102(b)(3) and 103(b)(1) (15 U.S.C. 
     4101(b)(3), 4102(b)(1)), by inserting ``and Technology'' 
     after ``National Science''; and
       (2) in section 107 (15 U.S.C. 4106)--
       (A) in the subsection heading of subsection (a), by 
     inserting ``and Technology'' after ``National Science''; and
       (B) by striking ``National Science Foundation'' each place 
     the term appears and inserting ``National Science and 
     Technology Foundation''.
       (u) Stevenson-Wydler Technology Innovation Act of 1980.--
     The Stevenson-Wydler Technology Innovation Act of 1980 (15 
     U.S.C. 3701 et seq.) is amended--
       (1) in each of sections 4(5), 5(a)(2)(A), 20, and 21(d) (15 
     U.S.C. 3703(5), 3704(a)(2)(A), 3712, and 3713(d)), by 
     inserting ``and Technology'' after ``National Science'';
       (2) in section 9 (15 U.S.C. 3707)--
       (A) in the section heading, by inserting ``and technology'' 
     after ``national science'';
       (B) in each of subsections (a) and (b), by striking 
     ``National Science Foundation'' and inserting ``National 
     Science and Technology Foundation''; and
       (C) in subsection (c)--
       (i) by striking ``National Science Foundation in'' and 
     inserting ``National Science and Technology Foundation in''; 
     and
       (ii) by striking ``National Science Foundation under'' and 
     inserting ``National Science and Technology Foundation 
     under''; and
       (3) in section 10 (15 U.S.C. 3708), by striking ``National 
     Science Foundation'' each place the term appears and 
     inserting ``National Science and Technology Foundation''.
       (v) Cyber Security Research and Development Act.--The Cyber 
     Security Research and Development Act (15 U.S.C. 7401 et 
     seq.) is amended--
       (1) in section 3(1) (15 U.S.C. 7402(1)), by inserting ``and 
     Technology'' after ``National Science'';
       (2) in section 5 (15 U.S.C. 7404)--
       (A) in the section heading, by inserting ``and technology'' 
     after ``national science'';
       (B) in subsection (c)(4), by inserting ``and Technology'' 
     after ``National Science''; and
       (C) in subsection (d), by striking ``National Science 
     Foundation's'' and inserting ``National Science and 
     Technology Foundation's''; and
       (3) in section 13 (15 U.S.C. 7409), by striking ``National 
     Science Foundation'' each place the term appears and 
     inserting ``National Science and Technology Foundation''.
       (w) National Superconductivity and Competitiveness Act of 
     1988.--Section 6 of the National Superconductivity and 
     Competitiveness Act of 1988 (15 U.S.C. 5205) is amended by 
     inserting ``and Technology'' after ``National Science''.
       (x) Weather Research and Forecasting Innovation Act of 
     2017.--Each of sections 105 and 402(a)(1) of the Weather 
     Research and Forecasting Innovation Act of 2017 (15 U.S.C. 
     8515, 8542(a)(1)) are amended by inserting ``and Technology'' 
     after ``National Science''.
                                 ______
                                 
      By Mr. THUNE:
  S.J. Res. 74. A joint resolution requesting the Secretary of the 
Interior to authorize a unique and 1-time arrangement for certain 
displays on Mount Rushmore National Memorial relating to the centennial 
of the ratification of the 19th Amendment to the Constitution of the 
United States during the period beginning August 18, 2020, and ending 
on September 30, 2020; to the Committee on Energy and Natural 
Resources.
  Mr. THUNE. Mr. President, I ask unanimous consent that the text of 
the joint resolution be printed in the Record.
  There being no objection, the text of the joint resolution was 
ordered to be printed in the Record, as follows:

                              S.J. Res. 74

       Whereas, on May 21, 1919, the House of Representatives 
     adopted House Joint Resolution 1, 66th Congress, proposing an 
     amendment to the Constitution extending the right of suffrage 
     to women;
       Whereas, on June 4, 1919, the Senate adopted House Joint 
     Resolution 1, 66th Congress, sending to the States for 
     ratification the 19th Amendment to the Constitution of the 
     United States;

[[Page S2605]]

       Whereas, on August 18, 1920, the 36th State approved the 
     19th Amendment to the Constitution of the United States, 
     satisfying the constitutional threshold of passage in 3/4 of 
     the States;
       Whereas, on August 26, 1920, Secretary of State Bainbridge 
     Colby certified the 19th Amendment to the Constitution of the 
     United States;
       Whereas section 431(a)(3) of the Department of the 
     Interior, Environment, and Related Agencies Appropriations 
     Act, 2017 (Public Law 115-31; 131 Stat. 502), enacted into 
     law S. 847, 115th Congress (as introduced on April 5, 2017), 
     which established the Women's Suffrage Centennial Commission 
     ``to ensure a suitable observance of the centennial of the 
     passage and ratification of the 19th Amendment to the 
     Constitution of the United States providing for women's 
     suffrage'';
       Whereas August 18, 2020, marks the centennial of the 
     ratification of the 19th Amendment to the Constitution of the 
     United States by 3/4 of the States;
       Whereas August 26, 2020, marks the centennial of the 19th 
     Amendment becoming a part of the Constitution of the United 
     States; and
       Whereas the centennial anniversary of the ratification of 
     the 19th Amendment to the Constitution of the United States 
     providing for women's suffrage should be honored and 
     celebrated: Now, therefore, be it
       Resolved by the Senate and House of Representatives of the 
     United States of America in Congress assembled, That 
     Congress--
       (1) requests the Secretary of the Interior to authorize a 
     unique and 1-time arrangement to commemorate the centennial 
     of the passage of the 19th Amendment to the Constitution of 
     the United States entitled ``LOOK UP TO HER at Mount 
     Rushmore'' with a display of historical artifacts, digital 
     content, film footage, and associated historical audio and 
     imagery in and around the vicinity of the Mount Rushmore 
     National Memorial, including projected onto the surface of 
     the Mount Rushmore National Memorial to the left and right of 
     the sculpture for 14 nights of public display during the 
     period beginning on August 18, 2020, and ending on September 
     30, 2020; and
       (2) respectfully requests that the Secretary of the Senate 
     transmit an enrolled copy of this resolution to--
       (A) the Secretary of the Interior; and
       (B) the Lincoln Borglum Museum at the Mount Rushmore 
     National Memorial.

                          ____________________