[Congressional Record Volume 167, Number 137 (Monday, August 2, 2021)]
[Senate]
[Page S5599]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2173. Mr. PADILLA (for himself and Mr. Cornyn) submitted an 
amendment intended to be proposed to amendment SA 2137 proposed by Mr. 
Schumer (for Ms. Sinema (for herself, Mr. Portman, Mr. Manchin, Mr. 
Cassidy, Mrs. Shaheen, Ms. Collins, Mr. Tester, Ms. Murkowski, Mr. 
Warner, and Mr. Romney)) to the bill H.R. 3684, to authorize funds for 
Federal-aid highways, highway safety programs, and transit programs, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       On page 493, strike lines 8 through 22 and insert the 
     following:
       (b) Eligibility.--Section 602(a) of title 23, United States 
     Code, is amended--
       (1) by striking paragraph (1) and inserting the following:
       ``(1) Letter of interest.--
       ``(A) In general.--A project shall be eligible to receive 
     credit assistance under the TIFIA program if--
       ``(i) the entity proposing to carry out the project submits 
     a letter of interest prior to submission of a formal 
     application for the project; and
       ``(ii) the project meets the criteria described in this 
     subsection.
       ``(B) Certain projects.--In the case of a project that 
     outlines a proposed financial plan to repay the loan 
     primarily with State or local tax revenue, the review of the 
     letter of interest shall be limited to a legal compliance 
     check to ensure the project meets the criteria described in 
     this subsection, except to the extent that the Secretary 
     determines that the complexity of the project requires 
     further review.''; and
       (2) in paragraph (2)--
       (A) in subparagraph (A)(iv)--
       (i) by striking ``a rating'' and inserting ``an investment-
     grade rating''; and
       (ii) by striking ``$75,000,000'' and inserting 
     ``$150,000,000''; and
       (B) in subparagraph (B)--
       (i) by striking ``the senior debt'' and inserting ``senior 
     debt''; and
       (ii) by striking ``credit instrument is for an amount less 
     than $75,000,000'' and inserting ``total amount of other 
     senior debt and the Federal credit instrument is less than 
     $150,000,000''.
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