[Congressional Record Volume 167, Number 138 (Tuesday, August 3, 2021)]
[Senate]
[Page S5745]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2354. Mr. VAN HOLLEN (for himself, Mr. Rounds, Ms. Ernst, and Mr. 
Kelly) proposed an amendment 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; as follows:

        At the end of title II of division A, add the following:

     SEC. 12___. FEDERAL REQUIREMENTS FOR TIFIA ELIGIBILITY AND 
                   PROJECT SELECTION.

       (a) In General.--Section 602(c) of title 23, United States 
     Code, is amended by adding at the end the following:
       ``(3) Payment and performance security.--
       ``(A) In general.--The Secretary shall ensure that the 
     design and construction of a project carried out with 
     assistance under the TIFIA program shall have appropriate 
     payment and performance security, regardless of whether the 
     obligor is a State, local government, agency or 
     instrumentality of a State or local government, public 
     authority, or private party.
       ``(B) Written determination.--If payment and performance 
     security is required to be furnished by applicable State or 
     local statute or regulation, the Secretary may accept such 
     payment and performance security requirements applicable to 
     the obligor if the Federal interest with respect to Federal 
     funds and other project risk related to design and 
     construction is adequately protected.
       ``(C) No determination or applicable requirements.--If 
     there are no payment and performance security requirements 
     applicable to the obligor, the security under section 3131(b) 
     of title 40 or an equivalent State or local requirement, as 
     determined by the Secretary, shall be required.''.
       (b) Applicability.--The amendments made by this section 
     shall apply with respect to any agreement for credit 
     assistance entered into on or after the date of enactment of 
     this Act.
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