[Congressional Record Volume 167, Number 139 (Wednesday, August 4, 2021)]
[Senate]
[Pages S5873-S5875]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2549. Mr. CASEY 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:

        At the end of division H, insert the following:

              TITLE VII--QUALIFIED COMMUNITY COLLEGE BONDS

     SEC. 80701. SHORT TITLE.

       This title may be cited as the ``Community College 
     Infrastructure Act of 2021''.

     SEC. 80702. TAX CREDIT FOR QUALIFIED COMMUNITY COLLEGE BONDS.

       (a) In General.--Part IV of subchapter A of chapter 1 of 
     the Internal Revenue Code of 1986 is amended by inserting 
     after subpart G the following new subpart:

             ``Subpart H--Qualified Community College Bonds

     ``SEC. 54. QUALIFIED COMMUNITY COLLEGE BONDS.

       ``(a) Qualified Community College Bonds.--For purposes of 
     this subchapter, the term `qualified community college bond' 
     means any bond issued as part of an issue if--
       ``(1) 95 percent of the available project proceeds of such 
     issue are to be used for a qualified purpose with respect to 
     a qualified community college,
       ``(2) the bond is issued by a State or local government in 
     consultation with the jurisdictions of which such college is 
     located, and
       ``(3) the issuer--
       ``(A) designates such bond for purposes of this section, 
     and
       ``(B) certifies that it has the written approval of the 
     governing body for such bond issuance.
       ``(b) Limitation on Amount of Bonds Designated.--
       ``(1) National limitation.--There is a national community 
     college bond limitation of $400,000,000 for each calendar 
     year.
       ``(2) Allocation of limitation.--
       ``(A) In general.--The national community college bond 
     limitation for a calendar year shall be allocated by the 
     Secretary

[[Page S5874]]

     among the States on the basis of their respective populations 
     of individuals below the poverty line (as defined by the 
     Office of Management and Budget).
       ``(B) Limitation per state.--For purposes of subparagraph 
     (A), a State may not receive an allocation of more than 5 
     percent of the national community college bond limitation in 
     any calendar year.
       ``(C) Allocations to governing bodies.--
       ``(i) In general.--The limitation amount allocated to a 
     State under subparagraph (A) shall be allocated by the State 
     to the appropriate governing bodies within such State.
       ``(ii) Priority for allocations.--

       ``(I) Largest metropolitan statistical area.--For purposes 
     of this subparagraph, the State education agency shall, as 
     applicable, ensure that the governing body for a proposed 
     qualified community college which will serve the residents of 
     the largest metropolitan statistical area within such State 
     which does not contain an institution described in subsection 
     (c)(2)(A) receives an allocation equal to the lesser of--

       ``(aa) one-third of the total allocation to the State under 
     subparagraph (A), or
       ``(bb) the allocation amount requested by such governing 
     body.

       ``(II) Additional priorities for allocation.--For purposes 
     of making allocations under this subparagraph, the State 
     education agency shall give priority to any governing body 
     which has or will have--

       ``(aa) a partnership, including a dual or concurrent 
     enrollment program (as defined in section 8101 of the 
     Elementary and Secondary Education Act of 1965 (20 U.S.C. 
     7801)), with local high schools,
       ``(bb) a partnership with four-year institutions of higher 
     education, including a credit-transfer agreement or 
     articulation agreement (as defined in section 486A(a) of the 
     Higher Education Act of 1965 (20 U.S.C. 1093a(a))), for 
     students at the qualified community college, or
       ``(cc) a partnership with a State workforce development 
     board established under section 101 of the Workforce 
     Innovation and Opportunity Act (29 U.S.C. 3102).
       ``(3) Designation subject to limitation amount.--The 
     maximum aggregate face amount of bonds issued during any 
     calendar year which may be designated under subsection (a) 
     with respect to any qualified community college shall not 
     exceed the limitation amount allocated to the governing body 
     of such college under paragraph (2)(C) for such calendar 
     year.
       ``(4) Carryover of unused limitation.--
       ``(A) In general.--If for any calendar year--
       ``(i) the limitation amount for any State, exceeds
       ``(ii) the amount of bonds issued during such year which 
     are designated under subsection (a) with respect to qualified 
     community colleges within such State,
     the limitation amount for such State for the following 
     calendar year shall be increased by the amount of such 
     excess.
       ``(B) Limitation on carryover.--Any carryover of a 
     limitation amount may be carried only to the first 2 years 
     following the unused limitation year. For purposes of the 
     preceding sentence, a limitation amount shall be treated as 
     used on a first-in first-out basis.
       ``(C) Allocation of unused carryover amount.--
       ``(i) In general.--Any unused carryover amount of a State 
     for any calendar year shall be assigned to the Secretary for 
     allocation among qualified States for the succeeding calendar 
     year, with such allocations to be in addition to the amounts 
     allocated pursuant to paragraph (2)(A).
       ``(ii) Formula for allocation.--The amount allocated under 
     this subparagraph to a qualified State for any calendar year 
     shall be the amount determined by the Secretary to bear the 
     same ratio to the aggregate unused carryover amounts of all 
     States for the preceding calendar year as such State's 
     population for the calendar year bears to the population of 
     all qualified States for the calendar year. For purposes of 
     the preceding sentence, population shall be determined in 
     accordance with section 146(j).
       ``(iii) Definitions.--For purposes of this subparagraph:

       ``(I) Unused carryover amount.--The term `unused carryover 
     amount' means the amount of any carryover of a limitation 
     amount allocated to a State which has expired pursuant to 
     subparagraph (B).
       ``(II) Qualified state.--The term `qualified State' means, 
     with respect to any calendar year, a State--

       ``(aa) which allocated its limitation amount for the 
     preceding calendar year to governing bodies within such State 
     (as described in paragraph (2)(C)), and
       ``(bb) for which a request is made (not later than May 1 of 
     the calendar year) to receive an allocation under this 
     subparagraph.
       ``(c) Definitions.--For purposes of this section:
       ``(1) Governing body.--The term `governing body' means--
       ``(A) the board of trustees or other governing organization 
     of a qualified community college, or
       ``(B) a State or local government (or any political 
     subdivision thereof), or any combination of school districts 
     or municipalities, which participate or propose to 
     participate in the establishment and operation of a qualified 
     community college.
       ``(2) Qualified community college.--
       ``(A) In general.--The term `qualified community college' 
     means a public institution of higher education--
       ``(i) at which the highest degree that is predominantly 
     awarded to students is an associate's degree (including 2-
     year tribally controlled colleges under section 316 of the 
     Higher Education Act of 1965 (20 U.S.C. 1059c) and public 2-
     year State institutions of higher education),
       ``(ii) which is or will be established by and operated 
     under the supervision of a governing body in conjunction with 
     the State and local governments whose residents will be 
     served by such institution, and
       ``(iii) which is located within a qualified area.
       ``(B) Qualified area.--For purposes of this paragraph, the 
     term `qualified area' means--
       ``(i) a city or metropolitan statistical area for which 
     there is no institution described in subparagraph (A)(i) 
     within a 40-mile radius,
       ``(ii) a county which--

       ``(I) does not contain any institution described in such 
     subparagraph, or
       ``(II) has an unemployment rate equal to or greater than 
     110 percent of the national average (as determined by the 
     Secretary of Labor based on the most recent available data), 
     and

       ``(iii) a low-income community (as defined in section 
     45D(e)).
       ``(3) Qualified purpose.--The term `qualified purpose' 
     means--
       ``(A) establishing and operating a qualified community 
     college,
       ``(B) expanding an existing qualified community college to 
     a qualified area,
       ``(C) constructing, rehabilitating, repairing, upgrading, 
     enhancing, or expanding any facility owned or to be used by a 
     qualified community college to carry out the educational 
     purposes (including instructional and research purposes) of 
     such college,
       ``(D) providing equipment for use by students at a 
     qualified community college,
       ``(E) investing in online resources or broadband access 
     projects to deliver qualified community college services to 
     qualified areas, or developing course materials for education 
     to be provided by a qualified community college, provided 
     that such uses do not collectively account for more than 10 
     percent of the amount allocated under subsection (b)(2)(C) to 
     the governing body for such college,
       ``(F) training professors and other school personnel at a 
     qualified community college, provided that such use does not 
     account for more than 5 percent of the amount allocated under 
     subsection (b)(2)(C) to the governing body for such college, 
     and
       ``(G) constructing, rehabilitating, repairing, upgrading, 
     enhancing, or expanding any on-campus facility to be used by 
     a qualified community college to provide childcare to 
     students and staff, provided that such use does not account 
     for more than 10 percent of the amount allocated under 
     subsection (b)(2)(C) to the governing body for such college.
       ``(d) Application of Certain Labor Standards to Projects 
     Financed With Qualified Community Bonds.--
       ``(1) In general.--Each laborer and mechanic employed by a 
     contractor or subcontractor in the performance of 
     construction, alteration, or repair work financed in whole, 
     or in part, with the proceeds of any qualified community 
     college bond issued after the date of enactment of the 
     Community College Infrastructure Act of 2021 shall be paid 
     wages at rates not less than those prevailing on work of a 
     similar character in the locality, as determined by the 
     Secretary of Labor in accordance with subchapter IV of 
     chapter 31 of title 40, United States Code.
       ``(2) Authority.--The Secretary of Labor shall have, with 
     respect to the labor standards described in paragraph (1), 
     the authority and functions set forth in Reorganization Plan 
     Numbered 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and 
     section 3145 of title 40, United States Code.''.
       (b) Conforming Amendment.--The table of subparts for part 
     IV of subchapter A of chapter 1 of the Internal Revenue Code 
     of 1986 is amended by inserting after the item relating to 
     subpart G the following:

           ``subpart h--qualified community college bonds''.

     SEC. 80703. CREDIT TO HOLDERS AND ISSUERS OF QUALIFIED 
                   COMMUNITY COLLEGE BONDS.

       (a) Allowance of Credit.--
       (1) In general.--Section 54A of the Internal Revenue Code 
     of 1986, as in effect on the day before repeal by Public Law 
     115-97, is revived.
       (2) Credit limited to qualified community college bonds.--
     Section 54A(d) of such Code is amended--
       (A) by striking paragraph (1) and inserting the following:
       ``(1) Qualified tax credit bond.--The term `qualified tax 
     credit bond' means a qualified community college bond which 
     is part of an issue that meets requirements of paragraphs 
     (2), (3), (4), (5), and (6).'', and
       (B) in paragraph (2), by striking subparagraph (C) and 
     inserting the following:
       ``(C) Qualified purpose.--For purposes of this paragraph, 
     the term `qualified purpose' means a purpose specified in 
     section 54(c)(3).''.
       (b) Credit Allowed to Issuer.--
       (1) In general.--Section 6431 of the Internal Revenue Code 
     of 1986, as in effect on the day before repeal by Public Law 
     115-97, is revived.
       (2) Conforming amendments.--
       (A) Section 6431(f) of such Code, as revived by paragraph 
     (1), is amended by striking

[[Page S5875]]

     paragraphs (2) and (3) and inserting the following:
       ``(2) Specified tax credit bond.--For purposes of this 
     subsection, the term `specified tax credit bond' means any 
     qualified tax credit bond (as defined in section 54A(d)(1)) 
     if the issuer of such bond makes an irrevocable election to 
     have this subsection apply.''.
       (B) Subparagraph (A) of section 6211(b)(4) of the Internal 
     Revenue Code of 1986 is amended by striking ``and 6428A'' and 
     inserting ``6428A, and 6431''.

     SEC. 80704. GREEN BUILDING PRACTICES.

       (a) In General.--In carrying out a new construction or 
     renovation project using any available project proceeds from 
     the issuance of any qualified community college bond (as 
     defined in subsection (a) of section 54 of the Internal 
     Revenue Code of 1986), a governing body (as defined in 
     subsection (c)(1) of such section) shall use, of those 
     proceeds, not less than the applicable percentage described 
     in subsection (b) for construction or renovation that is 
     certified, verified, or consistent with the applicable 
     provisions of--
       (1) the Leadership in Energy and Environmental Design green 
     building rating standard of the United States Green Building 
     Council;
       (2) the Living Building Challenge green building 
     certification program developed by the International Living 
     Future Institute;
       (3) a green building rating program developed by the 
     Collaborative for High-Performance Schools that is designated 
     as CHPS Verified; or
       (4) a green building program that--
       (A) has standards that are equivalent to or more stringent 
     than the standards of a program described in paragraph (1), 
     (2), or (3);
       (B) is adopted by the State or another jurisdiction with 
     authority over the local educational agency; and
       (C) includes a verifiable method to demonstrate compliance 
     with the program.
       (b) Applicable Percentage Described.--The applicable 
     percentage referred to in subsection (a) is--
       (1) for fiscal year 2022, 60 percent;
       (2) for fiscal year 2023, 70 percent;
       (3) for fiscal year 2024, 80 percent;
       (4) for fiscal year 2025, 90 percent; and
       (5) for each of fiscal years 2026 through 2031, 100 
     percent.

     SEC. 80705. USE OF AMERICAN IRON, STEEL, AND MANUFACTURED 
                   PRODUCTS.

       (a) In General.--A governing body (as defined in subsection 
     (c)(1) of section 54 of the Internal Revenue Code of 1986) 
     that receives covered funds shall ensure that any iron, 
     steel, and manufactured products used in projects carried out 
     with such funds are produced in the United States.
       (b) Waiver Authority.--
       (1) In general.--The Secretary may waive the requirement of 
     subsection (a) if the Secretary determines that--
       (A) applying subsection (a) would be inconsistent with the 
     public interest;
       (B) iron, steel, and manufactured products produced in the 
     United States are not produced in a sufficient and reasonably 
     available amount or are not of a satisfactory quality; or
       (C) using iron, steel, and manufactured products produced 
     in the United States will increase the cost of the overall 
     project by more than 25 percent.
       (2) Publication.--Before issuing a waiver under paragraph 
     (1), the Secretary shall publish in the Federal Register a 
     detailed written explanation of the waiver determination.
       (c) Consistency With International Agreements.--This 
     section shall be applied in a manner consistent with the 
     obligations of the United States under international 
     agreements.
       (d) Definitions.--In this section:
       (1) Covered funds.--The term ``covered funds'' means any 
     available project proceeds from the issuance of any qualified 
     community college bond (as defined in section 54(a) of the 
     Internal Revenue Code of 1986).
       (2) Manufactured product.--The term ``manufactured 
     product'' means any construction material or end product (as 
     such terms are defined in part 25.003 of the Federal 
     Acquisition Regulation) that is not an iron or steel product, 
     including--
       (A) electrical components; and
       (B) non-ferrous building materials, including aluminum and 
     polyvinylchloride (PVC), glass, fiber optics, plastic, wood, 
     masonry, rubber, manufactured stone, any other non-ferrous 
     metals, and any unmanufactured construction material.
       (3) Produced in the united states.--The term ``produced in 
     the United States'' means the following:
       (A) When used with respect to a manufactured product, the 
     product was manufactured in the United States and the cost of 
     the components of such product that were mined, produced, or 
     manufactured in the United States exceeds 60 percent of the 
     total cost of all components of the product.
       (B) When used with respect to iron or steel products, or an 
     individual component of a manufactured product, all 
     manufacturing processes for such iron or steel products or 
     components, from the initial melting stage through the 
     application of coatings, occurred in the United States, 
     except that the term does not include--
       (i) steel or iron material or products manufactured abroad 
     from semi-finished steel or iron from the United States; and
       (ii) steel or iron material or products manufactured in the 
     United States from semi-finished steel or iron of foreign 
     origin.
       (4) Secretary.--The term ``Secretary'' means the Secretary 
     of Education.

     SEC. 80706. EFFECTIVE DATE.

       The amendments made by this title shall apply to 
     obligations issued after the date of the enactment of this 
     Act.
                                 ______