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Donate NowS.1549 - American Jobs Act of 2011
A bill to provide tax relief for American workers and businesses, to put workers back on the job while rebuilding and modernizing America, and to provide pathways back to work for Americans looking for jobs.
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S 1549 PCSCommentsClose CommentsPermalink

Calendar No. 165CommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

1st SessionCommentsClose CommentsPermalink

S. 1549CommentsClose CommentsPermalink

To provide tax relief for American workers and businesses, to put workers back on the job while rebuilding and modernizing America, and to provide pathways back to work for Americans looking for jobs.CommentsClose CommentsPermalink

IN THE SENATE OF THE UNITED STATESCommentsClose CommentsPermalink

September 13, 2011CommentsClose CommentsPermalink

September 13, 2011CommentsClose CommentsPermalink

Mr. REID (by request) introduced the following bill; which was read the first timeCommentsClose CommentsPermalink

September 14, 2011CommentsClose CommentsPermalink

September 14, 2011CommentsClose CommentsPermalink

Read the second time and placed on the calendarCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To provide tax relief for American workers and businesses, to put workers back on the job while rebuilding and modernizing America, and to provide pathways back to work for Americans looking for jobs.CommentsClose CommentsPermalink

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

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title- This Act may be cited as the ‘American Jobs Act of 2011’.CommentsClose CommentsPermalink

(b) Table of Contents- The table of contents for this Act is as follows:CommentsClose CommentsPermalink

Sec. 1. Short title; table of contents.CommentsClose CommentsPermalink

Sec. 2. References.CommentsClose CommentsPermalink

Sec. 3. Severability.CommentsClose CommentsPermalink

Sec. 4. Buy American--Use of American iron, steel, and manufactured goods.CommentsClose CommentsPermalink

Sec. 5. Wage rate and employment protection requirements.CommentsClose CommentsPermalink

TITLE I--RELIEF FOR WORKERS AND BUSINESSES
Subtitle A--Payroll Tax Relief
Sec. 101. Temporary payroll tax cut for employers, employees and the self-employed.CommentsClose CommentsPermalink

Sec. 102. Temporary tax credit for increased payroll.CommentsClose CommentsPermalink

Subtitle B--Other Relief for Businesses
Sec. 111. Extension of temporary 100 percent bonus depreciation for certain business assets.CommentsClose CommentsPermalink

Sec. 112. Surety bonds.CommentsClose CommentsPermalink

Sec. 113. Delay in application of withholding on government contractors.CommentsClose CommentsPermalink

TITLE II--PUTTING WORKERS BACK ON THE JOB WHILE REBUILDING AND MODERNIZING AMERICA
Subtitle A--Veterans Hiring Preferences
Sec. 201. Returning heroes and wounded warriors work opportunity tax credits.CommentsClose CommentsPermalink

Subtitle B--Teacher Stabilization
Sec. 202. Purpose.CommentsClose CommentsPermalink

Sec. 203. Grants for the outlying areas and the Secretary of the Interior; availability of funds.CommentsClose CommentsPermalink

Sec. 204. State allocation.CommentsClose CommentsPermalink

Sec. 205. State application.CommentsClose CommentsPermalink

Sec. 206. State reservation and responsibilities.CommentsClose CommentsPermalink

Sec. 207. Local educational agencies.CommentsClose CommentsPermalink

Sec. 208. Early learning.CommentsClose CommentsPermalink

Sec. 209. Maintenance of effort.CommentsClose CommentsPermalink

Sec. 210. Reporting.CommentsClose CommentsPermalink

Sec. 211. Definitions.CommentsClose CommentsPermalink

Sec. 212. Authorization of appropriations.CommentsClose CommentsPermalink

Subtitle C--First Responder Stabilization
Sec. 213. Purpose.CommentsClose CommentsPermalink

Sec. 214. Grant program.CommentsClose CommentsPermalink

Sec. 215. Appropriations.CommentsClose CommentsPermalink

Subtitle D--School Modernization
PART I--Elementary and Secondary Schools
Sec. 221. Purpose.CommentsClose CommentsPermalink

Sec. 222. Authorization of appropriations.CommentsClose CommentsPermalink

Sec. 223. Allocation of funds.CommentsClose CommentsPermalink

Sec. 224. State use of funds.CommentsClose CommentsPermalink

Sec. 225. State and local applications.CommentsClose CommentsPermalink

Sec. 226. Use of funds.CommentsClose CommentsPermalink

Sec. 227. Private schools.CommentsClose CommentsPermalink

Sec. 228. Additional provisions.CommentsClose CommentsPermalink

PART II--Community College Modernization
Sec. 229. Federal assistance for community college modernization.CommentsClose CommentsPermalink

PART III--General Provisions
Sec. 230. Definitions.CommentsClose CommentsPermalink

Sec. 231. Buy American.CommentsClose CommentsPermalink

Subtitle E--Immediate Transportation Infrastrucure Investments
Sec. 241. Immediate transportation infrastructure investments.CommentsClose CommentsPermalink

Subtitle F--Building and Upgrading Infrastructure for Long-Term Development
Sec. 242. Short title; table of contents.CommentsClose CommentsPermalink

Sec. 243. Findings and purpose.CommentsClose CommentsPermalink

Sec. 244. Definitions.CommentsClose CommentsPermalink

PART I--American Infrastructure Financing Authority
Sec. 245. Establishment and general authority of AIFA.CommentsClose CommentsPermalink

Sec. 246. Voting members of the board of directors.CommentsClose CommentsPermalink

Sec. 247. Chief executive officer of AIFA.CommentsClose CommentsPermalink

Sec. 248. Powers and duties of the board of directors.CommentsClose CommentsPermalink

Sec. 249. Senior management.CommentsClose CommentsPermalink

Sec. 250. Special Inspector General for AIFA.CommentsClose CommentsPermalink

Sec. 251. Other personnel.CommentsClose CommentsPermalink

Sec. 252. Compliance.CommentsClose CommentsPermalink

PART II--Terms and Limitations on Direct Loans and Loan Guarantees
Sec. 253. Eligibility criteria for assistance from AIFA and terms and limitations of loans.CommentsClose CommentsPermalink

Sec. 254. Loan terms and repayment.CommentsClose CommentsPermalink

Sec. 255. Compliance and enforcement.CommentsClose CommentsPermalink

Sec. 256. Audits; reports to the President and Congress.CommentsClose CommentsPermalink

PART III--Funding of AIFA
Sec. 257. Administrative fees.CommentsClose CommentsPermalink

Sec. 258. Efficiency of AIFA.CommentsClose CommentsPermalink

Sec. 259. Funding.CommentsClose CommentsPermalink

PART IV--Extension of Exemption From Alternative Minimum Tax Treatment for Certain Tax-Exempt Bonds
Sec. 260. Extension of exemption from alternative minimum tax treatment for certain tax-exempt bonds.CommentsClose CommentsPermalink

Subtitle G--Project Rebuild
Sec. 261. Project Rebuild.CommentsClose CommentsPermalink

Subtitle H--National Wireless Initiative
Sec. 271. Definitions.CommentsClose CommentsPermalink

PART I--Auctions of Spectrum and Spectrum Management
Sec. 272. Clarification of authorities to repurpose Federal spectrum for commercial purposes.CommentsClose CommentsPermalink

Sec. 273. Incentive auction authority.CommentsClose CommentsPermalink

Sec. 274. Requirements when repurposing certain mobile satellite services spectrum for terrestrial broadband use.CommentsClose CommentsPermalink

Sec. 275. Permanent extension of auction authority.CommentsClose CommentsPermalink

Sec. 276. Authority to auction licenses for domestic satellite services.CommentsClose CommentsPermalink

Sec. 277. Directed auction of certain spectrum.CommentsClose CommentsPermalink

Sec. 278. Authority to establish spectrum license user fees.CommentsClose CommentsPermalink

PART II--Public Safety Broadband Network
Sec. 281. Reallocation of D block for public safety.CommentsClose CommentsPermalink

Sec. 282. Flexible use of narrowband spectrum.CommentsClose CommentsPermalink

Sec. 283. Single public safety wireless network licensee.CommentsClose CommentsPermalink

Sec. 284. Establishment of Public Safety Broadband Corporation.CommentsClose CommentsPermalink

Sec. 285. Board of directors of the corporation.CommentsClose CommentsPermalink

Sec. 286. Officers, employees, and committees of the corporation.CommentsClose CommentsPermalink

Sec. 287. Nonprofit and nonpolitical nature of the corporation.CommentsClose CommentsPermalink

Sec. 288. Powers, duties, and responsibilities of the corporation.CommentsClose CommentsPermalink

Sec. 289. Initial funding for corporation.CommentsClose CommentsPermalink

Sec. 290. Permanent self-funding; duty to assess and collect fees for network use.CommentsClose CommentsPermalink

Sec. 291. Audit and report.CommentsClose CommentsPermalink

Sec. 292. Annual report to Congress.CommentsClose CommentsPermalink

Sec. 293. Provision of technical assistance.CommentsClose CommentsPermalink

Sec. 294. State and local implementation.CommentsClose CommentsPermalink

Sec. 295. State and Local Implementation Fund.CommentsClose CommentsPermalink

Sec. 296. Public safety wireless communications research and development.CommentsClose CommentsPermalink

Sec. 297. Public Safety Trust Fund.CommentsClose CommentsPermalink

Sec. 298. FCC report on efficient use of public safety spectrum.CommentsClose CommentsPermalink

Sec. 299. Public safety roaming and priority access.CommentsClose CommentsPermalink

TITLE III--ASSISTANCE FOR THE UNEMPLOYED AND PATHWAYS BACK TO WORK
Subtitle A--Supporting Unemployed Workers
Sec. 301. Short title.CommentsClose CommentsPermalink

PART I--Extension of Emergency Unemployment Compensation and Certain Extended Benefits Provisions, and Establishment of Self-Employment Assistance Program
Sec. 311. Extension of emergency unemployment compensation program.CommentsClose CommentsPermalink

Sec. 312. Temporary extension of extended benefit provisions.CommentsClose CommentsPermalink

Sec. 313. Reemployment services and reemployment and eligibility assessment activities.CommentsClose CommentsPermalink

Sec. 314. Federal-State agreements to administer a self-employment assistance program.CommentsClose CommentsPermalink

Sec. 315. Conforming amendment on payment of Bridge to Work wages.CommentsClose CommentsPermalink

Sec. 316. Additional extended unemployment benefits under the Railroad Unemployment Insurance Act.CommentsClose CommentsPermalink

PART II--Reemployment NOW Program
Sec. 321. Establishment of Reemployment NOW program.CommentsClose CommentsPermalink

Sec. 322. Distribution of funds.CommentsClose CommentsPermalink

Sec. 323. State plan.CommentsClose CommentsPermalink

Sec. 324. Bridge to Work program.CommentsClose CommentsPermalink

Sec. 325. Wage insurance.CommentsClose CommentsPermalink

Sec. 326. Enhanced reemployment strategies.CommentsClose CommentsPermalink

Sec. 327. Self-employment programs.CommentsClose CommentsPermalink

Sec. 328. Additional innovative programs.CommentsClose CommentsPermalink

Sec. 329. Guidance and additional requirements.CommentsClose CommentsPermalink

Sec. 330. Report of information and evaluations to Congress and the public.CommentsClose CommentsPermalink

Sec. 331. State.CommentsClose CommentsPermalink

PART III--Short-Time Compensation Program
Sec. 341. Treatment of short-time compensation programs.CommentsClose CommentsPermalink

Sec. 342. Temporary financing of short-time compensation payments in States with programs in law.CommentsClose CommentsPermalink

Sec. 343. Temporary financing of short-time compensation agreements.CommentsClose CommentsPermalink

Sec. 344. Grants for short-time compensation programs.CommentsClose CommentsPermalink

Sec. 345. Assistance and guidance in implementing programs.CommentsClose CommentsPermalink

Sec. 346. Reports.CommentsClose CommentsPermalink

Subtitle B--Long Term Unemployed Hiring Preferences
Sec. 351. Long term unemployed workers work opportunity tax credits.CommentsClose CommentsPermalink

Subtitle C--Pathways Back to Work
Sec. 361. Short title.CommentsClose CommentsPermalink

Sec. 362. Establishment of Pathways Back to Work Fund.CommentsClose CommentsPermalink

Sec. 363. Availability of funds.CommentsClose CommentsPermalink

Sec. 364. Subsidized employment for unemployed, low-income adults.CommentsClose CommentsPermalink

Sec. 365. Summer employment and year-round employment opportunities for low-income youth.CommentsClose CommentsPermalink

Sec. 366. Work-based employment strategies of demonstrated effectiveness.CommentsClose CommentsPermalink

Sec. 367. General requirements.CommentsClose CommentsPermalink

Sec. 368. Definitions.CommentsClose CommentsPermalink

Subtitle D--Prohibition of Discrimination in Employment on the Basis of an Individual’s Status as Unemployed
Sec. 371. Short title.CommentsClose CommentsPermalink

Sec. 372. Findings and purpose.CommentsClose CommentsPermalink

Sec. 373. Definitions.CommentsClose CommentsPermalink

Sec. 374. Prohibited acts.CommentsClose CommentsPermalink

Sec. 375. Enforcement.CommentsClose CommentsPermalink

Sec. 376. Federal and State immunity.CommentsClose CommentsPermalink

Sec. 377. Relationship to other laws.CommentsClose CommentsPermalink

Sec. 378. Severability.CommentsClose CommentsPermalink

Sec. 379. Effective date.CommentsClose CommentsPermalink

TITLE IV--OFFSETS
Subtitle A--28 Percent Limitation on Certain Deductions and Exclusions
Sec. 401. 28 percent limitation on certain deductions and exclusions.CommentsClose CommentsPermalink

Subtitle B--Tax Carried Interest in Investment Partnerships as Ordinary Income
Sec. 411. Partnership interests transferred in connection with performance of services.CommentsClose CommentsPermalink

Sec. 412. Special rules for partners providing investment management services to partnerships.CommentsClose CommentsPermalink

Subtitle C--Close Loophole for Corporate Jet Depreciation
Sec. 421. General aviation aircraft treated as 7-year property.CommentsClose CommentsPermalink

Subtitle D--Repeal Oil Subsidies
Sec. 431. Repeal of deduction for intangible drilling and development costs in the case of oil and gas wells.CommentsClose CommentsPermalink

Sec. 432. Repeal of deduction for tertiary injectants.CommentsClose CommentsPermalink

Sec. 433. Repeal of percentage depletion for oil and gas wells.CommentsClose CommentsPermalink

Sec. 434. Section 199 deduction not allowed with respect to oil, natural gas, or primary products thereof.CommentsClose CommentsPermalink

Sec. 435. Repeal oil and gas working interest exception to passive activity rules.CommentsClose CommentsPermalink

Sec. 436. Uniform seven-year amortization for geological and geophysical expenditures.CommentsClose CommentsPermalink

Sec. 437. Repeal enhanced oil recovery credit.CommentsClose CommentsPermalink

Sec. 438. Repeal marginal well production credit.CommentsClose CommentsPermalink

Subtitle E--Dual Capacity Taxpayers
Sec. 441. Modifications of foreign tax credit rules applicable to dual capacity taxpayers.CommentsClose CommentsPermalink

Sec. 442. Separate basket treatment taxes paid on foreign oil and gas income.CommentsClose CommentsPermalink

Subtitle F--Increased Target and Trigger for Joint Select Committee on Deficit Reduction
Sec. 451. Increased target and trigger for Joint Select Committee on Deficit Reduction.CommentsClose CommentsPermalink

SEC. 2. REFERENCES.
Except as expressly provided otherwise, any reference to ‘this Act’ contained in any subtitle of this Act shall be treated as referring only to the provisions of that subtitle.CommentsClose CommentsPermalink

SEC. 3. SEVERABILITY.
If any provision of this Act, or the application thereof to any person or circumstance, is held invalid, the remainder of the Act and the application of such provision to other persons or circumstances shall not be affected thereby.CommentsClose CommentsPermalink

SEC. 4. BUY AMERICAN--USE OF AMERICAN IRON, STEEL, AND MANUFACTURED GOODS.
(a) None of the funds appropriated or otherwise made available by this Act may be used for a project for the construction, alteration, maintenance, or repair of a public building or public work unless all of the iron, steel, and manufactured goods used in the project are produced in the United States.CommentsClose CommentsPermalink

(b) Subsection (a) shall not apply in any case or category of cases in which the head of the Federal department or agency involved finds that--CommentsClose CommentsPermalink

(1) applying subsection (a) would be inconsistent with the public interest;CommentsClose CommentsPermalink

(2) iron, steel, and the relevant manufactured goods are not produced in the United States in sufficient and reasonably available quantities and of a satisfactory quality; orCommentsClose CommentsPermalink

(3) inclusion of iron, steel, and manufactured goods produced in the United States will increase the cost of the overall project by more than 25 percent.CommentsClose CommentsPermalink

(c) If the head of a Federal department or agency determines that it is necessary to waive the application of subsection (a) based on a finding under subsection (b), the head of the department or agency shall publish in the Federal Register a detailed written justification as to why the provision is being waived.CommentsClose CommentsPermalink

(d) This section shall be applied in a manner consistent with United States obligations under international agreements.CommentsClose CommentsPermalink

SEC. 5. WAGE RATE AND EMPLOYMENT PROTECTION REQUIREMENTS.
(a) Notwithstanding any other provision of law and in a manner consistent with other provisions in this Act, all laborers and mechanics employed by contractors and subcontractors on projects funded directly by or assisted in whole or in part by and through the Federal Government pursuant to this Act shall be paid wages at rates not less than those prevailing on projects of a character similar in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code.CommentsClose CommentsPermalink

(b) With respect to the labor standards specified in this section, the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and

(c) Projects as defined under title 49, United States Code, funded directly by or assisted in whole or in part by and through the Federal Government pursuant to this Act shall be subject to the requirements of

TITLE I--RELIEF FOR WORKERS AND BUSINESSESCommentsClose CommentsPermalink

TITLE I--RELIEF FOR WORKERS AND BUSINESSESCommentsClose CommentsPermalink

Subtitle A--Payroll Tax ReliefCommentsClose CommentsPermalink

Subtitle A--Payroll Tax ReliefCommentsClose CommentsPermalink

SEC. 101. TEMPORARY PAYROLL TAX CUT FOR EMPLOYERS, EMPLOYEES AND THE SELF-EMPLOYED.
(a) Wages- Notwithstanding any other provision of law--CommentsClose CommentsPermalink

(1) with respect to remuneration received during the payroll tax holiday period, the rate of tax under 3101(a) of the Internal Revenue Code of 1986 shall be 3.1 percent (including for purposes of determining the applicable percentage under sections 3201(a) and 3211(a) of such Code), andCommentsClose CommentsPermalink

(2) with respect to remuneration paid during the payroll tax holiday period, the rate of tax under 3111(a) of such Code shall be 3.1 percent (including for purposes of determining the applicable percentage under sections 3221(a) and 3211(a) of such Code).CommentsClose CommentsPermalink

(3) Subsection (a)(2) shall only apply to--CommentsClose CommentsPermalink

(A) employees performing services in a trade or business of a qualified employer, orCommentsClose CommentsPermalink

(B) in the case of a qualified employer exempt from tax under section 501(a), in furtherance of the activities related to the purpose or function constituting the basis of the employer’s exemption under section 501.CommentsClose CommentsPermalink

(4) Subsection (a)(2) shall apply only to the first $5 million of remuneration or compensation paid by a qualified employer subject to section 3111(a) or a corresponding amount of compensation subject to 3221(a).CommentsClose CommentsPermalink

(b) Self-Employment Taxes-CommentsClose CommentsPermalink

(1) IN GENERAL- Notwithstanding any other provision of law, with respect to any taxable year which begins in the payroll tax holiday period, the rate of tax under section 1401(a) of the Internal Revenue Code of 1986 shall be--CommentsClose CommentsPermalink

(A) 6.2 percent on the portion of net earnings from self-employment subject to 1401(a) during the payroll tax period that does not exceed the amount of the excess of $5 million over total remuneration, if any, subject to section 3111(a) paid during the payroll tax holiday period to employees of the self-employed person, andCommentsClose CommentsPermalink

(B) 9.3 percent for any portion of net earnings from self-employment not subject to subsection (b)(1)(A).CommentsClose CommentsPermalink

(2) COORDINATION WITH DEDUCTIONS FOR EMPLOYMENT TAXES- For purposes of the Internal Revenue Code of 1986, in the case of any taxable year which begins in the payroll tax holiday period--CommentsClose CommentsPermalink

(A) DEDUCTION IN COMPUTING NET EARNINGS FROM SELF-EMPLOYMENT- The deduction allowed under section 1402(a)(12) of such Code shall be the sum of (i) 4.55 percent times the amount of the taxpayer’s net earnings from self-employment for the taxable year subject to paragraph (b)(1)(A) of this section, plus (ii) 7.65 percent of the taxpayer’s net earnings from self-employment in excess of that amount.CommentsClose CommentsPermalink

(B) INDIVIDUAL DEDUCTION- The deduction under section 164(f) of such Code shall be equal to the sum of (i) one-half of the taxes imposed by section 1401 (after the application of this section) with respect to the taxpayer’s net earnings from self-employment for the taxable year subject to paragraph (b)(1)(A) of this section plus (ii) 62.7 percent of the taxes imposed by section 1401 (after the application of this section) with respect to the excess.CommentsClose CommentsPermalink

(c) Regulatory Authority- The Secretary may prescribe any such regulations or other guidance necessary or appropriate to carry out this section, including the allocation of the excess of $5 million over total remuneration subject to section 3111(a) paid during the payroll tax holiday period among related taxpayers treated as a single qualified employer.CommentsClose CommentsPermalink

(d) Definitions-CommentsClose CommentsPermalink

(1) PAYROLL TAX HOLIDAY PERIOD- The term ‘payroll tax holiday period’ means calendar year 2012.CommentsClose CommentsPermalink

(2) QUALIFIED EMPLOYER- For purposes of this paragraph,CommentsClose CommentsPermalink

(A) IN GENERAL- The term ‘qualified employer’ means any employer other than the United States, any State or possession of the United States, or any political subdivision thereof, or any instrumentality of the foregoing.CommentsClose CommentsPermalink

(B) TREATMENT OF EMPLOYEES OF POST-SECONDARY EDUCATIONAL INSTITUTIONS- Notwithstanding paragraph (A), the term ‘qualified employer’ includes any employer which is a public institution of higher education (as defined in section 101 of the Higher Education Act of 1965).CommentsClose CommentsPermalink

(3) AGGREGATION RULES- For purposes of this subsection rules similar to sections 414(b), 414(c), 414(m) and 414(o) shall apply to determine when multiple entities shall be treated as a single employer, and rules with respect to predecessor and successor employers may be applied, in such manner as may be prescribed by the Secretary.CommentsClose CommentsPermalink

(e) Transfers of Funds-CommentsClose CommentsPermalink

(1) TRANSFERS TO FEDERAL OLD-AGE AND SURVIVORS INSURANCE TRUST FUND- There are hereby appropriated to the Federal Old-Age and Survivors Trust Fund and the Federal Disability Insurance Trust Fund established under section 201 of the Social Security Act (

(2) TRANSFERS TO SOCIAL SECURITY EQUIVALENT BENEFIT ACCOUNT- There are hereby appropriated to the Social Security Equivalent Benefit Account established under section 15A(a) of the Railroad Retirement Act of 1974 (

(f) Coordination With Other Federal Laws- For purposes of applying any provision of Federal law other than the provisions of the Internal Revenue Code of 1986, the rate of tax in effect under section 3101(a) of such Code shall be determined without regard to the reduction in such rate under this section.CommentsClose CommentsPermalink

SEC. 102. TEMPORARY TAX CREDIT FOR INCREASED PAYROLL.
(a) In General- Notwithstanding any other provision of law, each qualified employer shall be allowed, with respect to wages for services performed for such qualified employer, a payroll increase credit determined as follows:CommentsClose CommentsPermalink

(1) With respect to the period from October 1, 2011 through December 31, 2011, 6.2 percent of the excess, if any, (but not more than $12.5 million of the excess) of the wages subject to tax under section 3111(a) of the Internal Revenue Code of 1986 for such period over such wages for the corresponding period of 2010.CommentsClose CommentsPermalink

(2) With respect to the period from January 1, 2012 through December 31, 2012,CommentsClose CommentsPermalink

(A) 6.2 percent of the excess, if any, (but not more than $50 million of the excess) of the wages subject to tax under section 3111(a) of the Internal Revenue Code of 1986 for such period over such wages for calendar year 2011, minusCommentsClose CommentsPermalink

(B) 3.1 percent of the result (but not less than zero) of subtracting from $5 million such wages for calendar year 2011.CommentsClose CommentsPermalink

(3) In the case of a qualified employer for which the wages subject to tax under section 3111(a) of the Internal Revenue Code of 1986 (a) were zero for the corresponding period of 2010 referred to in subsection (a)(1), the amount of such wages shall be deemed to be 80 percent of the amount of wages taken into account for the period from October 1, 2011 through December 31, 2011 and (b) were zero for the calendar year 2011 referred to in subsection (a)(2), then the amount of such wages shall be deemed to be 80 percent of the amount of wages taken into account for 2012.CommentsClose CommentsPermalink

(4) This subsection (a) shall only apply with respect to the wages of employees performing services in a trade or business of a qualified employer or, in the case of a qualified employer exempt from tax under section 501(a) of the Internal Revenue Code of 1986, in furtherance of the activities related to the purpose or function constituting the basis of the employer’s exemption under section 501.CommentsClose CommentsPermalink

(b) Qualified Employers- For purposes of this section--CommentsClose CommentsPermalink

(1) IN GENERAL- The term ‘qualified employer’ means any employer other than the United States, any State or possession of the United States, or any political subdivision thereof, or any instrumentality of the foregoing.CommentsClose CommentsPermalink

(2) TREATMENT OF EMPLOYEES OF POST-SECONDARY EDUCATIONAL INSTITUTIONS- Notwithstanding subparagraph (1), the term ‘qualified employer’ includes any employer which is a public institution of higher education (as defined in section 101 of the Higher Education Act of 1965).CommentsClose CommentsPermalink

(c) Aggregation Rules- For purposes of this subsection rules similar to sections 414(b), 414(c), 414(m) and 414(o) of the Internal Revenue Code of 1986 shall apply to determine when multiple entities shall be treated as a single employer, and rules with respect to predecessor and successor employers may be applied, in such manner as may be prescribed by the Secretary.CommentsClose CommentsPermalink

(d) Application of Credits- The payroll increase credit shall be treated as a credit allowable under Subtitle C of the Internal Revenue Code of 1986 under rules prescribed by the Secretary of the Treasury, provided that the amount so treated for the period described in subsection (a)(1) or subsection (a)(2) shall not exceed the amount of tax imposed on the qualified employer under section 3111(a) of such Code for the relevant period. Any income tax deduction by a qualified employer for amounts paid under section 3111(a) of such Code or similar Railroad Retirement Tax provisions shall be reduced by the amounts so credited.CommentsClose CommentsPermalink

(e) Transfers to Federal Old-Age and Survivors Insurance Trust Fund- There are hereby appropriated to the Federal Old-Age and Survivors Trust Fund and the Federal Disability Insurance Trust Fund established under section 201 of the Social Security Act (

(f) Application to Railroad Retirement Taxes- For purposes of qualified employers that are employers under section 3231(a) of the Internal Revenue Code of 1986, subsections (a)(1) and (a)(2) of this section shall apply by substituting section 3221 for section 3111, and substituting the term ‘compensation’ for ‘wages’ as appropriate.CommentsClose CommentsPermalink

Subtitle B--Other Relief for BusinessesCommentsClose CommentsPermalink

Subtitle B--Other Relief for BusinessesCommentsClose CommentsPermalink

SEC. 111. EXTENSION OF TEMPORARY 100 PERCENT BONUS DEPRECIATION FOR CERTAIN BUSINESS ASSETS.
(a) In General- Paragraph (5) of section 168(k) of the Internal Revenue Code is amended--CommentsClose CommentsPermalink

(1) by striking ‘January 1, 2012’ each place it appears and inserting ‘January 1, 2013’, andCommentsClose CommentsPermalink

(2) by striking ‘January 1, 2013’ and inserting ‘January 1, 2014’.CommentsClose CommentsPermalink

(b) Conforming Amendment- The heading for paragraph (5) of section 168(k) of the Internal Revenue Code is amended by striking ‘PRE-2012 PERIODS’ and inserting ‘PRE-2013 PERIODS’.CommentsClose CommentsPermalink

SEC. 112. SURETY BONDS.
(a) Maximum Bond Amount- Section 411(a)(1) of the Small Business Investment Act of 1958 (

(b) Denial of Liability- Section 411(e)(2) of the Small Business Investment Act of 1958 (

(c) Sunset- The amendments made by subsections (a) and (b) of this section shall remain in effect until September 30, 2012.CommentsClose CommentsPermalink

(d) Funding- There is appropriated out of any money in the Treasury not otherwise appropriated, $3,000,000, to remain available until expended, for additional capital for the Surety Bond Guarantees Revolving Fund, as authorized by the Small Business Investment Act of 1958, as amended.CommentsClose CommentsPermalink

SEC. 113. DELAY IN APPLICATION OF WITHHOLDING ON GOVERNMENT CONTRACTORS.
Subsection (b) of section 511 of the Tax Increase Prevention and Reconciliation Act of 2005 is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2013’.CommentsClose CommentsPermalink

TITLE II--PUTTING WORKERS BACK ON THE JOB WHILE REBUILDING AND MODERNIZING AMERICACommentsClose CommentsPermalink

TITLE II--PUTTING WORKERS BACK ON THE JOB WHILE REBUILDING AND MODERNIZING AMERICACommentsClose CommentsPermalink

Subtitle A--Veterans Hiring PreferencesCommentsClose CommentsPermalink

Subtitle A--Veterans Hiring PreferencesCommentsClose CommentsPermalink

SEC. 201. RETURNING HEROES AND WOUNDED WARRIORS WORK OPPORTUNITY TAX CREDITS.
(a) In General- Paragraph (3) of section 51(b) of the Internal Revenue Code is amended by striking ‘($12,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii))’ and inserting ‘($12,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii)(I), $14,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(iv), and $24,000 per year in the case of any individual who is a qualified veteran by reason of subsection (d)(3)(A)(ii)(II))’.CommentsClose CommentsPermalink

(b) Returning Heroes Tax Credits- Section 51(d)(3)(A) of the Internal Revenue Code is amended by striking ‘or’ at the end of paragraph (3)(A)(i), and inserting the following new paragraphs after paragraph (ii)--CommentsClose CommentsPermalink

‘(iii) having aggregate periods of unemployment during the 1-year period ending on the hiring date which equal or exceed 4 weeks (but less than 6 months), orCommentsClose CommentsPermalink
‘(iv) having aggregate periods of unemployment during the 1-year period ending on the hiring date which equal or exceed 6 months.’.CommentsClose CommentsPermalink
(c) Simplified Certification- Section 51(d) of the Internal Revenue Code is amended by adding a new paragraph 15 as follows--CommentsClose CommentsPermalink

‘(15) CREDIT ALLOWED FOR UNEMPLOYED VETERANS-CommentsClose CommentsPermalink
‘(A) IN GENERAL- Any qualified veteran under paragraphs (3)(A)(ii)(II), (3)(A)(iii), and (3)(A)(iv) will be treated as certified by the designated local agency as having aggregate periods of unemployment if--CommentsClose CommentsPermalink
‘(i) in the case of qualified veterans under paragraphs (3)(A)(ii)(II) and (3)(A)(iv), the veteran is certified by the designated local agency as being in receipt of unemployment compensation under State or Federal law for not less than 6 months during the 1-year period ending on the hiring date; orCommentsClose CommentsPermalink
‘(ii) in the case of a qualified veteran under paragraph (3)(A)(iii), the veteran is certified by the designated local agency as being in receipt of unemployment compensation under State or Federal law for not less than 4 weeks (but less than 6 months) during the 1-year period ending on the hiring date.CommentsClose CommentsPermalink
‘(B) REGULATORY AUTHORITY- The Secretary in his discretion may provide alternative methods for certification.’.CommentsClose CommentsPermalink
(d) Credit Made Available to Tax-Exempt Employers in Certain Circumstances- Section 52(c) of the Internal Revenue Code is amended--CommentsClose CommentsPermalink

(1) by striking the word ‘No’ at the beginning of the section and replacing it with ‘Except as provided in this subsection, no’;CommentsClose CommentsPermalink

(2) the following new paragraphs are inserted at the end of section 52(c)--CommentsClose CommentsPermalink

‘(1) IN GENERAL- In the case of a tax-exempt employer, there shall be treated as a credit allowable under subpart C (and not allowable under subpart D) the lesser of--CommentsClose CommentsPermalink
‘(A) the amount of the work opportunity credit determined under this subpart with respect to such employer that is related to the hiring of qualified veterans described in sections 51(d)(3)(A)(ii)(II), (iii) or (iv); orCommentsClose CommentsPermalink
‘(B) the amount of the payroll taxes of the employer during the calendar year in which the taxable year begins.CommentsClose CommentsPermalink
‘(2) CREDIT AMOUNT- In calculating for tax-exempt employers, the work opportunity credit shall be determined by substituting ‘26 percent’ for ‘40 percent’ in section 51(a) and by substituting ‘16.25 percent’ for ‘25 percent’ in section 51(i)(3)(A).CommentsClose CommentsPermalink
‘(3) TAX-EXEMPT EMPLOYER- For purposes of this subpart, the term ‘tax-exempt employer’ means an employer that is--CommentsClose CommentsPermalink
‘(i) an organization described in section 501(c) and exempt from taxation under section 501(a), orCommentsClose CommentsPermalink
‘(ii) a public higher education institution (as defined in section 101 of the Higher Education Act of 1965).CommentsClose CommentsPermalink
‘(4) PAYROLL TAXES- For purposes of this subsection--CommentsClose CommentsPermalink
‘(A) IN GENERAL- The term ‘payroll taxes’ means--CommentsClose CommentsPermalink
‘(i) amounts required to be withheld from the employees of the tax-exempt employer under section 3401(a),CommentsClose CommentsPermalink
‘(ii) amounts required to be withheld from such employees under section 3101(a), andCommentsClose CommentsPermalink
‘(iii) amounts of the taxes imposed on the tax-exempt employer under section 3111(a).’.CommentsClose CommentsPermalink
(e) Treatment of Possessions-CommentsClose CommentsPermalink

(1) PAYMENTS TO POSSESSIONS-CommentsClose CommentsPermalink

(A) MIRROR CODE POSSESSIONS- The Secretary of the Treasury shall pay to each possession of the United States with a mirror code tax system amounts equal to the loss to that possession by reason of the application of this section (other than this subsection). Such amounts shall be determined by the Secretary of the Treasury based on information provided by the government of the respective possession of the United States.CommentsClose CommentsPermalink

(B) OTHER POSSESSIONS- The Secretary of the Treasury shall pay to each possession of the United States, which does not have a mirror code tax system, amounts estimated by the Secretary of the Treasury as being equal to the aggregate credits that would have been provided by the possession by reason of the application of this section (other than this subsection) if a mirror code tax system had been in effect in such possession. The preceding sentence shall not apply with respect to any possession of the United States unless such possession has a plan, which has been approved by the Secretary of the Treasury, under which such possession will promptly distribute such payments.CommentsClose CommentsPermalink

(2) COORDINATION WITH CREDIT ALLOWED AGAINST UNITED STATES INCOME TAXES- No increase in the credit determined under section 38(b) of the Internal Revenue Code of 1986 that is attributable to the credit provided by this section (other than this subsection (e)) shall be taken into account with respect to any person--CommentsClose CommentsPermalink

(A) to whom a credit is allowed against taxes imposed by the possession of the United States by reason of this section for such taxable year, orCommentsClose CommentsPermalink

(B) who is eligible for a payment under a plan described in paragraph (1)(B) with respect to such taxable year.CommentsClose CommentsPermalink

(3) DEFINITIONS AND SPECIAL RULES-CommentsClose CommentsPermalink

(A) POSSESSION OF THE UNITED STATES- For purposes of this subsection (e), the term ‘possession of the United States’ includes American Samoa, the Commonwealth of the Northern Mariana Islands, the Commonwealth of Puerto Rico, Guam, and the United States Virgin Islands.CommentsClose CommentsPermalink

(B) MIRROR CODE TAX SYSTEM- For purposes of this subsection, the term ‘mirror code tax system’ means, with respect to any possession of the United States, the income tax system of such possession if the income tax liability of the residents of such possession under such system is determined by reference to the income tax laws of the United States as if such possession were the United States.CommentsClose CommentsPermalink

(C) TREATMENT OF PAYMENTS- For purposes of

(f) Effective Date- The amendment made by this section shall apply to individuals who begin work for the employer after the date of the enactment of this Act.CommentsClose CommentsPermalink

Subtitle B--Teacher StabilizationCommentsClose CommentsPermalink

Subtitle B--Teacher StabilizationCommentsClose CommentsPermalink

SEC. 202. PURPOSE.
The purpose of this subtitle is to provide funds to States to prevent teacher layoffs and support the creation of additional jobs in public early childhood, elementary, and secondary education in the 2011-2012 and 2012-2013 school years.CommentsClose CommentsPermalink

SEC. 203. GRANTS FOR THE OUTLYING AREAS AND THE SECRETARY OF THE INTERIOR; AVAILABILITY OF FUNDS.
(a) Reservation of Funds- From the amount appropriated to carry out this subtitle under section 212, the Secretary--CommentsClose CommentsPermalink

(1) shall reserve up to one-half of one percent to provide assistance to the outlying areas on the basis of their respective needs, as determined by the Secretary, for activities consistent with this part under such terms and conditions as the Secretary may determine;CommentsClose CommentsPermalink

(2) shall reserve up to one-half of one percent to provide assistance to the Secretary of the Interior to carry out activities consistent with this part, in schools operated or funded by the Bureau of Indian Education; andCommentsClose CommentsPermalink

(3) may reserve up to $2,000,000 for administration and oversight of this part, including program evaluation.CommentsClose CommentsPermalink

(b) Availability of Funds- Funds made available under section 212 shall remain available to the Secretary until September 30, 2012.CommentsClose CommentsPermalink

SEC. 204. STATE ALLOCATION.
(a) Allocation- After reserving funds under section 203(a), the Secretary shall allocate to the States--CommentsClose CommentsPermalink

(1) 60 percent on the basis of their relative population of individuals aged 5 through 17; andCommentsClose CommentsPermalink

(2) 40 percent on the basis of their relative total population.CommentsClose CommentsPermalink

(b) Awards- From the funds allocated under subsection (a), the Secretary shall make a grant to the Governor of each State who submits an approvable application under section 214.CommentsClose CommentsPermalink

(c) Alternate Distribution of Funds-CommentsClose CommentsPermalink

(1) If, within 30 days after the date of enactment of this Act, a Governor has not submitted an approvable application to the Secretary, the Secretary shall, consistent with paragraph (2), provide for funds allocated to that State to be distributed to another entity or other entities in the State for the support of early childhood, elementary, and secondary education, under such terms and conditions as the Secretary may establish.CommentsClose CommentsPermalink

(2) MAINTENANCE OF EFFORT-CommentsClose CommentsPermalink

(A) GOVERNOR ASSURANCE- The Secretary shall not allocate funds under paragraph (1) unless the Governor of the State provides an assurance to the Secretary that the State will for fiscal years 2012 and 2013 meet the requirements of section 209.CommentsClose CommentsPermalink

(B) Notwithstanding subparagraph (A), the Secretary may allocate up to 50 percent of the funds that are available to the State under paragraph (1) to another entity or entities in the State, provided that the State educational agency submits data to the Secretary demonstrating that the State will for fiscal year 2012 meet the requirements of section 209(a) or the Secretary otherwise determines that the State will meet those requirements, or such comparable requirements as the Secretary may establish, for that year.CommentsClose CommentsPermalink

(3) REQUIREMENTS- An entity that receives funds under paragraph (1) shall use those funds in accordance with the requirements of this subtitle.CommentsClose CommentsPermalink

(d) Reallocation- If a State does not receive funding under this subtitle or only receives a portion of its allocation under subsection (c), the Secretary shall reallocate the State’s entire allocation or the remaining portion of its allocation, as the case may be, to the remaining States in accordance with subsection (a).CommentsClose CommentsPermalink

SEC. 205. STATE APPLICATION.
The Governor of a State desiring to receive a grant under this subtitle shall submit an application to the Secretary within 30 days of the date of enactment of this Act, in such manner, and containing such information as the Secretary may reasonably require to determine the State’s compliance with applicable provisions of law.CommentsClose CommentsPermalink

SEC. 206. STATE RESERVATION AND RESPONSIBILITIES.
(a) Reservation- Each State receiving a grant under section 204(b) may reserve--CommentsClose CommentsPermalink

(1) not more than 10 percent of the grant funds for awards to State-funded early learning programs; andCommentsClose CommentsPermalink

(2) not more than 2 percent of the grant funds for the administrative costs of carrying out its responsibilities under this subtitle.CommentsClose CommentsPermalink

(b) State Responsibilities- Each State receiving a grant under this subtitle shall, after reserving any funds under subsection (a)--CommentsClose CommentsPermalink

(1) use the remaining grant funds only for awards to local educational agencies for the support of early childhood, elementary, and secondary education; andCommentsClose CommentsPermalink

(2) distribute those funds, through subgrants, to its local educational agencies by distributing--CommentsClose CommentsPermalink

(A) 60 percent on the basis of the local educational agencies’ relative shares of enrollment; andCommentsClose CommentsPermalink

(B) 40 percent on the basis of the local educational agencies’ relative shares of funds received under part A of title I of the Elementary and Secondary Education Act of 1965 for fiscal year 2011; andCommentsClose CommentsPermalink

(3) make those funds available to local educational agencies no later than 100 days after receiving a grant from the Secretary.CommentsClose CommentsPermalink

(c) Prohibitions- A State shall not use funds received under this subtitle to directly or indirectly--CommentsClose CommentsPermalink

(1) establish, restore, or supplement a rainy-day fund;CommentsClose CommentsPermalink

(2) supplant State funds in a manner that has the effect of establishing, restoring, or supplementing a rainy-day fund;CommentsClose CommentsPermalink

(3) reduce or retire debt obligations incurred by the State; orCommentsClose CommentsPermalink

(4) supplant State funds in a manner that has the effect of reducing or retiring debt obligations incurred by the State.CommentsClose CommentsPermalink

SEC. 207. LOCAL EDUCATIONAL AGENCIES.
Each local educational agency that receives a subgrant under this subtitle--CommentsClose CommentsPermalink

(1) shall use the subgrant funds only for compensation and benefits and other expenses, such as support services, necessary to retain existing employees, recall or rehire former employees, or hire new employees to provide early childhood, elementary, or secondary educational and related services;CommentsClose CommentsPermalink

(2) shall obligate those funds no later than September 30, 2013; andCommentsClose CommentsPermalink

(3) may not use those funds for general administrative expenses or for other support services or expenditures, as those terms are defined by the National Center for Education Statistics in the Common Core of Data, as of the date of enactment of this Act.CommentsClose CommentsPermalink

SEC. 208. EARLY LEARNING.
Each State-funded early learning program that receives funds under this subtitle shall--CommentsClose CommentsPermalink

(1) use those funds only for compensation, benefits, and other expenses, such as support services, necessary to retain early childhood educators, recall or rehire former early childhood educators, or hire new early childhood educators to provide early learning services; andCommentsClose CommentsPermalink

(2) obligate those funds no later than September 30, 2013.CommentsClose CommentsPermalink

SEC. 209. MAINTENANCE OF EFFORT.
(a) The Secretary shall not allocate funds to a State under this subtitle unless the State provides an assurance to the Secretary that--CommentsClose CommentsPermalink

(1) for State fiscal year 2012--CommentsClose CommentsPermalink

(A) the State will maintain State support for early childhood, elementary, and secondary education (in the aggregate or on the basis of expenditure per pupil) and for public institutions of higher education (not including support for capital projects or for research and development or tuition and fees paid by students) at not less than the level of such support for each of the two categories for State fiscal year 2011; orCommentsClose CommentsPermalink

(B) the State will maintain State support for early childhood, elementary, and secondary education and for public institutions of higher education (not including support for capital projects or for research and development or tuition and fees paid by students) at a percentage of the total revenues available to the State that is equal to or greater than the percentage provided for State fiscal year 2011; andCommentsClose CommentsPermalink

(2) for State fiscal year 2013--CommentsClose CommentsPermalink

(A) the State will maintain State support for early childhood, elementary, and secondary education (in the aggregate or on the basis of expenditure per pupil) and for public institutions of higher education (not including support for capital projects or for research and development or tuition and fees paid by students) at not less than the level of such support for each of the two categories for State fiscal year 2012; orCommentsClose CommentsPermalink

(B) the State will maintain State support for early childhood, elementary, and secondary education and for public institutions of higher education (not including support for capital projects or for research and development or tuition and fees paid by students) at a percentage of the total revenues available to the State that is equal to or greater than the percentage provided for State fiscal year 2012.CommentsClose CommentsPermalink

(b) Waiver- The Secretary may waive the requirements of this section if the Secretary determines that a waiver would be equitable due to--CommentsClose CommentsPermalink

(1) exceptional or uncontrollable circumstances, such as a natural disaster; orCommentsClose CommentsPermalink

(2) a precipitous decline in the financial resources of the State.CommentsClose CommentsPermalink

SEC. 210. REPORTING.
Each State that receives a grant under this subtitle shall submit, on an annual basis, a report to the Secretary that contains--CommentsClose CommentsPermalink

(1) a description of how funds received under this part were expended or obligated; andCommentsClose CommentsPermalink

(2) an estimate of the number of jobs supported by the State using funds received under this subtitle.CommentsClose CommentsPermalink

SEC. 211. DEFINITIONS.
(a) Except as otherwise provided, the terms ‘local educational agency’, ‘outlying area’, ‘Secretary’, ‘State’, and ‘State educational agency’ have the meanings given those terms in section 9101 of the Elementary and Secondary Education Act of 1965 (

(b) The term ‘State’ does not include an outlying area.CommentsClose CommentsPermalink

(c) The term ‘early childhood educator’ means an individual who--CommentsClose CommentsPermalink

(1) works directly with children in a State-funded early learning program in a low-income community;CommentsClose CommentsPermalink

(2) is involved directly in the care, development, and education of infants, toddlers, or young children age five and under; andCommentsClose CommentsPermalink

(3) has completed a baccalaureate or advanced degree in early childhood development or early childhood education, or in a field related to early childhood education.CommentsClose CommentsPermalink

(d) The term ‘State-funded early learning program’ means a program that provides educational services to children from birth to kindergarten entry and receives funding from the State.CommentsClose CommentsPermalink

SEC. 212. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated, and there are appropriated, $30,000,000,000 to carry out this subtitle for fiscal year 2012.CommentsClose CommentsPermalink

Subtitle C--First Responder StabilizationCommentsClose CommentsPermalink

Subtitle C--First Responder StabilizationCommentsClose CommentsPermalink

SEC. 213. PURPOSE.
The purpose of this subtitle is to provide funds to States and localities to prevent layoffs of, and support the creation of additional jobs for, law enforcement officers and other first responders.CommentsClose CommentsPermalink

SEC. 214. GRANT PROGRAM.
The Attorney General shall carry out a competitive grant program pursuant to section 1701 of title I of the Omnibus Crime Control and Safe Streets Act of 1968 (

SEC. 215. APPROPRIATIONS.
There are hereby appropriated to the Community Oriented Policing Stabilization Fund out of any money in the Treasury not otherwise obligated, $5,000,000,000, to remain available until September 30, 2012, of which $4,000,000,000 shall be for the Attorney General to carry out the competitive grant program under Section 214; and of which $1,000,000,000 shall be transferred by the Attorney General to a First Responder Stabilization Fund from which the Secretary of Homeland Security shall make competitive grants for hiring, rehiring, or retention pursuant to the Federal Fire Prevention and Control Act of 1974 (

Subtitle D--School ModernizationCommentsClose CommentsPermalink

Subtitle D--School ModernizationCommentsClose CommentsPermalink

PART I--ELEMENTARY AND SECONDARY SCHOOLS
SEC. 221. PURPOSE.
The purpose of this part is to provide assistance for the modernization, renovation, and repair of elementary and secondary school buildings in public school districts across America in order to support the achievement of improved educational outcomes in those schools.CommentsClose CommentsPermalink

SEC. 222. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated, and there are appropriated, $25,000,000,000 to carry out this part, which shall be available for obligation by the Secretary until September 30, 2012.CommentsClose CommentsPermalink

SEC. 223. ALLOCATION OF FUNDS.
(a) Reservations- Of the amount made available to carry out this part, the Secretary shall reserve--CommentsClose CommentsPermalink

(1) one-half of one percent for the Secretary of the Interior to carry out modernization, renovation, and repair activities described in section 226 in schools operated or funded by the Bureau of Indian Education;CommentsClose CommentsPermalink

(2) one-half of one percent to make grants to the outlying areas for modernization, renovation, and repair activities described in section 226; andCommentsClose CommentsPermalink

(3) such funds as the Secretary determines are needed to conduct a survey, by the National Center for Education Statistics, of the school construction, modernization, renovation, and repair needs of the public schools of the United States.CommentsClose CommentsPermalink

(b) State Allocation- After reserving funds under subsection (a), the Secretary shall allocate the remaining amount among the States in proportion to their respective allocations under part A of title I of the Elementary and Secondary Education Act (ESEA) (

(1) the Secretary shall allocate 40 percent of such remaining amount to the 100 local educational agencies with the largest numbers of children aged 5-17 living in poverty, as determined using the most recent data available from the Department of Commerce that are satisfactory to the Secretary, in proportion to those agencies’ respective allocations under part A of title I of the ESEA for fiscal year 2011; andCommentsClose CommentsPermalink

(2) the allocation to any State shall be reduced by the aggregate amount of the allocations under paragraph (1) to local educational agencies in that State.CommentsClose CommentsPermalink

(c) Remaining Allocation-CommentsClose CommentsPermalink

(1) If a State does not apply for its allocation (or applies for less than the full allocation for which it is eligible) or does not use that allocation in a timely manner, the Secretary may--CommentsClose CommentsPermalink

(A) reallocate all or a portion of that allocation to the other States in accordance with subsection (b); orCommentsClose CommentsPermalink

(B) use all or a portion of that allocation to make direct allocations to local educational agencies within the State based on their respective allocations under part A of title I of the ESEA for fiscal year 2011 or such other method as the Secretary may determine.CommentsClose CommentsPermalink

(2) If a local educational agency does not apply for its allocation under subsection (b)(1), applies for less than the full allocation for which it is eligible, or does not use that allocation in a timely manner, the Secretary may reallocate all or a portion of its allocation to the State in which that agency is located.CommentsClose CommentsPermalink

SEC. 224. STATE USE OF FUNDS.
(a) Reservation- Each State that receives a grant under this part may reserve not more than one percent of the State’s allocation under section 223(b) for the purpose of administering the grant, except that no State may reserve more than $750,000 for this purpose.CommentsClose CommentsPermalink

(b) Funds to Local Educational Agencies-CommentsClose CommentsPermalink

(1) FORMULA SUBGRANTS- From the grant funds that are not reserved under subsection (a), a State shall allocate at least 50 percent to local educational agencies, including charter schools that are local educational agencies, that did not receive funds under section 223(b)(1) from the Secretary, in accordance with their respective allocations under part A of title I of the ESEA for fiscal year 2011, except that no such local educational agency shall receive less than $10,000.CommentsClose CommentsPermalink

(2) ADDITIONAL SUBGRANTS- The State shall use any funds remaining, after reserving funds under subsection (a) and allocating funds under paragraph (1), for subgrants to local educational agencies that did not receive funds under section 223(b)(1), including charter schools that are local educational agencies, to support modernization, renovation, and repair projects that the State determines, using objective criteria, are most needed in the State, with priority given to projects in rural local educational agencies.CommentsClose CommentsPermalink

(c) Remaining Funds- If a local educational agency does not apply for an allocation under subsection (b)(1), applies for less than its full allocation, or fails to use that allocation in a timely manner, the State may reallocate any unused portion to other local educational agencies in accordance with subsection (b).CommentsClose CommentsPermalink

SEC. 225. STATE AND LOCAL APPLICATIONS.
(a) State Application- A State that desires to receive a grant under this part shall submit an application to the Secretary at such time, in such manner, and containing such information and assurances as the Secretary may require, which shall include--CommentsClose CommentsPermalink

(1) an identification of the State agency or entity that will administer the program; andCommentsClose CommentsPermalink

(2) the State’s process for determining how the grant funds will be distributed and administered, including--CommentsClose CommentsPermalink

(A) how the State will determine the criteria and priorities in making subgrants under section 224(b)(2);CommentsClose CommentsPermalink

(B) any additional criteria the State will use in determining which projects it will fund under that section;CommentsClose CommentsPermalink

(C) a description of how the State will consider--CommentsClose CommentsPermalink

(i) the needs of local educational agencies for assistance under this part;CommentsClose CommentsPermalink

(ii) the impact of potential projects on job creation in the State;CommentsClose CommentsPermalink

(iii) the fiscal capacity of local educational agencies applying for assistance;CommentsClose CommentsPermalink

(iv) the percentage of children in those local educational agencies who are from low-income families; andCommentsClose CommentsPermalink

(v) the potential for leveraging assistance provided by this program through matching or other financing mechanisms;CommentsClose CommentsPermalink

(D) a description of how the State will ensure that the local educational agencies receiving subgrants meet the requirements of this part;CommentsClose CommentsPermalink

(E) a description of how the State will ensure that the State and its local educational agencies meet the deadlines established in section 228;CommentsClose CommentsPermalink

(F) a description of how the State will give priority to the use of green practices that are certified, verified, or consistent with any applicable provisions of--CommentsClose CommentsPermalink

(i) the LEED Green Building Rating System;CommentsClose CommentsPermalink

(ii) Energy Star;CommentsClose CommentsPermalink

(iii) the CHPS Criteria;CommentsClose CommentsPermalink

(iv) Green Globes; orCommentsClose CommentsPermalink

(v) an equivalent program adopted by the State or another jurisdiction with authority over the local educational agency;CommentsClose CommentsPermalink

(G) a description of the steps that the State will take to ensure that local educational agencies receiving subgrants will adequately maintain any facilities that are modernized, renovated, or repaired with subgrant funds under this part; andCommentsClose CommentsPermalink

(H) such additional information and assurances as the Secretary may require.CommentsClose CommentsPermalink

(b) Local Application- A local educational agency that is eligible under section 223(b)(1) that desires to receive a grant under this part shall submit an application to the Secretary at such time, in such manner, and containing such information and assurances as the Secretary may require, which shall include--CommentsClose CommentsPermalink

(1) a description of how the local educational agency will meet the deadlines and requirements of this part;CommentsClose CommentsPermalink

(2) a description of the steps that the local educational agency will take to adequately maintain any facilities that are modernized, renovated, or repaired with funds under this part; andCommentsClose CommentsPermalink

(3) such additional information and assurances as the Secretary may require.CommentsClose CommentsPermalink

SEC. 226. USE OF FUNDS.
(a) In General- Funds awarded to local educational agencies under this part shall be used only for either or both of the following modernization, renovation, or repair activities in facilities that are used for elementary or secondary education or for early learning programs:CommentsClose CommentsPermalink

(1) Direct payments for school modernization, renovation, and repair.CommentsClose CommentsPermalink

(2) To pay interest on bonds or payments for other financing instruments that are newly issued for the purpose of financing school modernization, renovation, and repair.CommentsClose CommentsPermalink

(b) Supplement, Not Supplant- Funds made available under this part shall be used to supplement, and not supplant, other Federal, State, and local funds that would otherwise be expended to modernize, renovate, or repair eligible school facilities.CommentsClose CommentsPermalink

(c) Prohibition- Funds awarded to local educational agencies under this part may not be used for--CommentsClose CommentsPermalink

(1) new construction;CommentsClose CommentsPermalink

(2) payment of routine maintenance costs; orCommentsClose CommentsPermalink

(3) modernization, renovation, or repair of stadiums or other facilities primarily used for athletic contests or exhibitions or other events for which admission is charged to the general public.CommentsClose CommentsPermalink

SEC. 227. PRIVATE SCHOOLS.
(a) In General- Section 9501 of the ESEA (

(1) section 9501 shall not apply with respect to the title to any real property modernized, renovated, or repaired with assistance provided under this section;CommentsClose CommentsPermalink

(2) the term ‘services’, as used in section 9501 with respect to funds under this part, shall be provided only to private, nonprofit elementary or secondary schools with a rate of child poverty of at least 40 percent and may include only--CommentsClose CommentsPermalink

(A) modifications of school facilities necessary to meet the standards applicable to public schools under the Americans with Disabilities Act of 1990 (

(B) modifications of school facilities necessary to meet the standards applicable to public schools under section 504 of the Rehabilitation Act of 1973 (

(C) asbestos or polychlorinated biphenyls abatement or removal from school facilities; andCommentsClose CommentsPermalink

(3) expenditures for services provided using funds made available under section 226 shall be considered equal for purposes of section 9501(a)(4) of the ESEA if the per-pupil expenditures for services described in paragraph (2) for students enrolled in private nonprofit elementary and secondary schools that have child-poverty rates of at least 40 percent are consistent with the per-pupil expenditures under this subpart for children enrolled in the public schools of the local educational agency receiving funds under this subpart.CommentsClose CommentsPermalink

(b) Remaining Funds- If the expenditure for services described in paragraph (2) is less than the amount calculated under paragraph (3) because of insufficient need for those services, the remainder shall be available to the local educational agency for modernization, renovation, and repair of its school facilities.CommentsClose CommentsPermalink

(c) Application- If any provision of this section, or the application thereof, to any person or circumstance is judicially determined to be invalid, the remainder of the section and the application to other persons or circumstances shall not be affected thereby.CommentsClose CommentsPermalink

SEC. 228. ADDITIONAL PROVISIONS.
(a) Funds appropriated under section 222 shall be available for obligation by local educational agencies receiving grants from the Secretary under section 223(b)(1), by States reserving funds under section 224(a), and by local educational agencies receiving subgrants under section 224(b)(1) only during the period that ends 24 months after the date of enactment of this Act.CommentsClose CommentsPermalink

(b) Funds appropriated under section 222 shall be available for obligation by local educational agencies receiving subgrants under section 224(b)(2) only during the period that ends 36 months after the date of enactment of this Act.CommentsClose CommentsPermalink

(c) Section 439 of the General Education Provisions Act (

(d) For purposes of section 223(b)(1), Hawaii, the District of Columbia, and the Commonwealth of Puerto Rico are not local educational agencies.CommentsClose CommentsPermalink

PART II--COMMUNITY COLLEGE MODERNIZATION
SEC. 229. FEDERAL ASSISTANCE FOR COMMUNITY COLLEGE MODERNIZATION.
(a) In General-CommentsClose CommentsPermalink

(1) GRANT PROGRAM- From the amounts made available under subsection (h), the Secretary shall award grants to States to modernize, renovate, or repair existing facilities at community colleges.CommentsClose CommentsPermalink

(2) ALLOCATION-CommentsClose CommentsPermalink

(A) RESERVATIONS- Of the amount made available to carry out this section, the Secretary shall reserve--CommentsClose CommentsPermalink

(i) up to 0.25 percent for grants to institutions that are eligible under section 316 of the Higher Education Act of 1965 (

(ii) up to 0.25 percent for grants to the outlying areas to provide for modernization, renovation, and repair activities described in this section.CommentsClose CommentsPermalink

(B) ALLOCATION- After reserving funds under subparagraph (A), the Secretary shall allocate to each State that has an application approved by the Secretary an amount that bears the same relation to any remaining funds as the total number of students in such State who are enrolled in institutions described in section 230(b)(1)(A) plus the number of students who are estimated to be enrolled in and pursuing a degree or certificate that is not a bachelor’s, master’s, professional, or other advanced degree in institutions described in section 230(b)(1)(B), based on the proportion of degrees or certificates awarded by such institutions that are not bachelor’s, master’s, professional, or other advanced degrees, as reported to the Integrated Postsecondary Data System bears to the estimated total number of such students in all States, except that no State shall receive less than $2,500,000.CommentsClose CommentsPermalink

(C) REALLOCATION- Amounts not allocated under this section to a State because the State either did not submit an application under subsection (b), the State submitted an application that the Secretary determined did not meet the requirements of such subsection, or the State cannot demonstrate to the Secretary a sufficient demand for projects to warrant the full allocation of the funds, shall be proportionately reallocated under this paragraph to the other States that have a demonstrated need for, and are receiving, allocations under this section.CommentsClose CommentsPermalink

(D) STATE ADMINISTRATION- A State that receives a grant under this section may use not more than one percent of that grant to administer it, except that no State may use more than $750,000 of its grant for this purpose.CommentsClose CommentsPermalink

(3) SUPPLEMENT, NOT SUPPLANT- Funds made available under this section shall be used to supplement, and not supplant, other Federal, State, and local funds that would otherwise be expended to modernize, renovate, or repair existing community college facilities.CommentsClose CommentsPermalink

(b) Application- A State that desires to receive a grant under this section shall submit an application to the Secretary at such time, in such manner, and containing such information and assurances as the Secretary may require. Such application shall include a description of--CommentsClose CommentsPermalink

(1) how the funds provided under this section will improve instruction at community colleges in the State and will improve the ability of those colleges to educate and train students to meet the workforce needs of employers in the State; andCommentsClose CommentsPermalink

(2) the projected start of each project and the estimated number of persons to be employed in the project.CommentsClose CommentsPermalink

(c) Prohibited Uses of Funds-CommentsClose CommentsPermalink

(1) IN GENERAL- No funds awarded under this section may be used for--CommentsClose CommentsPermalink

(i) payment of routine maintenance costs;CommentsClose CommentsPermalink

(ii) construction, modernization, renovation, or repair of stadiums or other facilities primarily used for athletic contests or exhibitions or other events for which admission is charged to the general public; orCommentsClose CommentsPermalink

(iii) construction, modernization, renovation, or repair of facilities--CommentsClose CommentsPermalink

(I) used for sectarian instruction, religious worship, or a school or department of divinity; orCommentsClose CommentsPermalink

(II) in which a substantial portion of the functions of the facilities are subsumed in a religious mission.CommentsClose CommentsPermalink

(2) FOUR-YEAR INSTITUTIONS- No funds awarded to a four-year public institution of higher education under this section may be used for any facility, service, or program of the institution that is not available to students who are pursuing a degree or certificate that is not a bachelor’s, master’s, professional, or other advanced degree.CommentsClose CommentsPermalink

(d) Green Projects- In providing assistance to community college projects under this section, the State shall consider the extent to which a community college’s project involves activities that are certified, verified, or consistent with the applicable provisions of--CommentsClose CommentsPermalink

(1) the LEED Green Building Rating System;CommentsClose CommentsPermalink

(2) Energy Star;CommentsClose CommentsPermalink

(3) the CHPS Criteria, as applicable;CommentsClose CommentsPermalink

(4) Green Globes; orCommentsClose CommentsPermalink

(5) an equivalent program adopted by the State or the State higher education agency that includes a verifiable method to demonstrate compliance with such program.CommentsClose CommentsPermalink

(e) Application of GEPA- Section 439 of the General Education Provisions Act such Act (

(f) Reports by the States- Each State that receives a grant under this section shall, not later than September 30, 2012, and annually thereafter for each fiscal year in which the State expends funds received under this section, submit to the Secretary a report that includes--CommentsClose CommentsPermalink

(1) a description of the projects for which the grant was, or will be, used;CommentsClose CommentsPermalink

(2) a description of the amount and nature of the assistance provided to each community college under this section; andCommentsClose CommentsPermalink

(3) the number of jobs created by the projects funded under this section.CommentsClose CommentsPermalink

(g) Report by the Secretary- The Secretary shall submit to the authorizing committees (as defined in section 103 of the Higher Education Act of 1965;

(h) Availability of Funds-CommentsClose CommentsPermalink

(1) There are authorized to be appropriated, and there are appropriated, to carry out this section (in addition to any other amounts appropriated to carry out this section and out of any money in the Treasury not otherwise appropriated), $5,000,000,000 for fiscal year 2012.CommentsClose CommentsPermalink

(2) Funds appropriated under this subsection shall be available for obligation by community colleges only during the period that ends 36 months after the date of enactment of this Act.CommentsClose CommentsPermalink

PART III--GENERAL PROVISIONS
SEC. 230. DEFINITIONS.
(a) ESEA Terms- Except as otherwise provided, in this subtitle, the terms ‘local educational agency’, ‘Secretary’, and ‘State educational agency’ have the meanings given those terms in section 9101 of the Elementary and Secondary Education Act of 1965 (

(b) Additional Definitions- The following definitions apply to this title:CommentsClose CommentsPermalink

(1) COMMUNITY COLLEGE- The term ‘community college’ means--CommentsClose CommentsPermalink

(A) a junior or community college, as that term is defined in section 312(f) of the Higher Education Act of 1965 (

(B) a four-year public institution of higher education (as defined in section 101 of the Higher Education Act of 1965 (

(i) bachelor’s degrees (or an equivalent); orCommentsClose CommentsPermalink

(ii) master’s, professional, or other advanced degrees.CommentsClose CommentsPermalink

(2) CHPS CRITERIA- The term ‘CHPS Criteria’ means the green building rating program developed by the Collaborative for High Performance Schools.CommentsClose CommentsPermalink

(3) ENERGY STAR- The term ‘Energy Star’ means the Energy Star program of the United States Department of Energy and the United States Environmental Protection Agency.CommentsClose CommentsPermalink

(4) GREEN GLOBES- The term ‘Green Globes’ means the Green Building Initiative environmental design and rating system referred to as Green Globes.CommentsClose CommentsPermalink

(5) LEED GREEN BUILDING RATING SYSTEM- The term ‘LEED Green Building Rating System’ means the United States Green Building Council Leadership in Energy and Environmental Design green building rating standard referred to as the LEED Green Building Rating System.CommentsClose CommentsPermalink

(6) MODERNIZATION, RENOVATION, AND REPAIR- The term ‘modernization, renovation and repair’ means--CommentsClose CommentsPermalink

(A) comprehensive assessments of facilities to identify--CommentsClose CommentsPermalink

(i) facility conditions or deficiencies that could adversely affect student and staff health, safety, performance, or productivity or energy, water, or materials efficiency; andCommentsClose CommentsPermalink

(ii) needed facility improvements;CommentsClose CommentsPermalink

(B) repairing, replacing, or installing roofs (which may be extensive, intensive, or semi-intensive ‘green’ roofs); electrical wiring; water supply and plumbing systems, sewage systems, storm water runoff systems, lighting systems (or components of such systems); or building envelope, windows, ceilings, flooring, or doors, including security doors;CommentsClose CommentsPermalink

(C) repairing, replacing, or installing heating, ventilation, or air conditioning systems, or components of those systems (including insulation), including by conducting indoor air quality assessments;CommentsClose CommentsPermalink

(D) compliance with fire, health, seismic, and safety codes, including professional installation of fire and life safety alarms, and modernizations, renovations, and repairs that ensure that facilities are prepared for such emergencies as acts of terrorism, campus violence, and natural disasters, such as improving building infrastructure to accommodate security measures and installing or upgrading technology to ensure that a school or incident is able to respond to such emergencies;CommentsClose CommentsPermalink

(E) making modifications necessary to make educational facilities accessible in compliance with the Americans with Disabilities Act of 1990 (

(F) abatement, removal, or interim controls of asbestos, polychlorinated biphenyls, mold, mildew, or lead-based hazards, including lead-based paint hazards;CommentsClose CommentsPermalink

(G) retrofitting necessary to increase energy efficiency;CommentsClose CommentsPermalink

(H) measures, such as selection and substitution of products and materials, and implementation of improved maintenance and operational procedures, such as ‘green cleaning’ programs, to reduce or eliminate potential student or staff exposure to--CommentsClose CommentsPermalink

(i) volatile organic compounds;CommentsClose CommentsPermalink

(ii) particles such as dust and pollens; orCommentsClose CommentsPermalink

(iii) combustion gases;CommentsClose CommentsPermalink

(I) modernization, renovation, or repair necessary to reduce the consumption of coal, electricity, land, natural gas, oil, or water;CommentsClose CommentsPermalink

(J) installation or upgrading of educational technology infrastructure;CommentsClose CommentsPermalink

(K) installation or upgrading of renewable energy generation and heating systems, including solar, photovoltaic, wind, biomass (including wood pellet and woody biomass), waste-to-energy, solar-thermal, and geothermal systems, and energy audits;CommentsClose CommentsPermalink

(L) modernization, renovation, or repair activities related to energy efficiency and renewable energy, and improvements to building infrastructures to accommodate bicycle and pedestrian access;CommentsClose CommentsPermalink

(M) ground improvements, storm water management, landscaping and environmental clean-up when necessary;CommentsClose CommentsPermalink

(N) other modernization, renovation, or repair to--CommentsClose CommentsPermalink

(i) improve teachers’ ability to teach and students’ ability to learn;CommentsClose CommentsPermalink

(ii) ensure the health and safety of students and staff; orCommentsClose CommentsPermalink

(iii) improve classroom, laboratory, and vocational facilities in order to enhance the quality of science, technology, engineering, and mathematics instruction; andCommentsClose CommentsPermalink

(O) required environmental remediation related to facilities modernization, renovation, or repair activities described in subparagraphs (A) through (L).CommentsClose CommentsPermalink

(7) OUTLYING AREA- The term ‘outlying area’ means the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and the Republic of Palau.CommentsClose CommentsPermalink

(8) STATE- The term ‘State’ means each of the 50 States of the United States, the Commonwealth of Puerto Rico, and the District of Columbia.CommentsClose CommentsPermalink

SEC. 231. BUY AMERICAN.
Section 1605 of division A of the American Recovery and Reinvestment Act of 2009 (

Subtitle E--Immediate Transportation Infrastrucure InvestmentsCommentsClose CommentsPermalink

Subtitle E--Immediate Transportation Infrastrucure InvestmentsCommentsClose CommentsPermalink

SEC. 241. IMMEDIATE TRANSPORTATION INFRASTRUCTURE INVESTMENTS.
(a) Grants-In-Aid for Airports-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available to the Secretary of Transportation $2,000,000,000 to carry out airport improvement under subchapter I of chapter 471 and subchapter I of chapter 475 of title 49, United States Code.CommentsClose CommentsPermalink

(2) FEDERAL SHARE; LIMITATION ON OBLIGATIONS- The Federal share payable of the costs for which a grant is made under this subsection, shall be 100 percent. The amount made available under this subsection shall not be subject to any limitation on obligations for the Grants-In-Aid for Airports program set forth in any Act or in title 49, United States Code.CommentsClose CommentsPermalink

(3) DISTRIBUTION OF FUNDS- Funds provided to the Secretary under this subsection shall not be subject to apportionment formulas, special apportionment categories, or minimum percentages under chapter 471 of such title.CommentsClose CommentsPermalink

(4) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act. The Secretary shall obligate amounts totaling not less than 50 percent of the funds made available within one year of enactment and obligate remaining amounts not later than two years after enactment.CommentsClose CommentsPermalink

(5) ADMINISTRATIVE EXPENSES- Of the funds made available under this subsection, 0.3 percent shall be available to the Secretary for administrative expenses, shall remain available for obligation until September 30, 2015, and may be used in conjunction with funds otherwise provided for the administration of the Grants-In-Aid for Airports program.CommentsClose CommentsPermalink

(b) Next Generation Air Traffic Control Advancements-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available to the Secretary of Transportation $1,000,000,000 for necessary Federal Aviation Administration capital, research and operating costs to carry out Next Generation air traffic control system advancements.CommentsClose CommentsPermalink

(2) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act.CommentsClose CommentsPermalink

(c) Highway Infrastructure Investment-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available to the Secretary of Transportation $27,000,000,000 for restoration, repair, construction and other activities eligible under

(2) FEDERAL SHARE; LIMITATION ON OBLIGATIONS- The Federal share payable on account of any project or activity carried out with funds made available under this subsection shall be, at the option of the recipient, up to 100 percent of the total cost thereof. The amount made available under this subsection shall not be subject to any limitation on obligations for Federal-aid highways and highway safety construction programs set forth in any Act or in title 23, United States Code.CommentsClose CommentsPermalink

(3) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act. The Secretary shall obligate amounts totaling not less than 50 percent of the funds made available within one year of enactment and obligate remaining amounts not later than two years after enactment.CommentsClose CommentsPermalink

(4) DISTRIBUTION OF FUNDS- Of the funds provided in this subsection, after making the set-asides required by paragraphs (9), (10), (11), (12), and (15), 50 percent of the funds shall be apportioned to States using the formula set forth in

(5) APPORTIONMENT- Apportionments under paragraph (4) shall be made not later than 30 days after the date of the enactment of this Act.CommentsClose CommentsPermalink

(6) REDISTRIBUTION-CommentsClose CommentsPermalink

(A) The Secretary shall, 180 days following the date of apportionment, withdraw from each State an amount equal to 50 percent of the funds apportioned under paragraph (4) to that State (excluding funds suballocated within the State) less the amount of funding obligated (excluding funds suballocated within the State), and the Secretary shall redistribute such amounts to other States that have had no funds withdrawn under this subparagraph in the manner described in section 120(c) of division A of

(B) One year following the date of apportionment, the Secretary shall withdraw from each recipient of funds apportioned under paragraph (4) any unobligated funds, and the Secretary shall redistribute such amounts to States that have had no funds withdrawn under this paragraph (excluding funds suballocated within the State) in the manner described in section 120(c) of division A of

(C) At the request of a State, the Secretary may provide an extension of the one-year period only to the extent that the Secretary determines that the State has encountered extreme conditions that create an unworkable bidding environment or other extenuating circumstances. Before granting an extension, the Secretary notify in writing the Committee on Transportation and Infrastructure and the Committee on Environment and Public Works, providing a thorough justification for the extension.CommentsClose CommentsPermalink

(7) TRANSPORTATION ENHANCEMENTS- Three percent of the funds apportioned to a State under paragraph (4) shall be set aside for the purposes described in

(8) SUBALLOCATION- Thirty percent of the funds apportioned to a State under this subsection shall be suballocated within the State in the manner and for the purposes described in the first sentence of sections 133(d)(3)(A), 133(d)(3)(B), and 133(d)(3)(D) of title 23, United States Code. Such suballocation shall be conducted in every State. Funds suballocated within a State to urbanized areas and other areas shall not be subject to the redistribution of amounts required 180 days following the date of apportionment of funds provided by paragraph (6)(A).CommentsClose CommentsPermalink

(9) PUERTO RICO AND TERRITORIAL HIGHWAY PROGRAMS- Of the funds provided under this subsection, $105,000,000 shall be set aside for the Puerto Rico highway program authorized under

(10) FEDERAL LANDS AND INDIAN RESERVATIONS- Of the funds provided under this subsection, $550,000,000 shall be set aside for investments in transportation at Indian reservations and Federal lands in accordance with the following:CommentsClose CommentsPermalink

(A) Of the funds set aside by this paragraph, $310,000,000 shall be for the Indian Reservation Roads program, $170,000,000 shall be for the Park Roads and Parkways program, $60,000,000 shall be for the Forest Highway Program, and $10,000,000 shall be for the Refuge Roads program.CommentsClose CommentsPermalink

(B) For investments at Indian reservations and Federal lands, priority shall be given to capital investments, and to projects and activities that can be completed within 2 years of enactment of this Act.CommentsClose CommentsPermalink

(C) One year following the enactment of this Act, to ensure the prompt use of the funding provided for investments at Indian reservations and Federal lands, the Secretary shall have the authority to redistribute unobligated funds within the respective program for which the funds were appropriated.CommentsClose CommentsPermalink

(D) Up to four percent of the funding provided for Indian Reservation Roads may be used by the Secretary of the Interior for program management and oversight and project-related administrative expenses.CommentsClose CommentsPermalink

(E)

(11) JOB TRAINING- Of the funds provided under this subsection, $50,000,000 shall be set aside for the development and administration of transportation training programs under section 140(b) title 23, United States Code.CommentsClose CommentsPermalink

(A) Funds set aside under this subsection shall be competitively awarded and used for the purpose of providing training, apprenticeship (including Registered Apprenticeship), skill development, and skill improvement programs, as well as summer transportation institutes and may be transferred to, or administered in partnership with, the Secretary of Labor and shall demonstrate to the Secretary of Transportation program outcomes, including--CommentsClose CommentsPermalink

(i) impact on areas with transportation workforce shortages;CommentsClose CommentsPermalink

(ii) diversity of training participants;CommentsClose CommentsPermalink

(iii) number of participants obtaining certifications or credentials required for specific types of employment;CommentsClose CommentsPermalink

(iv) employment outcome metrics, such as job placement and job retention rates, established in consultation with the Secretary of Labor and consistent with metrics used by programs under the Workforce Investment Act;CommentsClose CommentsPermalink

(v) to the extent practical, evidence that the program did not preclude workers that participate in training or apprenticeship activities under the program from being referred to, or hired on, projects funded under this chapter; andCommentsClose CommentsPermalink

(vi) identification of areas of collaboration with the Department of Labor programs, including co-enrollment.CommentsClose CommentsPermalink

(B) To be eligible to receive a competitively awarded grant under this subsection, a State must certify that at least 0.1 percent of the amounts apportioned under the Surface Transportation Program and Bridge Program will be obligated in the first fiscal year after enactment of this Act for job training activities consistent with

(12) DISADVANTAGED BUSINESS ENTERPRISES- Of the funds provided under this subsection, $10,000,000 shall be set aside for training programs and assistance programs under

(13) STATE PLANNING AND OVERSIGHT EXPENSES- Of amounts apportioned under paragraph (4) of this subsection, a State may use up to 0.5 percent for activities related to projects funded under this subsection, including activities eligible under sections 134 and 135 of title 23, United States Code, State administration of subgrants, and State oversight of subrecipients.CommentsClose CommentsPermalink

(14) CONDITIONS-CommentsClose CommentsPermalink

(A) Funds made available under this subsection shall be administered as if apportioned under chapter 1 of title 23, United States Code, except for funds made available for investments in transportation at Indian reservations and Federal lands, and for the territorial highway program, which shall be administered in accordance with chapter 2 of title 23, United States Code, and except for funds made available for disadvantaged business enterprises bonding assistance, which shall be administered in accordance with chapter 3 of title 49, United States Code.CommentsClose CommentsPermalink

(B) Funds made available under this subsection shall not be obligated for the purposes authorized under

(C) Funding provided under this subsection shall be in addition to any and all funds provided for fiscal years 2011 and 2012 in any other Act for ‘Federal-aid Highways’ and shall not affect the distribution of funds provided for ‘Federal-aid Highways’ in any other Act.CommentsClose CommentsPermalink

(D) Section 1101(b) of

(15) OVERSIGHT- The Administrator of the Federal Highway Administration may set aside up to 0.15 percent of the funds provided under this subsection to fund the oversight by the Administrator of projects and activities carried out with funds made available to the Federal Highway Administration in this Act, and such funds shall be available through September 30, 2015.CommentsClose CommentsPermalink

(d) Capital Assistance for High-Speed Rail Corridors and Intercity Passenger Rail Service-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available to the Secretary of Transportation $4,000,000,000 for grants for high-speed rail projects as authorized under sections 26104 and 26106 of title 49, United States Code, capital investment grants to support intercity passenger rail service as authorized under

(2) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act. The Secretary shall obligate amounts totaling not less than 50 percent of the funds made available within one year of enactment and obligate remaining amounts not later than two years after enactment.CommentsClose CommentsPermalink

(3) FEDERAL SHARE- The Federal share payable of the costs for which a grant or cooperative agreements is made under this subsection shall be, at the option of the recipient, up to 100 percent.CommentsClose CommentsPermalink

(4) INTERIM GUIDANCE- The Secretary shall issue interim guidance to applicants covering application procedures and administer the grants provided under this subsection pursuant to that guidance until final regulations are issued.CommentsClose CommentsPermalink

(5) INTERCITY PASSENGER RAIL CORRIDORS- Not less than 85 percent of the funds provided under this subsection shall be for cooperative agreements that lead to the development of entire segments or phases of intercity or high-speed rail corridors.CommentsClose CommentsPermalink

(6) CONDITIONS-CommentsClose CommentsPermalink

(A) In addition to the provisions of title 49, United States Code, that apply to each of the individual programs funded under this subsection, subsections 24402(a)(2), 24402(i), and 24403 (a) and (c) of title 49, United States Code, shall also apply to the provision of funds provided under this subsection.CommentsClose CommentsPermalink

(B) A project need not be in a State rail plan developed under Chapter 227 of title 49, United States Code, to be eligible for assistance under this subsection.CommentsClose CommentsPermalink

(C) Recipients of grants under this paragraph shall conduct all procurement transactions using such grant funds in a manner that provides full and open competition, as determined by the Secretary, in compliance with existing labor agreements.CommentsClose CommentsPermalink

(e) Capital Grants to the National Railroad Passenger Corporation-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available $2,000,000,000 to enable the Secretary of Transportation to make capital grants to the National Railroad Passenger Corporation (Amtrak), as authorized by section 101(c) of the Passenger Rail Investment and Improvement Act of 2008 (

(2) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act. The Secretary shall obligate amounts totaling not less than 50 percent of the funds made available within one year of enactment and obligate remaining amounts not later than two years after enactment.CommentsClose CommentsPermalink

(3) PROJECT PRIORITY- The priority for the use of funds shall be given to projects for the repair, rehabilitation, or upgrade of railroad assets or infrastructure, and for capital projects that expand passenger rail capacity including the rehabilitation of rolling stock.CommentsClose CommentsPermalink

(4) CONDITIONS-CommentsClose CommentsPermalink

(A) None of the funds under this subsection shall be used to subsidize the operating losses of Amtrak.CommentsClose CommentsPermalink

(B) The funds provided under this subsection shall be awarded not later than 90 days after the date of enactment of this Act.CommentsClose CommentsPermalink

(C) The Secretary shall take measures to ensure that projects funded under this subsection shall be completed within 2 years of enactment of this Act, and shall serve to supplement and not supplant planned expenditures for such activities from other Federal, State, local and corporate sources. The Secretary shall certify to the House and Senate Committees on Appropriations in writing compliance with the preceding sentence.CommentsClose CommentsPermalink

(5) OVERSIGHT- The Administrator of the Federal Railroad Administration may set aside 0.5 percent of the funds provided under this subsection to fund the oversight by the Administrator of projects and activities carried out with funds made available in this subsection, and such funds shall be available through September 30, 2015.CommentsClose CommentsPermalink

(f) Transit Capital Assistance-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available to the Secretary of Transportation $3,000,000,000 for grants for transit capital assistance grants as defined by

(2) FEDERAL SHARE; LIMTATION ON OBLIGATIONS- The applicable requirements of chapter 53 of title 49, United States Code, shall apply to funding provided under this subsection, except that the Federal share of the costs for which any grant is made under this subsection shall be, at the option of the recipient, up to 100 percent. The amount made available under this subsection shall not be subject to any limitation on obligations for transit programs set forth in any Act or chapter 53 of title 49.CommentsClose CommentsPermalink

(3) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act. The Secretary shall obligate amounts totaling not less than 50 percent of the funds made available within one year of enactment and obligate remaining amounts not later than two years after enactment.CommentsClose CommentsPermalink

(4) DISTRIBUTION OF FUNDS- The Secretary of Transportation shall--CommentsClose CommentsPermalink

(A) provide 80 percent of the funds appropriated under this subsection for grants under

(B) provide 10 percent of the funds appropriated under this subsection in accordance with section 5340 of such title; andCommentsClose CommentsPermalink

(C) provide 10 percent of the funds appropriated under this subsection for grants under

(5) APPORTIONMENT- The funds apportioned under this subsection shall be apportioned not later than 21 days after the date of the enactment of this Act.CommentsClose CommentsPermalink

(6) REDISTRIBUTION-CommentsClose CommentsPermalink

(A) The Secretary shall, 180 days following the date of apportionment, withdraw from each urbanized area or State an amount equal to 50 percent of the funds apportioned to such urbanized areas or States less the amount of funding obligated, and the Secretary shall redistribute such amounts to other urbanized areas or States that have had no funds withdrawn under this proviso utilizing whatever method he deems appropriate to ensure that all funds redistributed under this proviso shall be utilized promptly.CommentsClose CommentsPermalink

(B) One year following the date of apportionment, the Secretary shall withdraw from each urbanized area or State any unobligated funds, and the Secretary shall redistribute such amounts to other urbanized areas or States that have had no funds withdrawn under this proviso utilizing whatever method the Secretary deems appropriate to ensure that all funds redistributed under this proviso shall be utilized promptly.CommentsClose CommentsPermalink

(C) At the request of an urbanized area or State, the Secretary of Transportation may provide an extension of such 1-year period if the Secretary determines that the urbanized area or State has encountered an unworkable bidding environment or other extenuating circumstances. Before granting an extension, the Secretary shall notify in writing the Committee on Transportation and Infrastructure and the Committee on Banking, Housing and Urban Affairs, providing a thorough justification for the extension.CommentsClose CommentsPermalink

(7) CONDITIONS-CommentsClose CommentsPermalink

(A) Of the funds provided for

(B) Section 1101(b) of

(C) The funds appropriated under this subsection shall not be comingled with any prior year funds.CommentsClose CommentsPermalink

(8) OVERSIGHT- Notwithstanding any other provision of law, 0.3 percent of the funds provided for grants under section 5307 and section 5340, and 0.3 percent of the funds provided for grants under section 5311, shall be available for administrative expenses and program management oversight, and such funds shall be available through September 30, 2015.CommentsClose CommentsPermalink

(g) State of Good Repair-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available to the Secretary of Transportation $6,000,000,000 for capital expenditures as authorized by sections 5309(b) (2) and (3) of title 49, United States Code.CommentsClose CommentsPermalink

(2) FEDERAL SHARE- The applicable requirements of chapter 53 of title 49, United States Code, shall apply, except that the Federal share of the costs for which a grant is made under this subsection shall be, at the option of the recipient, up to 100 percent.CommentsClose CommentsPermalink

(3) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act. The Secretary shall obligate amounts totaling not less than 50 percent of the funds made available within one year of enactment and obligate remaining amounts not later than two years after enactment.CommentsClose CommentsPermalink

(4) DISTRIBUTION OF FUNDS-CommentsClose CommentsPermalink

(A) The Secretary of Transportation shall apportion not less than 75 percent of the funds under this subsection for the modernization of fixed guideway systems, pursuant to the formula set forth in section 5336(b) title 49, United States Code, other than subsection (b)(2)(A)(ii).CommentsClose CommentsPermalink

(B) Of the funds appropriated under this subsection, not less than 25 percent shall be available for the restoration or replacement of existing public transportation assets related to bus systems, pursuant to the formula set forth in section 5336 other than subsection (b).CommentsClose CommentsPermalink

(5) APPORTIONMENT- The funds made available under this subsection shall be apportioned not later than 30 days after the date of the enactment of this Act.CommentsClose CommentsPermalink

(6) REDISTRIBUTION-CommentsClose CommentsPermalink

(A) The Secretary shall, 180 days following the date of apportionment, withdraw from each urbanized area an amount equal to 50 percent of the funds apportioned to such urbanized area less the amount of funding obligated, and the Secretary shall redistribute such amounts to other urbanized areas that have had no funds withdrawn under this paragraph utilizing whatever method the Secretary deems appropriate to ensure that all funds redistributed under this paragraph shall be utilized promptly.CommentsClose CommentsPermalink

(B) One year following the date of apportionment, the Secretary shall withdraw from each urbanized area any unobligated funds, and the Secretary shall redistribute such amounts to other urbanized areas that have had no funds withdrawn under this paragraph, utilizing whatever method the Secretary deems appropriate to ensure that all funds redistributed under this paragraph shall be utilized promptly.CommentsClose CommentsPermalink

(C) At the request of an urbanized area, the Secretary may provide an extension of the 1-year period if the Secretary finds that the urbanized area has encountered an unworkable bidding environment or other extenuating circumstances. Before granting an extension, the Secretary shall notify the Committee on Transportation and Infrastructure and the Committee on Banking, Housing, and Urban Affairs, providing a thorough justification for the extension.CommentsClose CommentsPermalink

(7) CONDITIONS-CommentsClose CommentsPermalink

(A) The provisions of section 1101(b) of

(B) The funds appropriated under this subsection shall not be commingled with any prior year funds.CommentsClose CommentsPermalink

(8) OVERSIGHT- Notwithstanding any other provision of law, 0.3 percent of the funds under this subsection shall be available for administrative expenses and program management oversight and shall remain available for obligation until September 30, 2015.CommentsClose CommentsPermalink

(h) Transportation Infrastructure Grants and Financing-CommentsClose CommentsPermalink

(1) IN GENERAL- There is made available to the Secretary of Transportation $5,000,000,000 for capital investments in surface transportation infrastructure. The Secretary shall distribute funds provided under this subsection as discretionary grants to be awarded to State and local governments or transit agencies on a competitive basis for projects that will have a significant impact on the Nation, a metropolitan area, or a region.CommentsClose CommentsPermalink

(2) FEDERAL SHARE; LIMITATION ON OBLIGATIONS- The Federal share payable of the costs for which a grant is made under this subsection, shall be 100 percent.CommentsClose CommentsPermalink

(3) AVAILABILITY- The amounts made available under this subsection shall be available for obligation until the date that is two years after the date of the enactment of this Act. The Secretary shall obligate amounts totaling not less than 50 percent of the funds made available within one year of enactment and obligate remaining amounts not later than two years after enactment.CommentsClose CommentsPermalink

(4) PROJECT ELIGIBILITY- Projects eligible for funding provided under this subsection include--CommentsClose CommentsPermalink

(A) highway or bridge projects eligible under title 23, United States Code, including interstate rehabilitation, improvements to the rural collector road system, the reconstruction of overpasses and interchanges, bridge replacements, seismic retrofit projects for bridges, and road realignments;CommentsClose CommentsPermalink

(B) public transportation projects eligible under chapter 53 of title 49, United States Code, including investments in projects participating in the New Starts or Small Starts programs that will expedite the completion of those projects and their entry into revenue service;CommentsClose CommentsPermalink

(C) passenger and freight rail transportation projects; andCommentsClose CommentsPermalink

(D) port infrastructure investments, including projects that connect ports to other modes of transportation and improve the efficiency of freight movement.CommentsClose CommentsPermalink

(5) TIFIA PROGRAM- The Secretary may transfer to the Federal Highway Administration funds made available under this subsection for the purpose of paying the subsidy and administrative costs of projects eligible for federal credit assistance under chapter 6 of title 23, United States Code, if the Secretary finds that such use of the funds would advance the purposes of this subsection.CommentsClose CommentsPermalink

(6) PROJECT PRIORITY- The Secretary shall give priority to projects that are expected to be completed within 3 years of the date of the enactment of this Act.CommentsClose CommentsPermalink

(7) DEADLINE FOR ISSUANCE OF COMPETITION CRITERIA- The Secretary shall publish criteria on which to base the competition for any grants awarded under this subsection not later than 90 days after enactment of this Act. The Secretary shall require applications for funding provided under this subsection to be submitted not later than 180 days after the publication of the criteria, and announce all projects selected to be funded from such funds not later than 1 year after the date of the enactment of the Act.CommentsClose CommentsPermalink

(8) APPLICABILITY OF TITLE 40- Each project conducted using funds provided under this subsection shall comply with the requirements of subchapter IV of chapter 31 of title 40, United States Code.CommentsClose CommentsPermalink

(9) ADMINISTRATIVE EXPENSES- The Secretary may retain up to one-half of one percent of the funds provided under this subsection, and may transfer portions of those funds to the Administrators of the Federal Highway Administration, the Federal Transit Administration, the Federal Railroad Administration and the Maritime Administration, to fund the award and oversight of grants made under this subsection. Funds retained shall remain available for obligation until September 30, 2015.CommentsClose CommentsPermalink

(i) Local Hiring-CommentsClose CommentsPermalink

(1) IN GENERAL- In the case of the funding made available under subsections (a) through (h) of this section, the Secretary of Transportation may establish standards under which a contract for construction may be advertised that contains requirements for the employment of individuals residing in or adjacent to any of the areas in which the work is to be performed to perform construction work required under the contract, provided that--CommentsClose CommentsPermalink

(A) all or part of the construction work performed under the contract occurs in an area designated by the Secretary as an area of high unemployment, using data reported by the United States Department of Labor, Bureau of Labor Statistics;CommentsClose CommentsPermalink

(B) the estimated cost of the project of which the contract is a part is greater than $10 million, except that the estimated cost of the project in the case of construction funded under subsection (c) shall be greater than $50 million; andCommentsClose CommentsPermalink

(C) the recipient may not require the hiring of individuals who do not have the necessary skills to perform work in any craft or trade; provided that the recipient may require the hiring of such individuals if the recipient establishes reasonable provisions to train such individuals to perform any such work under the contract effectively.CommentsClose CommentsPermalink

(2) PROJECT STANDARDS-CommentsClose CommentsPermalink

(A) IN GENERAL- Any standards established by the Secretary under this section shall ensure that any requirements specified under subsection (c)(1)--CommentsClose CommentsPermalink

(i) do not compromise the quality of the project;CommentsClose CommentsPermalink

(ii) are reasonable in scope and application;CommentsClose CommentsPermalink

(iii) do not unreasonably delay the completion of the project; andCommentsClose CommentsPermalink

(iv) do not unreasonably increase the cost of the project.CommentsClose CommentsPermalink

(B) AVAILABLE PROGRAMS- The Secretary shall make available to recipients the workforce development and training programs set forth in section 24604(e)(1)(D) of this title to assist recipients who wish to establish training programs that satisfy the provisions of subsection (c)(1)(C). The Secretary of Labor shall make available its qualifying workforce and training development programs to recipients who wish to establish training programs that satisfy the provisions of subsection (c)(1)(C).CommentsClose CommentsPermalink

(3) IMPLEMENTING REGULATIONS- The Secretary shall promulgate final regulations to implement the authority of this subsection.CommentsClose CommentsPermalink

(j) Administrative Provisions-CommentsClose CommentsPermalink

(1) APPLICABILITY OF TITLE 40- Each project conducted using funds provided under this subtitle shall comply with the requirements of subchapter IV of chapter 31 of title 40, United States Code.CommentsClose CommentsPermalink

(2) BUY AMERICAN- Section 1605 of division A of the American Recovery and Reinvestment Act of 2009 (

Subtitle F--Building and Upgrading Infrastructure for Long-Term DevelopmentCommentsClose CommentsPermalink

Subtitle F--Building and Upgrading Infrastructure for Long-Term DevelopmentCommentsClose CommentsPermalink

SEC. 242. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title- This subtitle may be cited as the ‘Building and Upgrading Infrastructure for Long-Term Development Act’.CommentsClose CommentsPermalink

SEC. 243. FINDINGS AND PURPOSE.
(a) Findings- Congress finds that--CommentsClose CommentsPermalink

(1) infrastructure has always been a vital element of the economic strength of the United States and a key indicator of the international leadership of the United States;CommentsClose CommentsPermalink

(2) the Erie Canal, the Hoover Dam, the railroads, and the interstate highway system are all testaments to American ingenuity and have helped propel and maintain the United States as the world’s largest economy;CommentsClose CommentsPermalink

(3) according to the World Economic Forum’s Global Competitiveness Report, the United States fell to second place in 2009, and dropped to fourth place overall in 2010, however, in the ‘Quality of overall infrastructure’ category of the same report, the United States ranked twenty-third in the world;CommentsClose CommentsPermalink

(4) according to the World Bank’s 2010 Logistic Performance Index, the capacity of countries to efficiently move goods and connect manufacturers and consumers with international markets is improving around the world, and the United States now ranks seventh in the world in logistics-related infrastructure behind countries from both Europe and Asia;CommentsClose CommentsPermalink

(5) according to a January 2009 report from the University of Massachusetts/Alliance for American Manufacturing entitled ‘Employment, Productivity and Growth,’ infrastructure investment is a ‘highly effective engine of job creation’;CommentsClose CommentsPermalink

(6) according to the American Society of Civil Engineers, the current condition of the infrastructure in the United States earns a grade point average of D, and an estimated $2,200,000,000,000 investment is needed over the next 5 years to bring American infrastructure up to adequate condition;CommentsClose CommentsPermalink

(7) according to the National Surface Transportation Policy and Revenue Study Commission, $225,000,000,000 is needed annually from all sources for the next 50 years to upgrade the United States surface transportation system to a state of good repair and create a more advanced system;CommentsClose CommentsPermalink

(8) the current infrastructure financing mechanisms of the United States, both on the Federal and State level, will fail to meet current and foreseeable demands and will create large funding gaps;CommentsClose CommentsPermalink

(9) published reports state that there may not be enough demand for municipal bonds to maintain the same level of borrowing at the same rates, resulting in significantly decreased infrastructure investment at the State and local level;CommentsClose CommentsPermalink

(10) current funding mechanisms are not readily scalable and do not--CommentsClose CommentsPermalink

(A) serve large in-State or cross jurisdiction infrastructure projects, projects of regional or national significance, or projects that cross sector silos;CommentsClose CommentsPermalink

(B) sufficiently catalyze private sector investment; orCommentsClose CommentsPermalink

(C) ensure the optimal return on public resources;CommentsClose CommentsPermalink

(11) although grant programs of the United States Government must continue to play a central role in financing the transportation, environment, and energy infrastructure needs of the United States, current and foreseeable demands on existing Federal, State, and local funding for infrastructure expansion clearly exceed the resources to support these programs by margins wide enough to prompt serious concerns about the United States ability to sustain long-term economic development, productivity, and international competitiveness;CommentsClose CommentsPermalink

(12) the capital markets, including pension funds, private equity funds, mutual funds, sovereign wealth funds, and other investors, have a growing interest in infrastructure investment and represent hundreds of billions of dollars of potential investment; andCommentsClose CommentsPermalink

(13) the establishment of a United States Government-owned, independent, professionally managed institution that could provide credit support to qualified infrastructure projects of regional and national significance, making transparent merit-based investment decisions based on the commercial viability of infrastructure projects, would catalyze the participation of significant private investment capital.CommentsClose CommentsPermalink

(b) Purpose- The purpose of this Act is to facilitate investment in, and long-term financing of, economically viable infrastructure projects of regional or national significance in a manner that both complements existing Federal, State, local, and private funding sources for these projects and introduces a merit-based system for financing such projects, in order to mobilize significant private sector investment, create jobs, and ensure United States competitiveness through an institution that limits the need for ongoing Federal funding.CommentsClose CommentsPermalink

SEC. 244. DEFINITIONS.
For purposes of this Act, the following definitions shall apply:CommentsClose CommentsPermalink

(1) AIFA- The term ‘AIFA’ means the American Infrastructure Financing Authority established under this Act.CommentsClose CommentsPermalink

(2) BLIND TRUST- The term ‘blind trust’ means a trust in which the beneficiary has no knowledge of the specific holdings and no rights over how those holdings are managed by the fiduciary of the trust prior to the dissolution of the trust.CommentsClose CommentsPermalink

(3) BOARD OF DIRECTORS- The term ‘Board of Directors’ means Board of Directors of AIFA.CommentsClose CommentsPermalink

(4) CHAIRPERSON- The term ‘Chairperson’ means the Chairperson of the Board of Directors of AIFA.CommentsClose CommentsPermalink

(5) CHIEF EXECUTIVE OFFICER- The term ‘chief executive officer’ means the chief executive officer of AIFA, appointed under section 247.CommentsClose CommentsPermalink

(6) COST- The term ‘cost’ has the same meaning as in section 502 of the Federal Credit Reform Act of 1990 (

(7) DIRECT LOAN- The term ‘direct loan’ has the same meaning as in section 502 of the Federal Credit Reform Act of 1990 (

(8) ELIGIBLE ENTITY- The term ‘eligible entity’ means an individual, corporation, partnership (including a public-private partnership), joint venture, trust, State, or other non-Federal governmental entity, including a political subdivision or any other instrumentality of a State, or a revolving fund.CommentsClose CommentsPermalink

(9) INFRASTRUCTURE PROJECT-CommentsClose CommentsPermalink

(A) IN GENERAL- The term ‘eligible infrastructure project’ means any non-Federal transportation, water, or energy infrastructure project, or an aggregation of such infrastructure projects, as provided in this Act.CommentsClose CommentsPermalink

(B) TRANSPORTATION INFRASTRUCTURE PROJECT- The term ‘transportation infrastructure project’ means the construction, alteration, or repair, including the facilitation of intermodal transit, of the following subsectors:CommentsClose CommentsPermalink

(i) Highway or road.CommentsClose CommentsPermalink

(ii) Bridge.CommentsClose CommentsPermalink

(iii) Mass transit.CommentsClose CommentsPermalink

(iv) Inland waterways.CommentsClose CommentsPermalink

(v) Commercial ports.CommentsClose CommentsPermalink

(vi) Airports.CommentsClose CommentsPermalink

(vii) Air traffic control systems.CommentsClose CommentsPermalink

(viii) Passenger rail, including high-speed rail.CommentsClose CommentsPermalink

(ix) Freight rail systems.CommentsClose CommentsPermalink

(C) WATER INFRASTRUCTURE PROJECT- The term ‘water infrastructure project’ means the construction, consolidation, alteration, or repair of the following subsectors:CommentsClose CommentsPermalink

(i) Waterwaste treatment facility.CommentsClose CommentsPermalink

(ii) Storm water management system.CommentsClose CommentsPermalink

(iii) Dam.CommentsClose CommentsPermalink

(iv) Solid waste disposal facility.CommentsClose CommentsPermalink

(v) Drinking water treatment facility.CommentsClose CommentsPermalink

(vi) Levee.CommentsClose CommentsPermalink

(vii) Open space management system.CommentsClose CommentsPermalink

(D) ENERGY INFRASTRUCTURE PROJECT- The term ‘energy infrastructure project’ means the construction, alteration, or repair of the following subsectors:CommentsClose CommentsPermalink

(i) Pollution reduced energy generation.CommentsClose CommentsPermalink

(ii) Transmission and distribution.CommentsClose CommentsPermalink

(iii) Storage.CommentsClose CommentsPermalink

(iv) Energy efficiency enhancements for buildings, including public and commercial buildings.CommentsClose CommentsPermalink

(E) BOARD AUTHORITY TO MODIFY SUBSECTORS- The Board of Directors may make modifications, at the discretion of the Board, to the subsectors described in this paragraph by a vote of not fewer than 5 of the voting members of the Board of Directors.CommentsClose CommentsPermalink

(10) INVESTMENT PROSPECTUS-CommentsClose CommentsPermalink

(A) The term ‘investment prospectus’ means the processes and publications described below that will guide the priorities and strategic focus for the Bank’s investments. The investment prospectus shall follow rulemaking procedures under

(B) The Bank shall publish a detailed description of its strategy in an Investment Prospectus within one year of the enactment of this subchapter. The Investment Prospectus shall--CommentsClose CommentsPermalink

(i) specify what the Bank shall consider significant to the economic competitiveness of the United States or a region thereof in a manner consistent with the primary objective;CommentsClose CommentsPermalink

(ii) specify the priorities and strategic focus of the Bank in forwarding its strategic objectives and carrying out the Bank strategy;CommentsClose CommentsPermalink

(iii) specify the priorities and strategic focus of the Bank in promoting greater efficiency in the movement of freight;CommentsClose CommentsPermalink

(iv) specify the priorities and strategic focus of the Bank in promoting the use of innovation and best practices in the planning, design, development and delivery of projects;CommentsClose CommentsPermalink

(v) describe in detail the framework and methodology for calculating application qualification scores and associated ranges as specified in this subchapter, along with the data to be requested from applicants and the mechanics of calculations to be applied to that data to determine qualification scores and ranges;CommentsClose CommentsPermalink

(vi) describe how selection criteria will be applied by the Chief Executive Officer in determining the competitiveness of an application and its qualification score and range relative to other current applications and previously funded applications; andCommentsClose CommentsPermalink

(vii) describe how the qualification score and range methodology and project selection framework are consistent with maximizing the Bank goals in both urban and rural areas.CommentsClose CommentsPermalink

(C) The Investment Prospectus and any subsequent updates thereto shall be approved by a majority vote of the Board of Directors prior to publication.CommentsClose CommentsPermalink

(D) The Bank shall update the Investment Prospectus on every biennial anniversary of its original publication.CommentsClose CommentsPermalink

(11) INVESTMENT-GRADE RATING- The term ‘investment-grade rating’ means a rating of BBB minus, Baa3, or higher assigned to an infrastructure project by a ratings agency.CommentsClose CommentsPermalink

(12) LOAN GUARANTEE- The term ‘loan guarantee’ has the same meaning as in section 502 of the Federal Credit Reform Act of 1990 (

(13) PUBLIC-PRIVATE PARTNERSHIP- The term ‘public-private partnership’ means any eligible entity--CommentsClose CommentsPermalink

(A)(i) which is undertaking the development of all or part of an infrastructure project that will have a public benefit, pursuant to requirements established in one or more contracts between the entity and a State or an instrumentality of a State; orCommentsClose CommentsPermalink

(ii) the activities of which, with respect to such an infrastructure project, are subject to regulation by a State or any instrumentality of a State;CommentsClose CommentsPermalink

(B) which owns, leases, or operates or will own, lease, or operate, the project in whole or in part; andCommentsClose CommentsPermalink

(C) the participants in which include not fewer than 1 nongovernmental entity with significant investment and some control over the project or project vehicle.CommentsClose CommentsPermalink

(14) RURAL INFRASTRUCTURE PROJECT- The term ‘rural infrastructure project’ means an infrastructure project in a rural area, as that term is defined in section 343(a)(13)(A) of the Consolidated Farm and Rural Development Act (

(15) SECRETARY- Unless the context otherwise requires, the term ‘Secretary’ means the Secretary of the Treasury or the designee thereof.CommentsClose CommentsPermalink

(16) SENIOR MANAGEMENT- The term ‘senior management’ means the chief financial officer, chief risk officer, chief compliance officer, general counsel, chief lending officer, and chief operations officer of AIFA established under section 249, and such other officers as the Board of Directors may, by majority vote, add to senior management.CommentsClose CommentsPermalink

(17) STATE- The term ‘State’ includes the District of Columbia, Puerto Rico, Guam, American Samoa, the Virgin Islands, the Commonwealth of Northern Mariana Islands, and any other territory of the United States.CommentsClose CommentsPermalink

PART I--AMERICAN INFRASTRUCTURE FINANCING AUTHORITY
SEC. 245. ESTABLISHMENT AND GENERAL AUTHORITY OF AIFA.
(a) Establishment of AIFA- The American Infrastructure Financing Authority is established as a wholly owned Government corporation.CommentsClose CommentsPermalink

(b) General Authority of AIFA- AIFA shall provide direct loans and loan guarantees to facilitate infrastructure projects that are both economically viable and of regional or national significance, and shall have such other authority, as provided in this Act.CommentsClose CommentsPermalink

(c) Incorporation-CommentsClose CommentsPermalink

(1) IN GENERAL- The Board of Directors first appointed shall be deemed the incorporator of AIFA, and the incorporation shall be held to have been effected from the date of the first meeting of the Board of Directors.CommentsClose CommentsPermalink

(2) CORPORATE OFFICE- AIFA shall--CommentsClose CommentsPermalink

(A) maintain an office in Washington, DC; andCommentsClose CommentsPermalink

(B) for purposes of venue in civil actions, be considered to be a resident of Washington, DC.CommentsClose CommentsPermalink

(d) Responsibility of the Secretary- The Secretary shall take such action as may be necessary to assist in implementing AIFA, and in carrying out the purpose of this Act.CommentsClose CommentsPermalink

(e) Rule of Construction- Chapter 91 of title 31, United States Code, does not apply to AIFA, unless otherwise specifically provided in this Act.CommentsClose CommentsPermalink

SEC. 246. VOTING MEMBERS OF THE BOARD OF DIRECTORS.
(a) Voting Membership of the Board of Directors-CommentsClose CommentsPermalink

(1) IN GENERAL- AIFA shall have a Board of Directors consisting of 7 voting members appointed by the President, by and with the advice and consent of the Senate, not more than 4 of whom shall be from the same political party.CommentsClose CommentsPermalink

(2) CHAIRPERSON- One of the voting members of the Board of Directors shall be designated by the President to serve as Chairperson thereof.CommentsClose CommentsPermalink

(3) CONGRESSIONAL RECOMMENDATIONS- Not later than 30 days after the date of enactment of this Act, the majority leader of the Senate, the minority leader of the Senate, the Speaker of the House of Representatives, and the minority leader of the House of Representatives shall each submit a recommendation to the President for appointment of a member of the Board of Directors, after consultation with the appropriate committees of Congress.CommentsClose CommentsPermalink

(b) Voting Rights- Each voting member of the Board of Directors shall have an equal vote in all decisions of the Board of Directors.CommentsClose CommentsPermalink

(c) Qualifications of Voting Members- Each voting member of the Board of Directors shall--CommentsClose CommentsPermalink

(1) be a citizen of the United States; andCommentsClose CommentsPermalink

(2) have significant demonstrated expertise in--CommentsClose CommentsPermalink

(A) the management and administration of a financial institution relevant to the operation of AIFA; or a public financial agency or authority; orCommentsClose CommentsPermalink

(B) the financing, development, or operation of infrastructure projects; orCommentsClose CommentsPermalink

(C) analyzing the economic benefits of infrastructure investment.CommentsClose CommentsPermalink

(d) Terms-CommentsClose CommentsPermalink

(1) IN GENERAL- Except as otherwise provided in this Act, each voting member of the Board of Directors shall be appointed for a term of 4 years.CommentsClose CommentsPermalink

(2) INITIAL STAGGERED TERMS- Of the voting members first appointed to the Board of Directors--CommentsClose CommentsPermalink

(A) the initial Chairperson and 3 of the other voting members shall each be appointed for a term of 4 years; andCommentsClose CommentsPermalink

(B) the remaining 3 voting members shall each be appointed for a term of 2 years.CommentsClose CommentsPermalink

(3) DATE OF INITIAL NOMINATIONS- The initial nominations for the appointment of all voting members of the Board of Directors shall be made not later than 60 days after the date of enactment of this Act.CommentsClose CommentsPermalink

(4) BEGINNING OF TERM- The term of each of the initial voting members appointed under this section shall commence immediately upon the date of appointment, except that, for purposes of calculating the term limits specified in this subsection, the initial terms shall each be construed as beginning on January 22 of the year following the date of the initial appointment.CommentsClose CommentsPermalink

(5) VACANCIES- A vacancy in the position of a voting member of the Board of Directors shall be filled by the President, and a member appointed to fill a vacancy on the Board of Directors occurring before the expiration of the term for which the predecessor was appointed shall be appointed only for the remainder of that term.CommentsClose CommentsPermalink

(e) Meetings-CommentsClose CommentsPermalink

(1) OPEN TO THE PUBLIC; NOTICE- Except as provided in paragraph (3), all meetings of the Board of Directors shall be--CommentsClose CommentsPermalink

(A) open to the public; andCommentsClose CommentsPermalink

(B) preceded by reasonable public notice.CommentsClose CommentsPermalink

(2) FREQUENCY- The Board of Directors shall meet not later than 60 days after the date on which all members of the Board of Directors are first appointed, at least quarterly thereafter, and otherwise at the call of either the Chairperson or 5 voting members of the Board of Directors.CommentsClose CommentsPermalink

(3) EXCEPTION FOR CLOSED MEETINGS- The voting members of the Board of Directors may, by majority vote, close a meeting to the public if, during the meeting to be closed, there is likely to be disclosed proprietary or sensitive information regarding an infrastructure project under consideration for assistance under this Act. The Board of Directors shall prepare minutes of any meeting that is closed to the public, and shall make such minutes available as soon as practicable, not later than 1 year after the date of the closed meeting, with any necessary redactions to protect any proprietary or sensitive information.CommentsClose CommentsPermalink

(4) QUORUM- For purposes of meetings of the Board of Directors, 5 voting members of the Board of Directors shall constitute a quorum.CommentsClose CommentsPermalink

(f) Compensation of Members- Each voting member of the Board of Directors shall be compensated at a rate equal to the daily equivalent of the annual rate of basic pay prescribed for level III of the Executive Schedule under

(g) Conflicts of Interest- A voting member of the Board of Directors may not participate in any review or decision affecting an infrastructure project under consideration for assistance under this Act, if the member has or is affiliated with an entity who has a financial interest in such project.CommentsClose CommentsPermalink

SEC. 247. CHIEF EXECUTIVE OFFICER OF AIFA.
(a) In General- The chief executive officer of AIFA shall be a nonvoting member of the Board of Directors, who shall be responsible for all activities of AIFA, and shall support the Board of Directors as set forth in this Act and as the Board of Directors deems necessary or appropriate.CommentsClose CommentsPermalink

(b) Appointment and Tenure of the Chief Executive Officer-CommentsClose CommentsPermalink

(1) IN GENERAL- The President shall appoint the chief executive officer, by and with the advice and consent of the Senate.CommentsClose CommentsPermalink

(2) TERM- The chief executive officer shall be appointed for a term of 6 years.CommentsClose CommentsPermalink

(3) VACANCIES- Any vacancy in the office of the chief executive officer shall be filled by the President, and the person appointed to fill a vacancy in that position occurring before the expiration of the term for which the predecessor was appointed shall be appointed only for the remainder of that term.CommentsClose CommentsPermalink

(c) Qualifications- The chief executive officer--CommentsClose CommentsPermalink

(1) shall have significant expertise in management and administration of a financial institution, or significant expertise in the financing and development of infrastructure projects, or significant expertise in analyzing the economic benefits of infrastructure investment; andCommentsClose CommentsPermalink

(2) may not--CommentsClose CommentsPermalink

(A) hold any other public office;CommentsClose CommentsPermalink

(B) have any financial interest in an infrastructure project then being considered by the Board of Directors, unless that interest is placed in a blind trust; orCommentsClose CommentsPermalink

(C) have any financial interest in an investment institution or its affiliates or any other entity seeking or likely to seek financial assistance for any infrastructure project from AIFA, unless any such interest is placed in a blind trust for the tenure of the service of the chief executive officer plus 2 additional years.CommentsClose CommentsPermalink

(d) Responsibilities- The chief executive officer shall have such executive functions, powers, and duties as may be prescribed by this Act, the bylaws of AIFA, or the Board of Directors, including--CommentsClose CommentsPermalink

(1) responsibility for the development and implementation of the strategy of AIFA, including--CommentsClose CommentsPermalink

(A) the development and submission to the Board of Directors of the investment prospectus, the annual business plans and budget;CommentsClose CommentsPermalink

(B) the development and submission to the Board of Directors of a long-term strategic plan; andCommentsClose CommentsPermalink

(C) the development, revision, and submission to the Board of Directors of internal policies; andCommentsClose CommentsPermalink

(2) responsibility for the management and oversight of the daily activities, decisions, operations, and personnel of AIFA, including--CommentsClose CommentsPermalink

(A) the appointment of senior management, subject to approval by the voting members of the Board of Directors, and the hiring and termination of all other AIFA personnel;CommentsClose CommentsPermalink

(B) requesting the detail, on a reimbursable basis, of personnel from any Federal agency having specific expertise not available from within AIFA, following which request the head of the Federal agency may detail, on a reimbursable basis, any personnel of such agency reasonably requested by the chief executive officer;CommentsClose CommentsPermalink

(C) assessing and recommending in the first instance, for ultimate approval or disapproval by the Board of Directors, compensation and adjustments to compensation of senior management and other personnel of AIFA as may be necessary for carrying out the functions of AIFA;CommentsClose CommentsPermalink

(D) ensuring, in conjunction with the general counsel of AIFA, that all activities of AIFA are carried out in compliance with applicable law;CommentsClose CommentsPermalink

(E) overseeing the involvement of AIFA in all projects, including--CommentsClose CommentsPermalink

(i) developing eligible projects for AIFA financial assistance;CommentsClose CommentsPermalink

(ii) determining the terms and conditions of all financial assistance packages;CommentsClose CommentsPermalink

(iii) monitoring all infrastructure projects assisted by AIFA, including responsibility for ensuring that the proceeds of any loan made, guaranteed, or participated in are used only for the purposes for which the loan or guarantee was made;CommentsClose CommentsPermalink

(iv) preparing and submitting for approval by the Board of Directors the documents required under paragraph (1); andCommentsClose CommentsPermalink

(v) ensuring the implementation of decisions of the Board of Directors; andCommentsClose CommentsPermalink

(F) such other activities as may be necessary or appropriate in carrying out this Act.CommentsClose CommentsPermalink

(e) Compensation-CommentsClose CommentsPermalink

(1) IN GENERAL- Any compensation assessment or recommendation by the chief executive officer under this section shall be without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5, United States Code.CommentsClose CommentsPermalink

(2) CONSIDERATIONS- The compensation assessment or recommendation required under this subsection shall take into account merit principles, where applicable, as well as the education, experience, level of responsibility, geographic differences, and retention and recruitment needs in determining compensation of personnel.CommentsClose CommentsPermalink

SEC. 248. POWERS AND DUTIES OF THE BOARD OF DIRECTORS.
The Board of Directors shall--CommentsClose CommentsPermalink

(1) as soon as is practicable after the date on which all members are appointed, approve or disapprove senior management appointed by the chief executive officer;CommentsClose CommentsPermalink

(2) not later than 180 days after the date on which all members are appointed--CommentsClose CommentsPermalink

(A) develop and approve the bylaws of AIFA, including bylaws for the regulation of the affairs and conduct of the business of AIFA, consistent with the purpose, goals, objectives, and policies set forth in this Act;CommentsClose CommentsPermalink

(B) establish subcommittees, including an audit committee that is composed solely of members of the Board of Directors who are independent of the senior management of AIFA;CommentsClose CommentsPermalink

(C) develop and approve, in consultation with senior management, a conflict-of-interest policy for the Board of Directors and for senior management;CommentsClose CommentsPermalink

(D) approve or disapprove internal policies that the chief executive officer shall submit to the Board of Directors, including--CommentsClose CommentsPermalink

(i) policies regarding the loan application and approval process, including--CommentsClose CommentsPermalink

(I) disclosure and application procedures to be followed by entities in the course of nominating infrastructure projects for assistance under this Act;CommentsClose CommentsPermalink

(II) guidelines for the selection and approval of projects;CommentsClose CommentsPermalink

(III) specific criteria for determining eligibility for project selection, consistent with title II; andCommentsClose CommentsPermalink

(IV) standardized terms and conditions, fee schedules, or legal requirements of a contract or program, so as to carry out this Act; andCommentsClose CommentsPermalink

(ii) operational guidelines; andCommentsClose CommentsPermalink

(E) approve or disapprove a multi-year or 1-year business plan and budget for AIFA;CommentsClose CommentsPermalink

(3) ensure that AIFA is at all times operated in a manner that is consistent with this Act, by--CommentsClose CommentsPermalink

(A) monitoring and assessing the effectiveness of AIFA in achieving its strategic goals;CommentsClose CommentsPermalink

(B) periodically reviewing internal policies;CommentsClose CommentsPermalink

(C) reviewing and approving annual business plans, annual budgets, and long-term strategies submitted by the chief executive officer;CommentsClose CommentsPermalink

(D) reviewing and approving annual reports submitted by the chief executive officer;CommentsClose CommentsPermalink

(E) engaging one or more external auditors, as set forth in this Act; andCommentsClose CommentsPermalink

(F) reviewing and approving all changes to the organization of senior management;CommentsClose CommentsPermalink

(4) appoint and fix, by a vote of 5 of the 7 voting members of the Board of Directors, and without regard to the provisions of chapter 51 or subchapter III of chapter 53 of title 5, United States Code, the compensation and adjustments to compensation of all AIFA personnel, provided that in appointing and fixing any compensation or adjustments to compensation under this paragraph, the Board shall--CommentsClose CommentsPermalink

(A) consult with, and seek to maintain comparability with, other comparable Federal personnel;CommentsClose CommentsPermalink

(B) consult with the Office of Personnel Management; andCommentsClose CommentsPermalink

(C) carry out such duties consistent with merit principles, where applicable, as well as the education, experience, level of responsibility, geographic differences, and retention and recruitment needs in determining compensation of personnel;CommentsClose CommentsPermalink

(5) establish such other criteria, requirements, or procedures as the Board of Directors may consider to be appropriate in carrying out this Act;CommentsClose CommentsPermalink

(6) serve as the primary liaison for AIFA in interactions with Congress, the Executive Branch, and State and local governments, and to represent the interests of AIFA in such interactions and others;CommentsClose CommentsPermalink

(7) approve by a vote of 5 of the 7 voting members of the Board of Directors any changes to the bylaws or internal policies of AIFA;CommentsClose CommentsPermalink

(8) have the authority and responsibility--CommentsClose CommentsPermalink

(A) to oversee entering into and carry out such contracts, leases, cooperative agreements, or other transactions as are necessary to carry out this Act with--CommentsClose CommentsPermalink

(i) any Federal department or agency;CommentsClose CommentsPermalink

(ii) any State, territory, or possession (or any political subdivision thereof, including State infrastructure banks) of the United States; andCommentsClose CommentsPermalink

(iii) any individual, public-private partnership, firm, association, or corporation;CommentsClose CommentsPermalink

(B) to approve of the acquisition, lease, pledge, exchange, and disposal of real and personal property by AIFA and otherwise approve the exercise by AIFA of all of the usual incidents of ownership of property, to the extent that the exercise of such powers is appropriate to and consistent with the purposes of AIFA;CommentsClose CommentsPermalink

(C) to determine the character of, and the necessity for, the obligations and expenditures of AIFA, and the manner in which the obligations and expenditures will be incurred, allowed, and paid, subject to this Act and other Federal law specifically applicable to wholly owned Federal corporations;CommentsClose CommentsPermalink

(D) to execute, in accordance with applicable bylaws and regulations, appropriate instruments;CommentsClose CommentsPermalink

(E) to approve other forms of credit enhancement that AIFA may provide to eligible projects, as long as the forms of credit enhancements are consistent with the purposes of this Act and terms set forth in title II;CommentsClose CommentsPermalink

(F) to exercise all other lawful powers which are necessary or appropriate to carry out, and are consistent with, the purposes of AIFA;CommentsClose CommentsPermalink

(G) to sue or be sued in the corporate capacity of AIFA in any court of competent jurisdiction;CommentsClose CommentsPermalink

(H) to indemnify the members of the Board of Directors and officers of AIFA for any liabilities arising out of the actions of the members and officers in such capacity, in accordance with, and subject to the limitations contained in this Act;CommentsClose CommentsPermalink

(I) to review all financial assistance packages to all eligible infrastructure projects, as submitted by the chief executive officer and to approve, postpone, or deny the same by majority vote;CommentsClose CommentsPermalink

(J) to review all restructuring proposals submitted by the chief executive officer, including assignation, pledging, or disposal of the interest of AIFA in a project, including payment or income from any interest owned or held by AIFA, and to approve, postpone, or deny the same by majority vote; andCommentsClose CommentsPermalink

(K) to enter into binding commitments, as specified in approved financial assistance packages;CommentsClose CommentsPermalink

(9) delegate to the chief executive officer those duties that the Board of Directors deems appropriate, to better carry out the powers and purposes of the Board of Directors under this section; andCommentsClose CommentsPermalink

(10) to approve a maximum aggregate amount of outstanding obligations of AIFA at any given time, taking into consideration funding, and the size of AIFA’s addressable market for infrastructure projects.CommentsClose CommentsPermalink

SEC. 249. SENIOR MANAGEMENT.
(a) In General- Senior management shall support the chief executive officer in the discharge of the responsibilities of the chief executive officer.CommentsClose CommentsPermalink

(b) Appointment of Senior Management- The chief executive officer shall appoint such senior managers as are necessary to carry out the purpose of AIFA, as approved by a majority vote of the voting members of the Board of Directors.CommentsClose CommentsPermalink

(c) Term- Each member of senior management shall serve at the pleasure of the chief executive officer and the Board of Directors.CommentsClose CommentsPermalink

(d) Removal of Senior Management- Any member of senior management may be removed, either by a majority of the voting members of the Board of Directors upon request by the chief executive officer, or otherwise by vote of not fewer than 5 voting members of the Board of Directors.CommentsClose CommentsPermalink

(e) Senior Management-CommentsClose CommentsPermalink

(1) IN GENERAL- Each member of senior management shall report directly to the chief executive officer, other than the Chief Risk Officer, who shall report directly to the Board of Directors.CommentsClose CommentsPermalink

(2) DUTIES AND RESPONSIBILITIES-CommentsClose CommentsPermalink

(A) CHIEF FINANCIAL OFFICER- The Chief Financial Officer shall be responsible for all financial functions of AIFA, provided that, at the discretion of the Board of Directors, specific functions of the Chief Financial Officer may be delegated externally.CommentsClose CommentsPermalink

(B) CHIEF RISK OFFICER- The Chief Risk Officer shall be responsible for all functions of AIFA relating to--CommentsClose CommentsPermalink

(i) the creation of financial, credit, and operational risk management guidelines and policies;CommentsClose CommentsPermalink

(ii) credit analysis for infrastructure projects;CommentsClose CommentsPermalink

(iii) the creation of conforming standards for infrastructure finance agreements;CommentsClose CommentsPermalink

(iv) the monitoring of the financial, credit, and operational exposure of AIFA; andCommentsClose CommentsPermalink

(v) risk management and mitigation actions, including by reporting such actions, or recommendations of such actions to be taken, directly to the Board of Directors.CommentsClose CommentsPermalink

(C) CHIEF COMPLIANCE OFFICER- The Chief Compliance Officer shall be responsible for all functions of AIFA relating to internal audits, accounting safeguards, and the enforcement of such safeguards and other applicable requirements.CommentsClose CommentsPermalink

(D) GENERAL COUNSEL- The General Counsel shall be responsible for all functions of AIFA relating to legal matters and, in consultation with the chief executive officer, shall be responsible for ensuring that AIFA complies with all applicable law.CommentsClose CommentsPermalink

(E) CHIEF OPERATIONS OFFICER- The Chief Operations Officer shall be responsible for all operational functions of AIFA, including those relating to the continuing operations and performance of all infrastructure projects in which AIFA retains an interest and for all AIFA functions related to human resources.CommentsClose CommentsPermalink

(F) CHIEF LENDING OFFICER- The Chief Lending Officer shall be responsible for--CommentsClose CommentsPermalink

(i) all functions of AIFA relating to the development of project pipeline, financial structuring of projects, selection of infrastructure projects to be reviewed by the Board of Directors, preparation of infrastructure projects to be presented to the Board of Directors, and set aside for rural infrastructure projects;CommentsClose CommentsPermalink

(ii) the creation and management of--CommentsClose CommentsPermalink

(I) a Center for Excellence to provide technical assistance to public sector borrowers in the development and financing of infrastructure projects; andCommentsClose CommentsPermalink

(II) an Office of Rural Assistance to provide technical assistance in the development and financing of rural infrastructure projects; andCommentsClose CommentsPermalink

(iii) the establishment of guidelines to ensure diversification of lending activities by region, infrastructure project type, and project size.CommentsClose CommentsPermalink

(f) Changes to Senior Management- The Board of Directors, in consultation with the chief executive officer, may alter the structure of the senior management of AIFA at any time to better accomplish the goals, objectives, and purposes of AIFA, provided that the functions of the Chief Financial Officer set forth in subsection (e) remain separate from the functions of the Chief Risk Officer set forth in subsection (e).CommentsClose CommentsPermalink

(g) Conflicts of Interest- No individual appointed to senior management may--CommentsClose CommentsPermalink

(1) hold any other public office;CommentsClose CommentsPermalink

(2) have any financial interest in an infrastructure project then being considered by the Board of Directors, unless that interest is placed in a blind trust; orCommentsClose CommentsPermalink

(3) have any financial interest in an investment institution or its affiliates, AIFA or its affiliates, or other entity then seeking or likely to seek financial assistance for any infrastructure project from AIFA, unless any such interest is placed in a blind trust during the term of service of that individual in a senior management position, and for a period of 2 years thereafter.CommentsClose CommentsPermalink

SEC. 250. SPECIAL INSPECTOR GENERAL FOR AIFA.
(a) In General- During the first 5 operating years of AIFA, the Office of the Inspector General of the Department of the Treasury shall have responsibility for AIFA.CommentsClose CommentsPermalink

(b) Office of the Special Inspector General- Effective 5 years after the date of enactment of the commencement of the operations of AIFA, there is established the Office of the Special Inspector General for AIFA.CommentsClose CommentsPermalink

(c) Appointment of Inspector General; Removal-CommentsClose CommentsPermalink

(1) HEAD OF OFFICE- The head of the Office of the Special Inspector General for AIFA shall be the Special Inspector General for AIFA (in this Act referred to as the ‘Special Inspector General’), who shall be appointed by the President, by and with the advice and consent of the Senate.CommentsClose CommentsPermalink

(2) BASIS OF APPOINTMENT- The appointment of the Special Inspector General shall be made on the basis of integrity and demonstrated ability in accounting, auditing, financial analysis, law, management analysis, public administration, or investigations.CommentsClose CommentsPermalink

(3) TIMING OF NOMINATION- The nomination of an individual as Special Inspector General shall be made as soon as is practicable after the effective date under subsection (b).CommentsClose CommentsPermalink

(4) REMOVAL- The Special Inspector General shall be removable from office in accordance with the provisions of section 3(b) of the Inspector General Act of 1978 (5 U.S.C. App.).CommentsClose CommentsPermalink

(5) RULE OF CONSTRUCTION- For purposes of

(6) RATE OF PAY- The annual rate of basic pay of the Special Inspector General shall be the annual rate of basic pay for an Inspector General under section 3(e) of the Inspector General Act of 1978 (5 U.S.C. App.).CommentsClose CommentsPermalink

(d) Duties-CommentsClose CommentsPermalink

(1) IN GENERAL- It shall be the duty of the Special Inspector General to conduct, supervise, and coordinate audits and investigations of the business activities of AIFA.CommentsClose CommentsPermalink

(2) OTHER SYSTEMS, PROCEDURES, AND CONTROLS- The Special Inspector General shall establish, maintain, and oversee such systems, procedures, and controls as the Special Inspector General considers appropriate to discharge the duty under paragraph (1).CommentsClose CommentsPermalink

(3) ADDITIONAL DUTIES- In addition to the duties specified in paragraphs (1) and (2), the Inspector General shall also have the duties and responsibilities of inspectors general under the Inspector General Act of 1978.CommentsClose CommentsPermalink

(e) Powers and Authorities-CommentsClose CommentsPermalink

(1) IN GENERAL- In carrying out the duties specified in subsection (c), the Special Inspector General shall have the authorities provided in section 6 of the Inspector General Act of 1978.CommentsClose CommentsPermalink

(2) ADDITIONAL AUTHORITY- The Special Inspector General shall carry out the duties specified in subsection (c)(1) in accordance with section 4(b)(1) of the Inspector General Act of 1978.CommentsClose CommentsPermalink

(f) Personnel, Facilities, and Other Resources-CommentsClose CommentsPermalink

(1) ADDITIONAL OFFICERS-CommentsClose CommentsPermalink

(A) The Special Inspector General may select, appoint, and employ such officers and employees as may be necessary for carrying out the duties of the Special Inspector General, subject to the provisions of title 5, United States Code, governing appointments in the competitive service, and the provisions of chapter 51 and subchapter III of chapter 53 of such title, relating to classification and General Schedule pay rates.CommentsClose CommentsPermalink

(B) The Special Inspector General may exercise the authorities of subsections (b) through (i) of

(2) RETENTION OF SERVICES- The Special Inspector General may obtain services as authorized by

(3) ABILITY TO CONTRACT FOR AUDITS, STUDIES, AND OTHER SERVICES- The Special Inspector General may enter into contracts and other arrangements for audits, studies, analyses, and other services with public agencies and with private persons, and make such payments as may be necessary to carry out the duties of the Special Inspector General.CommentsClose CommentsPermalink

(4) REQUEST FOR INFORMATION-CommentsClose CommentsPermalink

(A) IN GENERAL- Upon request of the Special Inspector General for information or assistance from any department, agency, or other entity of the Federal Government, the head of such entity shall, insofar as is practicable and not in contravention of any existing law, furnish such information or assistance to the Special Inspector General, or an authorized designee.CommentsClose CommentsPermalink

(B) REFUSAL TO COMPLY- Whenever information or assistance requested by the Special Inspector General is, in the judgment of the Special Inspector General, unreasonably refused or not provided, the Special Inspector General shall report the circumstances to the Secretary of the Treasury, without delay.CommentsClose CommentsPermalink

(g) Reports-CommentsClose CommentsPermalink

(1) ANNUAL REPORT- Not later than 1 year after the confirmation of the Special Inspector General, and every calendar year thereafter, the Special Inspector General shall submit to the President a report summarizing the activities of the Special Inspector General during the previous 1-year period ending on the date of such report.CommentsClose CommentsPermalink

(2) PUBLIC DISCLOSURES- Nothing in this subsection shall be construed to authorize the public disclosure of information that is--CommentsClose CommentsPermalink

(A) specifically prohibited from disclosure by any other provision of law;CommentsClose CommentsPermalink

(B) specifically required by Executive order to be protected from disclosure in the interest of national defense or national security or in the conduct of foreign affairs; orCommentsClose CommentsPermalink

(C) a part of an ongoing criminal investigation.CommentsClose CommentsPermalink

SEC. 251. OTHER PERSONNEL.
Except as otherwise provided in the bylaws of AIFA, the chief executive officer, in consultation with the Board of Directors, shall appoint, remove, and define the duties of such qualified personnel as are necessary to carry out the powers, duties, and purpose of AIFA, other than senior management, who shall be appointed in accordance with section 249.CommentsClose CommentsPermalink

SEC. 252. COMPLIANCE.
The provision of assistance by the Board of Directors pursuant to this Act shall not be construed as superseding any provision of State law or regulation otherwise applicable to an infrastructure project.CommentsClose CommentsPermalink

PART II--TERMS AND LIMITATIONS ON DIRECT LOANS AND LOAN GUARANTEES
SEC. 253. ELIGIBILITY CRITERIA FOR ASSISTANCE FROM AIFA AND TERMS AND LIMITATIONS OF LOANS.
(a) In General- Any project whose use or purpose is private and for which no public benefit is created shall not be eligible for financial assistance from AIFA under this Act. Financial assistance under this Act shall only be made available if the applicant for such assistance has demonstrated to the satisfaction of the Board of Directors that the infrastructure project for which such assistance is being sought--CommentsClose CommentsPermalink

(1) is not for the refinancing of an existing infrastructure project; andCommentsClose CommentsPermalink

(2) meets--CommentsClose CommentsPermalink

(A) any pertinent requirements set forth in this Act;CommentsClose CommentsPermalink

(B) any criteria established by the Board of Directors or chief executive officer in accordance with this Act; andCommentsClose CommentsPermalink

(C) the definition of a transportation infrastructure project, water infrastructure project, or energy infrastructure project.CommentsClose CommentsPermalink

(b) Considerations- The criteria established by the Board of Directors pursuant to this Act shall provide adequate consideration of--CommentsClose CommentsPermalink

(1) the economic, financial, technical, environmental, and public benefits and costs of each infrastructure project under consideration for financial assistance under this Act, prioritizing infrastructure projects that--CommentsClose CommentsPermalink

(A) contribute to regional or national economic growth;CommentsClose CommentsPermalink

(B) offer value for money to taxpayers;CommentsClose CommentsPermalink

(C) demonstrate a clear and significant public benefit;CommentsClose CommentsPermalink

(D) lead to job creation; andCommentsClose Comments

U.S. Congress - Text of S.1549 as Placed on Calendar Senate American Jobs Act of 2011

