S 1895 ISCommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

1st SessionCommentsClose CommentsPermalink

S. 1895CommentsClose CommentsPermalink

To require the Secretary of Commerce to establish a program for the award of grants to States to establish revolving loan funds for small and medium-sized manufacturers to improve energy efficiency and produce clean energy technology, to provide a tax credit for farmers’ investments in value-added agriculture, and for other purposes.CommentsClose CommentsPermalink

IN THE SENATE OF THE UNITED STATESCommentsClose CommentsPermalink

November 17, 2011CommentsClose CommentsPermalink

Mrs. GILLIBRAND introduced the following bill; which was read twice and referred to the Committee on FinanceCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To require the Secretary of Commerce to establish a program for the award of grants to States to establish revolving loan funds for small and medium-sized manufacturers to improve energy efficiency and produce clean energy technology, to provide a tax credit for farmers’ investments in value-added agriculture, and for other purposes.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 ‘Upstate Works Act’.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

TITLE I--INVESTMENTS FOR MANUFACTURING PROGRESS AND CLEAN TECHNOLOGY

Sec. 101. Clean energy manufacturing revolving loan fund program.CommentsClose CommentsPermalink





Sec. 102. Clean energy and efficiency manufacturing partnerships.CommentsClose CommentsPermalink





Sec. 103. Technical amendments.CommentsClose CommentsPermalink

TITLE II--AGRICULTURAL PRODUCERS VALUE-ADDED INVESTMENT TAX CREDIT

Sec. 201. Credit for farmer investment in value-added agricultural property.CommentsClose CommentsPermalink

TITLE III--TRAINING GRANTS FOR EMPLOYEES

Sec. 301. Definition of Secretary.CommentsClose CommentsPermalink





Sec. 302. Authorization.CommentsClose CommentsPermalink





Sec. 303. Use of amounts.CommentsClose CommentsPermalink





Sec. 304. Requirement of matching funds.CommentsClose CommentsPermalink





Sec. 305. Limit on administrative expenses.CommentsClose CommentsPermalink





Sec. 306. Authorization of appropriations.CommentsClose CommentsPermalink

TITLE IV--FEDERAL INVESTMENT TO EXPAND BROADBAND ACCESS

Sec. 401. Additional authorization of appropriations to extend access to broadband telecommunications services in rural areas.CommentsClose CommentsPermalink

TITLE V--BUILD AMERICA BONDS TO CREATE JOBS NOW

Sec. 501. Short title.CommentsClose CommentsPermalink





Sec. 502. Extension of Build America Bonds.CommentsClose CommentsPermalink

TITLE I--INVESTMENTS FOR MANUFACTURING PROGRESS AND CLEAN TECHNOLOGYCommentsClose CommentsPermalink

SEC. 101. CLEAN ENERGY MANUFACTURING REVOLVING LOAN FUND PROGRAM.

The National Institute of Standards and Technology Act (15 U.S.C. 271 et seq.) is amended by inserting after section 26 the following:CommentsClose CommentsPermalink

‘SEC. 27. CLEAN ENERGY MANUFACTURING REVOLVING LOAN FUND PROGRAM.

‘(a) Purposes- The purposes of this section are--CommentsClose CommentsPermalink





‘(1) to develop the long-term manufacturing capacity of the United States;CommentsClose CommentsPermalink





‘(2) to create jobs through the retooling and expansion of manufacturing facilities to produce clean energy technology products and energy efficient products;CommentsClose CommentsPermalink





‘(3) to improve the long-term competitiveness of domestic manufacturing by increasing the energy efficiency of manufacturing facilities; andCommentsClose CommentsPermalink





‘(4) to assist small and medium-sized manufacturers diversify operations to respond to emerging clean energy technology product markets.CommentsClose CommentsPermalink





‘(b) Definitions- In this section:CommentsClose CommentsPermalink





‘(1) CLEAN ENERGY TECHNOLOGY PRODUCT- The term ‘clean energy technology product’ means technology products relating to--CommentsClose CommentsPermalink





‘(A) wind turbines;CommentsClose CommentsPermalink





‘(B) solar energy;CommentsClose CommentsPermalink





‘(C) fuel cells;CommentsClose CommentsPermalink





‘(D) advanced batteries, battery systems, or storage devices;CommentsClose CommentsPermalink





‘(E) biomass equipment;CommentsClose CommentsPermalink





‘(F) geothermal equipment;CommentsClose CommentsPermalink





‘(G) advanced biofuels;CommentsClose CommentsPermalink





‘(H) ocean energy equipment;CommentsClose CommentsPermalink





‘(I) carbon capture and storage;CommentsClose CommentsPermalink





‘(J) such other products as the Secretary determines--CommentsClose CommentsPermalink





‘(i) relate to the production, use, transmission, storage, control, or conservation of energy;CommentsClose CommentsPermalink





‘(ii) reduce greenhouse gas concentrations;CommentsClose CommentsPermalink





‘(iii) achieve the earliest and maximum emission reductions within a reasonable period per dollar invested;CommentsClose CommentsPermalink





‘(iv) result in the fewest non-greenhouse gas environmental impacts; andCommentsClose CommentsPermalink





‘(v)(I) reduce the need for additional energy supplies by--CommentsClose CommentsPermalink





‘(aa) using existing energy supplies with greater efficiency; orCommentsClose CommentsPermalink





‘(bb) transmitting, distributing, or transporting energy with greater effectiveness through the infrastructure of the United States; orCommentsClose CommentsPermalink





‘(II) diversify the sources of energy supply of the United States--CommentsClose CommentsPermalink





‘(aa) to strengthen energy security; andCommentsClose CommentsPermalink





‘(bb) to increase supplies with a favorable balance of environmental effects if the entire technology system is considered.CommentsClose CommentsPermalink





‘(2) ENERGY EFFICIENT PRODUCT- The term ‘energy efficient product’ means a product that the Secretary, in consultation with the Secretary of Energy, determines--CommentsClose CommentsPermalink





‘(A) consumes significantly less energy than the average amount that all similar products consumed on the day before the date of the enactment of this Act; orCommentsClose CommentsPermalink





‘(B) is a component, system, or group of subsystems that is designed, developed, and validated to optimize the energy efficiency of a product.CommentsClose CommentsPermalink





‘(3) PROGRAM- The term ‘Program’ means the grant program established pursuant to subsection (c)(1).CommentsClose CommentsPermalink





‘(4) REVOLVING LOAN FUND- The term ‘revolving loan fund’ means a revolving loan fund described in subsection (d).CommentsClose CommentsPermalink





‘(5) SMALL OR MEDIUM-SIZED MANUFACTURER- The term ‘small or medium-sized manufacturer’ means a manufacturer that employs fewer than 500 full-time equivalent employees at a manufacturing facility that is not owned or controlled by an automobile manufacturer.CommentsClose CommentsPermalink





‘(c) Grant Program-CommentsClose CommentsPermalink





‘(1) ESTABLISHMENT- Not later than 120 days after the date of the enactment of this section, the Secretary shall establish a program under which the Secretary shall award grants to States to establish revolving loan funds to provide loans to small or medium-sized manufacturers to finance the cost of--CommentsClose CommentsPermalink





‘(A) reequipping, expanding, or establishing (including applicable engineering costs) a manufacturing facility in the United States to produce--CommentsClose CommentsPermalink





‘(i) clean energy technology products;CommentsClose CommentsPermalink





‘(ii) energy efficient products; orCommentsClose CommentsPermalink





‘(iii) integral component parts of clean energy technology products or energy efficient products; orCommentsClose CommentsPermalink





‘(B) reducing the energy intensity or greenhouse gas production of a manufacturing facility in the United States, including using energy intensive feedstocks.CommentsClose CommentsPermalink





‘(2) MAXIMUM AMOUNT- The Secretary may not award a grant under the Program in an amount that exceeds $500,000,000 in any fiscal year.CommentsClose CommentsPermalink





‘(d) Criteria for Awarding Grants-CommentsClose CommentsPermalink





‘(1) MATCHING FUNDS- The Secretary may not award a grant to a State under the Program unless the State ensures that not less than 20 percent of the amount of each loan provided by the State under the Program originates from non-Federal sources.CommentsClose CommentsPermalink





‘(2) ADMINISTRATIVE COSTS- Grants under the Program may only be used for the costs of administering the revolving loan fund, in accordance with regulations promulgated by the Secretary.CommentsClose CommentsPermalink





‘(3) APPLICATION- Each State seeking a grant under the Program shall submit an application to the Secretary in such form, in such manner, and containing such information as the Secretary considers appropriate.CommentsClose CommentsPermalink





‘(4) EVALUATION- The Secretary shall evaluate and prioritize each application submitted by a State for a grant under the Program on the basis of--CommentsClose CommentsPermalink





‘(A) the description of--CommentsClose CommentsPermalink





‘(i) the revolving loan fund to be established with the grant; andCommentsClose CommentsPermalink





‘(ii) how such revolving loan fund is expected to achieve the purposes described in subsection (a);CommentsClose CommentsPermalink





‘(B) whether the State will be able to provide loans from the revolving loan fund to small or medium-sized manufacturers within 120 days after receiving the grant;CommentsClose CommentsPermalink





‘(C) a description of how the State is planning to coordinate the administration of the revolving loan fund with other State and Federal programs, including programs administered by the Assistant Secretary for Economic Development;CommentsClose CommentsPermalink





‘(D) a description of the actual or potential clean energy manufacturing supply chains, including significant component parts, in the region served by the revolving loan fund;CommentsClose CommentsPermalink





‘(E) how the State is planning to target the provision of loans under the Program to manufacturers located in regions characterized by high unemployment and sudden and severe economic dislocation, particularly if mass layoffs have resulted in a precipitous increase in unemployment;CommentsClose CommentsPermalink





‘(F) the availability of a skilled manufacturing workforce in the region served by the revolving loan fund;CommentsClose CommentsPermalink





‘(G) the capacity of the region’s workforce and education systems to provide pathways for unemployed or low-income workers into skilled manufacturing employment;CommentsClose CommentsPermalink





‘(H) a description of how the State will target loans to small or medium-sized manufacturers that--CommentsClose CommentsPermalink





‘(i) manufacture automobile components; andCommentsClose CommentsPermalink





‘(ii)(I) increase the energy efficiency of their manufacturing facilities; orCommentsClose CommentsPermalink





‘(II) retool to manufacture clean energy products or energy efficient products, including manufacturing components to improve the compliance of an automobile with fuel economy standards prescribed under section 32902 of title 49, United States Code;CommentsClose CommentsPermalink





‘(I) a description of how the State is planning to use the loan fund to achieve the earliest and maximum greenhouse gas emission reductions within a reasonable period of time for each dollar invested and with the fewest non-greenhouse gas environmental impacts; andCommentsClose CommentsPermalink





‘(J) such other factors as the Secretary considers appropriate to ensure that grants awarded under the Program effectively and efficiently achieve the purposes described in subsection (a).CommentsClose CommentsPermalink





‘(e) Revolving Loan Funds-CommentsClose CommentsPermalink





‘(1) IN GENERAL- A State receiving a grant under the Program shall establish, maintain, and administer a revolving loan fund in accordance with this subsection.CommentsClose CommentsPermalink





‘(2) DEPOSITS- A revolving loan fund shall consist of--CommentsClose CommentsPermalink





‘(A) amounts from grants awarded under this section; andCommentsClose CommentsPermalink





‘(B) all amounts held or received by the State incident to the provision of loans described in subsection (f), including all collections of principal and interest.CommentsClose CommentsPermalink





‘(3) EXPENDITURES- Amounts in the revolving loan fund shall be available for the provision and administration of loans in accordance with subsection (f).CommentsClose CommentsPermalink





‘(f) Loans-CommentsClose CommentsPermalink





‘(1) IN GENERAL- A State receiving a grant under this section shall use the amount in the revolving loan fund to provide loans to small or medium-sized manufacturers.CommentsClose CommentsPermalink





‘(2) LOAN TERMS AND CONDITIONS-CommentsClose CommentsPermalink





‘(A) TERMS- In determining the term of each loan provided under paragraph (1), the State shall ensure that--CommentsClose CommentsPermalink





‘(i) the term of any loan for fixed assets does not exceed the useful life of the asset and is shorter than 15 years; andCommentsClose CommentsPermalink





‘(ii) the term of any loan for working capital is not longer than 3 years.CommentsClose CommentsPermalink





‘(B) INTEREST RATES- The interest rate set by the State for each loan provided under paragraph (1)--CommentsClose CommentsPermalink





‘(i) shall enable the loan recipient to accomplish the activities described in subparagraphs (A) and (B) of subsection (c)(1);CommentsClose CommentsPermalink





‘(ii) may be set at below-market interest rates;CommentsClose CommentsPermalink





‘(iii) may not be lower than 0 percent; andCommentsClose CommentsPermalink





‘(iv) may not be greater than 500 basis points above the prime rate, as of the settlement date for such loan.CommentsClose CommentsPermalink





‘(C) DESCRIPTION AND BUDGET FOR USE OF LOAN FUNDS- Each recipient of a loan from a State under the Program shall develop and submit, to the State and to the Secretary, a description and budget for the use of loan amounts, including a description of--CommentsClose CommentsPermalink





‘(i) any new business expected to be developed with the loan;CommentsClose CommentsPermalink





‘(ii) any improvements to manufacturing operations to be developed with the loan; andCommentsClose CommentsPermalink





‘(iii) any technology expected to be commercialized with the loan.CommentsClose CommentsPermalink





‘(D) PRIORITY IN REVIEW AND PREFERENCE IN SELECTION FOR CERTAIN LOAN APPLICANTS-CommentsClose CommentsPermalink





‘(i) REVIEW- In reviewing applications submitted by small or medium-sized manufacturers for a loan, a recipient of a grant under the Program shall give priority to small or medium-sized manufacturers described in clause (iii).CommentsClose CommentsPermalink





‘(ii) SELECTION- In selecting small or medium-sized manufacturers to receive a loan, a recipient of a grant under the Program shall give preference to small or medium-sized manufacturers described in clause (iii).CommentsClose CommentsPermalink





‘(iii) PRIORITY AND PREFERRED SMALL OR MEDIUM-SIZED MANUFACTURERS- A small or medium-sized manufacturer described in this clause is a manufacturer that--CommentsClose CommentsPermalink





‘(I) is certified by a Hollings Manufacturing Extension Center or a manufacturing-related local intermediary designated by the Secretary for purposes of providing such certification; orCommentsClose CommentsPermalink





‘(II) provides individuals employed at the manufacturing facilities of the manufacturer with--CommentsClose CommentsPermalink

‘(aa) pay that is, on average, not less than the average wage of an individual working in a manufacturing facility in the State; andCommentsClose CommentsPermalink

‘(bb) health benefits.CommentsClose CommentsPermalink

‘(iv) CERTIFICATION BY HOLLINGS MANUFACTURING EXTENSION CENTER- A Hollings Manufacturing Extension Center or other entity designated by the Secretary for purposes of providing certification under clause (iii)(I) may not certify applications for a loan until the Center or other entity has completed a qualitative and quantitative review of the applicant’s business strategy, manufacturing operations, and technological ability to contribute to the purposes described in subsection (a).CommentsClose CommentsPermalink





‘(E) REPAYMENT UPON RELOCATION OUTSIDE UNITED STATES-CommentsClose CommentsPermalink





‘(i) IN GENERAL- The recipient of a loan under paragraph (1) to finance the cost of reequipping, expanding, or establishing a manufacturing facility or to reduce the energy intensity of a manufacturing facility that relocates the production activities of such manufacturing facility outside the United States during the term of the loan shall repay such loan in full in accordance with this subparagraph.CommentsClose CommentsPermalink





‘(ii) PAYMENT OF INTEREST- The repayment of a loan under clause (i) shall bear interest at a penalty rate determined by the Secretary to deter recipients of loans under paragraph (1) from relocating production activities outside the United States.CommentsClose CommentsPermalink





‘(iii) PERIOD OF REPAYMENT- The Secretary shall determine the duration of the repayment of a loan under clause (i).CommentsClose CommentsPermalink





‘(F) COMPLIANCE WITH WAGE RATE REQUIREMENTS- Each recipient of a loan under paragraph (1) shall incorporate, into all contracts for construction, alteration, or repair, which are paid for, in whole or in part, with amounts obtained pursuant to such loan, a requirement that all laborers and mechanics employed by contractors and subcontractors performing construction, alteration, or repair shall be paid wages at rates not less than those determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code (known as the ‘Davis-Bacon Act’), to be prevailing for the corresponding classes of laborers and mechanics employed on projects of a character similar to the contract work in the same locality in which the work is to be performed. With respect to the labor standards specified in this subparagraph, the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (15 Fed. Reg. 3176; 64 Stat. 1267) and section 3145 of title 40, United States Code.CommentsClose CommentsPermalink





‘(G) ANNUAL REPORTS BY LOAN RECIPIENTS- Not less frequently than once each year during the term of each loan issued by a State under paragraph (1), the loan recipient shall submit a report to such State that contains such information as the Secretary may specify for purposes of the Program, including information that the Secretary can use to determine whether a recipient of a loan is required to repay the loan under subparagraph (E).CommentsClose CommentsPermalink





‘(3) ANNUAL REPORTS BY GRANT RECIPIENTS- Not less frequently than once each year, each recipient of a grant under the Program shall submit a report to the Secretary that describes--CommentsClose CommentsPermalink





‘(A) the impact of each loan issued by the State under the Program; andCommentsClose CommentsPermalink





‘(B) the aggregate impact of all such loans, including--CommentsClose CommentsPermalink





‘(i) the sales increased or retained;CommentsClose CommentsPermalink





‘(ii) cost savings or costs avoided;CommentsClose CommentsPermalink





‘(iii) additional investment encouraged; andCommentsClose CommentsPermalink





‘(iv) jobs created or retained.CommentsClose CommentsPermalink





‘(g) Authorization of Appropriations- There is authorized to be appropriated $15,000,000,000 for each of fiscal years 2012 and 2013 to carry out this section.’.CommentsClose CommentsPermalink

SEC. 102. CLEAN ENERGY AND EFFICIENCY MANUFACTURING PARTNERSHIPS.

(a) Hollings Manufacturing Partnership Program- Section 25(b) of the National Institute of Standards and Technology Act (15 U.S.C. 278k(b)) is amended--CommentsClose CommentsPermalink





(1) in paragraph (2), by striking ‘and’ at the end;CommentsClose CommentsPermalink





(2) in paragraph (3), by striking the period at the end and inserting ‘; and’; andCommentsClose CommentsPermalink





(3) by adding at the end the following:CommentsClose CommentsPermalink





‘(4) the establishment of a clean energy manufacturing supply chain initiative--CommentsClose CommentsPermalink





‘(A) to support manufacturers in their identification of and diversification to new markets, including support for manufacturers transitioning to the use of clean energy supply chains;CommentsClose CommentsPermalink





‘(B) to assist manufacturers improve their competitiveness by reducing energy intensity and greenhouse gas production, including the use of energy intensive feedstocks;CommentsClose CommentsPermalink





‘(C) to increase adoption and implementation of innovative manufacturing technologies;CommentsClose CommentsPermalink





‘(D) to coordinate and leverage the expertise of the National Laboratories and Technology Centers and the Industrial Assessment Centers of the Department of Energy to meet the needs of manufacturers; andCommentsClose CommentsPermalink





‘(E) to identify, assist, and certify manufacturers seeking loans under section 27(e)(1).’.CommentsClose CommentsPermalink





(b) Reduction in Cost Share Requirements- Section 25(c) of the National Institute of Standards and Technology Act (15 U.S.C. 278k(c)) is amended--CommentsClose CommentsPermalink





(1) in paragraph (1), by striking ‘six years’ and inserting ‘6 years, or as provided in paragraph (5)’;CommentsClose CommentsPermalink





(2) in paragraph (3)(B), by striking ‘not less than 50 percent of the costs incurred for the first 3 years and an increasing share for each of the last 3 years’ and inserting ‘50 percent of the costs incurred, or such lesser percentage of the costs incurred that the Secretary determines, by rule, to be appropriate’; andCommentsClose CommentsPermalink





(3) in paragraph (5)--CommentsClose CommentsPermalink





(A) by striking ‘at declining levels’; andCommentsClose CommentsPermalink





(B) by striking ‘one third of the capital and annual operating and maintenance costs’ and inserting ‘50 percent of the capital and annual operating and maintenance costs, or such lesser percentage that the Secretary determines, by rule, to be appropriate’.CommentsClose CommentsPermalink





(c) Authorization of Appropriations- There are authorized to be appropriated to the Secretary of Commerce for the Hollings Manufacturing Partnership Program authorized under sections 25 of the National Institute of Standards and Technology Act (15 U.S.C. 278k) and for the provision of assistance under section 26 of such Act (15 U.S.C. 278l)--CommentsClose CommentsPermalink





(1) $200,000,000 for fiscal year 2012;CommentsClose CommentsPermalink





(2) $250,000,000 for fiscal year 2013;CommentsClose CommentsPermalink





(3) $300,000,000 for fiscal year 2014;CommentsClose CommentsPermalink





(4) $350,000,000 for fiscal year 2015; andCommentsClose CommentsPermalink





(5) $400,000,000 for fiscal year 2016.CommentsClose CommentsPermalink

SEC. 103. TECHNICAL AMENDMENTS.

(a) Amendment to National Institute of Standards and Technology Act- Section 25 of the National Institute of Standards and Technology Act (15 U.S.C. 278k) is amended--CommentsClose CommentsPermalink





(1) in subsection (a), by striking ‘(hereafter in this Act referred to as the ‘Centers’)’; andCommentsClose CommentsPermalink





(2) by adding at the end the following:CommentsClose CommentsPermalink





‘(g) Designation-CommentsClose CommentsPermalink





‘(1) HOLLINGS MANUFACTURING PARTNERSHIP PROGRAM- For purposes of this Act, the program established under this section shall be known as the ‘Hollings Manufacturing Partnership Program’.CommentsClose CommentsPermalink





‘(2) HOLLINGS MANUFACTURING EXTENSION CENTERS- For purposes of this Act, the Regional Centers for the Transfer of Manufacturing Technology created and supported under subsection (a) shall be known as ‘Hollings Manufacturing Extension Centers’ or ‘Centers’).’.CommentsClose CommentsPermalink





(b) Amendment to Consolidated Appropriations Act, 2005- Title II of division B of the Consolidated Appropriations Act, 2005 (Public Law 108-447; 118 Stat. 2879; 15 U.S.C. 278k note) is amended under the heading ‘INDUSTRIAL TECHNOLOGY SERVICES’ by striking ‘2007: Provided further, That’ and all that follows through ‘Extension Centers.’ and inserting ‘2007.’.CommentsClose CommentsPermalink

TITLE II--AGRICULTURAL PRODUCERS VALUE-ADDED INVESTMENT TAX CREDITCommentsClose CommentsPermalink

SEC. 201. CREDIT FOR FARMER INVESTMENT IN VALUE-ADDED AGRICULTURAL PROPERTY.

(a) In General- Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:CommentsClose CommentsPermalink

‘SEC. 45S. VALUE-ADDED AGRICULTURAL PROPERTY INVESTMENT CREDIT.

‘(a) General Rule- For purposes of section 38, in the case of a taxpayer who is--CommentsClose CommentsPermalink





‘(1) an eligible person, orCommentsClose CommentsPermalink





‘(2) a farmer-owned entity,CommentsClose CommentsPermalink





the value-added agricultural property investment credit determined under this section for any taxable year is 50 percent of the basis of any qualified value-added agricultural property placed in service during the taxable year. In the case of a farmer-owned entity, such credit shall be allocated on a pro rata basis among eligible persons holding qualified investments in such entity as of the last day of such taxable year.CommentsClose CommentsPermalink





‘(b) Maximum Credit- For purposes of subsection (a)--CommentsClose CommentsPermalink





‘(1) PROPERTY PLACED IN SERVICE BY ELIGIBLE PERSON- In the case of property placed in service during a taxable year by an eligible person, the credit determined under this section for such year shall not exceed $30,000, reduced by the amount of the creditable investments allowed for the taxable year under paragraph (2).CommentsClose CommentsPermalink





‘(2) PROPERTY PLACED IN SERVICE BY FARMER-OWNED ENTITY-CommentsClose CommentsPermalink





‘(A) IN GENERAL- In the case of property placed in service by a farmer-owned entity, the credit determined under this section shall not exceed the sum of the eligible person’s creditable investments in such entity as of the date such property is placed in service.CommentsClose CommentsPermalink





‘(B) CREDITABLE INVESTMENTS- For purposes of subparagraph (A), the term ‘creditable investments’ means, with respect to any property placed in service by a farmer-owned entity, the aggregate qualified investments made by the eligible person in such entity, reduced (but not below zero) by the sum of--CommentsClose CommentsPermalink





‘(i) the amount of the aggregate qualified investments made by such person in such entity which were taken into account under this section with respect to property previously placed in service by such entity, andCommentsClose CommentsPermalink





‘(ii) the amount of the aggregate qualified investments made by such person in all other farmer-owned entities which were taken into account under this section with respect to property previously placed in service by such other entities.CommentsClose CommentsPermalink





‘(C) LIMITATION- For purposes of this paragraph, the aggregate qualified investments made by the eligible person which may be taken into account for any taxable year shall not exceed $30,000.CommentsClose CommentsPermalink





‘(c) Definitions- For purposes of this section--CommentsClose CommentsPermalink





‘(1) QUALIFIED VALUE-ADDED AGRICULTURAL PROPERTY- The term ‘qualified value-added agricultural property’ means property--CommentsClose CommentsPermalink





‘(A) which is used to add value to a good or product, suitable for food or nonfood use, derived in whole or in part from organic matter which is available on a renewable basis, including agricultural crops and agricultural wastes and residues, wood wastes and residues, and domesticated animal wastes,CommentsClose CommentsPermalink





‘(B)(i) to which section 168 applies without regard to any useful life, orCommentsClose CommentsPermalink





‘(ii) with respect to which depreciation (or amortization in lieu of depreciation) is allowable and having a useful life (determined as of the time such property is placed in service) of 3 years or more, andCommentsClose CommentsPermalink





‘(C) which is owned and operated by an eligible person or a farmer-owned entity.CommentsClose CommentsPermalink





‘(2) ELIGIBLE PERSON-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘eligible person’ means a person who materially participates during the taxable year in an eligible farming business.CommentsClose CommentsPermalink





‘(B) MATERIAL PARTICIPATION- For purposes of subparagraph (A), the determination of whether a person materially participates in the trade or business of farming shall be made in a manner similar to the manner in which such determination is made under section 2032A(e)(6). In the case that the person is a corporation, cooperative, partnership, estate, or trust, such determination shall be made at the shareholder, partner, or beneficial interests level (as the case may be).CommentsClose CommentsPermalink





‘(C) ELIGIBLE FARMING BUSINESS- For purposes of subparagraph (A), the term ‘eligible farming business’ means a farming business (as defined in section 263A(e)(4)) which is not a passive activity (within the meaning of section 469(c)).CommentsClose CommentsPermalink





‘(3) FARMER-OWNED ENTITY-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘farmer-owned entity’ means--CommentsClose CommentsPermalink





‘(i) a corporation (including an S corporation) in which eligible persons own 50 percent or more of the total voting power of the stock and 50 percent or more (in value) of the stock,CommentsClose CommentsPermalink





‘(ii) a partnership in which eligible persons own 50 percent or more of the total voting power of the profits interest and 50 percent or more (in value) of the profits interest, andCommentsClose CommentsPermalink





‘(iii) a cooperative in which eligible persons own 50 percent or more of the total voting power of the member patronage interests and 50 percent or more (in value) of the member patronage interests.CommentsClose CommentsPermalink





‘(B) CONSTRUCTIVE OWNERSHIP RULES- For purposes of subparagraph (A), rules similar to the rules of section 263A(e)(2)(B) shall apply; except that, in applying such rules, the members of an individual’s family shall be the individuals described in subparagraph (C).CommentsClose CommentsPermalink





‘(C) MEMBERS OF FAMILY- The family of any individual shall include only his spouse and children, grandchildren, and great grandchildren (whether by the whole or half blood), and the spouses of his children, grandchildren, and great grandchildren, who reside in the same household or jointly operate farming businesses (as defined in section 263A(e)(4)). For purposes of the preceding sentence, a child who is legally adopted, or who is placed with the taxpayer by an authorized placement agency for adoption by the taxpayer, shall be treated as a child by blood.CommentsClose CommentsPermalink





‘(4) QUALIFIED INVESTMENTS-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘qualified investments’ means a payment of cash for the purchase of a qualified equity interest in a farmer-owned entity.CommentsClose CommentsPermalink





‘(B) QUALIFIED EQUITY INTEREST- The term ‘qualified equity interest’ means--CommentsClose CommentsPermalink





‘(i) any stock in a domestic corporation if such stock is acquired by the taxpayer after December 31, 2009, and before January 1, 2016, at its original issue (directly or through an underwriter) from the corporation solely in exchange for cash,CommentsClose CommentsPermalink





‘(ii) any capital or profits interest in a domestic partnership if such interest is acquired by the taxpayer after December 31, 2009, and before January 1, 2016, andCommentsClose CommentsPermalink





‘(iii) any patronage interest in a cooperative if such interest is acquired by the taxpayer after December 31, 2009, and before January 1, 2016.CommentsClose CommentsPermalink





Rules similar to the rules of section 1202(c)(3) shall apply for purposes of this paragraph.CommentsClose CommentsPermalink





‘(d) Special Rules- For purposes of this section--CommentsClose CommentsPermalink





‘(1) TREATMENT OF MARRIED INDIVIDUALS- In the case of a separate return by a married individual (as defined in section 7703), subsection (b)(3)(A) shall be applied by substituting ‘$15,000’ for ‘$30,000’.CommentsClose CommentsPermalink





‘(2) APPLICABLE RULES- Under regulations prescribed by the Secretary--CommentsClose CommentsPermalink





‘(A) ALLOCATION OF CREDIT IN THE CASE OF ESTATES AND TRUSTS- Rules similar to the rules of subsection (d) of section 52 shall apply.CommentsClose CommentsPermalink





‘(B) CERTAIN PROPERTY NOT ELIGIBLE- Rules similar to the rules of section 50(b) shall apply.CommentsClose CommentsPermalink





‘(3) BASIS ADJUSTMENT- For purposes of this subtitle, if a credit is allowed under this section to any eligible person with respect to qualified value-added agricultural property, the basis of such property shall be reduced by the amount of the credit so allowed and increased by the amount of recapture under subsection (e).CommentsClose CommentsPermalink





‘(e) Recapture in the Case of Certain Dispositions-CommentsClose CommentsPermalink





‘(1) IN GENERAL- Under regulations prescribed by the Secretary, rules similar to the rules of section 50(a) shall apply with respect to an eligible person if, within the 5-year period beginning on the date qualified value-added agricultural property with respect to which such person was allowed a credit under subsection (a) is originally placed in service--CommentsClose CommentsPermalink





‘(A) such property ceases to be qualified for purposes of this section,CommentsClose CommentsPermalink





‘(B) the eligible person or the farmer-owned entity (as the case may be) disposes of all or part of such property, orCommentsClose CommentsPermalink





‘(C) the eligible person or the farmer-owned entity (as the case may be) ceases to be an eligible person or farmer-owned entity for purposes of this section.CommentsClose CommentsPermalink





‘(2) SPECIAL RULES IN EVENT OF DEATH-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The period in paragraph (1) shall be suspended with respect to an eligible person for the 2-year period beginning on the date of death of such person.CommentsClose CommentsPermalink





‘(B) HEIRS WHO ARE ELIGIBLE PERSONS- In the case that an heir of an eligible person is also an eligible person, neither paragraph (1) nor subparagraph (A) of this paragraph (unless elected by such heir) shall apply with respect to the transfer of property to such heir.CommentsClose CommentsPermalink





‘(f) Regulations- The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this section.CommentsClose CommentsPermalink





‘(g) Termination- This section shall not apply to property placed in service after December 31, 2013.’.CommentsClose CommentsPermalink





(b) Credit Allowed as Part of General Business Credit- Section 38(b) of the Internal Revenue Code of 1986 is amended by striking ‘plus’ at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting ‘, plus’, and by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(37) in the case of an eligible person (as defined in section 45S(c)(2)) or farmer-owned entity (as defined in section 45S(c)(3)), the value-added agricultural property investment credit determined under section 45S(a).’.CommentsClose CommentsPermalink





(c) Credit Allowable Against Minimum Tax- Subparagraph (B) of section 38(c)(4) of the Internal Revenue Code of 1986 is amended by redesignating clauses (vii) through (ix) as clauses (viii) through (x), respectively, and by inserting after clause (vi) the following new clause:CommentsClose CommentsPermalink





‘(vii) the credit determined under section 45S (relating to value-added agricultural property investment credit).’.CommentsClose CommentsPermalink





(d) Deduction for Certain Unused Business Credits- Subsection (c) of section 196 of the Internal Revenue Code of 1986 is amended by striking ‘and’ at the end of paragraph (13), by striking the period at the end of paragraph (14) and inserting ‘, and’, and by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(15) the value-added agricultural property investment credit determined under section 45S.’.CommentsClose CommentsPermalink





(e) Basis Adjustment- Subsection (a) of section 1016 of the Internal Revenue Code of 1986 is amended by striking ‘and’ at the end of paragraph (36), by striking the period at the end of paragraph (37) and inserting ‘, and’, and by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(38) to the extent provided in section 45S(d)(3), in the case of payments with respect to which a credit has been allowed under section 38.’.CommentsClose CommentsPermalink





(f) Clerical Amendment- The table of sections for subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end thereof the following new item:CommentsClose CommentsPermalink





‘Sec. 45S. Value-added agricultural property investment credit.’.CommentsClose CommentsPermalink





(g) Effective Date- The amendments made by this section shall apply to qualified investments (as defined in section 45S(c)(4) of the Internal Revenue Code of 1986, as added by this section) made, and property placed in service, after December 31, 2011.CommentsClose CommentsPermalink

TITLE III--TRAINING GRANTS FOR EMPLOYEESCommentsClose CommentsPermalink

SEC. 301. DEFINITION OF SECRETARY.

In this title, the term ‘Secretary’ means the Secretary of Labor.CommentsClose CommentsPermalink

SEC. 302. AUTHORIZATION.

(a) In General- The Secretary, in consultation with the Secretary of Commerce, shall award grants to eligible entities described in subsection (b) to assist the entities to improve the job skills necessary for employment in specific industries. In making such awards, special consideration should be given by the Secretary of Commerce to eligible areas experiencing high unemployment, underemployment, and outmigration or population loss.CommentsClose CommentsPermalink





(b) Eligible Entities Described-CommentsClose CommentsPermalink





(1) IN GENERAL- An eligible entity described in this subsection is a consortium that--CommentsClose CommentsPermalink





(A) shall consist of representatives from not less than 5 businesses, or a lesser number of businesses if such lesser number of businesses employs at least 30 percent of the employees in the industry involved in the region (or a nonprofit organization that represents such businesses);CommentsClose CommentsPermalink





(B) may consist of representatives from--CommentsClose CommentsPermalink





(i) labor organizations;CommentsClose CommentsPermalink





(ii) State and local government; andCommentsClose CommentsPermalink





(iii) educational institutions;CommentsClose CommentsPermalink





(C) is established to serve 1 or more particular industries; andCommentsClose CommentsPermalink





(D) is established to serve an eligible area.CommentsClose CommentsPermalink





(2) ELIGIBLE AREA- The term ‘eligible area’ means any county that, based on information contained in the most recent decennial census, has a population of not more than 1,000,000 residents.CommentsClose CommentsPermalink





(3) MAJORITY OF REPRESENTATIVES- A majority of the representatives comprising the consortium shall be representatives described in paragraph (1)(A).CommentsClose CommentsPermalink





(c) Priority for Small Businesses- In providing grants under subsection (a), the Secretary shall give priority to an eligible entity if a majority of representatives forming the entity represent small-business concerns (as defined in section 3(a) of the Small Business Act (15 U.S.C. 632(a)).CommentsClose CommentsPermalink





(d) Maximum Amount of Grant- The amount of a grant awarded to an eligible entity under subsection (a) may not exceed $1,000,000 for any fiscal year.CommentsClose CommentsPermalink

SEC. 303. USE OF AMOUNTS.

(a) In General- The Secretary may not award a grant under section 402 to an eligible entity unless the entity agrees to use amounts received from the grant to improve the job skills necessary for employment by businesses in the industry with respect to which the entity was established.CommentsClose CommentsPermalink





(b) Conduct of Program-CommentsClose CommentsPermalink





(1) IN GENERAL- In carrying out the program described in subsection (a), the eligible entity may provide for--CommentsClose CommentsPermalink





(A) an assessment of training and job skill needs for the industry;CommentsClose CommentsPermalink





(B) the development of a sequence of skill standards that are benchmarked to advanced industry practices;CommentsClose CommentsPermalink





(C) the development of curriculum and training methods, including, where appropriate, e-learning or technology-based training;CommentsClose CommentsPermalink





(D) the purchase, lease, or receipt of donations of training equipment;CommentsClose CommentsPermalink





(E) the identification of training providers and the development of partnerships between the industry and educational institutions, including community colleges;CommentsClose CommentsPermalink





(F) the development of apprenticeship programs;CommentsClose CommentsPermalink





(G) the development of training programs for workers, including dislocated workers;CommentsClose CommentsPermalink





(H) the development of training plans for businesses; andCommentsClose CommentsPermalink





(I) the development of the membership of the entity.CommentsClose CommentsPermalink





(2) ADDITIONAL REQUIREMENT- In carrying out the program described in subsection (a), the eligible entity shall provide for the development and tracking of performance outcome measures for the program and the training providers involved in the program.CommentsClose CommentsPermalink





(c) Administrative Costs- The eligible entity may use not more than 10 percent of the amount of a grant to pay for administrative costs associated with the program described in subsection (a).CommentsClose CommentsPermalink

SEC. 304. REQUIREMENT OF MATCHING FUNDS.

(a) In General- The Secretary may not award a grant under section 402 to an eligible entity unless the entity agrees that the entity will make available non-Federal contributions toward the costs of carrying out activities under the grant in an amount that is not less than $2 for each $1 of Federal funds provided under the grant, of which--CommentsClose CommentsPermalink





(1) $1 shall be provided by the businesses participating in the entity; andCommentsClose CommentsPermalink





(2) $1 shall be provided by the State or local government involved.CommentsClose CommentsPermalink





(b) Other Contributions-CommentsClose CommentsPermalink





(1) EQUIPMENT- Equipment donations to facilities that are not owned or operated by the members of the eligible entity involved and that are shared by the members may be included in determining compliance with subsection (a).CommentsClose CommentsPermalink





(2) LIMITATION-CommentsClose CommentsPermalink





(A) IN GENERAL- An eligible entity may not include in-kind contributions in complying with the requirement of subsection (a).CommentsClose CommentsPermalink





(B) CONSIDERATION- The Secretary may consider donations described in subparagraph (A) in ranking applications.CommentsClose CommentsPermalink

SEC. 305. LIMIT ON ADMINISTRATIVE EXPENSES.

The Secretary may use not more than 5 percent of the amounts made available to carry out this title to pay the Federal administrative costs associated with awarding grants under this title.CommentsClose CommentsPermalink

SEC. 306. AUTHORIZATION OF APPROPRIATIONS.

There are authorized to be appropriated to carry out this title--CommentsClose CommentsPermalink





(1) $50,000,000 for each of fiscal years 2012 through 2016; andCommentsClose CommentsPermalink





(2) such sums as are necessary for each fiscal year thereafter.CommentsClose CommentsPermalink

TITLE IV--FEDERAL INVESTMENT TO EXPAND BROADBAND ACCESSCommentsClose CommentsPermalink

SEC. 401. ADDITIONAL AUTHORIZATION OF APPROPRIATIONS TO EXTEND ACCESS TO BROADBAND TELECOMMUNICATIONS SERVICES IN RURAL AREAS.

Section 601(k)(1) of the Rural Electrification Act of 1936 (7 U.S.C. 950bb) is amended by striking ‘2012’ and inserting ‘2017’.CommentsClose CommentsPermalink

TITLE V--BUILD AMERICA BONDS TO CREATE JOBS NOWCommentsClose CommentsPermalink

SEC. 501. SHORT TITLE.

This title may be cited as the ‘Build America Bonds to Create Jobs Now Act of 2011’.CommentsClose CommentsPermalink

SEC. 502. EXTENSION OF BUILD AMERICA BONDS.

(a) In General- Subparagraph (B) of section 54AA(d)(1) of the Internal Revenue Code of 1986 is amended by inserting ‘or during the period beginning on the date of the enactment of the Build America Bonds to Create Jobs Now Act of 2011 and ending on December 31, 2012,’ after ‘January 1, 2011,’.CommentsClose CommentsPermalink





(b) Extension of Payments to Issuers-CommentsClose CommentsPermalink





(1) IN GENERAL- Section 6431 of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink





(A) by inserting ‘or during the period beginning on the date of the enactment of the Build America Bonds to Create Jobs Now Act of 2011 and ending on December 31, 2012,’ after ‘January 1, 2011,’ in subsection (a), andCommentsClose CommentsPermalink





(B) by striking ‘before January 1, 2011’ in subsection (f)(1)(B) and inserting ‘during a particular period’.CommentsClose CommentsPermalink





(2) CONFORMING AMENDMENTS- Subsection (g) of section 54AA of such Code is amended--CommentsClose CommentsPermalink





(A) by inserting ‘or during the period beginning on the date of the enactment of the Build America Bonds to Create Jobs Now Act of 2011 and ending on December 31, 2012,’ after ‘January 1, 2011,’, andCommentsClose CommentsPermalink





(B) by striking ‘Qualified Bonds Issued Before 2011’ in the heading and inserting ‘Certain Qualified Bonds’.CommentsClose CommentsPermalink





(c) Reduction in Percentage of Payments to Issuers- Subsection (b) of section 6431 of the Internal Revenue Code of 1986 is amended--CommentsClose CommentsPermalink





(1) by striking ‘The Secretary’ and inserting the following:CommentsClose CommentsPermalink





‘(1) IN GENERAL- The Secretary’,CommentsClose CommentsPermalink





(2) by striking ‘35 percent’ and inserting ‘the applicable percentage’, andCommentsClose CommentsPermalink





(3) by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(2) APPLICABLE PERCENTAGE- For purposes of this subsection, the term ‘applicable percentage’ means the percentage determined in accordance with the following table:CommentsClose CommentsPermalink

-------------------------------------------------------------------------------- CommentsClose CommentsPermalink

‘In the case of a qualified bond issued during calendar year: The applicable percentage is: CommentsClose CommentsPermalink

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2009 or 2010                                                                     35 percent CommentsClose CommentsPermalink

2011                                                                             32 percent CommentsClose CommentsPermalink

2012                                                                          31 percent.’. CommentsClose CommentsPermalink

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(d) Current Refundings Permitted- Subsection (g) of section 54AA of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(3) TREATMENT OF CURRENT REFUNDING BONDS-CommentsClose CommentsPermalink





‘(A) IN GENERAL- For purposes of this subsection, the term ‘qualified bond’ includes any bond (or series of bonds) issued to refund a qualified bond if--CommentsClose CommentsPermalink





‘(i) the average maturity date of the issue of which the refunding bond is a part is not later than the average maturity date of the bonds to be refunded by such issue,CommentsClose CommentsPermalink





‘(ii) the amount of the refunding bond does not exceed the outstanding amount of the refunded bond, andCommentsClose CommentsPermalink





‘(iii) the refunded bond is redeemed not later than 90 days after the date of the issuance of the refunding bond.CommentsClose CommentsPermalink





‘(B) APPLICABLE PERCENTAGE- In the case of a refunding bond referred to in subparagraph (A), the applicable percentage with respect to such bond under section 6431(b) shall be the lowest percentage specified in paragraph (2) of such section.CommentsClose CommentsPermalink





‘(C) DETERMINATION OF AVERAGE MATURITY- For purposes of subparagraph (A)(i), average maturity shall be determined in accordance with section 147(b)(2)(A).’.CommentsClose CommentsPermalink





(e) Clarification Related to Levees and Flood Control Projects- Subparagraph (A) of section 54AA(g)(2) of the Internal Revenue Code of 1986 is amended by inserting ‘(including capital expenditures for levees and other flood control projects)’ after ‘capital expenditures’.CommentsClose CommentsPermalink