Sec. 244. Definitions
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For purposes of this Act, the following definitions shall apply: The term AIFA means the American Infrastructure Financing Authority established under this Act. 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. The term Board of Directors means Board of Directors of AIFA. The term Chairperson means the Chairperson of the Board of Directors of AIFA.
The term chief executive officer means the chief executive officer of AIFA, appointed under section 247. The term cost has the same meaning as in section 502 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a ). The term direct loan has the same meaning as in section 502 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a ). 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.
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. The term transportation infrastructure project means the construction, alteration, or repair, including the facilitation of intermodal transit, of the following subsectors: Highway or road. Bridge. Mass transit. Inland waterways. Commercial ports. Airports. Air traffic control systems.
Passenger rail, including high-speed rail. Freight rail systems. The term water infrastructure project means the construction, consolidation, alteration, or repair of the following subsectors: Waterwaste treatment facility. Storm water management system. Dam. Solid waste disposal facility. Drinking water treatment facility. Levee. Open space management system. The term energy infrastructure project means the construction, alteration, or repair of the following subsectors: Pollution reduced energy generation.
Transmission and distribution. Storage. Energy efficiency enhancements for buildings, including public and commercial buildings. 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. The term investment prospectus means the processes and publications described below that will guide the priorities and strategic focus for AIFA’s investments.
The investment prospectus shall follow rulemaking procedures under section 553 of title 5, United States Code. AIFA 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— specify what AIFA shall consider significant to the economic competitiveness of the United States or a region thereof in a manner consistent with the primary objective; specify the priorities and strategic focus of AIFA in forwarding its strategic objectives and carrying out AIFA strategy; specify the priorities and strategic focus of AIFA in promoting greater efficiency in the movement of freight; specify the priorities and strategic focus of AIFA in promoting the use of innovation and best practices in the planning, design, development and delivery of projects; 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; 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; and describe how the qualification score and range methodology and project selection framework are consistent with maximizing AIFA goals in both urban and rural areas.
The investment prospectus and any subsequent updates thereto shall be approved by a majority vote of the Board of Directors prior to publication. AIFA shall update the investment prospectus on every biennial anniversary of its original publication. The term investment-grade rating means a rating of BBB minus, Baa3, or higher assigned to an infrastructure project by a ratings agency. The term loan guarantee has the same meaning as in section 502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a).
The term public-private partnership means any eligible entity— 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; or the activities of which, with respect to such an infrastructure project, are subject to regulation by a State or any instrumentality of a State; which owns, leases, or operates or will own, lease, or operate, the project in whole or in part; and the participants in which include not fewer than 1 nongovernmental entity with significant investment and some control over the project or project vehicle.
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 ( 7 U.S.C. 1991(a)(13)(A) ). Unless the context otherwise requires, the term Secretary means the Secretary of the Treasury or the designee thereof. 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.
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.
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