Sec. 3. Definitions
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/bill/113/s/1716/is/section-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In 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 the Board of Directors of IFA. The term Chairperson means the Chairperson of the Board of Directors of IFA. The term chief executive officer means the chief executive officer of IFA, appointed under section 103. The term cost has the meaning given the term in section 502 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a ).
The term direct loan has the meaning given the term in section 502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a). The term eligible entity means— an individual; a corporation; a partnership, including a public-private partnership; a joint venture; a trust; a State or any other governmental entity, including a political subdivision or any other instrumentality of a State; or a revolving fund. The term eligible infrastructure project means the construction, consolidation, alteration, or repair of the following sectors:
Intercity passenger or freight rail lines. Intercity passenger rail facilities or equipment. Intercity freight rail facilities or equipment. Intercity passenger bus facilities or equipment. Public transportation facilities or equipment. Highway facilities, including bridges and tunnels. Airports. Air traffic control systems. Port or marine terminal facilities, including approaches to marine terminal facilities or inland port facilities. Port or marine equipment, including fixed equipment to serve approaches to marine terminals or inland ports.
Transmission or distribution pipelines. Inland waterways. Intermodal facilities or equipment related to 2 or more of the sectors described in clauses
(i)through (xii). Water treatment and solid waste disposal facilities, including drinking water facilities. Storm water management systems. Dams and levees. Facilities or equipment for energy transmission, distribution or storage. The Board of Directors may make modifications, at the discretion of the Board, to any of the sectors described in subparagraph
(A)by a vote of not fewer than 5 of the voting members of the Board of Directors. The term IFA means the Infrastructure Financing Authority established by this Act. The term investment-grade rating means a rating of BBB minus, Baa3, or higher assigned to an eligible infrastructure project by a ratings agency. The term loan guarantee has the meaning given the term 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— that is undertaking the development of all or part of an eligible infrastructure project that will have a measurable public benefit, pursuant to requirements established in 1 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 eligible infrastructure project, are subject to regulation by a State or any instrumentality of a State; that 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 entity sponsoring the project vehicle. The term rating agency means a credit rating agency registered with the Securities and Exchange Commission as a nationally recognized statistical rating organization (as defined in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) )). The term rural infrastructure project — has the same meaning given the term in section 601(15) of title 23, United States Code; and includes any eligible infrastructure project located in an area described in such section 601(15). The term Secretary means the Secretary of the Treasury or the designee of the Secretary of the Treasury. 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 IFA, and such other officers as the Board of Directors may, by majority vote, add to senior management. The term State means— each of the several States of the United States; and the District of Columbia.
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