Sec. 2001. Transportation Infrastructure Finance and Innovation Act of 1998 amendments
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Section 601(a) of title 23, United States Code, is amended— by striking paragraph
(10)and inserting the following: The term master credit agreement means an agreement to extend credit assistance for a program of related projects secured by a common security pledge (which shall receive an investment grade rating from a rating agency prior to the Secretary entering into such master credit agreement), or for a single project covered under section 602(b)(2) that would— make contingent commitments of 1 or more secured loans or other Federal credit instruments at future dates, subject to— the availability of future funds being made available to carry out this chapter; and the satisfaction of all of the conditions for the provision of credit assistance under this chapter, including section 603(b)(1); establish the maximum amounts and general terms and conditions of the secured loans or other Federal credit instruments; identify the 1 or more dedicated non-Federal revenue sources that will secure the repayment of the secured loans or secured Federal credit instruments; provide for the obligation of funds for the secured loans or secured Federal credit instruments after all requirements have been met for the projects subject to the master credit agreement, including— completion of an environmental impact statement or similar analysis required under the National Environmental Policy Act of 1969 ( 42 U.S.C. 4321 et seq. ); compliance with such other requirements as are specified in this chapter, including sections 602(c) and 603(b)(1); and the availability of funds to carry out this chapter; and require that contingent commitments result in a financial close and obligation of credit assistance not later than 3 years after the date of entry into the master credit agreement, or release of the commitment, unless otherwise extended by the Secretary. ; in paragraph (12)— in subparagraph
(C)by striking and at the end; in subparagraph (D)(iv) by striking the period at the end and inserting a semicolon; and by adding at the end the following: a project to improve or construct public infrastructure that is located within walking distance of, and accessible to, a fixed guideway transit facility, passenger rail station, intercity bus station, or intermodal facility, including transportation, public utility, and capital projects described in section 5302(3)(G)(v) of title 49, and related infrastructure; and a project for the acquisition of plant and wildlife habitat pursuant to a conservation plan that— has been approved by the Secretary of the Interior pursuant to section 10 of the Endangered Species Act of 1973 ( 16 U.S.C. 1539 ); and in the judgment of the Secretary, would mitigate the environmental impacts of transportation infrastructure projects otherwise eligible for assistance under this chapter. ; and by striking paragraph
(15)and inserting the following: The term rural infrastructure project means a surface infrastructure project located in an area that is outside of an urbanized area with a population greater than 150,000 individuals, as determined by the Bureau of the Census. . Section 602(a)(5)(B) of title 23, United States Code, is amended— by striking
(B)and inserting the following: Intelligent transportation system projects .—In the case In the case ; and by adding at the end the following: In the case of a project described in section 601(a)(12)(E), eligible project costs shall be reasonably anticipated to be equal to or exceed $10,000,000. . Section 602(b) of title 23, United States Code is amended by striking paragraph
(2)and inserting the following: The Secretary may enter into a master credit agreement for a program of related projects secured by a common security pledge on terms acceptable to the Secretary. If the Secretary fully obligates funding to eligible projects in a fiscal year, and adequate funding is not available to fund a credit instrument, a project sponsor of an eligible project may elect to enter into a master credit agreement and wait to execute a credit instrument until the fiscal year during which additional funds are available to receive credit assistance. . Section 605 of title 23, United States Code, is amended by adding at the end the following: The Secretary shall use not less than $2,000,000 of administrative funding per year in lieu of fees collected under subsection
(b)for projects under this chapter with a total project cost of less than $75,000,000. . Section 608(a)(6) of title 23, United States Code, is amended by striking 0.50 and inserting 0.75 .
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Sec. 2001
Transportation Infrastructure Finance and Innovation Act of 1998 amendments
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