Sec. 11209. Regional infrastructure accelerator demonstration program
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The Secretary shall establish a regional infrastructure demonstration program (referred to in this section as the program ) to assist entities in developing improved infrastructure priorities and financing strategies for the accelerated development of a project that is eligible for funding under the TIFIA program under chapter 6 of title 23, United States Code. In carrying out the program, the Secretary may designate regional infrastructure accelerators that will— serve a defined geographic area; and act as a resource in the geographic area to qualified entities in accordance with this section.
To be eligible for a designation under subsection (b), a proposed regional infrastructure accelerator shall submit to the Secretary a proposal at such time, in such manner, and containing such information as the Secretary may require. In evaluating a proposal submitted under subsection (c), the Secretary shall consider— the need for geographic diversity among regional infrastructure accelerators; and the ability of the proposal to promote investment in covered infrastructure projects, which shall include a plan— to evaluate and promote innovative financing methods for local projects, including the use of the TIFIA program under chapter 6 of title 23, United States Code; to build capacity of State, local, and tribal governments to evaluate and structure projects involving the investment of private capital; to provide technical assistance and information on best practices with respect to financing the projects; to increase transparency with respect to infrastructure project analysis and using innovative financing for public infrastructure projects; to deploy predevelopment capital programs designed to facilitate the creation of a pipeline of infrastructure projects available for investment; to bundle smaller-scale and rural projects into larger proposals that may be more attractive for investment; and to reduce transaction costs for public project sponsors.
Not less frequently than once each year, the Secretary shall submit to Congress a report that describes the findings and effectiveness of the program. There is authorized to be appropriated to carry out the program $12,000,000, of which the Secretary shall use— $11,750,000 for initial grants to regional infrastructure accelerators under subsection (b); and $250,000 for administrative costs of carrying out the program.