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23 U.S.C. § 610 — State infrastructure bank program
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions.—** In this section, the following definitions apply:
(1) **Capital project.—** — The term “capital project” has the meaning such term has under [section 5302 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section5302&num=0&edition=prelim).
(2) **Other forms of credit assistance.—** — The term “other forms of credit assistance” includes any use of funds in an infrastructure bank—
(A) to provide credit enhancements;
(B) to serve as a capital reserve for bond or debt instrument financing;
(C) to subsidize interest rates;
(D) to insure or guarantee letters of credit and credit instruments against credit risk of loss;
(E) to finance purchase and lease agreements with respect to transit projects;
(F) to provide bond or debt financing instrument security; and
(G) to provide other forms of debt financing and methods of leveraging funds that are approved by the Secretary and that relate to the project with respect to which such assistance is being provided.
(3) **State.—** — The term “State” has the meaning such term has under section 401.
(4) **Capitalization.—** — The term “capitalization” means the process used for depositing funds as initial capital into a State infrastructure bank to establish the infrastructure bank.
(5) **Cooperative agreement.—** — The term “cooperative agreement” means written consent between a State and the Secretary which sets forth the manner in which the infrastructure bank established by the State in accordance with this section will be administered.
(6) **Loan.—** — The term “loan” means any form of direct financial assistance from a State infrastructure bank that is required to be repaid over a period of time and that is provided to a project sponsor for all or part
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Source location: Title 23, Chapter 6, § 610; chapter-006-infrastructure-finance.md
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**(a) Definitions.—** In this section, the following definitions apply:
(1) **Capital project.—** — The term “capital project” has the meaning such term has under [section 5302 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section5302&num=0&edition=prelim).
(2) **Other forms of credit assistance.—** — The term “other forms of credit assistance” includes any use of funds in an infrastructure bank—
(A) to provide credit enhancements;
(B) to serve as a capital reserve for bond or debt instrument financing;
(C) to subsidize interest rates;
(D) to insure or guarantee letters of credit and credit instruments against credit risk of loss;
(E) to finance purchase and lease agreements with respect to transit projects;
(F) to provide bond or debt financing instrument security; and
(G) to provide other forms of debt financing and methods of leveraging funds that are approved by the Secretary and that relate to the project with respect to which such assistance is being provided.
(3) **State.—** — The term “State” has the meaning such term has under section 401.
(4) **Capitalization.—** — The term “capitalization” means the process used for depositing funds as initial capital into a State infrastructure bank to establish the infrastructure bank.
(5) **Cooperative agreement.—** — The term “cooperative agreement” means written consent between a State and the Secretary which sets forth the manner in which the infrastructure bank established by the State in accordance with this section will be administered.
(6) **Loan.—** — The term “loan” means any form of direct financial assistance from a State infrastructure bank that is required to be repaid over a period of time and that is provided to a project sponsor for all or part of the costs of the project.
(7) **Guarantee.—** — The term “guarantee” means a contract entered into by a State infrastructure bank in which the bank agrees to take responsibility for all or a portion of a project sponsor’s financial obligations for a project under specified conditions.
(8) **Initial assistance.—** — The term “initial assistance” means the first round of funds that are loaned or used for credit enhancement by a State infrastructure bank for projects eligible for assistance under this section.
(9) **Leverage.—** — The term “leverage” means a financial structure used to increase funds in a State infrastructure bank through the issuance of debt instruments.
(10) **Leveraged.—** — The term “leveraged”, as used with respect to a State infrastructure bank, means that the bank has total potential liabilities that exceed the capital of the bank.
(11) **Rural infrastructure project.—** — The term “rural infrastructure project” has the meaning given the term in section 601.
(12) **Rural projects fund.—** — The term “rural projects fund” has the meaning given the term in section 601.
**(b) Cooperative Agreements.—** Subject to the provisions of this section, the Secretary may enter into cooperative agreements with States for the establishment of State infrastructure banks for making loans and providing other forms of credit assistance to public and private entities carrying out or proposing to carry out projects eligible for assistance under this section.
**(c) Interstate Compacts.—**
(1) **In general.—** — Congress grants consent to two or more of the States, entering into a cooperative agreement under subsection (a) with the Secretary for the establishment by such States of a multistate infrastructure bank in accordance with this section, to enter into an interstate compact establishing such bank in accordance with this section.
(2) **Reservation of rights.—** — The right to alter, amend, or repeal interstate compacts entered into under this subsection is expressly reserved.
**(d) Funding.—**
(1) **Highway account.—** — Subject to subsection (j), the Secretary may permit a State entering into a cooperative agreement under this section to establish a State infrastructure bank to deposit into the highway account of the bank not to exceed—
(A) 10 percent of the funds apportioned to the State for each of fiscal years 2022 through 2026 under each of paragraphs (1), (2), and (5) of section 104(b); and
(B) 10 percent of the funds allocated to the State for each of such fiscal years.
(2) **Transit account.—** — Subject to subsection (j), the Secretary may permit a State entering into a cooperative agreement under this section to establish a State infrastructure bank, and any other recipient of Federal assistance under section 5307, 5309, or 5311 of title 49, to deposit into the transit account of the bank not to exceed 10 percent of the funds made available to the State or other recipient in each of fiscal years 2022 through 2026 for capital projects under each of such sections.
(3) **Rail account.—** — Subject to subsection (j), the Secretary may permit a State entering into a cooperative agreement under this section to establish a State infrastructure bank, and any other recipient of Federal assistance under subtitle V of title 49, to deposit into the rail account of the bank funds made available to the State or other recipient in each of fiscal years 2022 through 2026 for capital projects under such subtitle.
(4) **Rural projects fund.—** — Subject to subsection (j), the Secretary may permit a State entering into a cooperative agreement under this section to establish a State infrastructure bank to deposit into the rural projects fund of the bank the proceeds of a secured loan made to the bank in accordance with sections 602 and 603.
(5) **Capital grants.—**
(A) *Highway account.—* — Federal funds deposited into a highway account of a State infrastructure bank under paragraph (1) shall constitute for purposes of this section a capitalization grant for the highway account of the bank.
(B) *Transit account.—* — Federal funds deposited into a transit account of a State infrastructure bank under paragraph (2) shall constitute for purposes of this section a capitalization grant for the transit account of the bank.
(C) *Rail account.—* — Federal funds deposited into a rail account of a State infrastructure bank under paragraph 3 shall constitute for purposes of this section a capitalization grant for the rail account of the bank.
(6) **Special rule for urbanized areas of over 200,000.—** — Funds in a State infrastructure bank that are attributed to urbanized areas of a State with urbanized populations of over 200,000 under section 133(d)(1)(A)(i) may be used to provide assistance with respect to a project only if the metropolitan planning organization designated for such area concurs, in writing, with the provision of such assistance.
(7) **Discontinuance of funding.—** — If the Secretary determines that a State is not implementing the State’s infrastructure bank in accordance with a cooperative agreement entered into under subsection (b), the Secretary may prohibit the State from contributing additional Federal funds to the bank.
**(e) Forms of Assistance From State Infrastructure Banks.—**
(1) **In general.—** — A State infrastructure bank established under this section may—
(A) with funds deposited into the highway account, transit account, or rail account of the bank, make loans or provide other forms of credit assistance to a public or private entity to carry out a project eligible for assistance under this section; and
(B) with funds deposited into the rural projects fund, make loans to a public or private entity to carry out a rural infrastructure project.
(2) **Subordination of loan.—** — The amount of a loan or other form of credit assistance provided for a project described in paragraph (1) may be subordinated to any other debt financing for the project.
(3) **Maximum amount of assistance.—** — A State infrastructure bank established under this section may—
(A) with funds deposited into the highway account, transit account, or rail account of the bank, make loans or provide other forms of credit assistance to a public or private entity in an amount up to 100 percent of the cost of carrying out a project eligible for assistance under this section; and
(B) with funds deposited into the rural projects fund, make loans to a public or private entity in an amount not to exceed 80 percent of the cost of carrying out a rural infrastructure project.
(4) **Initial assistance.—** — Initial assistance provided with respect to a project from Federal funds deposited into a State infrastructure bank under this section may not be made in the form of a grant.
**(f) Eligible Projects.—** Subject to subsection (e), funds in an infrastructure bank established under this section may be used only to provide assistance for projects eligible for assistance under this title and capital projects defined in [section 5302 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section5302&num=0&edition=prelim), and any other projects relating to surface transportation that the Secretary determines to be appropriate.
**(g) Infrastructure Bank Requirements.—** In order to establish an infrastructure bank under this section, the State establishing the bank shall—
(1) deposit in cash, at a minimum, into the highway account, the transit account, and the rail account of the bank from non-Federal sources an amount equal to 25 percent of the amount of each capitalization grant made to the State and deposited into such account; except that, if the deposit is into the highway account of the bank and the State has a non-Federal share under section 120(b) that is less than 25 percent, the percentage to be deposited from non-Federal sources shall be the lower percentage of such grant;
(2) ensure that the bank maintains on a continuing basis an investment grade rating on its debt, or has a sufficient level of bond or debt financing instrument insurance, to maintain the viability of the bank;
(3) ensure that investment income derived from funds deposited to an account of the bank are—
(A) credited to the account;
(B) available for use in providing loans and other forms of credit assistance to projects eligible for assistance from the account; and
(C) invested in United States Treasury securities, bank deposits, or such other financing instruments as the Secretary may approve to earn interest to enhance the leveraging of projects assisted by the bank;
(4) ensure that any loan from the bank will bear interest at or below market interest rates, as determined by the State, to make the project that is the subject of the loan feasible, except that any loan funded from the rural projects fund of the bank shall bear interest at or below the interest rate charged for the TIFIA loan provided to the bank under section 603;
(5) ensure that repayment of any loan from the bank will commence not later than 5 years after the project has been completed or, in the case of a highway project, the facility has opened to traffic, whichever is later;
(6) ensure that the term for repaying any loan will not exceed 30 years after the date of the first payment on the loan; and
(7) require the bank to make an annual report to the Secretary on its status no later than September 30 of each year and such other reports as the Secretary may require under guidelines issued to carry out this section.
**(h) Applicability of Federal Law.—**
(1) **In general.—** — The requirements of this title and title 49 that would otherwise apply to funds made available under this title or such title and projects assisted with those funds shall apply to—
(A) funds made available under this title or such title and contributed to an infrastructure bank established under this section, including the non-Federal contribution required under subsection (g); and
(B) projects assisted by the bank through the use of the funds,
except to the extent that the Secretary determines that any requirement of such title (other than sections 113 and 114 of this title and [section 5333 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section5333&num=0&edition=prelim)) is not consistent with the objectives of this section.
(2) **Repayments.—** — The requirements of this title and title 49 shall apply to repayments from non-Federal sources to an infrastructure bank from projects assisted by the bank. Such a repayment shall be considered to be Federal funds.
**(i) United States not Obligated.—** The deposit of Federal funds into an infrastructure bank established under this section shall not be construed as a commitment, guarantee, or obligation on the part of the United States to any third party, nor shall any third party have any right against the United States for payment solely by virtue of the contribution. Any security or debt-financing instrument issued by the infrastructure bank shall expressly state that the security or instrument does not constitute a commitment, guarantee, or obligation of the United States.
**(j) Management of Federal Funds.—** Sections 3335 and 6503 of title 31 shall not apply to funds deposited into an infrastructure bank under this section.
**(k) Program Administration.—** For each of fiscal years 2022 through 2026, a State may expend not to exceed 2 percent of the Federal funds contributed to an infrastructure bank established by the State under this section to pay the reasonable costs of administering the bank.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Prevailing Wages Requirement.—** The Secretary of Transportation shall ensure that laborers and mechanics employed by contractors and subcontractors in construction work financed with a grant or loan under this chapter be paid wages not less than those prevailing on similar construction in the locality, as determined by the Secretary of Labor under sections 3141 through 3144, 3146, and 3147 of title 40. The Secretary of Transportation may approve a grant or loan only after being assured that required labor standards will be maintained on the construction work. For a labor standard under this subsection, the Secretary of Labor has the same duties and powers stated in Reorganization Plan No. 14 of 1950 (eff. May 24, 1950, 64 Stat. 1267) and [section 3145 of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section3145&num=0&edition=prelim).
**(b) Employee Protective Arrangements.—**
(1) As a condition of financial assistance under sections 5307–5312, 5316,11 See References in Text note below. 5318, 5323(a)(1), 5323(b), 5323(d), 5328,1 5337, and 5338(b) of this title, the interests of employees affected by the assistance shall be protected under arrangements the Secretary of Labor concludes are fair and equitable. The agreement granting the assistance under sections 5307–5312, 5316,1 5318, 5323(a)(1), 5323(b), 5323(d), 5328,1 5337, and 5338(b) shall specify the arrangements.
(2) Arrangements under this subsection shall include provisions that may be necessary for—
(A) the preservation of rights, privileges, and benefits (including continuation of pension rights and benefits) under existing collective bargaining agreements or otherwise;
(B) the continuation of collective bargaining rights;
(C) the protection of individual emplo
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Federal law — U.S. Code and appendices · legal_authorities
Except as otherwise specifically provided, in this chapter the following definitions apply:
(1) **Assault on a transit worker.—** — The term “assault on a transit worker” means a circumstance in which an individual knowingly, without lawful authority or permission, and with intent to endanger the safety of any individual, or with a reckless disregard for the safety of human life, interferes with, disables, or incapacitates a transit worker while the transit worker is performing the duties of the transit worker.
(2) **Associated transit improvement.—** — The term “associated transit improvement” means, with respect to any project or an area to be served by a project, projects that are designed to enhance public transportation service or use and that are physically or functionally related to transit facilities. Eligible projects are—
(A) historic preservation, rehabilitation, and operation of historic public transportation buildings, structures, and facilities (including historic bus and railroad facilities) intended for use in public transportation service;
(B) bus shelters;
(C) functional landscaping and streetscaping, including benches, trash receptacles, and street lights;
(D) pedestrian access and walkways;
(E) bicycle access, including bicycle storage shelters and parking facilities and the installation of equipment for transporting bicycles on public transportation vehicles;
(F) signage; or
(G) enhanced access for persons with disabilities to public transportation.
(3) **Bus rapid transit system.—** — The term “bus rapid transit system” means a bus transit system—
(A) in which the majority of each line operates in a separated right-of-way dedicated for public transportation use during peak periods; and
(B) that includes features that e
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Federal law — U.S. Code and appendices · legal_authorities
Level II of the Executive Schedule applies to the following positions, for which the annual rate of basic pay shall be the rate determined with respect to such level under chapter 11 of title 2, as adjusted by [section 5318 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section5318&num=0&edition=prelim):
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions.—** In this title, the following definitions apply:
(1) **Apportionment.—** — The term “apportionment” includes unexpended apportionments made under prior authorization laws.
(2) **Asset management.—** — The term “asset management” means a strategic and systematic process of operating, maintaining, and improving physical assets, with a focus on both engineering and economic analysis based upon quality information, to identify a structured sequence of maintenance, preservation, repair, rehabilitation, and replacement actions that will achieve and sustain a desired state of good repair over the lifecycle of the assets at minimum practicable cost.
(3) **Carpool project.—** — The term “carpool project” means any project to encourage the use of carpools and vanpools, including provision of carpooling opportunities to the elderly and individuals with disabilities, systems for locating potential riders and informing them of carpool opportunities, acquiring vehicles for carpool use, designating existing highway lanes as preferential carpool highway lanes, providing related traffic control devices, designating existing facilities for use for preferential parking for carpools, and real-time ridesharing projects, such as projects where drivers, using an electronic transfer of funds, recover costs directly associated with the trip provided through the use of location technology to quantify those direct costs, subject to the condition that the cost recovered does not exceed the cost of the trip provided.
(4) **Construction.—** — The term “construction” means the supervising, inspecting, actual building, and incurrence of all costs incidental to the construction or reconstruction of a highway or any project eligible for assistance under this title, including bon
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Federal law — U.S. Code and appendices · legal_authorities
Page 492
TITLE 23—HIGHWAYS
§ 610
(A) on a monthly basis, a current status
report on all submitted letters of interest
and applications received for assistance
under the TIFIA program; and
(B) on a quarterly basis, a current status
report on all approved applications for as-
sistance under the TIFIA program.
(2) INCLUSIONS.—Each monthly and quarterly
status report under paragraph (1) shall in-
clude, at a minimum, with respect to each
project included in the status report—
(A) the name of the party submitting the
letter of interest or application;
(B) the name of the project;
(C) the date on which the letter of interest
or application was received;
(D) the estimated project eligible costs;
(E) the type of credit assistance sought;
and
(F) the anticipated fiscal year and quarter
for closing of the credit assistance.
(Added Pub. L. 105–178, title I, § 1503(a), June 9,
1998, 112 Stat. 250, § 189; renumbered § 609 and
amended Pub. L. 109–59, title I, §§ 1601(h), 1602(d),
Aug. 10, 2005, 119 Stat. 1242, 1247; Pub. L. 112–141,
div. A, title II, § 2002, July 6, 2012, 126 Stat. 621;
Pub. L. 114–94, div. A, title II, § 2001(h), Dec. 4,
2015, 129 Stat. 1444; Pub. L. 117–58, div. A, title II,
§ 12001(j), Nov. 15, 2021, 135 Stat. 621.)
Editorial Notes
AMENDMENTS
2021—Subsec. (c). Pub. L. 117–58 added subsec. (c).
2015—Pub. L. 114–94 substituted ‘‘the TIFIA program’’
for ‘‘this chapter (other than section 610)’’ wherever ap-
pearing.
2012—Pub. L. 112–141 amended section generally. Prior
to amendment, section read as follows: ‘‘On June 1,
2006, and every 2 years thereafter, the Secretary shall
submit to Congress a report summarizing the financial
performance of the projects that are receiving, or have
received, assistance under this chapter (other than
Source: Supplied 2024 U.S. Code historical extraction · 23 U.S.C. § 610
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