Page:United States Statutes at Large Volume 112 Part 1.djvu/277

 PUBLIC LAW 105-178—JUNE 9, 1998 112 STAT. 251 "186. State and local permits. "187. Regulations. "188. Funding. "189. Report to Congress."; and (2) by inserting before section 101 the following: "SUBCHAPTER I—GENERAL PROVISIONS". SEC. 1504. DUTIES OF THE SECRETARY. Section 301 of title 49, United States Code, is amended— (1) in paragraph (7) by striking "and" at the end; (2) in paragraph (8) by striking the period at the end and inserting "; and"; and (3) by adding at the end the following: "(9) develop and coordinate Federal policy on financing transportation infrastructure, including the provision of direct Federal credit assistance and other techniques used to leverage Federal transportation funds.". CHAPTER 2—STATE INFRASTRUCTURE BANK PILOT PROGRAM SEC. 1511. STATE INFRASTRUCTURE BANK PILOT PROGRAM. 23 USC 181 note. (a) DEFINITIONS.— In this section: (1) OTHER ASSISTANCE.— The term "other 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 ensure the issuance of letters of credit and credit instruments; (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 the assistance is being provided. (2) STATE. —The term "State" has the meaning given the term under section 401 of title 23, United States Code. (b) COOPERATIVE AGREEMENTS.— (1) IN GENERAL.— (A) PURPOSE OF AGREEMENTS.— Subject to this section, the Secretary may enter into cooperative agreements with the States of California, Florida, Missouri, and Rhode Island for the establishment of State infrastructure banks and multistate infrastructure banks for making loans and providing other assistance to public and private entities carrying out or proposing to carry out projects eligible for assistance under this section. (B) CONTENTS OF AGREEMENTS.— Each cooperative agreement shall specify procedures and guidelines for establishing, operating, and providing assistance from the infrastructure bank.

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