Page:United States Statutes at Large Volume 112 Part 1.djvu/278

 112 STAT. 252 PUBLIC LAW 105-178—JUNE 9, 1998 (2) INTERSTATE COMPACTS.— If 2 or more States enter into a cooperative agreement under paragraph (1) with the Secretary for the establishment of a multistate infrastructure bank, Congress grants consent to those States to enter into an interstate compact establishing the bank in accordance with this section. (c) FUNDING.— (1) CONTRIBUTION. —Notwithstanding any other provision of law, the Secretary may allow, subject to subsection (h)(1), a State that enters into a cooperative agreement under this section to contribute to the infrastructure bank established by the State not to exceed— (A)(i) the total amount of funds apportioned to the State under each of paragraphs (1), (3), and (4) of section 104(b) and section 144 of title 23, United States Code, excluding funds set aside under paragraphs (1) and (2) of section 133(d) of such title; and (ii) the total amount of funds allocated to the State under section 105 of such title; (B) the total amount of funds made available to the State or other Federal transit grant recipient for capital projects (as defined in section 5302 of title 49, United States Code) under sections 5307, 5309, and 5311 of such title; and (C) the total amount of funds made available to the State under subtitle V of title 49, United States Code. (2) CAPITALIZATION GRANT. —For the purposes of this section. Federal funds contributed to the infrastructure bank under this subsection shall constitute a capitalization grant for the infrastructure bank. (3) SPECIAL RULE FOR URBANIZED AREAS OF OVER 200,000.— Funds that are apportioned or allocated to a State under section 104(b)(3) of title 23, United States Code, and attributed to urbanized areas of a State with a population of over 200,000 individuals under section 133(d)(2) of such title may be used to provide assistance from an infrastructure bank under this section with respect to a project only if the metropolitan planning organization designated for the area concurs, in writing, with the provision of the assistance. (d) FORMS OF ASSISTANCE FROM INFRASTRUCTURE BANKS. — (1) IN GENERAL.— An infrastructure bank established under this section may make loans or provide other assistance to a public or private entity in an amount equal to all or part of the cost of carrying out a project eligible for assistance under this section. (2) SUBORDINATION OF LOANS.— The amount of any loan or other assistance provided for the project may be subordinated to any other debt financing for the project. (3) INITIAL ASSISTANCE.— Initial assistance provided with respect to a project from Federal funds contributed to an infrastructure bank under this section shall not be made in the form of a grant. (e) QUALIFYING PROJECTS. — (1) IN GENERAL.— Subject to paragraph (2), funds in an infrastructure bank established under this section may be used only to provide assistance with respect to projects eligible for assistance under title 23, United States Code, for capital projects (as defined in section 5302 of title 49, United States

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