Terms Used In 23 USC 601
- Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(A) contingent on those funds being made available in law at a future date; and
(B) not an obligation of the Federal Government.
(A) development phase activities, including planning, feasibility analysis, revenue forecasting, environmental review, permitting, preliminary engineering and design work, and other preconstruction activities;
(B) construction, reconstruction, rehabilitation, replacement, and acquisition of real property (including land relating to the project and improvements to land), environmental mitigation, construction contingencies, and acquisition of equipment;
(C) capitalized interest necessary to meet market requirements, reasonably required reserve funds, capital issuance expenses, and other carrying costs during construction; and
(D) capitalizing a rural projects fund.
(A) a qualified retirement plan (as defined in section 4974(c) of the Internal Revenue Code of 1986) that is a qualified institutional buyer; and
(B) a governmental plan (as defined in section 414(d) of the Internal Revenue Code of 1986) that is a qualified institutional buyer.
(A) describes the project and the location, purpose, and cost of the project;
(B) outlines the proposed financial plan, including the requested credit assistance and the proposed obligor;
(C) provides a status of environmental review; and
(D) provides information regarding satisfaction of other eligibility requirements of the TIFIA program.
(A)(i) the date on which a project application acceptable to the Secretary is submitted; or
(ii) the date on which the Secretary entered into a master credit agreement; and
(B) the date on which the Secretary executes the Federal credit instrument.
(A) make contingent commitments of 1 or more secured loans or other Federal credit instruments at future dates, subject to–
(i) the availability of future funds being made available to carry out the TIFIA program; and
(ii) the satisfaction of all of the conditions for the provision of credit assistance under the TIFIA program, including section 603(b)(1);
(B) establish the maximum amounts and general terms and conditions of the secured loans or other Federal credit instruments;
(C) identify the 1 or more dedicated non-Federal revenue sources that will secure the repayment of the secured loans or secured Federal credit instruments;
(D) 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–
(i) 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.);
(ii) receiving an investment grade rating from a rating agency;
(iii) compliance with such other requirements as are specified under the TIFIA program, including sections 602(c) and 603(b)(1); and
(iv) the availability of funds to carry out the TIFIA program; and
(E) 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.
(A) is primarily liable for payment of the principal of or interest on a Federal credit instrument; and
(B) may be a corporation, partnership, joint venture, trust, or governmental entity, agency, or instrumentality.
(A) any surface transportation project eligible for Federal assistance under this title or chapter 53 of title 49;
(B) a project for an international bridge or tunnel for which an international entity authorized under Federal or State law is responsible;
(C) a project for intercity passenger bus or rail facilities and vehicles, including facilities and vehicles owned by the National Railroad Passenger Corporation and components of magnetic levitation transportation systems;
(D) a project that–
(i) is a project–
(I) for a public freight rail facility or a private facility providing public benefit for highway users by way of direct freight interchange between highway and rail carriers;
(II) for an intermodal freight transfer facility;
(III) for a means of access to a facility described in subclause (I) or (II);
(IV) for a service improvement for a facility described in subclause (I) or (II) (including a capital investment for an intelligent transportation system); or
(V) that comprises a series of projects described in subclauses (I) through (IV) with the common objective of improving the flow of goods;
(ii) may involve the combining of private and public sector funds, including investment of public funds in private sector facility improvements;
(iii) if located within the boundaries of a port terminal, includes only such surface transportation infrastructure modifications as are necessary to facilitate direct intermodal interchange, transfer, and access into and out of the port; and
(iv) is composed of related highway, surface transportation, transit, rail, or intermodal capital improvement projects eligible for assistance under this section in order to meet the eligible project cost threshold under section 602, by grouping related projects together for that purpose, subject to the condition that the credit assistance for the projects is secured by a common pledge;
(E) 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 a transportation, public utility, or capital project described in section 5302(3)(G)(v) of title 49, and related infrastructure; and
(F) the capitalization of a rural projects fund.
(A) established by a State infrastructure bank in accordance with section 610(d)(4);
(B) capitalized with the proceeds of a secured loan made to the bank in accordance with sections 602 and 603; and
(C) for the purpose of making loans to sponsors of rural infrastructure projects in accordance with section 610.
(A) calculated on a net present value basis; and
(B) excluding administrative costs and any incidental effects on governmental receipts or outlays in accordance with the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.).
(A) the opening of a project to vehicular or passenger traffic; or
(B) a comparable event, as determined by the Secretary and specified in the credit agreement.