[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6964 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 6964

 To establish limitations on advanced payments for bus rolling stock, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 11, 2024

 Mrs. Fischbach (for herself, Mr. Stauber, Mr. Rogers of Alabama, and 
  Ms. Craig) introduced the following bill; which was referred to the 
             Committee on Transportation and Infrastructure

_______________________________________________________________________

                                 A BILL


 
 To establish limitations on advanced payments for bus rolling stock, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LIMITATIONS ON ADVANCED PAYMENTS FOR BUS ROLLING STOCK.

    Section 5323 of title 49, United States Code, is amended by adding 
at the end the following:
    ``(w) Limitations on Advanced Payments for Bus Rolling Stock.--
            ``(1) In general.--Notwithstanding any provision of this 
        chapter or part 200 of title 2, Code of Federal Regulations, or 
        any successor regulation, a recipient may use assistance made 
        available under this chapter to make an advance payment on a 
        bus rolling stock vehicle without the transit vehicle 
        manufacturer obtaining a performance bond or similar financial 
        arrangement.
            ``(2) Limitations.-- A recipient making an advance payment 
        under paragraph (1)--
                    ``(A) shall have--
                            ``(i) a signed purchase order and executed 
                        contract with a transit vehicle manufacturer 
                        that includes advance payment provisions;
                            ``(ii) preaward authority; and
                            ``(iii) met the requirements under 
                        subsection (m) and section 5318(e) of this 
                        title; and
                    ``(B) shall not provide an advanced payment that is 
                more than 20 percent of the total purchase order 
                value.''.
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