SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Environmental Finance Act of 1993''.

SEC. 2. PURPOSE.

    (a) It is the purpose of this Act to require the establishment of 
an Environmental Financial Advisory Board (hereinafter referred to as 
``the Board'') to provide expert advice and recommendations to the 
Administrator of the Environmental Protection Agency (hereinafter 
referred to as ``the Administrator'') and to the Congress on issues, 
trends, options, innovations, and tax matters affecting the cost and 
financing of environmental protection by State and local governments. 
The Committee shall study methods to lower costs of environmental 
infrastructure and services, increase investment in public and private 
purpose environmental infrastructure, and build State and local 
capacity to plan and pay for environmental infrastructure and services.
    (b) It is the further purpose of the Act to require the 
Administrator to establish and support Environmental Finance Centers in 
institutions of higher learning. These centers shall serve to improve 
the capability of State and local governments to manage environmental 
programs. The Environmental Finance Centers shall receive Federal 
funding at first with the goal that they eventually become financially 
self sufficient.

SEC. 3. ENVIRONMENTAL FINANCIAL ADVISORY BOARD.

    (a) In General.--
            (1) The Administrator shall establish an Environmental 
        Financial Advisory Board to provide expert advice on issues 
        affecting the costs and financing of environmental activities 
        at the Federal, State, and local level. The Board shall report 
        to the Administrator, and shall make its services and expertise 
        available to the appropriate Committees of Congress.
            (2) The Board shall consist of thirty-five members selected 
        by the Administrator. The members of the Board shall each serve 
        for a term of two years, except that twenty of the members 
        initially appointed to the Board shall serve for a term of one 
        year. The members of the Board shall be persons with expertise 
        in financial matters and shall be chosen from among elected 
        officials, national trade and environmental organizations, the 
        finance, banking, and legal communities, business and industry, 
        and academia. The members of the Board shall elect a Chair and 
        Vice-Chair, who shall each serve a term of two years.
            (3) After establishing appropriate rules and procedures for 
        its operations, the Board shall--
                    (A) work with the Environmental Protection Agency's 
                Science Advisory Board to identify and develop methods 
                to integrate risk and finance considerations into 
                environmental decisionmaking;
                    (B) identify and examine strategies to enhance 
                environmental protection in urban areas, reduce 
                disproportionate risk facing urban communities, and 
                promote economic revitalization and environmentally 
                sustainable development;
                    (C) develop and recommend initiatives to expand 
                opportunities for the export of United States financial 
                services and environmental technologies;
                    (D) develop alternative financing mechanisms to 
                assist State and local governments in paying for 
                environmental programs;
                    (E) develop alternative financing mechanisms and 
                strategies to meet the unique needs of small and 
                economically disadvantaged communities; and
                    (F) undertake such other activities as the Board 
                determines will further the purposes of this Act.
            (4) The Board may recommend to the Administrator and to the 
        Congress legislative and policy initiatives to make financing 
        for environmental protection more available and less costly.
            (5) The Board shall hold open meetings and seek input from 
        the public and other interested parties in accordance with 
        provisions of the Federal Advisory Committee Act (5 U.S.C. 
        Supp., App.), and shall otherwise be subject to the provisions 
        of such Act.
    (b) Authorization of Appropriations.--There is authorized to be 
appropriated the sum of $1,000,000 for each of the fiscal years 1994, 
1995, 1996, 1997, and 1998 to carry out this section.

SEC. 4. ENVIRONMENTAL FINANCE CENTERS.

    (a) In General.--The Administrator shall establish and support 
Environmental Finance Centers in each of the ten Federal regions. These 
centers shall coordinate their activities with the Board, and are 
authorized to--
            (1) provide on- and off-site training of State and local 
        officials;
            (2) publish newsletters, course materials, proceedings, and 
        other publications relating to financing of environmental 
        infrastructure;
            (3) initiate and conduct conferences, seminars, and 
        advisory panels on specific finance issues relating to 
        environmental programs and projects;
            (4) establish electronic database and contact services to 
        disseminate information to public entities on financing 
        alternatives for State and local environmental programs;
            (5) generate case studies and special reports;
            (6) develop inventories and surveys of financial issues and 
        needs of State and local governments;
            (7) identify financial programs, initiatives, and 
        alternative financing mechanisms for training purposes;
            (8) hold public meetings on finance issues; and
            (9) collaborate with one another on projects and exchange 
        information.
    (b) Authorization of Appropriations.--There is authorized to be 
appropriated the sum of $2,500,000 for each of the fiscal years 1994, 
1995, 1996, 1997, and 1998 for the Environmental Finance Center program 
established pursuant to this section. The Administrator is authorized 
to grant such funds to institutions of higher learning to carry out the 
provisions of this section.
Environmental Finance Act of 1993 - Directs the Administrator of the Environmental Protection Agency to establish:  (1) an Environmental Financial Advisory Board to provide expert advice on issues affecting the costs and financing of environmental activities at the Federal, State, and local levels; and (2) Environmental Finance Centers in each of the ten Federal regions. 
Authorizes the Centers to:  (1) provide training of State and local officials; (2) publish materials relating to financing of environmental infrastructure; (3) conduct conferences and advisory panels on specific environmental finance issues; (4) establish information services; (5) generate case studies and reports; (6) develop surveys of financial issues and needs of State and local governments; (7) identify financial programs and alternative financial mechanisms for training purposes; (8) hold public meetings; and (9) collaborate and exchange information. 
Authorizes appropriations.
Environmental Finance Act of 1993