Environmental Finance Act of 1995

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Environmental Finance Act of 1995''.

SEC. 2. PURPOSE.

    The purpose of this Act is to require--
            (1)(A) the Administrator of the Environmental Protection 
        Agency to establish an Environmental Financial Advisory Board 
        to provide expert advice and recommendations to Congress and 
        the Administrator on issues, trends, options, innovations, and 
        tax matters affecting the cost and financing of environmental 
        protection by State and local governments; and
            (B) the Board to study methods to--
                    (i) lower costs of environmental infrastructure and 
                services;
                    (ii) increase investment in public and private 
                environmental infrastructure; and
                    (iii) build State and local capacity to plan and 
                pay for environmental infrastructure and services; and
            (2)(A) the Administrator to establish and support 
        Environmental Finance Centers in institutions of higher 
        education;
            (B) the Centers to carry out activities to improve the 
        capability of State and local governments to manage 
        environmental programs; and
            (C) the Administrator to provide Federal funding to the 
        Centers, with a goal that the Centers will eventually become 
        financially self-sufficient.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Administrator.--The term ``Administrator'' means the 
        Administrator of the Environmental Protection Agency.
            (2) Board.--The term ``Board'' means the Environmental 
        Financial Advisory Board established under section 4.
            (3) Center.--The term ``Center'' means an Environmental 
        Finance Center established under section 5.

SEC. 4. ENVIRONMENTAL FINANCIAL ADVISORY BOARD.

    (a) In General.--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 levels. The Board shall report to the Administrator, 
and shall make the services and expertise of the Board available to 
Congress.
    (b) Membership.--
            (1) In general.--The Board shall consist of 35 members 
        appointed by the Administrator.
            (2) Terms.--A member of the Board shall serve for a term of 
        2 years, except that 20 of the members initially appointed to 
        the Board shall serve for a term of 1 year.
            (3) Qualifications.--The members of the Board shall be 
        individuals with expertise in financial matters and shall be 
        chosen from among elected officials and representatives of 
        national trade and environmental organizations, the financial, 
        banking, and legal communities, business and industry, and 
        academia.
            (4) Chairperson and vice chairperson.--The members of the 
        Board shall elect a Chairperson and Vice Chairperson, who shall 
        each serve a term of 2 years.
    (c) Duties.--After establishing appropriate rules and procedures 
for the operations of the Board, the Board shall--
            (1) work with the Science Advisory Board, established by 
        section 8 of the Environmental Research, Development, and 
        Demonstration Act of 1978 (42 U.S.C. 4365), to identify and 
        develop methods to integrate risk and finance considerations 
        into environmental decisionmaking;
            (2) identify and examine strategies to enhance 
        environmental protection in urban areas, reduce 
        disproportionate risks facing urban communities, and promote 
        economic revitalization and environmentally sustainable 
        development;
            (3) develop and recommend initiatives to expand 
        opportunities for the export of United States financial 
        services and environmental technologies;
            (4) develop alternative financing mechanisms to assist 
        State and local governments in paying for environmental 
        programs;
            (5) develop alternative financing mechanisms and strategies 
        to meet the unique needs of small and economically 
        disadvantaged communities; and
            (6) undertake such other activities as the Board determines 
        will further the purpose of this Act.
    (d) Recommendations.--The Board may recommend to Congress and the 
Administrator legislative and policy initiatives to make financing for 
environmental protection more available and less costly.
    (e) Open Meetings.--The Board shall hold open meetings and seek 
input from the public and other interested parties in accordance with 
the Federal Advisory Committee Act (5 U.S.C. App.) and shall otherwise 
be subject to the Act.
    (f) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out this section $1,000,000 for each of fiscal 
years 1996 through 2000.

SEC. 5. ENVIRONMENTAL FINANCE CENTERS.

    (a) In General.--The Administrator shall establish and support an 
Environmental Finance Center in an institution of higher education in 
each of the regions of the Environmental Protection Agency.
    (b) Duties and Powers.--A Center shall coordinate the activities of 
the Center with the Board and may--
            (1) provide on-site 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 financial 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 another Center on projects and 
        exchange information.
    (c) Grants.--The Administrator may make grants to institutions of 
higher education to carry out this section.
    (d) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out this section $2,500,000 for each of fiscal 
years 1996 through 2000.

Summary: Environmental Finance Act of 1995 - Directs the Administrator of the Environmental Protection Agency (EPA) 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 institutions of higher education in each of the regions of the EPA. 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 financing mechanisms for training purposes, (8) hold public meetings. And (9) collaborate and exchange information. Permits the Administrator to make grants to institutions of higher education to carry out the Center program. Authorizes appropriations.