Highway Construction Private Investment Act of 1993

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Highway Construction Private 
Investment Act of 1993''.

SEC. 2. INCLUSION OF INTERSTATE SYSTEM IN TOLL ROAD PROGRAM.

    Section 129(a)(1) of title 23, United States Code, is amended--
            (1) in subparagraph (A) by striking ``(other than a 
        highway, bridge, or tunnel on the Interstate System)''; and
            (2) in subparagraph (D) by striking ``(other than a highway 
        on the Interstate System)''.

SEC. 3. MINIMUM OBLIGATIONS FOR PRIVATELY FINANCED TOLL FACILITIES.

    Section 129 of title 23, United States Code, is amended by adding 
at the end the following new subsection:
    ``(e) Private Participation in Financing of Toll Facilities.--
            ``(1) Minimum obligations.--
                    ``(A) General rule.--In order not to have funds 
                withheld under paragraph (2), each State shall enter 
                into in each fiscal year beginning after September 30, 
                1993, under subsection (a) contracts with private 
                persons to finance construction of toll facilities 
                which require the private persons to obligate under 
                such contracts in the aggregate an amount equal to or 
                exceeding the State's aggregate apportionment amount 
                for such fiscal year.
                    ``(B) Aggregate apportionment amount defined.--As 
                used in this subsection, the term `aggregate 
                apportionment amount' means--
                            ``(i) in the case of fiscal year 1994, 15 
                        percent of the aggregate amount of funds 
                        apportioned to the State for fiscal year 1994 
                        under sections 104, 144, 157, and 160 of this 
                        title and sections 1013(c) and 1015 of the 
                        Intermodal Surface Transportation Efficiency 
                        Act of 1991;
                            ``(ii) in the case of fiscal year 1995, 20 
                        percent of the aggregate amount of funds 
                        apportioned to the State for fiscal year 1995 
                        under such sections; and
                            ``(iii) in the case of fiscal year 1996 and 
                        thereafter, 25 percent of the aggregate amount 
                        of funds apportioned to the State for the 
                        fiscal year under such sections.
            ``(2) Withholding of apportionments.--
                    ``(A) In general.--If a State does not enter into 
                contracts described in paragraph (1) in a fiscal year 
                which require private persons to obligate under such 
                contracts an aggregate amount equal to or exceeding the 
                State's aggregate apportionment for such fiscal year, 
                the Secretary shall withhold from apportionment under 
                sections 104, 144, 157, and 160 of this title and 
                sections 1013(c) and 1015 of the Intermodal Surface 
                Transportation Efficiency Act of 1991 on the first day 
                of the succeeding fiscal year an amount equal to the 
                difference between the aggregate apportionment amount 
                and the amount required to be obligated under such 
                contracts.
                    ``(B) Treatment.--The amount to be withheld from 
                apportionment to a State under subparagraph (A) shall 
                be withheld proportionately from each of the 
                apportionments to the State under the sections referred 
                to under subparagraph (A).
            ``(3) Obligation authority.--
                    ``(A) Treatment of withheld apportionments; 
                corresponding obligation authority.--For purposes of 
                imposition of any limitation on obligations for 
                Federal-aid highways and highway safety construction 
                programs, funds withheld from apportionment to a State 
                under paragraph (2) for a fiscal year shall be treated 
                as having been apportioned to the State for the fiscal 
                year; except that obligation authority under such 
                limitation corresponding to the funds so withheld from 
                apportionment shall be distributed in accordance with 
                subparagraph (B).
                    ``(B) Distribution of obligation authority.--
                Obligation authority corresponding to funds withheld 
                from apportionment under paragraph (2) shall be--
                            ``(i) distributed to the State from which 
                        such funds were withheld if the Secretary finds 
                        under paragraph (4) that the State made good 
                        faith efforts to enter into contracts described 
                        in paragraph (1); or
                            ``(ii) distributed proportionately among 
                        the States to which such funds are apportioned 
                        under paragraph (5) if the Secretary does not 
                        make such a finding.
            ``(4) Apportionment of withheld funds.--If, before October 
        31 of such fiscal year, a State from which funds are withheld 
        from apportionment for a fiscal year under paragraph (2) 
        demonstrates to the satisfaction of the Secretary that it used 
        good faith efforts to enter into contracts described in 
        paragraph (1) in the preceding fiscal year which require 
        private persons to obligate an aggregate amount which equals or 
        exceeds the State's aggregate apportionment amount for such 
        fiscal year, the Secretary shall apportion, on the date of 
        making such finding, to the State the withheld funds.
            ``(5) Reapportionment of withheld funds.--
                    ``(A) In general.--If, before October 31 of a 
                fiscal year, the Secretary does not find that a State 
                made the good faith efforts referred to in paragraph 
                (4), the Secretary shall apportion, not later than 
                November 10 of such fiscal year, the funds withheld 
                from apportionment to the State among those States 
                which entered into contracts described in paragraph (1) 
                in the preceding fiscal year which required private 
                persons to obligate an aggregate amount exceeding those 
                State's respective aggregate apportionment amounts for 
                such fiscal year. Such funds shall be apportioned among 
                such States so that each of such States is apportioned 
                an amount determined by multiplying the amount of funds 
                withheld from apportionment and the quotient of--
                            ``(i) the percentage by which--
                                    ``(I) the aggregate amount which 
                                was actually required to be obligated 
                                by private persons under contracts 
                                described in paragraph (1) and entered 
                                into in the preceding fiscal year with 
                                the State for which determination is 
                                being made; exceeds
                                    ``(II) the aggregate apportionment 
                                amount for the preceding fiscal year of 
                                the State for which the determination 
                                is being made; divided by
                            ``(ii) the aggregate of all such 
                        percentages for all such States.
                    ``(B) Transfer to stp apportionment.--Subject to 
                subparagraph (C), the Secretary shall transfer amounts 
                apportioned to a State under this paragraph to the 
                apportionment of such State under section 104(b)(3) for 
                the surface transportation program.
                    ``(C) Limitation on applicability of certain 
                requirements of stp program.--The following provisions 
                of section 133 of this title shall not apply to the 
                amounts transferred under subparagraph (B) to the 
                apportionment of the State for the surface 
                transportation program:
                            ``(i) Subsection (d)(1).
                            ``(ii) Subsection (d)(2).
                            ``(iii) Subsection (d)(3).''.

Summary: Highway Construction Private Investment Act of 1993 - Directs the Secretary of Transportation to permit Federal participation in initial construction of any toll highway, bridge, or tunnel on the Interstate System and in the reconstruction of a toll-free Federal-aid highway on the Interstate System and its conversion to a toll facility. Requires each State, to avoid having specified Federal highway funds withheld from apportionment, to enter into contracts with private persons to finance construction of toll facilities which require such persons to obligate under such contracts, in the aggregate, an amount equal to or exceeding the State's aggregate apportionment amount for the fiscal year. Sets forth provisions regarding the reapportionment of withheld funds.