```

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 638 Introduced in Senate (IS)]

<DOC>

117th CONGRESS
  1st Session
                                 S. 638

    To amend title 23, United States Code, to include a payment and 
performance security requirement for certain infrastructure financing, 
                        and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             March 9, 2021

 Mr. Van Hollen (for himself and Mr. Rounds) introduced the following 
bill; which was read twice and referred to the Committee on Environment 
                            and Public Works

_______________________________________________________________________

                                 A BILL

 
    To amend title 23, United States Code, to include a payment and 
performance security requirement for certain infrastructure financing, 
                        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. SHORT TITLE.

    This Act may be cited as the ``Promoting Infrastructure by 
Protecting Our Subcontractors and Taxpayers Act''.

SEC. 2. FEDERAL REQUIREMENTS FOR TIFIA ELIGIBILITY AND PROJECT 
              SELECTION.

    (a) In General.--Section 602(c) of title 23, United States Code, is 
amended by adding at the end the following:
            ``(3) Payment and performance security.--
                    ``(A) In general.--The Secretary shall ensure that 
                the design and construction of a project carried out 
                with assistance under the TIFIA program shall have 
                appropriate payment and performance security, 
                regardless of whether the obligor is a State, local 
                government, agency or instrumentality of a State or 
                local government, public authority, or private party.
                    ``(B) Written determination.--If payment and 
                performance security is required to be furnished by 
                applicable statute or regulation, the Secretary may 
                accept such payment and performance security 
                requirements applicable to the obligor if the Secretary 
                has made a written determination that the Federal 
                interest with respect to Federal funds and other 
                project risk related to design and construction is 
                adequately protected.
                    ``(C) No determination or applicable 
                requirements.--If a determination under this paragraph 
                has not been made or there are no payment and 
                performance security requirements applicable to the 
                obligor, the security under section 3131(b) of title 40 
                shall be required.''.
    (b) Applicability.--The amendments made by this Act shall apply 
with respect to any contract entered into on or after the date of 
enactment of this Act.
                                 <all>
```