I 

116TH CONGRESS 

2D SESSION H. R. 7388 

To amend the Public Works and Economic Development Act of 1965 to 

provide for the release of certain Federal interests in connection with 

certain grants under that Act, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 26, 2020 

Mr. PETERSON (for himself and Mr. KATKO) introduced the following bill; 

which was referred to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period 

to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee 

concerned 

A BILL 

To amend the Public Works and Economic Development 

Act of 1965 to provide for the release of certain Federal 

interests in connection with certain grants under that 

Act, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Reinvigorating Lend5 ing for the Future Act’’ or the ‘‘RLF Act’’. 


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1 SEC. 2. RELEASE OF CERTAIN INTERESTS. 

2 Section 601(d)(2) of the Public Works and Economic 

3 Development Act of 1965 (42 U.S.C. 3211(d)(2)) is 

4 amended— 

5 (1) by striking the paragraph designation and 

6 heading and all that follows through ‘‘The Secretary 

7 may’’ and inserting the following: 

8 ‘‘(2) RELEASE.— 

9 ‘‘(A) IN GENERAL.—Except as provided in 

10 subparagraph (B), the Secretary may’’; and 

11 (2) by adding at the end the following: 

12 ‘‘(B) CERTAIN RELEASES.— 

13 ‘‘(i) IN GENERAL.—On written re14 quest from a recipient of a grant under 

15 section 209(d), the Secretary shall release, 

16 in accordance with this subparagraph, any 

17 Federal interest in connection with the 

18 grant, if— 

19 ‘‘(I) the request is made not less 

20 than 7 years after the final disburse21 ment of the original grant; 

22 ‘‘(II) the recipient has complied 

23 with the terms and conditions of the 

24 grant to the satisfaction of the Sec25 retary; 


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1 ‘‘(III) any proceeds realized from 

2 the grant will be used for one or more 

3 activities that continue to carry out 

4 the economic development purposes of 

5 this Act; and 

6 ‘‘(IV) the recipient includes in 

7 the written request a description of 

8 how the recipient will use the proceeds 

9 of the grant in accordance with sub10 clause (III). 

11 ‘‘(ii) DEADLINE.— 

12 ‘‘(I) IN GENERAL.—Except as 

13 provided in subclause (II), the Sec14 retary shall complete all closeout ac15 tions for the grant by not later than 

16 180 days after receipt and acceptance 

17 of the written request under clause 

18 (i). 

19 ‘‘(II) EXTENSION.—The Sec20 retary may extend a deadline under 

21 subclause (I) by an additional 180 

22 days if the Secretary determines the 

23 extension to be necessary. 

24 ‘‘(iii) SAVINGS PROVISION.—Section 

25 602 shall continue to apply to a project asVerDate Sep 11 2014 00:14 Jul 22, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H7388.IH H7388

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1 sisted with a grant under section 209(d) 

2 regardless of whether the Secretary re3 leases a Federal interest under clause (i).’’. 

Æ 


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