I 
117TH CONGRESS 
1ST SESSION H. R. 2340 
To direct the Secretary of Transportation to establish a toll credit exchange 
pilot program, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 1, 2021 
Mr. PAPPAS
(for himself, Ms. NEWMAN, Ms. SHERRILL, and Mr. 
MALINOWSKI) introduced the following bill; which was referred to the 
Committee on Transportation and Infrastructure 
A BILL 
To direct the Secretary of Transportation to establish a 
toll credit exchange pilot program, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Toll Credit Market-
place Act of 2021’’. 
SEC. 2. TRANSFER AND SALE OF TOLL CREDITS. 
(a) DEFINITIONS.—In this section: 
(1) ORIGINATING
STATE.—The term ‘‘origi-
nating State’’ means a State that— 
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(A) is eligible to use a credit under section 
120(i) of title 23, United States Code; and 
(B) has been selected by the Secretary 
under subsection (d)(2). 
(2) PILOT
PROGRAM.—The term ‘‘pilot pro-
gram’’ means the pilot program established under 
subsection (b). 
(3) RECIPIENT
STATE.—The term ‘‘recipient 
State’’ means a State that receives a credit by trans-
fer or by sale under this section from an originating 
State. 
(4) STATE.—The term ‘‘State’’ has the mean-
ing given the term in section 101(a) of title 23, 
United States Code. 
(b) ESTABLISHMENT OF PILOT PROGRAM.—The Sec-
retary of Transportation shall establish and implement a 
toll credit exchange pilot program in accordance with this 
section. 
(c) PURPOSES.—The purposes of the pilot program 
are— 
(1) to identify the extent of the demand to pur-
chase toll credits; 
(2) to identify the cash price of toll credits 
through bilateral transactions between States; 
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(3) to analyze the impact of the purchase or 
sale of toll credits on transportation expenditures; 
(4) to test the feasibility of expanding the pilot 
program to allow all States to participate on a per-
manent basis; and 
(5) to identify any other repercussions of the 
toll credit exchange. 
(d) SELECTION OF ORIGINATING STATES.— 
(1) APPLICATION.—In order to participate in 
the pilot program as an originating State, a State 
shall submit to the Secretary an application at such 
time, in such manner, and containing such informa-
tion as the Secretary may require, including, at a 
minimum, such information as is required for the 
Secretary to verify— 
(A) the amount of unused toll credits for 
which the State has submitted certification to 
the Secretary that are available to be sold or 
transferred under the pilot program, includ-
ing— 
(i) toll revenue generated and the 
sources of that revenue; 
(ii) toll revenue used by public, quasi- 
public, and private agencies to build, im-
prove, or maintain highways, bridges, or 
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tunnels that serve the public purpose of 
interstate commerce; and 
(iii) an accounting of any Federal 
funds used by the public, quasi-public, or 
private agency to build, improve, or main-
tain the toll facility, to validate that the 
credit has been reduced by a percentage 
equal to the percentage of the total cost of 
building, improving, or maintaining the fa-
cility that was derived from Federal funds; 
(B) the documentation of maintenance of 
effort for toll credits earned by the originating 
State; and 
(C) the accuracy of the accounting system 
of the State to earn and track toll credits. 
(2) SELECTION.—Of the States that submit an 
application under paragraph (1), the Secretary may 
select not more than 10 States to be designated as 
an originating State. 
(3) LIMITATION ON SALES.—At any time, the 
Secretary may limit the amount of unused toll cred-
its that may be offered for sale under the pilot pro-
gram. 
(e) TRANSFER OR SALE OF CREDITS.— 
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(1) IN
GENERAL.—In carrying out the pilot 
program, the Secretary shall provide that an origi-
nating State may transfer or sell to a recipient State 
a credit not previously used by the originating State 
under section 120(i) of title 23, United States Code. 
(2) WEBSITE
SUPPORT.—The Secretary shall 
make available a publicly accessible website on which 
originating States shall post the amount of toll cred-
its, verified under subsection (d)(1)(A), that are 
available for sale or transfer to a recipient State. 
(3) 
BILATERAL
TRANSACTIONS.—An 
origi-
nating State and a recipient State may enter into a 
bilateral transaction to sell or transfer verified toll 
credits. 
(4) NOTIFICATION.—Not later than 30 days 
after the date on which a credit is transferred or 
sold, the originating State and the recipient State 
shall jointly submit to the Secretary a written notifi-
cation of the transfer or sale, including details on— 
(A) the amount of toll credits that have 
been sold or transferred; 
(B) the price paid or other value trans-
ferred in exchange for the toll credits; 
(C) the intended use by the recipient State 
of the toll credits, if known; 
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(D) the intended use by the originating 
State of the cash or other value transferred; 
(E) an update on the toll credit balance of 
the originating State and the recipient State; 
and 
(F) any other information about the trans-
action that the Secretary may require. 
(5) USE OF CREDITS BY TRANSFEREE OR PUR-
CHASER.—A recipient State may use a credit re-
ceived under paragraph (1) toward the non-Federal 
share requirement for any funds made available to 
carry out title 23 or chapter 53 of title 49, United 
States Code, in accordance with section 120(i) of 
title 23, United States Code. 
(6) USE OF PROCEEDS FROM SALE OF CRED-
ITS.—An originating State shall use the proceeds 
from the sale of a credit under paragraph (1) for the 
construction costs of any project in the originating 
State that is eligible under title 23, United States 
Code. 
(f) REPORTING REQUIREMENTS.— 
(1) INITIAL REPORT.—Not later than 1 year 
after the date on which the pilot program is estab-
lished, the Secretary shall submit to the Committee 
on Environment and Public Works of the Senate 
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and the Committee on Transportation and Infra-
structure of the House of Representatives a report 
on the progress of the pilot program. 
(2) FINAL REPORT.—Not later than 3 years 
after the date on which the pilot program is estab-
lished, the Secretary shall— 
(A) submit to the Committee on Environ-
ment and Public Works of the Senate and the 
Committee on Transportation and Infrastruc-
ture of the House of Representatives a report 
that— 
(i) determines whether a toll credit 
marketplace is viable and cost-effective; 
(ii) describes the buying and selling 
activities under the pilot program; 
(iii) describes the average sale price of 
toll credits; 
(iv) determines whether the pilot pro-
gram could be expanded to more States or 
all States or to non-State operators of toll 
facilities; 
(v) provides updated information on 
the toll credit balance accumulated by each 
State; and 
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(vi) describes the list of projects that 
were assisted by the pilot program; and 
(B) make the report under subparagraph 
(A) publicly available on the website of the De-
partment. 
(g) TERMINATION.— 
(1) IN GENERAL.—The Secretary may termi-
nate the pilot program or the participation of any 
State in the pilot program if the Secretary deter-
mines that— 
(A) the pilot program is not serving a pub-
lic benefit; or 
(B) it is not cost effective to carry out the 
pilot program. 
(2) PROCEDURES.—The termination of the pilot 
program or the participation of a State in the pilot 
program shall be carried out consistent with Federal 
requirements for project closeout, adjustment, and 
continuing responsibilities. 
Æ 
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