(G) work that will bring an educational fa-
cility into conformity with the requirements
of—
(i) environmental protection or health
and safety programs mandated by Federal,
State, or local law if such requirements
were not in effect when the facility was ini-
tially constructed; and
(ii) hazardous waste disposal, treat-
ment, and storage requirements mandated
by the Resource Conservation and Recov-
ery Act of 1976 or similar State laws;
(H) work that will enable efficient use of
available energy resources, especially coal, solar
power, and other renewable energy resources;
(I) work to detect, remove, or otherwise
contain asbestos hazards in educational facili-
ties; or
(J) work to construct new public library
facilities or repair or upgrade existing public li-
brary facilities.
(2) DAVIS-BACON.—The wage requirements of
the Act of March 3, 1931 (referred to as the ‘‘Davis-
Bacon Act’’, 40 U.S.C. 276a et seq.) shall apply
with respect to individuals employed on the projects
described in paragraph (1).
(f) SUPPLEMENTATION.—Any loan made by an infra-
structure bank shall be used to supplement and not sup-
plant other Federal, State, and local funds available.
(g) LIMITATION ON REPAYMENTS.—Notwithstanding
any other provision of law, the repayment of a loan from
an infrastructure bank under this section may not be cred-
ited towards the non-Federal share of the cost of any
project.
(h) 
SECRETARIAL
REQUIREMENTS.—In 
admin-
istering this section, the Secretary of the Treasury shall
specify procedures and guidelines for establishing, oper-
ating, and providing assistance from an infrastructure
bank.
(i) UNITED STATES NOT OBLIGATED.—The con-
tribution of Federal funds into an infrastructure bank es-
tablished under this section shall not be construed as a
commitment, guarantee, or obligation on the part of the
United States to any third party, nor shall any third party
have any right against the United States for payment sole-
ly by virtue of the contribution. Any security or debt fi-
nancing instrument issued by the infrastructure bank
shall expressly state that the security or instrument does
not constitute a commitment, guarantee, or obligation of
the United States.
(j) MANAGEMENT OF FEDERAL FUNDS.—Sections
3335 and 6503 of title 31, United States Code, shall not
apply to funds contributed under this section.
(k) PROGRAM ADMINISTRATION.—For each of fiscal
years 2002 through 2006, a State may expend not to ex-
ceed 2 percent of the Federal funds contributed to an in-
frastructure bank established by the State under this sec-
tion to pay the reasonable costs of administering the bank.
(l) SECRETARIAL REVIEW.—The Secretary of the
Treasury shall review the financial condition of each infra-
structure bank established under this section and transmit
to Congress a report on the results of such review not later
than 90 days after the completion of the review.
(m) AUTHORIZATION
OF
APPROPRIATIONS.—For
grants to States for the initial capitalization of infrastruc-
ture banks there are authorized to be appropriated
$500,000,000 for fiscal year 2002 and for each of the next
4 fiscal years.
SEC. 4. DEFINITIONS.
For purposes of this Act:
(1) LOCAL
EDUCATIONAL
AGENCY.—(A) The
term ‘‘local educational agency’’ means a public
board of education or other public authority legally
constituted within a State for either administrative
control or direction of, or to perform a service func-
tion for, public elementary or secondary schools in a
city, county, township, school district, or other polit-
ical subdivision of a State, or for such combination
of school districts or counties as are recognized in a
State as an administrative agency for its public ele-
mentary or secondary schools.
(B) The term includes any other public institu-
tion or agency having administrative control and di-
rection of a public elementary or secondary school.
(C) The term includes an elementary or sec-
ondary school funded by the Bureau of Indian Af-
fairs but only to the extent that such inclusion
makes such school eligible for programs for which
specific eligibility is not provided to such school in
another provision of law and such school does not
have a student population that is smaller than the
student population of the local educational agency
receiving assistance under this Act with the smallest
student population, except that such school shall not
be subject to the jurisdiction of any State edu-
cational agency other than the Bureau of Indian Af-
fairs.
(2) OUTLYING
AREA.—The term ‘‘outlying
area’’ means the Virgin Islands, Guam, American
Samoa, the Commonwealth of the Northern Mariana
Islands, the Republic of the Marshall Islands, the
Federated States of Micronesia, and the Republic of
Palau.
(3) PUBLIC
LIBRARY.—The term ‘‘public li-
brary’’ means a library that serves free of charge all
residents of a community, district, or region, and re-
ceives its financial support in whole or in part from
public funds. Such term also includes a research li-
brary, which, for the purposes of this sentence,
means a library that—
(A) makes its services available to the pub-
lic free of charge;
(B) has extensive collections of books,
manuscripts, and other materials suitable for
scholarly research which are not available to the
public through public libraries;
(C) engages in the dissemination of hu-
manistic knowledge through services to readers,
fellowships, educational and cultural programs,
publication of significant research, and other
activities; and
(D) is not an integral part of an institu-
tion of higher education.
(4) STATE.—The term ‘‘State’’ means each of
the 50 States, the District of Columbia, the Com-
monwealth of Puerto Rico, and each of the outlying
areas.
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