United States Code, and any regulations or 
practices thereunder, that impede greater use of 
public-private partnerships and private invest-
ment in covered projects; and 
(B) develop procedures and approaches 
that— 
(i) address the impediments described 
in subparagraph (A), in a manner similar 
to the Special Experimental Project Num-
ber 15 of the Federal Highway Adminis-
tration (commonly referred to as ‘‘SEP– 
15’’); and 
(ii) protect the public interest and any 
public investment in covered projects. 
(3) REPORT.—Not later than 2 years after the 
date of enactment of this Act, and every 2 years 
thereafter until the termination of the experimental 
program, the Administrator shall submit to Congress 
a report on the status of the experimental program. 
(4) RULEMAKING.—Not later than 180 days 
after the date of enactment of this Act, the Adminis-
trator shall issue rules to carry out the experimental 
program. 
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(5) RULE OF CONSTRUCTION.—Nothing in this 
subsection may be construed to allow the Adminis-
trator to waive any requirement under— 
(A) section 5333 of title 49, United States 
Code; 
(B) the National Environmental Policy Act 
of 1969 (42 U.S.C. 4321 et seq.); or 
(C) any other provision of Federal law not 
described in paragraph (2)(A). 
(c) DETERMINATION OF NUMBER OF FIXED GUIDE-
WAY MILES.— 
(1) IN
GENERAL.—For purposes of appor-
tioning funding under sections 5307 and 5309 of 
title 49, United States Code, the Administrator shall 
deem covered HOT lane facility miles in an area to 
be fixed guideway miles attributable to the area. 
(2) AMOUNT APPORTIONED NOT AFFECTED.— 
Notwithstanding any other provision of law, the Sec-
retary may not apportion an amount for an urban-
ized area under section 5307 or 5309 of title 49, 
United States Code, for fiscal year 2012, or any fis-
cal year thereafter, that is less than the amount ap-
portioned for the urbanized area under section 5307 
or 5309, respectively, for fiscal year 2011, if the re-
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duction in amount is solely attributable to the re-
quirement under paragraph (1). 
(3) AVAILABILITY OF FUNDS.—There shall be 
available from the Mass Transit Account of the 
Highway Trust fund for fiscal year 2012, and each 
fiscal year thereafter, such sums as are necessary to 
carry out this subsection. 
SEC. 7. REMOVAL OF CAP ON EXEMPT FACILITY BONDS 
USED TO FINANCE QUALIFIED HIGHWAY OR 
SURFACE FREIGHT TRANSFER FACILITIES. 
(a) IN GENERAL.—Subsection (m) of section 142 of 
the Internal Revenue Code of 1986 is amended— 
(1) by striking paragraph (2), and 
(2) by redesignating paragraphs (3) and (4) as 
paragraphs (2) and (3). 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to bonds issued after the date of 
the enactment of this Act. 
SEC. 8. REDUCTION IN ANNUAL ADJUSTMENTS TO PAY 
SCHEDULES FOR FEDERAL EMPLOYEES FOR 
FISCAL YEARS 2013 THROUGH 2021. 
For each of fiscal years 2013 through 2021, section 
5303(a) of title 5, United States Code, shall be applied 
by substituting ‘‘1 percentage point’’ for ‘‘one-half of 1 
percentage point’’. 
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SEC. 9. FUNDING. 
Of the Federal funds saved for the period of fiscal 
years 2013 through 2021 as a result of the application 
of section 9 of this Act and subsections (b) and (c) of 
section 147 of the Continuing Appropriations Act, 2011 
(Public Law 111–242; 124 Stat. 2607, 124 Stat. 3518)— 
(1) such sums as may be necessary to carry out 
this Act and any amendments made by this Act shall 
be deposited into the Highway Trust Fund; and 
(2) the remainder of the funds shall be used for 
purposes of deficit reduction. 
Æ 
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