(1) IN GENERAL.—Any eligible borrower, as de-
fined in section 8 of this Act, may require that every 
contractor or subcontractor on a project assisted by 
a loan under this Act agree, for that project only, 
to negotiate or become a party to a project labor 
agreement with 1 or more appropriate labor organi-
zations. The borrower has complete discretion 
whether to include such a requirement— 
(A) where a project labor agreement will 
advance the procurement interest of the bor-
rower in cost, efficiency, and quality and in pro-
moting labor-management stability as well as 
compliance with applicable legal requirements 
governing safety and health, equal employment 
opportunity, labor and employment standards, 
and other matters; and 
(B) where no laws applicable to the specific 
construction project preclude the use of the pro-
posed project labor agreement. 
(2) REQUIREMENTS.—Any project labor agree-
ment reached pursuant to this section— 
(A) shall bind all contractors and sub-
contractors on the construction project through 
the inclusion of appropriate clauses in all rel-
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evant solicitation provisions and contract docu-
ments; 
(B) shall allow all contractors and sub-
contractors wishing to compete for contracts 
and subcontracts on the project to do so, with-
out discrimination against contractors, sub-
contractors, or employees based on union or 
nonunion status; 
(C) 
shall 
contain 
guarantees 
against 
strikes, lockouts, and similar work disruptions; 
(D) shall set forth effective, prompt, and 
mutually binding procedures for resolving labor 
disputes arising during the project; 
(E) shall provide other mechanisms for 
labor-management cooperation on matters of 
mutual interest and concern, including produc-
tivity, quality of work, safety, and health; and 
(F) shall fully conform to all applicable 
statutes and regulations. 
(3) VOLUNTARY
AGREEMENTS.—No provision 
of this section may be construed as— 
(A) requiring a borrower to use a project 
labor agreement on any project; 
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(B) precluding use of a project labor 
agreement in circumstances not covered under 
this section; or 
(C) requiring contractors to enter into a 
project labor agreement with any particular 
labor organization. 
(c) RULE OF CONSTRUCTION.—No provision of this 
section may be construed as creating any right or benefit, 
substantive or procedural, enforceable by a non-Federal 
party against the United States, its departments, agencies 
or instrumentalities, its officers or employees, or any other 
person, including the borrower. 
SEC. 11. ADMINISTRATIVE PROVISIONS. 
(a) MINIMUM
PHASE-IN
PERIOD.—Loans made 
under section 7 shall be disbursed by the Bank imme-
diately or over the construction or development period of 
the project as needed so as to accommodate more loan 
requests. The payout in any given year shall be no less 
than 20 percent of the total amount authorized. 
(b) PERIOD TO MATURITY.—The period to maturity 
of any loan made under section 7 shall not be less than 
10 years nor more than 30 years, at the discretion of the 
borrower, but may be paid earlier. 
(c) ADMINISTRATIVE FEES.—The Bank shall impose 
an administrative fee of not more than one-quarter of 1 
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percent on each recipient of a loan, sufficient to cover ad-
ministrative costs incurred by the Bank, including over-
head, in administering such loan. 
(d) COLLECTION OF PRINCIPAL AND FEES.—The 
Bank shall enforce collection of any loan in which 2 or 
more payments are due and payable. To that end, the 
Bank shall be empowered to enter Federal district court 
to seek an order to attach property of the borrower, up 
to the amount necessary to end the delinquency. The cost 
of collection shall be added to the balance of the loan. The 
borrower shall continue to make semiannual payments of 
the same amount until the entire balance, including fees, 
is paid. 
SEC. 12. ABOLISHMENT OF BANK. 
(a) WINDING
UP OPERATIONS.—The Bank shall 
wind up the affairs of the Bank during the 6-month period 
ending on the date the last outstanding loan issued by the 
Bank under this Act is repaid. 
(b) BANK ABOLISHED.—Effective at the end of the 
30-day period beginning on the date described in sub-
section (a), the Bank is hereby abolished. 
Æ 
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