under paragraph (2)(B) and Davis-Bacon provisions 
referred to paragraph (3). 
‘‘(5) EVALUATION.—Not later than 3 years 
after receiving a grant under this section, the grant-
ee shall assess the effectiveness of the use of the 
funds by evaluating whether the funds created a de-
monstrable increase in transit capacity and ridership 
and a reduction in carbon dioxide emissions, vehicle 
miles traveled, and congestion. 
‘‘(6) TECHNICAL ASSISTANCE.—The Secretary, 
through a competitive bid process, may enter into 
contracts, cooperative agreements, and other agree-
ments with national nonprofit organizations and uni-
versities that have the appropriate demonstrated ca-
pacity to provide value capture-related technical as-
sistance under this subsection, including guidance on 
implementing foreign value capture models within 
the United States. 
‘‘(7) SUPPLEMENT
NOT
SUPPLANT.—Grant 
funds received under this section shall be used to 
supplement and not supplant other Federal, State, 
and local public funds expended on public value cap-
ture and affordable transit-oriented development 
programs in the State or local government. 
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‘‘(8) 
VALUE
CAPTURE
POLICY
REQUIRE-
MENTS.— 
‘‘(A) VALUE CAPTURE POLICY.—Not later 
than October 1 of the fiscal year that begins 2 
years after the date of enactment of this sec-
tion, the Secretary, in collaboration with State 
departments of transportation, metropolitan 
planning organizations, and regional council of 
governments, shall establish voluntary and con-
sensus-based value capture standards, policies, 
and best practices for State and local value cap-
ture mechanisms that promote greater invest-
ments in public transportation and affordable 
transit-oriented development. 
‘‘(B) REPORT.—Not later than 15 months 
after the date of enactment of this section, the 
Secretary shall make available to the public a 
report cataloging examples of State and local 
laws and policies that provide for value capture 
and value sharing that promote greater invest-
ment in public transportation and affordable 
transit-oriented development. 
‘‘(C) BEST PRACTICES.—Based on the re-
port required under subparagraph (B), the Sec-
retary shall identify and disseminate examples 
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of best practices where States and local govern-
ments have adopted value capture and value 
sharing mechanisms that have successfully pro-
vided for greater investment in public transpor-
tation and affordable transit-oriented develop-
ment. 
‘‘(b) DEFINITIONS.—For purposes of this section— 
‘‘(1) the term ‘value capture’ means capturing 
a portion of the incremental economic value created 
by government investments, activities, and policies 
that may generate alternative revenue streams, as-
sets, or other financial value for which could assist 
in funding those investments and activities; 
‘‘(2) the term ‘transit-oriented development’ 
means a mix of commercial, residential, office, and 
entertainment centered around or located near a 
public transportation station that promotes afford-
able housing and commercial space; 
‘‘(3) the term ‘affordable housing’ means hous-
ing, the cost of which does not exceed 30 percent of 
the income of a family; and 
‘‘(4) the term ‘affordable commercial space’ 
means commercial space dedicated to either protect 
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or promote small and disadvantage businesses pro-
vided below market rent value.’’. 
Æ 
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