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(B) in paragraph (4), by striking ‘‘market-
able United States Treasury securities as of the
date on which the line of credit is obligated’’ and
inserting ‘‘ United States Treasury securities as
of the date of execution of the line of credit agree-
ment’’; and
(C) in paragraph (5)(A)(i), by inserting
‘‘that also secure the senior project obligations’’
after ‘‘sources’’; and
(2) in subsection (c)—
(A) in paragraph (2)—
(i) by striking ‘‘scheduled’’;
(ii) by inserting ‘‘be scheduled to’’ after
‘‘shall’’; and
(iii) by striking ‘‘be fully repaid, with
interest,’’ and inserting ‘‘to conclude, with
full repayment of principal and interest,’’;
and
(B) by striking paragraph (3).
(e) PROGRAM ADMINISTRATION.—Section 185 of title
23, United States Code, is amended to read as follows:
‘‘§ 185. Program administration
‘‘(a) REQUIREMENT.—The Secretary shall establish a
uniform system to service the Federal credit instruments
made available under this subchapter.
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‘‘(b) FEES.—The Secretary may establish fees at a
level to cover all or a portion of the costs to the Federal
government of servicing the Federal credit instruments.
‘‘(c) SERVICER.—
‘‘(1) IN GENERAL.—The Secretary may appoint
a financial entity to assist the Secretary in servicing
the Federal credit instruments.
‘‘(2) DUTIES.—The servicer shall act as the
agent for the Secretary.
‘‘(3) FEE.—The servicer shall receive a servicing
fee, subject to approval by the Secretary.
‘‘(d) ASSISTANCE FROM EXPERT FIRMS.—The Sec-
retary may retain the services of expert firms, including
counsel, in the field of municipal and project finance to
assist in the underwriting and servicing of Federal credit
instruments.’’.
(f) FUNDING.—Section 188 of title 23, United States
Code, is amended to read as follows:
‘‘§ 188. Funding
‘‘(a) FUNDING.—
‘‘(1) IN GENERAL.—There is authorized to be ap-
propriated from the Highway Trust Fund (other than
the Mass Transit Account) to carry out this sub-
chapter $122,021,761 for each of fiscal years 2005
through 2009.
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‘‘(2) ADMINISTRATIVE COSTS.—Of amounts made
available under paragraph (1), the Secretary may use
for the administration of this subchapter not more
than $1,877,258 for each of fiscal years 2005 through
2009.
‘‘(3) COLLECTED FEES AND SERVICES.—In addi-
tion to funds provided under paragraph (2)—
‘‘(A) all fees collected under this subchapter
shall be made available without further appro-
priation to the Secretary until expended, for use
in administering this subchapter; and
‘‘(B) the Secretary may accept and use pay-
ment or services provided by transaction partici-
pants, or third parties that are paid by partici-
pants from transaction proceeds, for due dili-
gence, legal, financial, or technical services.
‘‘(4) AVAILABILITY.—Amounts made available
under paragraph (1) shall remain available until ex-
pended.
‘‘(b) CONTRACT AUTHORITY.—
‘‘(1) IN GENERAL.—Notwithstanding any other
provision of law, approval by the Secretary of a Fed-
eral credit instrument that uses funds made available
under this subchapter shall be deemed to be accept-
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ance by the United States of a contractual obligation
to fund the Federal credit investment.
‘‘(2) AVAILABILITY.—Amounts authorized under
this section for a fiscal year shall be available for ob-
ligation on October 1 of the fiscal year.’’.
(g) REPEAL.—Section 189 of title 23, United States
code, is repealed.
(h) CONFORMING AMENDMENTS.—The analysis for
chapter 1 of title 23, United States Code, is amended—
(1) by striking the item relating to section 185
and inserting the following:
‘‘185. Program administration.’’;
and
(2) by striking the item relating to section 189.
SEC. 1304. STATE INFRASTRUCTURE BANKS.
Section 1511(b)(1)(A) of the Transportation Equity
Act for the 21st Century (23 U.S.C. 181 note; 112 Stat.
251) is amended by striking ‘‘Missouri,’’ and all that fol-
lows through ‘‘for the establishment’’ and inserting ‘‘Mis-
souri, Rhode Island, Texas, and any other State that seeks
such an agreement for the establishment’’.
SEC. 1305. PUBLIC-PRIVATE PARTNERSHIPS PILOT PRO-
GRAM.
Section 109(c) of title 23, United States Code, is
amended by adding at the end the following:
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‘‘(3) PUBLIC-PRIVATE PARTNERSHIPS PILOT PRO-
GRAM.—
‘‘(A) IN GENERAL.—The Secretary may un-
dertake a pilot program to demonstrate the ad-
vantages of public-private partnerships for crit-
ical capital development projects, including high-
way, bridge, and freight intermodal connector
projects authorized under this title.
‘‘(B) PROJECTS.—In carrying out the pro-
gram, the Secretary shall—
‘‘(i) select not less than 10 qualified
public-private partnership projects that are
authorized under applicable State and local
laws; and
‘‘(ii) use funds made available to carry
out the program to provide to sponsors of
the projects assistance for development
phase 
activities 
described 
in 
section
181(1)(A), to enhance project delivery and
reduce overall costs.’’.
Subtitle D—Safety
SEC. 1401. HIGHWAY SAFETY IMPROVEMENT PROGRAM.
(a) SAFETY IMPROVEMENT.—
(1) IN
GENERAL.—Section 148 of title 23,
United States Code, is amended to read as follows: