I
103D CONGRESS
1ST SESSION
H. R. 2390
To establish the Financial Advisory Board, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
JUNE 10, 1993
Mr. WALSH introduced the following bill; which was referred jointly to the
Committees on Energy and Commerce, Banking, Finance and Urban Af-
fairs, Merchant Marine and Fisheries, Education and Labor, and Govern-
ment Operations
A BILL
To establish the Financial Advisory Board, and for other
purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Environmental Fi-
nance Act of 1993’’.
SEC. 2. PURPOSE.
(a) PURPOSE.—It is the purpose of this Act to re-
quire the establishment of an Environmental Financial
Advisory Board (hereinafter referred to as ‘‘the Board’’)
to provide expert advice and recommendations to the Ad-
ministrator of the Environmental Protection Agency
(hereinafter referred to as ‘‘the Administrator’’) and to
the Congress on issues, trends, options, innovations, and
tax matters affecting the cost and financing of environ-
mental protection by State and local governments. The
Committee shall study methods to lower costs of environ-
mental infrastructure and services, increase investment in
public and private purpose environmental infrastructure,
and build State and local capacity to plan and pay for
environmental infrastructure and services.
(b) FURTHER PURPOSE.—It is the further purpose
of the Act to require the Administrator to establish and
support Environmental Finance Centers in institutions of
higher learning. These centers shall serve to improve the
capability of State and local governments to manage envi-
ronmental programs. The Environmental Finance Centers
shall receive Federal funding at first with the goal that
they eventually become financially self sufficient.
SEC. 3. ENVIRONMENTAL FINANCIAL ADVISORY BOARD.
(a) IN GENERAL.—(1) The Administrator shall es-
tablish an Environmental Financial Advisory Board to
provide expert advice on issues affecting the costs and fi-
nancing of environmental activities at the Federal, State,
and local level. The Board shall report to the Adminis-
trator, and shall make its services and expertise available
to the appropriate Committees of Congress.
(2) The Board shall consist of thirty-five members
selected by the Administrator. The members of the Board
shall each serve for a term of two years, except that twenty
of the members initially appointed to the Board shall serve
for a term of one year. The members of the Board shall
be persons with expertise in financial matters and shall
be chosen from among elected officials, national trade and
environmental organizations, the finance, banking, and
legal communities, business and industry, and academia.
The members of the Board shall elect a Chair and Vice-
Chair, who shall each serve a term of two years.
(3) After establishing appropriate rules and proce-
dures for its operations, the Board shall—
(A) work with the Environmental Protection
Agency’s Science Advisory Board to identify and de-
velop methods to integrate risk and finance consider-
ations into environmental decisionmaking;
(B) identify and examine strategies to enhance
environmental protection in urban areas, reduce dis-
proportionate risk facing urban communities, and
promote economic revitalization and environmentally
sustainable development;
(C) develop and recommend initiatives to ex-
pand opportunities for the export of United States
financial services and environmental technologies;
(D) develop alternative financing mechanisms
to assist State and local governments in paying for
environmental programs;
(E) develop alternative financing mechanisms
and strategies to meet the unique needs of small and
economically disadvantaged communities; and
(F) undertake such other activities as the
Board determines will further the purposes of this
Act.
(4) The Board may recommend to the Administrator
and to the Congress legislative and policy initiatives to
make financing for environmental protection more avail-
able and less costly.
(5) The Board shall hold open meetings and seek
input from the public and other interested parties in ac-
cordance with provisions of the Federal Advisory Commit-
tee Act (5 U.S.C. Supp., App.), and shall otherwise be
subject to the provisions of such Act.
(b) AUTHORIZATION OF APPROPRIATIONS.—There is
authorized to be appropriated the sum of $1,000,000 for
each of the fiscal years 1994, 1995, 1996, 1997, and 1998
to carry out this section.
SEC. 4. ENVIRONMENTAL FINANCE CENTERS.
(a) IN GENERAL.—The Administrator shall establish
and support Environmental Finance Centers in each of
the ten Federal regions. These centers shall coordinate
their activities with the Board, and are authorized to—
(1) provide on- and off-site training of State
and local officials;
(2) publish newsletters, course materials, pro-
ceedings, and other publications relating to financing
of environmental infrastructure;
(3) initiate and conduct conferences, seminars,
and advisory panels on specific finance issues relat-
ing to environmental programs and projects;
(4) establish electronic database and contact
services to disseminate information to public entities
on financing alternatives for State and local environ-
mental programs;
(5) generate case studies and special reports;
(6) develop inventories and surveys of financial
issues and needs of State and local governments;
(7) identify financial programs, initiatives, and
alternative 
financing 
mechanisms 
for 
training
purposes;
(8) hold public meetings on finance issues; and
(9) collaborate with one another on projects and
exchange information.
(b) AUTHORIZATION OF APPROPRIATIONS.—There is
authorized to be appropriated the sum of $2,500,000 for
each of the fiscal years 1994, 1995, 1996, 1997, and 1998
for the Environmental Finance Center program estab-
lished pursuant to this section. The Administrator is au-
thorized to grant such funds to institutions of higher
learning to carry out the provisions of this section.
Æ