H. R. 3—818
(f) OBTAINING DATA.—The Commission may secure directly from 
any department or agency of the United States, information (other 
than information required by any law to be kept confidential by 
such department or agency) necessary for the Commission to carry 
out its duties under this section. Upon request of the Commission, 
the head of that department or agency shall furnish such noncon-
fidential information to the Commission. The Commission shall 
also gather evidence through such means as it may deem appro-
priate, including through holding hearings and soliciting comments 
by means of Federal Register notices. 
(g) TERMINATION.—The Commission shall terminate as of the 
close of September 30, 2009. 
SEC. 11142. NATIONAL SURFACE TRANSPORTATION INFRASTRUCTURE 
FINANCING COMMISSION. 
(a) ESTABLISHMENT.—There is established a National Surface 
Transportation Infrastructure Financing Commission (in this sec-
tion referred to as the ‘‘Commission’’). The Commission shall hold 
its first meeting within 90 days of the appointment of the eighth 
individual to be named to the Commission. 
(b) FUNCTION.—
(1) IN GENERAL.—The Commission shall, with respect to 
the period beginning on the date of the enactment of this 
Act and ending before 2016—
(A) make a thorough investigation and study of reve-
nues flowing into the Highway Trust Fund under current 
law, including the individual components of the overall 
flow of such revenues; 
(B) consider whether the amount of such revenues 
is likely to increase, decline, or remain unchanged, absent 
changes in the law, particularly by taking into account 
the impact of possible changes in public vehicular choice, 
fuel use, or travel alternatives that could be expected to 
reduce or increase revenues into the Highway Trust Fund; 
(C) consider alternative approaches to generating reve-
nues for the Highway Trust Fund, and the level of revenues 
that such alternatives would yield; 
(D) consider highway and transit needs and whether 
additional revenues into the Highway Trust Fund, or other 
Federal revenues dedicated to highway and transit infra-
structure, would be required in order to meet such needs; 
(E) consider a program that would exempt all or a 
portion of gasoline or other motor fuels used in a State 
from the Federal excise tax on such gasoline or other 
motor fuels if such State elects not to receive all or a 
portion of Federal transportation funding, including—
(i) whether such State should be required to 
increase State gasoline or other motor fuels taxes by 
the amount of the decrease in the Federal excise tax 
on such gasoline or other motor fuels; 
(ii) whether any Federal transportation funding 
should not be reduced or eliminated for States partici-
pating in such program; and 
(iii) whether there are any compliance problems 
related to enforcement of Federal transportation-
related excise taxes under such program; and
H. R. 3—819
(F) study such other matters closely related to the 
subjects described in the preceding subparagraphs as it 
may deem appropriate. 
(2) PREPARATION OF REPORT.—Based on such investigation 
and study, the Commission shall develop a final report, with 
recommendations and the bases for those recommendations, 
indicating policies that should be adopted, or not adopted, to 
achieve various levels of annual revenue for the Highway Trust 
Fund and to enable the Highway Trust Fund to receive reve-
nues sufficient to meet highway and transit needs. Such rec-
ommendations shall address, among other matters as the 
Commission may deem appropriate—
(A) what levels of revenue are required by the Federal 
Highway Trust Fund in order for it to meet needs to 
maintain and improve the condition and performance of 
the Nation’s highway and transit systems; 
(B) what levels of revenue are required by the Federal 
Highway Trust Fund in order to ensure that Federal levels 
of investment in highways and transit do not decline in 
real terms; and 
(C) the extent, if any, to which the Highway Trust 
Fund should be augmented by other mechanisms or funds 
as a Federal means of financing highway and transit infra-
structure investments. 
(c) MEMBERSHIP.—
(1) APPOINTMENT.—The Commission shall be composed of 
15 members, appointed as follows: 
(A) Seven members appointed by the Secretary of 
Transportation, in consultation with the Secretary of the 
Treasury. 
(B) Two members appointed by the Chairman of the 
Committee on Ways and Means of the House of Representa-
tives. 
(C) Two members appointed by the Ranking Minority 
Member of the Committee on Ways and Means of the 
House of Representatives. 
(D) Two members appointed by the Chairman of the 
Committee on Finance of the Senate. 
(E) Two members appointed by the Ranking Minority 
Member of the Committee on Finance of the Senate. 
(2) QUALIFICATIONS.—Members appointed pursuant to 
paragraph (1) shall be appointed from among individuals 
knowledgeable in the fields of public transportation finance 
or highway and transit programs, policy, and needs, and may 
include representatives of interested parties, such as State 
and local governments or other public transportation authori-
ties or agencies, representatives of the transportation construc-
tion industry (including suppliers of technology, machinery, 
and materials), transportation labor (including construction and 
providers), transportation providers, the financial community, 
and users of highway and transit systems. 
(3) TERMS.—Members shall be appointed for the life of 
the Commission. 
(4) VACANCIES.—A vacancy in the Commission shall be 
filled in the manner in which the original appointment was 
made.
H. R. 3—820
(5) TRAVEL EXPENSES.—Members shall serve without pay 
but shall receive travel expenses, including per diem in lieu 
of subsistence, in accordance with sections 5702 and 5703 of 
title 5, United States Code. 
(6) CHAIRMAN.—The Chairman of the Commission shall 
be elected by the members. 
(d) STAFF.—The Commission may appoint and fix the pay of 
such personnel as it considers appropriate. 
(e) FUNDING.—Funding for the Commission shall be provided 
by the Secretary of the Treasury and by the Secretary of Transpor-
tation, out of funds available to those agencies for administrative 
and policy functions. 
(f) STAFF OF FEDERAL AGENCIES.—Upon request of the Commis-
sion, the head of any department or agency of the United States 
may detail any of the personnel of that department or agency 
to the Commission to assist in carrying out its duties under this 
section. 
(g) OBTAINING DATA.—The Commission may secure directly 
from any department or agency of the United States, information 
(other than information required by any law to be kept confidential 
by such department or agency) necessary for the Commission to 
carry out its duties under this section. Upon request of the Commis-
sion, the head of that department or agency shall furnish such 
nonconfidential information to the Commission. The Commission 
shall also gather evidence through such means as it may deem 
appropriate, including through holding hearings and soliciting com-
ments by means of Federal Register notices. 
(h) REPORT.—Not later than 2 years after the date of its first 
meeting, the Commission shall transmit its final report, including 
recommendations, to the Secretary of Transportation, the Secretary 
of the Treasury, and the Committee on Ways and Means of the 
House of Representatives, the Committee on Finance of the Senate, 
the Committee on Transportation and Infrastructure of the House 
of Representatives, the Committee on Environment and Public 
Works of the Senate, and the Committee on Banking, Housing, 
and Urban Affairs of the Senate. 
(i) TERMINATION.—The Commission shall terminate on the 
180th day following the date of transmittal of the report under 
subsection (h). All records and papers of the Commission shall 
thereupon be delivered to the Administrator of General Services 
for deposit in the National Archives. 
SEC. 11143. TAX-EXEMPT FINANCING OF HIGHWAY PROJECTS AND 
RAIL-TRUCK TRANSFER FACILITIES. 
(a) TREATMENT AS EXEMPT FACILITY BOND.—Subsection (a) of 
section 142 (relating to exempt facility bond) is amended by striking 
‘‘or’’ at the end of paragraph (13), by striking the period at the 
end of paragraph (14) and inserting ‘‘, or’’, and by adding at the 
end the following new paragraph: 
‘‘(15) qualified highway or surface freight transfer facili-
ties.’’. 
(b) QUALIFIED HIGHWAY OR SURFACE FREIGHT TRANSFER FACILI-
TIES.—Section 142 is amended by adding at the end the following: 
‘‘(m) QUALIFIED HIGHWAY
OR SURFACE FREIGHT TRANSFER 
FACILITIES.—
H. R. 3—821
‘‘(1) IN GENERAL.—For purposes of subsection (a)(15), the 
term ‘qualified highway or surface freight transfer facilities’ 
means—
‘‘(A) any surface transportation project which receives 
Federal assistance under title 23, United States Code (as 
in effect on the date of the enactment of this subsection), 
‘‘(B) any project for an international bridge or tunnel 
for which an international entity authorized under Federal 
or State law is responsible and which receives Federal 
assistance under title 23, United States Code (as so in 
effect), or 
‘‘(C) any facility for the transfer of freight from truck 
to rail or rail to truck (including any temporary storage 
facilities directly related to such transfers) which receives 
Federal assistance under either title 23 or title 49, United 
States Code (as so in effect). 
‘‘(2) NATIONAL
LIMITATION
ON
AMOUNT
OF
TAX-EXEMPT 
FINANCING FOR FACILITIES.—
‘‘(A) NATIONAL
LIMITATION.—The aggregate amount 
allocated by the Secretary of Transportation under subpara-
graph (C) shall not exceed $15,000,000,000. 
‘‘(B) ENFORCEMENT OF NATIONAL LIMITATION.—An issue 
shall not be treated as an issue described in subsection 
(a)(15) if the aggregate face amount of bonds issued pursu-
ant to such issue for any qualified highway or surface 
freight transfer facility (when added to the aggregate face 
amount of bonds previously so issued for such facility) 
exceeds the amount allocated to such facility under 
subparagraph (C). 
‘‘(C) ALLOCATION BY SECRETARY OF TRANSPORTATION.—
The Secretary of Transportation shall allocate the amount 
described in subparagraph (A) among qualified highway 
or surface freight transfer facilities in such manner as 
the Secretary determines appropriate. 
‘‘(3) EXPENDITURE OF PROCEEDS.—An issue shall not be 
treated as an issue described in subsection (a)(15) unless at 
least 95 percent of the net proceeds of the issue is expended 
for qualified highway or surface freight transfer facilities within 
the 5-year period beginning on the date of issuance. If at 
least 95 percent of such net proceeds is not expended within 
such 5-year period, an issue shall be treated as continuing 
to meet the requirements of this paragraph if the issuer uses 
all unspent proceeds of the issue to redeem bonds of the issue 
within 90 days after the end of such 5-year period. The Sec-
retary, at the request of the issuer, may extend such 5-year 
period if the issuer establishes that any failure to meet such 
period is due to circumstances beyond the control of the issuer. 
‘‘(4) EXCEPTION
FOR
CURRENT
REFUNDING
BONDS.—Para-
graph (2) shall not apply to any bond (or series of bonds) 
issued to refund a bond issued under subsection (a)(15) if—
‘‘(A) the average maturity date of the issue of which 
the refunding bond is a part is not later than the average 
maturity date of the bonds to be refunded by such issue, 
‘‘(B) the amount of the refunding bond does not exceed 
the outstanding amount of the refunded bond, and