To establish limitations on advanced payments for bus rolling stock, and for other purposes.

Bill: 118-hr-6964
Sponsor: full_name: Rep. Fischbach, Michelle [R-MN-7]
Introduced: 2024-01-11
Policy area: Transportation and Public Works
Subjects: Motor vehicles

Transportation programs funding
Latest action: action_date: 2024-01-19
text: Referred to the Subcommittee on Highways and Transit.

Summaries:
action_date: 2024-01-11
action_desc: Introduced in House
text: <p><strong></strong>This bill allows a state or local authority (e.g., a transit authority) to use public transportation grants to make a partial advance payment for bus rolling stock (e.g., transit buses).&nbsp;</p><p>Specifically, a public transportation grant recipient may use grant funds to make an advance payment of not more than 20% of the total purchase order value of a bus rolling stock vehicle without requiring the vehicle manufacturer to provide a performance bond (or&nbsp;similar financial arrangement). In order to make an advance payment, the&nbsp;recipient must meet certain requirements. For example, the recipient must have a signed purchase order and an executed contract with a vehicle manufacturer that includes advance payment provisions.</p>

tv_txt: I 118th CONGRESS 2d Session H. R. 6964 IN THE HOUSE OF REPRESENTATIVES January 11, 2024 Mrs. Fischbach (for herself, Mr. Stauber , Mr. Rogers of Alabama , and Ms. Craig ) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure A BILL To establish limitations on advanced payments for bus rolling stock, and for other purposes.

1. Limitations on advanced payments for bus rolling stock Section 5323 of title 49, United States Code, is amended by adding at the end the following: (w) Limitations on advanced payments for bus rolling stock (1) In general Notwithstanding any provision of this chapter or part 200 of title 2, Code of Federal Regulations, or any successor regulation, a recipient may use assistance made available under this chapter to make an advance payment on a bus rolling stock vehicle without the transit vehicle manufacturer obtaining a performance bond or similar financial arrangement. (2) Limitations A recipient making an advance payment under paragraph (1)— (A) shall have— (i) a signed purchase order and executed contract with a transit vehicle manufacturer that includes advance payment provisions; (ii) preaward authority; and (iii) met the requirements under subsection (m) and section 5318(e) of this title; and (B) shall not provide an advanced payment that is more than 20 percent of the total purchase order value. .