S.Amdt. 660

SA 660. Mr. CORNYN submitted an amendment intended to be proposed to
amendment SA 605 proposed by Mr. Inhofe to the bill H.R. 3, to
authorize funds for Federal-aid highways, highway safety programs, and
transit programs, and for othered purposes; which was ordered to lie on
the table; as follows:

At the end of subtitle C of title I, add the following:

SEC. __. TRANSPORTATION INVESTMENT CREDITS.

Section 120(j)(1) of title 23, United States Code, is
amended--
(1) by striking ``A State'' and inserting the following:
``(A) In general.--A State''; and
(2) by striking the last sentence and inserting the
following:
``(B) Special rule for use of federal funds.--
``(i) Definition of federal funds.--In this paragraph, the
term `Federal funds' does not include a loan of Federal
funds, or any other financial assistance required to be
repaid to the Federal Government.
``(ii) Reduction of credit.--For a project to build,
improve, or maintain a highway, bridge, or tunnel used in
interstate travel or commerce that receives assistance under
this title, if a public, quasi-public, or private agency has
built, improved, or maintained such a highway, bridge, or
tunnel using Federal funds, a credit of the agency under
subparagraph (A) shall be reduced by a percentage equal to
the percentage of the total cost of building, improving, or
maintaining the facility that was provided with Federal
funds.''.
______