To improve the high-speed magnetic levitation system deployment program.

SA 666. Mr. SPECTER 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 other purposes; which was ordered to lie on
the table; as follows:

Beginning on page 398, strike line 17 and all that follows
through page 400, line 13, and insert the following:

SEC. 1819. HIGH-SPEED MAGNETIC LEVITATION SYSTEM DEPLOYMENT
PROGRAM.

(a) In General.--Section 322 of title 23, United States
Code, is amended to read as follows:

``Sec. 322. High-speed magnetic levitation system deployment
program

``(a) Definitions.--In this section:
``(1) Administrator.--The term `Administrator' means the
Administrator of the Federal Railroad Administration.
``(2) Eligible project costs.--
``(A) In general.--The term `eligible project costs' means
the capital cost of the fixed guideway infrastructure of a
MAGLEV project, including land, piers, guideways, propulsion
equipment and other components attached to guideways, power
distribution facilities (including substations), control and
communications facilities, access roads, and storage, repair,
and maintenance facilities.
``(B) Inclusion.--The term `eligible project costs'
includes the costs of preconstruction planning activities.
``(C) Exclusion.--The term `eligible project costs' does
not include costs incurred for a new station.
``(3) Full project costs.--The term `full project costs'
means the total capital costs of a MAGLEV project, including
eligible project costs and the costs of stations, vehicles,
and equipment.
``(4) Maglev.--
``(A) In general.--The term `MAGLEV' means transportation
systems in revenue service employing magnetic levitation that
would be capable of safe use by the public at a speed in
excess of 240 miles per hour.
``(B) Inclusion.--The term `MAGLEV' includes power,
control, and communication facilities required for the safe
operation of the vehicles within a system described in
subparagraph (A).
``(b) Phase I--Preconstruction Planning.--
``(1) In general.--A State, State-designated authority,
multi-State-designated authority, or special purpose entity
may apply to the Administrator for grants to conduct
preconstruction planning for proposed new MAGLEV projects, or
extensions to MAGLEV systems planned, studied, or deployed
under this or any other program.
``(2) Applications.--An application for a grant under this
subsection shall include a description of the proposed MAGLEV
project, including, at a minimum--
``(A) a description of the purpose and need for the
proposed project;
``(B) a description of the travel market to be served;
``(C) a description of the technology selected for the
project;
``(D) forecasts of ridership and revenues;
``(E) a description of preliminary engineering that is
sufficient to provide a reasonable estimate of the capital
cost of constructing, operating, and maintaining the project;
``(F) a realistic schedule for construction and equipment
for the project;
``(G) an environmental analysis in accordance with the
National Environmental Policy Act of 1969 (42 U.S.C. 4321 et
seq.);
``(H) a preliminary identification of the 1 or more
organizations that will construct and operate the project;
and
``(I) a cost-benefit analysis and tentative financial plan
for construction and operation of the project.
``(3) Deadline for applications.--The Administrator shall
establish an annual deadline for receipt of applications
under this subsection.
``(4) Evaluation.--The Administrator shall evaluate all
applications received by the annual deadline to determine
whether the applications meet criteria established by the
Administrator.

[[Page S4979]]

``(5) Selection.--The Administrator shall select for
Federal support for preconstruction planning any project that
the Administrator determines meets the criteria.
``(c) Phase II--environmental Analyses.--
``(1) In general.--A State, State-designated authority,
multi-State-designated authority, or special purpose entity
that has conducted (under this section or any other provision
of law) 1 or more studies that address each of the
requirements of subsection (b)(2) may submit the studies to
the Administrator, to support an application for Federal
funding to assist in--
``(A) preparing an environmental analysis under the
National Environmental Policy Act of 1969 (42 U.S.C. 4321 et
seq.); and
``(B) planning for construction, operation, and maintenance
of a MAGLEV project.
``(2) Criteria for applications.--
``(A) In general.--The Administrator shall--
``(i) establish criteria for Phase II applications; and
``(ii) evaluate all applications received by that deadline
in accordance with criteria established under subparagraph
(B).
``(B) Criteria.--The Administrator shall establish criteria
to evaluate applications that include whether--
``(i) the technology selected is available for deployment
at the time of the application;
``(ii) operating revenues combined with known and dedicated
sources of other revenues in any year will exceed annual
operation and maintenance costs;
``(iii) over the life of the MAGLEV project, total project
benefits will exceed total project costs; and
``(iv) the proposed capital financing plan is realistic and
does not assume Federal assistance that is greater than the
maximums specified in clause (ii).
``(C) Projects selected.--If the Administrator determines
that a MAGLEV project meets the criteria established under
subparagraph (B), the Administrator may--
``(i) select that project for Federal Phase II support; and
``(ii) publish in the Federal Register a notice of intent
to prepare an environmental analysis under the National
Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.).
``(d) Phase III--Deployment.--A proposed owner of a MAGLEV
project that has submitted a draft environmental analysis
under the National Environmental Policy Act of 1969 (42
U.S.C. 4321 et seq.) and has refined planning for the
construction, operation, and maintenance of the MAGLEV
project, under this or any other program, may submit an
application to the Administrator for Federal funding of a
portion of the capital costs of planning, financing,
constructing, and equipping the preferred alternative
identified in the environmental analysis.
``(e) Financial Assistance.--
``(1) In general.--The Secretary shall make available
financial assistance to pay the Federal share of the full
project costs of projects selected under this section.
``(2) Prevailing wage and buy america requirements.--
Sections 5333(a) and 5323(j) of title 49 shall apply to
financial assistance made available under this section and
projects funded with that assistance.
``(3) Federal share.--
``(A) Phase i and phase ii.--For Phase I--preconstruction
planning and Phase II--environmental analyses carried out
under subsections (b) and (c), respectively, the Federal
share of the costs of the planning and studies shall be not
more than \2/3\ of the full cost of the planning and studies.
``(B) Phase iii.--For Phase III--deployment projects
carried out under subsection (d), not more than \2/3\ of the
full capital cost of such a project shall be made available
from funds appropriated for this program.
``(4) Funding.--
``(A) Contract authority; authorization of
appropriations.--
``(i) In general.--There is authorized to be appropriated
from the Highway Trust Fund (other than the Mass Transit
Account) for fiscal years 2005 through 2009 to carry out this
section--

``(I) $10,000,000 for Phase I--preconstruction planning
studies;
``(II) $20,000,000 for Phase II--environmental analyses;
and
``(III) $60,000,000 for Phase III--deployment projects.

``(ii) Obligation authority.--Funds authorized by this
subparagraph shall be available for obligation in the same
manner as if the funds were apportioned under chapter I,
except that--

``(I) the Federal share of the cost of the project shall be
in accordance with paragraph (2); and
``(II) the availability of the funds shall be in accordance
with subsection (f).

``(B) Noncontract authority authorization of
appropriations.--
``(i) Phase i.--There are authorized to be appropriated
from the Highway Trust Fund (other than the Mass Transit
Account) to carry out Phase I--preconstruction planning
studies under subsection (b)--

``(I) $12,000,000 for fiscal year 2005;
``(II) $6,000,000 for fiscal year 2006; and
``(III) $2,000,000 for each of fiscal years 2007 through
2009.

``(ii) Phase ii.--There are authorized to be appropriated
from the Highway Trust Fund (other than the Mass Transit
Account) to carry out Phase II--environmental analyses under
subsection (c)--

``(I) $41,500,000 for fiscal year 2005;
``(II) $25,000,000 for fiscal year 2006;
``(III) $37,000,000 for fiscal year 2007;
``(IV) $21,000,000 for fiscal year 2008; and
``(V) $9,000,000 for fiscal year 2009.

``(iii) Phase iii.--There are authorized to be appropriated
from the Highway Trust Fund (other than the Mass Transit
Account) to carry out Phase III--deployment projects under
subsection (d)--

``(I) $26,500,000 for fiscal year 2005;
``(II) $500,000,000 for fiscal year 2006;
``(III) $650,000,000 for fiscal year 2007;
``(IV) $850,000,000 for fiscal year 2008; and
``(V) $850,000,000 for fiscal year 2009.

``(iv) Program administration.--There are authorized to be
appropriated from the Highway Trust Fund (other than the Mass
Transit Account) to carry out administration of this
program--

``(I) $2,500,000 for fiscal year 2005;
``(II) $13,000,000 for fiscal year 2006;
``(III) $16,000,000 for fiscal year 2007;
``(IV) $8,000,000 for fiscal year 2008; and
``(V) $5,000,000 for fiscal year 2009.

``(v) Research and development.--There is authorized to be
appropriated from the Highway Trust Fund (other than the Mass
Transit Account) to carry out research and development
activities to reduce MAGLEV deployment costs $4,000,000 for
each of fiscal years 2005 through 2009.
``(f) Availability of Funds.--Funds made available under
subsection (e) shall remain available until expended.
``(g) Other Federal Funds.--Funds made available to a State
to carry out the surface transportation program under section
133 and the congestion mitigation and air quality improvement
programs under section 149 may be used by any State to pay a
portion of the full project costs of an eligible project
selected under this section, without requirement for non-
Federal funds.
``(h) Other Federal Funds.--A project selected for funding
under this section shall be eligible for other forms of
financial assistance provided by this title and title V of
the Railroad Revitalization and Regulatory Reform Act of 1976
(45 U.S.C. 821 et seq.), including loans, loan guarantees,
and lines of credit.
``(i) Mandatory Additional Selection.--
``(1) In general.--Subject to paragraph 2, in selecting
projects for preconstruction planning, deployment, and
financial assistance, the Administrator may only provide
funds to MAGLEV projects that meet the criteria established
under subsection (b)(4).
``(2) Priority funding.--The Administrator shall give
priority funding to a MAGLEV project that--
``(A) has already met the criteria in section 1218 of the
Transportation Equity Act for the 21st Century (112 Stat.
216) and has received funding prior to the date of enactment
of this section as a result of evaluation and contracting
procedures for MAGLEV transportation, to the extent that the
project continues to fulfill the requirements of this
section;
``(B) to the maximum extent practicable, has met safety
guidelines established by the Administrator to protect the
health and safety of the public;
``(C) is based on designs that ensure the greatest life
cycle advantages for the project;
``(D) contains domestic content of at least 70 percent; and
``(E) is designed and developed through public/private
partnership entities and continues to meet the criteria set
forth in section 1218 of the Transportation Equity Act for
the 21st Century (112 Stat. 216) regarding public/private
partnerships.''.
(b) Conforming Amendment.--The analysis for chapter 3 of
title 23, United States Code, is amended by striking the item
relating to section 322 and inserting the following:

``322. High-speed magnetic levitation system deployment program.''.
______