S.Amdt. 3894

1. Adds Subtitle F--Brownfields Utilization, Investment, and Local Development SEC. 2851. SHORT TITLE on page 715, between lines 3 and 4

   Adds a sectionPrinted page

   Inserted: Subtitle F--Brownfields Utilization, Investment, and Local Development SEC. 2851. SHORT TITLE.

   Inserted: This subtitle may be cited as the "Brownfields Utilization, Investment, and Local Development Act of 2014" or the "BUILD Act".

   Inserted: SEC. 2852. EXPANDED ELIGIBILITY FOR NONPROFIT ORGANIZATIONS.

   Inserted: Section 104(k)(1) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)(1)) is amended--

   Inserted: (1) in subparagraph (G), by striking "or" after the semicolon;

   Inserted: (2) in subparagraph (H), by striking the period at the end and inserting a semicolon; and

   Inserted: (3) by adding at the end the following:

   Inserted: "(I) an organization described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of that Code;

   Inserted: "(J) a limited liability corporation in which all managing members are organizations described in subparagraph (I) or limited liability corporations whose sole members are organizations described in subparagraph (I);

   Inserted: "(K) a limited partnership in which all general partners are organizations described in subparagraph (I) or limited liability corporations whose sole members are organizations described in subparagraph (I); or

   Inserted: "(L) a qualified community development entity (as defined in section 45D(c)(1) of the Internal Revenue Code of 1986).".

   Inserted: SEC. 2853. MULTIPURPOSE BROWNFIELDS GRANTS.

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   Inserted: Section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)) is amended--

   Inserted: (1) by redesignating paragraphs (4) through (9) and (10) through (12) as paragraphs (5) through (10) and (13) through (15), respectively;

   Inserted: (2) in paragraph (3)(A), by striking "subject to paragraphs (4) and (5)" and inserting "subject to paragraphs (5) and (6)"; and

   Inserted: (3) by inserting after paragraph (3) the following:

   Inserted: "(4) Multipurpose brownfields grants.--

   Inserted: "(A) In general.--Subject to subparagraph (D) and paragraphs (5) and (6), the Administrator shall establish a program to provide multipurpose grants to an eligible entity based on the considerations under paragraph (3)(C), to carry out inventory, characterization, assessment, planning, or remediation activities at 1 or more brownfield sites in a proposed area.

   Inserted: "(B) Grant amounts.--

   Inserted: "(i) Individual grant amounts.--Each grant awarded under this paragraph shall not exceed $950,000.

   Inserted: "(ii) Cumulative grant amounts.--The total amount of grants awarded for each fiscal year under this paragraph shall not exceed 15 percent of the funds made available for the fiscal year to carry out this subsection.

   Inserted: "(C) Criteria.--In awarding a grant under this paragraph, the Administrator shall consider the extent to which an eligible entity is able--

   Inserted: "(i) to provide an overall plan for revitalization of the 1 or more brownfield sites in the proposed area in which the multipurpose grant will be used;

   Inserted: "(ii) to demonstrate a capacity to conduct the range of eligible activities that will be funded by the multipurpose grant; and

   Inserted: "(iii) to demonstrate that a multipurpose grant will meet the needs of the 1 or more brownfield sites in the proposed area.

   Inserted: "(D) Condition.--As a condition of receiving a grant under this paragraph, each eligible entity shall expend the full amount of the grant not later than the date that is 3 years after the date on which the grant is awarded to the eligible entity unless the Administrator, in the discretion of the Administrator, provides an extension.".

   Inserted: SEC. 2854. TREATMENT OF CERTAIN PUBLICLY OWNED BROWNFIELD SITES.

   Inserted: Section 104(k)(2) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)(2)) is amended by adding at the end the following:

   Inserted: "(C) Exemption for certain publicly owned brownfield sites.--Notwithstanding any other provision of law, an eligible entity that is a governmental entity may receive a grant under this paragraph for property acquired by that governmental entity prior to January 11, 2002, even if the governmental entity does not qualify as a bona fide prospective purchaser (as that term is defined in section 101(40)), so long as the eligible entity has not caused or contributed to a release or threatened release of a hazardous substance at the property.".

   Inserted: SEC. 2855. INCREASED FUNDING FOR REMEDIATION GRANTS.

   Inserted: Section 104(k)(3)(A)(ii) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)(3)(A)(ii)) is amended by striking "$200,000 for each site to be remediated" and inserting "$500,000 for each site to be remediated, which limit may be waived by the Administrator, but not to exceed a total of $650,000 for each site, based on the anticipated level of contamination, size, or ownership status of the site".

   Inserted: SEC. 2856. ALLOWING ADMINISTRATIVE COSTS FOR GRANT RECIPIENTS.

   Inserted: Paragraph (5) of section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)) (as redesignated by section 2853(1)) is amended--

   Inserted: (1) in subparagraph (B)--

   Inserted: (A) in clause (i)--

   Inserted: (i) by striking sub clause (III); and

   Inserted: (ii) by redesignating subclauses (IV) and (V) as subclauses (III) and (IV), respectively;

   Inserted: (B) by striking clause (ii);

   Inserted: (C) by redesignating clause (iii) as clause (ii); and

   Inserted: (D) in clause (ii) (as redesignated by subparagraph (C)), by striking "Notwithstanding clause (i)(IV)" and inserting "Notwithstanding clause (i)(III)"; and

   Inserted: (2) by adding at the end the following:

   Inserted: "(E) Administrative costs.--

   Inserted: "(i) In general.--An eligible entity may use up to 8 percent of the amounts made available under a grant or loan under this subsection for administrative costs.

   Inserted: "(ii) Restriction.--For purposes of clause (i), the term 'administrative costs' does not include--

   Inserted: "(I) investigation and identification of the extent of contamination;

   Inserted: "(II) design and performance of a response action; or

   Inserted: "(III) monitoring of a natural resource.".

   Inserted: SEC. 2857. SMALL COMMUNITY TECHNICAL ASSISTANCE GRANTS.

   Inserted: Paragraph (7)(A) of section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)) (as redesignated by section 2853(1)) is amended--

   Inserted: (1) by striking "The Administrator may provide," and inserting the following:

   Inserted: "(i) Definitions.--In this subparagraph:

   Inserted: "(I) Disadvantaged area.--The term 'disadvantaged area' means an area with an annual median household income that is less than 80 percent of the State-wide annual median household income, as determined by the latest available decennial census.

   Inserted: "(II) Small community.--The term 'small community' means a community with a population of not more than 15,000 individuals, as determined by the latest available decennial census.

   Inserted: "(ii) Establishment of program.--The Administrator shall establish a program to provide grants that provide,"; and

   Inserted: (2) by adding at the end the following:

   Inserted: "(iii) Small or disadvantaged community recipients.--

   Inserted: "(I) In general.--Subject to sub clause (II), in carrying out the program under clause (ii), the Administrator shall use not more than $600,000 of the amounts made available to carry out this paragraph to provide grants to States that receive amounts under section 128(a) to assist small communities, Indian tribes, rural areas, or disadvantaged areas in achieving the purposes described in clause (ii).

   Inserted: "(II) Limitation.--Each grant awarded under sub clause (I) shall be not more than $7,500.".

   Inserted: SEC. 2858. WATERFRONT BROWNFIELDS GRANTS.

   Inserted: Section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)) is amended by inserting after paragraph (10) (as redesignated by section 2853(1)) the following:

   Inserted: "(11) Waterfront brownfield sites.--

   Inserted: "(A) Definition of waterfront brownfield site.--In this paragraph, the term 'waterfront brownfield site' means a brownfield site that is adjacent to a body of water or a federally designated floodplain.

   Inserted: "(B) Requirements.--In providing grants under this subsection, the Administrator shall--

   Inserted: "(i) take into consideration whether the brownfield site to be served by the grant is a waterfront brownfield site; and

   Inserted: "(ii) give consideration to waterfront brownfield sites.".

   Inserted: SEC. 2859. CLEAN ENERGY BROWNFIELDS GRANTS.

   Inserted: Section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)) (as amended by section 2858) is amended by inserting after paragraph (11) the following:

   Inserted: "(12) Clean energy projects at brownfield sites.--

   Inserted: "(A) Definition of clean energy project.--In this paragraph, the term 'clean energy project' means--

   Inserted: "(i) a facility that generates renewable electricity from wind, solar, or geothermal energy; and

   Inserted: "(ii) any energy efficiency improvement project at a facility, including combined heat and power and district energy.

   Inserted: "(B) Establishment.--The Administrator shall establish a program to provide grants--

   Inserted: "(i) to eligible entities to carry out inventory, characterization, assessment, planning, feasibility analysis, design, or remediation activities to locate a clean energy project at 1 or more brownfield sites; and

   Inserted: "(ii) to capitalize a revolving loan fund for the purposes described in clause (i).

   Inserted: "(C) Maximum amount.--A grant under this paragraph shall not exceed $500,000.".

   Inserted: SEC. 2860. TARGETED FUNDING FOR STATES.

   Inserted: Paragraph (15) of section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)) (as redesignated by section 2853(1)) is amended by adding at the end the following:

   Inserted: "(C) Targeted funding.--Of the amounts made available under subparagraph (A) for a fiscal year, the Administrator may use not more than $2,000,000 to provide grants to States for purposes authorized under section 128(a), subject to the condition that each State that receives a grant under this subparagraph shall have used at least 50 percent of the amounts made available to that State in the previous fiscal year to carry out assessment and remediation activities under section 128(a).".

   Inserted: SEC. 2861. AUTHORIZATION OF APPROPRIATIONS.

   Inserted: (a) Brownfields Revitalization Funding.--Paragraph (15)(A) of section 104(k) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9604(k)) (as redesignated by section 2853(1)) is amended by striking "2006" and inserting "2016".

   Inserted: (b) State Response Programs.--Section 128(a)(3) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S. C. 9628(a)(3)) is amended by striking "2006" and inserting "2016".

   Inserted: SEC. 2862. STUDY.

   Inserted: Not later than 180 days after the date of the enactment of this Act, the Secretary of Defense, after consultation with the Administrator of the Environmental Protection Agency, shall submit a report to Congress that--

   Inserted: (1) Describes the options to use the Brownfields program to redevelop domestic defense facilities that are no longer being used by the military for the purposes of revitalizing local communities;

   Inserted: (2) Describes potential joint funding opportunities between the two agencies to advance redevelopment of unmused domestic defense facilities; and

   Inserted: (3) Analyzes the impact that redeveloped facilities would have on improving local economies and employment.

   Inserted: SEC. 2863. CONFORMING AMORTIZATION PERIODS BEGINNING IN 2014 FOR 402(A)(2) FROZEN PLAN RELIEF UNDER THE PENSION PROTECTION ACT OF 2006.

   Inserted: (a) In General.--Section 402 of the Pension Protection Act of 2006 (26 U.S. C. 430 note) is amended by redesignating subsection (j) as subsection (k), and by inserting after subsection (i) the following new subsection:

   Inserted: "(j) Conforming Amortization Periods Beginning in 2014.--

   Inserted: "(1) In general.--The rules of paragraphs (3) and (4) shall apply in the case of a plan sponsor of an eligible plan that--

   Inserted: "(A) made an initial election under subsection (a)(2) prior to January 1, 2008, and

   Inserted: "(B) satisfies the requirements of paragraph (2).

   Inserted: "(2) Requirements.--The requirements of this paragraph are satisfied if--

   Inserted: "(A) no applicable benefit increase (as defined in subsection (b)(3)(B)) takes effect at any time during the period beginning on November 29, 2011, and ending on the day before the first day of the first plan year beginning in 2014, and

   Inserted: "(B) the requirements of subsection (b)(2)(A)(i) are satisfied as of January 1, 2013, for the plan for which the initial election under subsection (a)(2) was made (treating the plan year commencing on January 1, 2013, as the first applicable plan year for purposes of such requirements).

   Inserted: "(3) Conforming amortization periods.--Effective for the first plan year beginning on or after January 1, 2014, and for each subsequent plan year through the end of the 17-year period determined under subparagraph (A), the plan sponsor shall apply section 303 of the Employee Retirement Income Security Act of 1974 and section 430 of the Internal Revenue Code of 1986 by--

   Inserted: "(A) determining the amortization period as a 17-year period beginning on January 1, 2008,

   Inserted: "(B) amortizing any funding shortfall in equal annual installments over the portion of the 17-year amortization period remaining as of the date of the enactment of the Brownfields Utilization, Investment, and Local Development Act of 2013 (with all previously established shortfall amortization bases considered fully amortized),

   Inserted: "(C) using an interest rate of 8.25 percent (rather than the segment rates calculated on the basis of the corporate bond yield curve) in determining the funding target and shortfall amortization charge, and

   Inserted: "(D) excluding any plan-related expenses expected to be paid from plan assets during the plan year.

   Inserted: "(4) Automatic revocation of election made under the preservation of access to care for medicare beneficiaries and pension relief act of 2010.--In the case of a plan sponsor that made an election under section 303(c)(2)(D)(iv) of the Employee Retirement Income Security Act of 1974 and section 430(c)(2)(D)(iv) of the Internal Revenue Code of 1986, such election shall be automatically revoked notwithstanding sub clause (III) of section 303(c)(2)(D)(iv) of such Act and section 430(c)(2)(D)(iv) of such Code.".

   Inserted: (b) Effective Date.--The amendments made by this section shall apply to plan years ending after the date of the enactment of this Act.

   Original wording

   On page 715, between lines 3 and 4, insert the following:

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