S.Amdt. 2314

SA 2314. Mrs. SHAHEEN submitted an amendment intended to be proposed
to amendment SA 2266 submitted by Mr. McConnell and intended to be
proposed to the bill H.R. 22, to amend the Internal Revenue Code of
1986 to exempt employees with health coverage under TRICARE or the
Veterans Administration from being taken into account for purposes of
determining the employers to which the employer mandate applies under
the Patient Protection and Affordable Care Act; which was ordered to
lie on the table; as follows:

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

SEC. 11__. STRENGTHEN AND FORTIFY EXISTING BRIDGES.

(a) Definitions.--In this section:
(1) Bridge.--The term ``bridge'' means a bridge on a public
road, without regard to whether the bridge is on a Federal-
aid highway.
(2) Eligible bridge.--The term ``eligible bridge'' means a
bridge that is--
(A) structurally deficient;
(B) functionally obsolete; or
(C) fracture critical.
(3) Federal-aid highway.--The term ``Federal-aid highway''
has the meaning given the term in section 101(a) of title 23,
United States Code.
(4) Fracture critical.--The term ``fracture critical''
means, with respect to a bridge, a bridge with a steel member
in tension, or with a tension element, the failure of which
would likely cause a portion of the bridge or the entire
bridge to collapse.
(5) Functionally obsolete.--The term ``functionally
obsolete'' means, with respect to a bridge, a bridge that, as
determined by

[[Page S5551]]

the Secretary, no longer meets the most current design
standards for the traffic demands on the bridge.
(6) Public road.--The term ``public road'' has the meaning
given the term in section 101(a) of title 23, United States
Code.
(7) Rehabilitation.--The term ``rehabilitation'' means,
with respect to a bridge, the carrying out of major work
necessary, as determined by the Secretary--
(A) to restore the structural integrity of the bridge; or
(B) to correct a major safety defect of the bridge.
(8) Replacement.--The term ``replacement'' means, with
respect to a bridge, the construction of a new facility that,
as determined by the Secretary, is in the same general
traffic corridor as the replaced bridge.
(9) State.--The term ``State'' means--
(A) a State; and
(B) the District of Columbia.
(10) Structurally deficient.--The term ``structurally
deficient'' means, with respect to a bridge, a bridge that,
as determined by the Secretary--
(A) has significant load-carrying elements that are in poor
or worse condition due to deterioration, damage, or both;
(B) has a load capacity that is significantly below
truckloads using the bridge and that requires replacement; or
(C) has a waterway opening causing frequent flooding of the
bridge deck and approaches resulting in significant traffic
interruptions.
(b) Establishment.--Not later than 30 days after the date
of enactment of this Act, the Secretary shall establish a
program to assist States to rehabilitate or replace eligible
bridges.
(c) Apportionment of Funds.--
(1) In general.--Amounts made available to carry out the
program established under subsection (b) for a fiscal year
shall be apportioned to each State according to the ratio
that--
(A) the total cost to rehabilitate or replace structurally
deficient and functionally obsolete bridges in that State;
bears to
(B) the total cost to rehabilitate or replace structurally
deficient and functionally obsolete bridges in all States.
(2) Calculation of total cost.--
(A) Categories of bridges.--The Secretary shall place each
structurally deficient or functionally obsolete bridge into 1
of the following categories:
(i) Federal-aid highway bridges eligible for
rehabilitation.
(ii) Federal-aid highway bridges eligible for replacement.
(iii) Bridges not on Federal-aid highways eligible for
rehabilitation.
(iv) Bridges not on Federal-aid highways eligible for
replacement.
(B) Calculation.--For purposes of the calculation under
paragraph (1), the Secretary shall multiply the deck area of
structurally deficient and functionally obsolete bridges in
each category described in subparagraph (A) by the respective
unit price on a State-by-State basis, as determined by the
Secretary, to determine the total cost to rehabilitate or
replace bridges in each State.
(C) Data used in making determinations.--The Secretary
shall make determinations under this subsection based on the
latest available data, which shall be updated not less than
annually.
(D) Use of existing inventories.--To the extent
practicable, the Secretary shall make determinations under
this subsection using inventories prepared under section 144
of title 23, United States Code.
(d) Use of Funds.--Funds apportioned to a State under the
program established under subsection (b) shall--
(1) be used by that State for the rehabilitation and
replacement of eligible bridges;
(2) except as otherwise specified in this section, be
administered as if apportioned under chapter 1 of title 23,
United States Code, except that the funds shall not be
transferable;
(3) be subject to the requirements described in section
1101(b) of MAP-21 (23 U.S.C. 101 note; 126 Stat. 414) in the
same manner as amounts made available for programs under
divisions A and B of that Act; and
(4) not be subject to any limitation on obligations for
Federal-aid highways or highway safety construction programs
set forth in any Act.
(e) Condition at Project Completion.--A bridge that is
rehabilitated or replaced under the program established under
subsection (b) may not be structurally deficient,
functionally obsolete, or fracture critical upon the
completion of the rehabilitation or replacement.
(f) Federal Share.--The Federal share of the cost of a
project carried out with funds apportioned to a State under
the program established under subsection (b) shall be 100
percent.
(g) Reapportionment of Unobligated Funds.--Any funds
apportioned to a State under the program established under
subsection (b) and not obligated by that State at the end of
the third fiscal year beginning after the fiscal year during
which the funds were apportioned shall be withdrawn from that
State and reapportioned by the Secretary to States that have
not had funds withdrawn under this subsection in accordance
with the formula specified in subsection (b).
(h) Nonsubstitution.--In carrying out the program
established under subsection (b), the Secretary shall ensure
that funding made available to a State under the program
supplements, and does not supplant--
(1) other Federal funding made available for the
rehabilitation or replacement of eligible bridges; and
(2) the planned obligations of that State with respect to
eligible bridges.
(i) Report.--Not later than 1 year after the date of
enactment of this Act, and each year thereafter if States
obligated funds apportioned under the program established
under subsection (b) during that year, the Secretary shall
submit to the Committee on Transportation and Infrastructure
of the House of Representatives and the Committee on
Environment and Public Works of the Senate a report that
describes the amounts obligated by each State for projects
under the program.
(j) Authorization of Appropriations.--There is authorized
to be appropriated out of the Highway Trust Fund (other than
the Mass Transit Account) to carry out this section (other
than subsection (k)) $2,000,000,000 for each of fiscal years
2016 through 2018.
(k) Offset.--
(1) In general.--Section 7701 of the Internal Revenue Code
of 1986 is amended by redesignating subsection (p) as
subsection (q) and by inserting after subsection (o) the
following new subsection:
``(p) Certain Corporations Managed and Controlled in the
United States Treated as Domestic for Income Tax.--
``(1) In general.--Notwithstanding subsection (a)(4), in
the case of a corporation described in paragraph (2) if--
``(A) the corporation would not otherwise be treated as a
domestic corporation for purposes of this title, but
``(B) the management and control of the corporation occurs,
directly or indirectly, primarily within the United States,
then, solely for purposes of chapter 1 (and any other
provision of this title relating to chapter 1), the
corporation shall be treated as a domestic corporation.
``(2) Corporation described.--
``(A) In general.--A corporation is described in this
paragraph if--
``(i) the stock of such corporation is regularly traded on
an established securities market, or
``(ii) the aggregate gross assets of such corporation (or
any predecessor thereof), including assets under management
for investors, whether held directly or indirectly, at any
time during the taxable year or any preceding taxable year is
$50,000,000 or more.
``(B) General exception.--A corporation shall not be
treated as described in this paragraph if--
``(i) such corporation was treated as a corporation
described in this paragraph in a preceding taxable year,
``(ii) such corporation--

``(I) is not regularly traded on an established securities
market, and
``(II) has, and is reasonably expected to continue to have,
aggregate gross assets (including assets under management for
investors, whether held directly or indirectly) of less than
$50,000,000, and

``(iii) the Secretary grants a waiver to such corporation
under this subparagraph.
``(3) Management and control.--
``(A) In general.--The Secretary shall prescribe
regulations for purposes of determining cases in which the
management and control of a corporation is to be treated as
occurring primarily within the United States.
``(B) Executive officers and senior management.--Such
regulations shall provide that--
``(i) the management and control of a corporation shall be
treated as occurring primarily within the United States if
substantially all of the executive officers and senior
management of the corporation who exercise day-to-day
responsibility for making decisions involving strategic,
financial, and operational policies of the corporation are
located primarily within the United States, and
``(ii) individuals who are not executive officers and
senior management of the corporation (including individuals
who are officers or employees of other corporations in the
same chain of corporations as the corporation) shall be
treated as executive officers and senior management if such
individuals exercise the day-to-day responsibilities of the
corporation described in clause (i).
``(C) Corporations primarily holding investment assets.--
Such regulations shall also provide that the management and
control of a corporation shall be treated as occurring
primarily within the United States if--
``(i) the assets of such corporation (directly or
indirectly) consist primarily of assets being managed on
behalf of investors, and
``(ii) decisions about how to invest the assets are made in
the United States.''.
(2) Revenues placed in highway trust fund.--Section 9503(b)
of the Internal Revenue Code of 1986 is amended by adding at
the end the following new paragraph:
``(7) Certain other amounts.--There are hereby appropriated
to the Highway Trust Fund amounts equivalent to the revenues
received in the Treasury which are attributable to the
amendments made by section 11__ (k)(1) of the DRIVE Act.''.
(3) Effective date.--The amendments made by paragraph (1)
shall apply to taxable years beginning on or after the date
which is 2 years after the date of the enactment of this Act,
whether or not regulations are issued under section
7701(p)(3) of the Internal Revenue Code of 1986, as added by
this subsection.

[[Page S5552]]

______