S.Amdt. 2549

SA 2549. Mr. CASEY submitted an amendment intended to be proposed to
amendment SA 2137 proposed by Mr. Schumer (for Ms. Sinema (for herself,
Mr. Portman, Mr. Manchin, Mr. Cassidy, Mrs. Shaheen, Ms. Collins, Mr.
Tester, Ms. Murkowski, Mr. Warner, and Mr. Romney)) to the bill H.R.
3684, 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:

At the end of division H, insert the following:

TITLE VII--QUALIFIED COMMUNITY COLLEGE BONDS

SEC. 80701. SHORT TITLE.

This title may be cited as the ``Community College
Infrastructure Act of 2021''.

SEC. 80702. TAX CREDIT FOR QUALIFIED COMMUNITY COLLEGE BONDS.

(a) In General.--Part IV of subchapter A of chapter 1 of
the Internal Revenue Code of 1986 is amended by inserting
after subpart G the following new subpart:

``Subpart H--Qualified Community College Bonds

``SEC. 54. QUALIFIED COMMUNITY COLLEGE BONDS.

``(a) Qualified Community College Bonds.--For purposes of
this subchapter, the term `qualified community college bond'
means any bond issued as part of an issue if--
``(1) 95 percent of the available project proceeds of such
issue are to be used for a qualified purpose with respect to
a qualified community college,
``(2) the bond is issued by a State or local government in
consultation with the jurisdictions of which such college is
located, and
``(3) the issuer--
``(A) designates such bond for purposes of this section,
and
``(B) certifies that it has the written approval of the
governing body for such bond issuance.
``(b) Limitation on Amount of Bonds Designated.--
``(1) National limitation.--There is a national community
college bond limitation of $400,000,000 for each calendar
year.
``(2) Allocation of limitation.--
``(A) In general.--The national community college bond
limitation for a calendar year shall be allocated by the
Secretary

[[Page S5874]]

among the States on the basis of their respective populations
of individuals below the poverty line (as defined by the
Office of Management and Budget).
``(B) Limitation per state.--For purposes of subparagraph
(A), a State may not receive an allocation of more than 5
percent of the national community college bond limitation in
any calendar year.
``(C) Allocations to governing bodies.--
``(i) In general.--The limitation amount allocated to a
State under subparagraph (A) shall be allocated by the State
to the appropriate governing bodies within such State.
``(ii) Priority for allocations.--

``(I) Largest metropolitan statistical area.--For purposes
of this subparagraph, the State education agency shall, as
applicable, ensure that the governing body for a proposed
qualified community college which will serve the residents of
the largest metropolitan statistical area within such State
which does not contain an institution described in subsection
(c)(2)(A) receives an allocation equal to the lesser of--

``(aa) one-third of the total allocation to the State under
subparagraph (A), or
``(bb) the allocation amount requested by such governing
body.

``(II) Additional priorities for allocation.--For purposes
of making allocations under this subparagraph, the State
education agency shall give priority to any governing body
which has or will have--

``(aa) a partnership, including a dual or concurrent
enrollment program (as defined in section 8101 of the
Elementary and Secondary Education Act of 1965 (20 U.S.C.
7801)), with local high schools,
``(bb) a partnership with four-year institutions of higher
education, including a credit-transfer agreement or
articulation agreement (as defined in section 486A(a) of the
Higher Education Act of 1965 (20 U.S.C. 1093a(a))), for
students at the qualified community college, or
``(cc) a partnership with a State workforce development
board established under section 101 of the Workforce
Innovation and Opportunity Act (29 U.S.C. 3102).
``(3) Designation subject to limitation amount.--The
maximum aggregate face amount of bonds issued during any
calendar year which may be designated under subsection (a)
with respect to any qualified community college shall not
exceed the limitation amount allocated to the governing body
of such college under paragraph (2)(C) for such calendar
year.
``(4) Carryover of unused limitation.--
``(A) In general.--If for any calendar year--
``(i) the limitation amount for any State, exceeds
``(ii) the amount of bonds issued during such year which
are designated under subsection (a) with respect to qualified
community colleges within such State,
the limitation amount for such State for the following
calendar year shall be increased by the amount of such
excess.
``(B) Limitation on carryover.--Any carryover of a
limitation amount may be carried only to the first 2 years
following the unused limitation year. For purposes of the
preceding sentence, a limitation amount shall be treated as
used on a first-in first-out basis.
``(C) Allocation of unused carryover amount.--
``(i) In general.--Any unused carryover amount of a State
for any calendar year shall be assigned to the Secretary for
allocation among qualified States for the succeeding calendar
year, with such allocations to be in addition to the amounts
allocated pursuant to paragraph (2)(A).
``(ii) Formula for allocation.--The amount allocated under
this subparagraph to a qualified State for any calendar year
shall be the amount determined by the Secretary to bear the
same ratio to the aggregate unused carryover amounts of all
States for the preceding calendar year as such State's
population for the calendar year bears to the population of
all qualified States for the calendar year. For purposes of
the preceding sentence, population shall be determined in
accordance with section 146(j).
``(iii) Definitions.--For purposes of this subparagraph:

``(I) Unused carryover amount.--The term `unused carryover
amount' means the amount of any carryover of a limitation
amount allocated to a State which has expired pursuant to
subparagraph (B).
``(II) Qualified state.--The term `qualified State' means,
with respect to any calendar year, a State--

``(aa) which allocated its limitation amount for the
preceding calendar year to governing bodies within such State
(as described in paragraph (2)(C)), and
``(bb) for which a request is made (not later than May 1 of
the calendar year) to receive an allocation under this
subparagraph.
``(c) Definitions.--For purposes of this section:
``(1) Governing body.--The term `governing body' means--
``(A) the board of trustees or other governing organization
of a qualified community college, or
``(B) a State or local government (or any political
subdivision thereof), or any combination of school districts
or municipalities, which participate or propose to
participate in the establishment and operation of a qualified
community college.
``(2) Qualified community college.--
``(A) In general.--The term `qualified community college'
means a public institution of higher education--
``(i) at which the highest degree that is predominantly
awarded to students is an associate's degree (including 2-
year tribally controlled colleges under section 316 of the
Higher Education Act of 1965 (20 U.S.C. 1059c) and public 2-
year State institutions of higher education),
``(ii) which is or will be established by and operated
under the supervision of a governing body in conjunction with
the State and local governments whose residents will be
served by such institution, and
``(iii) which is located within a qualified area.
``(B) Qualified area.--For purposes of this paragraph, the
term `qualified area' means--
``(i) a city or metropolitan statistical area for which
there is no institution described in subparagraph (A)(i)
within a 40-mile radius,
``(ii) a county which--

``(I) does not contain any institution described in such
subparagraph, or
``(II) has an unemployment rate equal to or greater than
110 percent of the national average (as determined by the
Secretary of Labor based on the most recent available data),
and

``(iii) a low-income community (as defined in section
45D(e)).
``(3) Qualified purpose.--The term `qualified purpose'
means--
``(A) establishing and operating a qualified community
college,
``(B) expanding an existing qualified community college to
a qualified area,
``(C) constructing, rehabilitating, repairing, upgrading,
enhancing, or expanding any facility owned or to be used by a
qualified community college to carry out the educational
purposes (including instructional and research purposes) of
such college,
``(D) providing equipment for use by students at a
qualified community college,
``(E) investing in online resources or broadband access
projects to deliver qualified community college services to
qualified areas, or developing course materials for education
to be provided by a qualified community college, provided
that such uses do not collectively account for more than 10
percent of the amount allocated under subsection (b)(2)(C) to
the governing body for such college,
``(F) training professors and other school personnel at a
qualified community college, provided that such use does not
account for more than 5 percent of the amount allocated under
subsection (b)(2)(C) to the governing body for such college,
and
``(G) constructing, rehabilitating, repairing, upgrading,
enhancing, or expanding any on-campus facility to be used by
a qualified community college to provide childcare to
students and staff, provided that such use does not account
for more than 10 percent of the amount allocated under
subsection (b)(2)(C) to the governing body for such college.
``(d) Application of Certain Labor Standards to Projects
Financed With Qualified Community Bonds.--
``(1) In general.--Each laborer and mechanic employed by a
contractor or subcontractor in the performance of
construction, alteration, or repair work financed in whole,
or in part, with the proceeds of any qualified community
college bond issued after the date of enactment of the
Community College Infrastructure Act of 2021 shall be paid
wages at rates not less than those prevailing on work of a
similar character in the locality, as determined by the
Secretary of Labor in accordance with subchapter IV of
chapter 31 of title 40, United States Code.
``(2) Authority.--The Secretary of Labor shall have, with
respect to the labor standards described in paragraph (1),
the authority and functions set forth in Reorganization Plan
Numbered 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and
section 3145 of title 40, United States Code.''.
(b) Conforming Amendment.--The table of subparts for part
IV of subchapter A of chapter 1 of the Internal Revenue Code
of 1986 is amended by inserting after the item relating to
subpart G the following:

``subpart h--qualified community college bonds''.

SEC. 80703. CREDIT TO HOLDERS AND ISSUERS OF QUALIFIED
COMMUNITY COLLEGE BONDS.

(a) Allowance of Credit.--
(1) In general.--Section 54A of the Internal Revenue Code
of 1986, as in effect on the day before repeal by Public Law
115-97, is revived.
(2) Credit limited to qualified community college bonds.--
Section 54A(d) of such Code is amended--
(A) by striking paragraph (1) and inserting the following:
``(1) Qualified tax credit bond.--The term `qualified tax
credit bond' means a qualified community college bond which
is part of an issue that meets requirements of paragraphs
(2), (3), (4), (5), and (6).'', and
(B) in paragraph (2), by striking subparagraph (C) and
inserting the following:
``(C) Qualified purpose.--For purposes of this paragraph,
the term `qualified purpose' means a purpose specified in
section 54(c)(3).''.
(b) Credit Allowed to Issuer.--
(1) In general.--Section 6431 of the Internal Revenue Code
of 1986, as in effect on the day before repeal by Public Law
115-97, is revived.
(2) Conforming amendments.--
(A) Section 6431(f) of such Code, as revived by paragraph
(1), is amended by striking

[[Page S5875]]

paragraphs (2) and (3) and inserting the following:
``(2) Specified tax credit bond.--For purposes of this
subsection, the term `specified tax credit bond' means any
qualified tax credit bond (as defined in section 54A(d)(1))
if the issuer of such bond makes an irrevocable election to
have this subsection apply.''.
(B) Subparagraph (A) of section 6211(b)(4) of the Internal
Revenue Code of 1986 is amended by striking ``and 6428A'' and
inserting ``6428A, and 6431''.

SEC. 80704. GREEN BUILDING PRACTICES.

(a) In General.--In carrying out a new construction or
renovation project using any available project proceeds from
the issuance of any qualified community college bond (as
defined in subsection (a) of section 54 of the Internal
Revenue Code of 1986), a governing body (as defined in
subsection (c)(1) of such section) shall use, of those
proceeds, not less than the applicable percentage described
in subsection (b) for construction or renovation that is
certified, verified, or consistent with the applicable
provisions of--
(1) the Leadership in Energy and Environmental Design green
building rating standard of the United States Green Building
Council;
(2) the Living Building Challenge green building
certification program developed by the International Living
Future Institute;
(3) a green building rating program developed by the
Collaborative for High-Performance Schools that is designated
as CHPS Verified; or
(4) a green building program that--
(A) has standards that are equivalent to or more stringent
than the standards of a program described in paragraph (1),
(2), or (3);
(B) is adopted by the State or another jurisdiction with
authority over the local educational agency; and
(C) includes a verifiable method to demonstrate compliance
with the program.
(b) Applicable Percentage Described.--The applicable
percentage referred to in subsection (a) is--
(1) for fiscal year 2022, 60 percent;
(2) for fiscal year 2023, 70 percent;
(3) for fiscal year 2024, 80 percent;
(4) for fiscal year 2025, 90 percent; and
(5) for each of fiscal years 2026 through 2031, 100
percent.

SEC. 80705. USE OF AMERICAN IRON, STEEL, AND MANUFACTURED
PRODUCTS.

(a) In General.--A governing body (as defined in subsection
(c)(1) of section 54 of the Internal Revenue Code of 1986)
that receives covered funds shall ensure that any iron,
steel, and manufactured products used in projects carried out
with such funds are produced in the United States.
(b) Waiver Authority.--
(1) In general.--The Secretary may waive the requirement of
subsection (a) if the Secretary determines that--
(A) applying subsection (a) would be inconsistent with the
public interest;
(B) iron, steel, and manufactured products produced in the
United States are not produced in a sufficient and reasonably
available amount or are not of a satisfactory quality; or
(C) using iron, steel, and manufactured products produced
in the United States will increase the cost of the overall
project by more than 25 percent.
(2) Publication.--Before issuing a waiver under paragraph
(1), the Secretary shall publish in the Federal Register a
detailed written explanation of the waiver determination.
(c) Consistency With International Agreements.--This
section shall be applied in a manner consistent with the
obligations of the United States under international
agreements.
(d) Definitions.--In this section:
(1) Covered funds.--The term ``covered funds'' means any
available project proceeds from the issuance of any qualified
community college bond (as defined in section 54(a) of the
Internal Revenue Code of 1986).
(2) Manufactured product.--The term ``manufactured
product'' means any construction material or end product (as
such terms are defined in part 25.003 of the Federal
Acquisition Regulation) that is not an iron or steel product,
including--
(A) electrical components; and
(B) non-ferrous building materials, including aluminum and
polyvinylchloride (PVC), glass, fiber optics, plastic, wood,
masonry, rubber, manufactured stone, any other non-ferrous
metals, and any unmanufactured construction material.
(3) Produced in the united states.--The term ``produced in
the United States'' means the following:
(A) When used with respect to a manufactured product, the
product was manufactured in the United States and the cost of
the components of such product that were mined, produced, or
manufactured in the United States exceeds 60 percent of the
total cost of all components of the product.
(B) When used with respect to iron or steel products, or an
individual component of a manufactured product, all
manufacturing processes for such iron or steel products or
components, from the initial melting stage through the
application of coatings, occurred in the United States,
except that the term does not include--
(i) steel or iron material or products manufactured abroad
from semi-finished steel or iron from the United States; and
(ii) steel or iron material or products manufactured in the
United States from semi-finished steel or iron of foreign
origin.
(4) Secretary.--The term ``Secretary'' means the Secretary
of Education.

SEC. 80706. EFFECTIVE DATE.

The amendments made by this title shall apply to
obligations issued after the date of the enactment of this
Act.
______