A bill to amend title 23, United States Code, to include a payment and performance security requirement for certain infrastructure financing, and for other purposes.
Promoting Infrastructure by Protecting Our Subcontractors and Taxpayers Act
This bill revises the transportation infrastructure finance and innovation program to require the Department of Transportation (DOT) to ensure that the design and construction of a project carried out under the program must have appropriate payment and performance security, regardless of whether the obligor is a state, local government, agency or instrumentality of a state or local government, public authority, or private party.
DOT may accept such payment and performance security requirements if it makes a written determination that the federal interest is adequately protected.
Referred to the Subcommittee on Highways and Transit.
Introduced in Senate
Read twice and referred to the Committee on Environment and Public Works.
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