§117 — Title 49 Transportation | U.S. Code

Summary

The Secretary of Transportation must create a Council on Credit and Finance. It will include eight top DOT officials: the Deputy Secretary; the Under Secretary for Policy; the Chief Financial Officer and Assistant Secretary for Budget and Programs; the General Counsel; the Assistant Secretary for Transportation Policy; and the Administrators of the Federal Highway, Federal Transit, and Federal Railroad Administrations. The Secretary can add up to 3 more DOT officials as at-large members. The Deputy Secretary will chair the Council, and the Chief Financial Officer and Assistant Secretary for Budget and Programs will be vice chair. The Executive Director of the National Surface Transportation and Innovative Finance Bureau is a nonvoting member. The Council must review applications for assistance under the programs listed in section 116(d)(1)(A)–(C), and may review applications under section 116(d)(1)(D) when the Secretary decides it is appropriate. It will recommend which projects should get assistance, regularly review projects that received assistance, and carry out other duties the Secretary assigns.

Title 49, §117

Transportation — Source: USLM XML via OLRC

(a)The Secretary of Transportation shall establish a Council on Credit and Finance in accordance with this section.

(b)(1)The Council shall be composed of the following members:

(A)The Deputy Secretary of Transportation.

(B)The Under Secretary of Transportation for Policy.

(C)The Chief Financial Officer and Assistant Secretary for Budget and Programs.

(D)The General Counsel of the Department of Transportation.

(E)The Assistant Secretary for Transportation Policy.

(F)The Administrator of the Federal Highway Administration.

(G)The Administrator of the Federal Transit Administration.

(H)The Administrator of the Federal Railroad Administration.

(2)The Secretary may designate up to 3 additional officials of the Department to serve as at-large members of the Council.

(3)(A)The Deputy Secretary of Transportation shall serve as the chairperson of the Council.

(B)The Chief Financial Officer and Assistant Secretary for Budget and Programs shall serve as the vice chairperson of the Council.

(4)The Executive Director of the National Surface Transportation and Innovative Finance Bureau shall serve as a nonvoting member of the Council.

(c)The Council shall—

(1)review applications for assistance submitted under the programs referred to in subparagraphs (A), (B), and (C) of section 116(d)(1);

(2)review applications for assistance submitted under the program referred to in section 116(d)(1)(D), as determined appropriate by the Secretary;

(3)make recommendations to the Secretary regarding the selection of projects to receive assistance under such programs;

(4)review, on a regular basis, projects that received assistance under such programs; and

(5)carry out such additional duties as the Secretary may prescribe.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective Oct. 1, 2015, see section 1003 of Pub. L. 114–94, set out as an

Effective Date

of 2015 Amendment note under section 5313 of Title 5, Government Organization and Employees.

§117 Council on Credit and Finance

Summary

Title 49, §117

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata