§117 Council on Credit and Finance

Summary

The Secretary of Transportation must set up a Council on Credit and Finance. It will include top Department officials: the Deputy Secretary (who will be chair), the Under Secretary for Policy, the Chief Financial Officer and Assistant Secretary for Budget and Programs (who will be vice chair), the General Counsel, the Assistant Secretary for Transportation Policy, and the Administrators of the Federal Highway, Federal Transit, and Federal Railroad Administrations. The Secretary may add up to 3 more at-large Department officials. The Executive Director of the National Surface Transportation and Innovative Finance Bureau joins as a nonvoting member. The Council must look over applications for assistance under the programs named in section 116(d)(1) subparagraphs (A), (B), and (C), and may review applications under section 116(d)(1)(D) when the Secretary thinks it appropriate. The Council must recommend which projects should get help, regularly check on projects that received help, and do any other tasks the Secretary assigns.