SA 916. Mr. DURBIN submitted an amendment intended to be proposed by him to the bill H.R. 2112, making appropriations for Agriculture, Rural Development, Food and Drug Administration, and Related Agencies programs for the fiscal year ending September 30, 2012, and for other purposes; which was ordered to lie on the table; as follows:


On page 286, between lines 6 and 7, insert the following:
SEC. 1__. PROTECTING TAXPAYERS IN TRANSPORTATION ASSET TRANSFERS.
(a) Limitation on Use of Funds.--None of the funds made available to the Department of Transportation by this Act shall be used to promote, finalize, or approve a concession agreement or sale of any public transportation asset unless the State or local government entering into the concession agreement or sale pays to the Secretary an amount determined by the Secretary in accordance with subsection (b).
(b) Determination of Repayment Amount.--The Secretary shall determine the amount required to be paid for purposes of subsection (a) by taking into account, at a minimum--
(1) the total amount of Federal funds that have been expended to construct, maintain, or upgrade the public transportation asset;
(2) the amount of Federal funding received by a State or local government based on inclusion of the public transportation asset in calculations using Federal funding formulas or for Federal block grants;
(3) the reasonable depreciation of the public transportation asset, including the amount of Federal funds described in paragraph (1) that may be offset by that depreciation; and
(4) the loss of Federal tax revenue from bonds relating to, and the tax consequences of depreciation of, the public transportation asset.
(c) Definitions.--In this section:
(1) CONCESSION AGREEMENT.--
(A) IN GENERAL.--The term "concession agreement" means an agreement entered into by a private individual or entity and a State or local government with jurisdiction over a public transportation asset to convey to the private individual or entity the right to manage, operate, and maintain the public transportation asset for a specific period of time in exchange for the authorization to impose and collect a toll or other user fee from a person for each use of the public transportation
asset during that period.
(B) EXCLUSION.--The term "concession agreement" does not include an agreement entered into by a State or local government and a private individual or entity for the construction of any new public transportation asset.
(2) PUBLIC TRANSPORTATION ASSET.--
(A) IN GENERAL.--The term "public transportation asset" means a transportation facility of any kind that was or is constructed, maintained, or upgraded before, on, or after the date of enactment of this Act using Federal funds--
(i)(I) the fair market value of which is more than $500,000,000, as determined by the Secretary; and
(II) that has received any Federal funding, as of the date on which the determination is made;
(ii) the fair market value of which is less than or equal to $500,000,000, as determined by the Secretary; and
(I) that has received $25,000,000 or more in Federal funding, as of the date on which the determination is made; or
(iii) in which a significant national pubic interest (such as interstate commerce, homeland security, public health, or the environment) is at stake, as determined by the Secretary.
(B) INCLUSIONS.--The term "public transportation asset" includes a transportation facility described in subparagraph (A) that is--
(i) a Federal-aid highway (as defined in section 101 of title 23, United States Code);
(ii) a highway or mass transit project constructed using amounts made available from the Highway Account or Mass Transit Account, respectively, of the Highway Trust Fund;
(iii) an air navigation facility (as defined in section 40102(a) of title 49, United States Code); or
(iv) a train station or multimodal station that receives a Federal grant, including any grant authorized under the Passenger Rail Investment and Improvement Act of 2008 (Public Law 110-432; 122 Stat. 4907) or an amendment made by that Act.
(3) SECRETARY.--The term "Secretary" means the Secretary of Transportation.


(As printed in the Congressional Record for the Senate on Oct 20, 2011.)