Determination of eligibility and project selection

The Secretary shall establish and carry out a carbon dioxide transportation infrastructure finance and innovation program, under which the Secretary shall provide for eligible projects in accordance with this part— A project shall be eligible to receive a Federal credit instrument or a grant under the CIFIA program if— Each project and obligor that receives a Federal credit instrument or a grant under the CIFIA program shall be creditworthy, such that there exists a reasonable prospect of repayment of the principal and interest on the Federal credit instrument, as determined by the Secretary under subparagraph (B). The Secretary shall base a determination of whether there is a reasonable prospect of repayment under subparagraph (A) on a comprehensive evaluation of whether the obligor has a reasonable prospect of repaying the Federal credit instrument for the eligible project, including evaluation of— the projected financial strength of the obligor— To be eligible for assistance under the CIFIA program, an obligor shall submit to the Secretary a project application at such time, in such manner, and containing such information as the Secretary determines to be appropriate. A project under the CIFIA program shall have eligible project costs that are reasonably anticipated to equal or exceed $100,000,000. The applicable Federal credit instrument shall be repayable, in whole or in part, from— A State, local government, agency, or instrumentality of a State or local government, or a public authority, may submit to the Secretary an application under paragraph (3), under which a private party to a public-private partnership will be— The Secretary shall determine that financial assistance for each project under the CIFIA program will— To be eligible for assistance under the CIFIA program, the applicant shall demonstrate a reasonable expectation that the contracting process for construction of the project can commence by not later than 90 days after the date on which a Federal credit instrument or grant is obligated for the project under the CIFIA program. The Secretary shall establish an application process under which projects that are eligible to receive assistance under subsection (b) may— receive grants under section 16374 of this title if— In selecting projects to receive credit assistance under subsection (b), the Secretary shall give priority to projects that— The Secretary may enter into a master credit agreement for a project that the Secretary determines— will likely be eligible for credit assistance under subsection (b), on obtaining— If the Secretary fully obligates funding to eligible projects for a fiscal year and adequate funding is not available to fund a Federal credit instrument, a project sponsor (including a unit of State or local government) of an eligible project may elect— Nothing in this part supersedes the applicability of any other requirement under Federal law (including regulations). Federal credit assistance may only be provided under this part for a project that has received an environmental categorical exclusion, a finding of no significant impact, or a record of decision under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.). Except as provided in paragraph (2), no Federal credit instrument or grant provided under the CIFIA program shall be made available for a project unless all iron, steel, and manufactured goods used in the project are produced in the United States. Paragraph (1) shall not apply in any case or category of cases with respect to which the Secretary determines that— If the Secretary receives a request for a waiver under this subsection, the Secretary shall— make available to the public a copy of the request, together with any information available to the Secretary concerning the request— This subsection shall be applied in accordance with any applicable obligations of the United States under international agreements. Not later than 30 days after the date of receipt of an application under this section, the Secretary shall provide to the applicant a written notice describing whether— Not later than 60 days after the date of issuance of a written notice under paragraph (1), the Secretary shall provide to the applicant a written notice informing the applicant whether the Secretary has approved or disapproved the application. Any Federal credit instrument provided under the CIFIA program may be used to finance up to 100 percent of the cost of development-phase activities, as described in section 16371(4)(A) of this title.