§ 117. Council on Credit and Finance

• (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.