S. 660

119th CONGRESS 1st Session

To establish limitations on advanced payments for bus rolling stock, and for other purposes.

IN THE SENATE OF THE UNITED STATES · February 20, 2025 · Sponsor: Ms. Smith · Committee: Committee on Banking, Housing, and Urban Affairs

Table of contents

• S. 660
  • SEC. 1. Short title
  • SEC. 2. Limitations on advanced payments for bus rolling stock

SEC. 1. Short title

• This Act may be cited as the Bus Rolling Stock Modernization Act of 2025.

SEC. 2. Limitations on advanced payments for bus rolling stock

• Section 5323 of title 49, United States Code, is amended by adding at the end the following:
  • (w) Limitations on advanced payments for bus rolling stock
    • (1) In general
      • Notwithstanding any provision of this chapter or part 200 of title 2, Code of Federal Regulations, or any successor regulation, a recipient may use assistance made available under this chapter to make an advance payment on a bus rolling stock vehicle without the recipient obtaining pre-approval or requiring a performance bond or other form of security from the transit vehicle manufacturer.
    • (2) Limitations
      • A recipient making an advance payment under paragraph (1)—
      • shall have—
        • (i) a signed purchase order and executed contract with a transit vehicle manufacturer that includes advance payment provisions;
        • (ii) preaward authority; and
        • (iii) met the requirements under subsection (m) and section 5318(e) of this title; and
      • shall not provide an advanced payment that is more than 20 percent of the total purchase order value.