Bill > HR3586

This bill establishes new rules for advance payments when purchasing bus rolling stock (which refers to buses and related transit vehicles) using federal assistance. Specifically, the bill allows transit agencies to make advance payments to vehicle manufacturers without requiring a performance bond, with several key limitations. Recipients can make advance payments up to 20% of the total purchase order value, but only if they have already met certain prerequisites: they must have a signed purchase order and executed contract that includes advance payment provisions, have obtained pre-award authority, and have satisfied existing federal requirements related to transit vehicle procurements. The bill modifies section 5323 of title 49 of the United States Code to create these new provisions, which are designed to provide more flexibility for transit agencies in purchasing new buses while still maintaining financial safeguards. By allowing advance payments without a performance bond, the bill could potentially streamline the bus procurement process and help transit agencies manage their capital investments more efficiently.

Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/house-bill/3586/all-info