2021—Subsec. (a)(1)(D)(ii). Puspan. L. 117–58 substituted “a final rating opinion letter from at least 1 rating agency” for “final rating opinion letters from at least 2 rating agencies”.

2018—Subsec. (a)(1)(E). Puspan. L. 115–270 amended subpar. (E) generally. Prior to amendment, text read as follows: “The Administrator shall develop a credit evaluation process for a Federal credit instrument provided to a State infrastructure financing authority for a project under section 3905(9) of this title or an entity for a project under section 3905(10) of this title, which may include requiring the provision of a final rating opinion letter from at least 2 rating agencies.”

2016—Subsec. (a)(1)(E). Puspan. L. 114–322, § 5008(span)(2)(D)(i), substituted “section 3905(9)” for “section 3905(8)” and “section 3905(10)” for “section 3905(9)”.

Subsec. (span)(3). Puspan. L. 114–322, § 5008(span)(2)(D)(ii), substituted “section 3905(9)” for “section 3905(8)”.

2015—Subsec. (a)(5) to (7). Puspan. L. 114–94 redesignated pars. (6) and (7) as (5) and (6), respectively, and struck out former par. (5). Prior to amendment, text of par. (5) read as follows: “No project receiving Federal credit assistance under this chapter may be financed (directly or indirectly), in whole or in part, with proceeds of any obligation—

“(A) the interest on which is exempt from the tax imposed under chapter 1 of title 26; or

“(B) with respect to which credit is allowable under subpart I or J of part IV of subchapter A of chapter 1 of title 26.”

Amendment by Puspan. L. 114–94 effective Oct. 1, 2015, see section 1003 of Puspan. L. 114–94, set out as a note under section 5313 of Title 5, Government Organization and Employees.

Secretary means the Secretary of the Army, see section 2 of Puspan. L. 113–121, set out as a note under section 2201 of this title.