text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Environmental Finance Act of 1995''.
  
  SEC. 2. PURPOSE.
  
      The purpose of this Act is to require--
              (1)(A) the Administrator of the Environmental Protection 
          Agency to establish an Environmental Financial Advisory Board 
          to provide expert advice and recommendations to Congress and 
          the Administrator on issues, trends, options, innovations, and 
          tax matters affecting the cost and financing of environmental 
          protection by State and local governments; and
              (B) the Board to study methods to--
                      (i) lower costs of environmental infrastructure and 
                  services;
                      (ii) increase investment in public and private 
                  environmental infrastructure; and
                      (iii) build State and local capacity to plan and 
                  pay for environmental infrastructure and services; and
              (2)(A) the Administrator to establish and support 
          Environmental Finance Centers in institutions of higher 
          education;
              (B) the Centers to carry out activities to improve the 
          capability of State and local governments to manage 
          environmental programs; and
              (C) the Administrator to provide Federal funding to the 
          Centers, with a goal that the Centers will eventually become 
          financially self-sufficient.
  
  SEC. 3. DEFINITIONS.
  
      In this Act:
              (1) Administrator.--The term ``Administrator'' means the 
          Administrator of the Environmental Protection Agency.
              (2) Board.--The term ``Board'' means the Environmental 
          Financial Advisory Board established under section 4.
              (3) Center.--The term ``Center'' means an Environmental 
          Finance Center established under section 5.
  
  SEC. 4. ENVIRONMENTAL FINANCIAL ADVISORY BOARD.
  
      (a) In General.--The Administrator shall establish an Environmental 
  Financial Advisory Board to provide expert advice on issues affecting 
  the costs and financing of environmental activities at the Federal, 
  State, and local levels. The Board shall report to the Administrator, 
  and shall make the services and expertise of the Board available to 
  Congress.
      (b) Membership.--
              (1) In general.--The Board shall consist of 35 members 
          appointed by the Administrator.
              (2) Terms.--A member of the Board shall serve for a term of 
          2 years, except that 20 of the members initially appointed to 
          the Board shall serve for a term of 1 year.
              (3) Qualifications.--The members of the Board shall be 
          individuals with expertise in financial matters and shall be 
          chosen from among elected officials and representatives of 
          national trade and environmental organizations, the financial, 
          banking, and legal communities, business and industry, and 
          academia.
              (4) Chairperson and vice chairperson.--The members of the 
          Board shall elect a Chairperson and Vice Chairperson, who shall 
          each serve a term of 2 years.
      (c) Duties.--After establishing appropriate rules and procedures 
  for the operations of the Board, the Board shall--
              (1) work with the Science Advisory Board, established by 
          section 8 of the Environmental Research, Development, and 
          Demonstration Act of 1978 (42 U.S.C. 4365), to identify and 
          develop methods to integrate risk and finance considerations 
          into environmental decisionmaking;
              (2) identify and examine strategies to enhance 
          environmental protection in urban areas, reduce 
          disproportionate risks facing urban communities, and promote 
          economic revitalization and environmentally sustainable 
          development;
              (3) develop and recommend initiatives to expand 
          opportunities for the export of United States financial 
          services and environmental technologies;
              (4) develop alternative financing mechanisms to assist 
          State and local governments in paying for environmental 
          programs;
              (5) develop alternative financing mechanisms and strategies 
          to meet the unique needs of small and economically 
          disadvantaged communities; and
              (6) undertake such other activities as the Board determines 
          will further the purpose of this Act.
      (d) Recommendations.--The Board may recommend to Congress and the 
  Administrator legislative and policy initiatives to make financing for 
  environmental protection more available and less costly.
      (e) Open Meetings.--The Board shall hold open meetings and seek 
  input from the public and other interested parties in accordance with 
  the Federal Advisory Committee Act (5 U.S.C. App.) and shall otherwise 
  be subject to the Act.
      (f) Authorization of Appropriations.--There are authorized to be 
  appropriated to carry out this section $1,000,000 for each of fiscal 
  years 1996 through 2000.
  
  SEC. 5. ENVIRONMENTAL FINANCE CENTERS.
  
      (a) In General.--The Administrator shall establish and support an 
  Environmental Finance Center in an institution of higher education in 
  each of the regions of the Environmental Protection Agency.
      (b) Duties and Powers.--A Center shall coordinate the activities of 
  the Center with the Board and may--
              (1) provide on-site and off-site training of State and 
          local officials;
              (2) publish newsletters, course materials, proceedings, and 
          other publications relating to financing of environmental 
          infrastructure;
              (3) initiate and conduct conferences, seminars, and 
          advisory panels on specific financial issues relating to 
          environmental programs and projects;
              (4) establish electronic database and contact services to 
          disseminate information to public entities on financing 
          alternatives for State and local environmental programs;
              (5) generate case studies and special reports;
              (6) develop inventories and surveys of financial issues and 
          needs of State and local governments;
              (7) identify financial programs, initiatives, and 
          alternative financing mechanisms for training purposes;
              (8) hold public meetings on finance issues; and
              (9) collaborate with another Center on projects and 
          exchange information.
      (c) Grants.--The Administrator may make grants to institutions of 
  higher education to carry out this section.
      (d) Authorization of Appropriations.--There are authorized to be 
  appropriated to carry out this section $2,500,000 for each of fiscal 
  years 1996 through 2000.
target: Environmental Finance Act of 1995 - Directs the Administrator of the Environmental Protection Agency (EPA) to establish:  (1) an Environmental Financial Advisory Board to provide expert advice on issues affecting the costs and financing of environmental activities at the Federal, State, and local levels; and (2) Environmental Finance Centers in institutions of higher education in each of the regions of the EPA. 
  Authorizes the Centers to:  (1) provide training of State and local officials; (2) publish materials relating to financing of environmental infrastructure; (3) conduct conferences and advisory panels on specific environmental finance issues; (4) establish information services; (5) generate case studies and reports; (6) develop surveys of financial issues and needs of State and local governments; (7) identify financial programs and alternative financing mechanisms for training purposes; (8) hold public meetings; and (9) collaborate and exchange information. 
  Permits the Administrator to make grants to institutions of higher education to carry out the Center program. 
  Authorizes appropriations.
feat_title: Environmental Finance Act of 1995