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

This bill aims to establish specific limitations on advance payments made for bus rolling stock. It proposes an amendment to title 49 of the United States Code regarding how recipients use assistance. Under this proposal, a recipient may make an advance payment to a transit vehicle manufacturer without requiring a performance bond or similar financial arrangement. However, there are specific conditions that must be met to use this option. Recipients must have a signed purchase order, an executed contract including advance payment provisions, and preaward authority. Finally, the bill limits any such advance payment to no more than 20 percent of the total purchase order value.