article: 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.
summary: 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.