Promoting Infrastructure by Protecting Our Subcontractors and Taxpayers Act

“(3) Payment and performance security—The Secretary shall ensure that the design and construction of a project carried out with assistance under this section shall have appropriate payment and performance security, regardless of whether the obligor is a State, local government, agency or instrumentality of a State or local government, public authority, or private party. If such obligor is a State, local government, agency or instrumentality of a State or local government, or public authority, and payment and performance security is required to be furnished by applicable statute or regulation, the Secretary may accept such payment and performance security requirements applicable to the obligor if the Secretary has made a written determination that the Federal interest is adequately protected. If a determination under this paragraph has not been made or there are no payment and performance security requirements applicable to the obligor, the security under section 3131(b) of title 40 shall be required.”