MASTER CREDIT AGREEMENTS.

SEC. 11608. MASTER CREDIT AGREEMENTS. Section 502 (45 U.S.C. 822) is further amended by adding at the end the following: “(m) Master credit agreements.— “(1) In general.—Subject to subsection (d) and paragraph (2) of this subsection, the Secretary may enter into a master credit agreement that is contingent on all of the conditions for the provision of a direct loan or loan guarantee, as applicable, under this title and other applicable requirements being satisfied prior to the issuance of the direct loan or loan guarantee. “(2) Conditions.—Each master credit agreement shall— “(A) establish the maximum amount and general terms and conditions of each applicable direct loan or loan guarantee; “(B) identify 1 or more dedicated non-Federal revenue sources that will secure the repayment of each applicable direct loan or loan guarantee; “(C) provide for the obligation of funds for the direct loans or loan guarantees contingent on and after all requirements have been met for the projects subject to the master credit agreement; and “(D) provide 1 or more dates, as determined by the Secretary, before which the master credit agreement results in each of the direct loans or loan guarantees or in the release of the master credit agreement.” .