The investment program shall operate in compliance with: (1) Federal law and program guidance applicable to state infrastructure banks, including capitalization, use-of-funds, and reporting requirements established under 23 U.S.C. 610, or any other applicable federal law, as such federal law existed on January 1, 2026; (2) State fiscal and procurement laws, except where specific exemptions are provided under the Infrastructure Development Investment Program Act; and (3) Any cooperative agreements entered into with the United States Department of Transportation and its operating administrations or other federal agencies.
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