The Secretary of Transportation shall establish a Council on Credit and Finance in accordance with this section.
(1) In general.—The Council shall be composed of the following members:
(2) Additional members.—
The Secretary may designate up to 3 additional officials of the Department to serve as at-large members of the Council.
(3) Chairperson and vice chairperson.—
The Deputy Secretary of Transportation shall serve as the chairperson of the Council.
(c) Duties.—The Council shall—
review applications for assistance submitted under the programs referred to in subparagraphs (A), (B), and (C) of section 116(d)(1);
review applications for assistance submitted under the program referred to in section 116(d)(1)(D), as determined appropriate by the Secretary;
make recommendations to the Secretary regarding the selection of projects to receive assistance under such programs;