1. Short title This Act may be cited as the Toll Credit Marketplace Act . 2. Toll credit marketplace pilot program (a) Definitions In this section: (1) Pilot program The term pilot program means the toll credit marketplace pilot program established under subsection (b). (2) Secretary The term Secretary means the Secretary of Transportation. (3) State The term State has the meaning given the term in section 101 of title 23, United States Code. (4) Toll credit The term toll credit means the credit that can be used toward the non-Federal share requirement under section 120(i) of title 23, United States Code. (5) Toll credit marketplace The term toll credit marketplace means a market in which toll credits can be purchased and sold by States participating in the pilot program. (b) Establishment Not later than 1 year after the date of enactment of this Act, the Secretary shall establish and implement a pilot program to develop a toll credit marketplace for States to buy and sell toll credits. (c) Purposes The purposes of the pilot program are— (1) to identify whether a monetary value can be assigned to toll credits; (2) to identify the discounted rate of toll credits for cash; (3) to determine if the purchase of toll credits by States provides the purchasing State budget flexibility to deal with funding issues, including off-system needs, transit systems with high operating costs, or cash flow issues; and (4) to test the feasibility of expanding the toll credit market to allow all States to participate on a permanent basis. (d) Administration In carrying out the pilot program, the Secretary— (1) shall establish procedures for a toll credit marketplace; (2) shall establish an online platform that allows participating States to offer and bid on toll credit purchases; (3) not later than 90 days after the date of enactment of this Act, shall provide notice to States that the Federal Highway Administration is requesting participants for the pilot program