; reports to the President and Congress. Sec. 206. Effect on other laws. TITLE III—Funding of IFA Sec. 301. Fees. Sec. 302. Self-sufficiency of IFA. Sec. 303. Funding. Sec. 304. Contract authority. Sec. 305. Limitation on authority. TITLE IV—Tax exemption requirements for State and local bonds Sec. 401. National limitation on amount of tax-exempt financing for facilities. TITLE V—Budgetary effects Sec. 501. Budgetary effects. 2. Purpose The purpose of this Act is to facilitate investment in, and the long-term financing of, economically viable eligible infrastructure projects of regional or national significance that are in the public interest in a manner that complements existing Federal, State, local, and private funding sources for these projects and introduces a merit-based system for financing those projects, in order to mobilize significant private sector investment, create long-term jobs, and ensure United States competitiveness through a self-sustaining institution that limits the need for ongoing Federal funding. 3. Definitions In this Act: (1) Blind trust The term blind trust means a trust in which the beneficiary has no knowledge of the specific holdings and no rights over how those holdings are managed by the fiduciary of the trust prior to the dissolution of the trust. (2) Board of Directors The term Board of Directors means the Board of Directors of IFA. (3) Chairperson The term Chairperson means the Chairperson of the Board of Directors of IFA. (4) Chief executive officer The term Chief Executive Officer means the chief executive officer of IFA, appointed under section 103. (5) Cost The term cost has the meaning given the term in section 502 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a ). (6) Direct loan The term direct loan has the meaning given the term in section 502 of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a ). (7) Eligible entity The term eligible entity means— (A) an individual; (B) a corporation; (C) a partnership, including a public-private partnership