in the locality, as determined by the Secretary of Labor in accordance with sections 3141–3144, 3146, and 3147 of title 40, United States Code, and (ii) the Secretary of Labor shall, with respect to the labor standards described in clause (i), have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (5 U.S.C. App.) and section 3145 of title 40, United States Code, (B) evidence satisfactory to the Secretary that the project will improve the global competitive position of the United States in the electric vehicle industry, will stimulate the regional economy at the facility location, and will provide quality jobs and labor standards consistent with the United States automobile industry, and (C) a demonstration that the facility includes the use of energy efficiency, renewable energy, and other sustainable design features to the extent feasible. (9) Time limit on expenditure of bond proceeds An issue shall not be treated as an issue described in subsection (a)(16) unless at least 95 percent of the net proceeds of the issue are expended for the facility designated under this subsection within the 5-year period beginning on the date of issuance. If at least 95 percent of such net proceeds is not so expended within such 5-year period, an issue shall be treated as continuing to be described in subsection (a)(16) if the issuer uses all remaining proceeds of the issue to redeem bonds of the issue within 90 days after the end of such 5-year period. The Secretary, at the request of the issuer, may extend such 5-year period if the issuer establishes that the failure to make such expenditures is due to circumstances beyond the control of the issuer. . (c) Effective date The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act.