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 of pilot program 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 in accordance with this section. (c) Purposes The purposes of the pilot program are— (1) to identify the extent of the demand to purchase toll credits; (2) to identify the cash price of toll credits through bilateral transactions between participating States; (3) to analyze the impact of the purchase or sale of toll credits on transportation expenditures; and (4) to test the feasibility of expanding the toll credit market to allow all States to participate on a permanent basis. (d) Participants The Secretary shall select not fewer than 10 States to participate in the pilot program. (e) Administration In carrying out the pilot program, the Secretary— (1) shall establish procedures for a toll credit marketplace; (2) not later than 90 days after the date of enactment of this Act, shall provide notice to States that the Secretary is requesting participants for the pilot program