To establish limitations on advanced payments for bus rolling stock, and for other purposes.

HR 6964 limits how much federal transit agencies can pay upfront for new buses. It requires agencies to have a signed contract with the bus manufacturer, pre-approval, and meet existing rules before making any advance payment. The bill specifically caps advance payments at 20% of the total bus purchase price and prohibits payments without the manufacturer providing a financial guarantee. This directly affects transit agencies receiving federal funds for purchasing bus vehicles. The key change is imposing a strict 20% limit on upfront payments to reduce financial risk.