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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
3/27/2014--Introduced. Pipeline Revolving Fund and Job Creation Act - Directs the Administrator of the Pipeline and Hazardous Materials Safety Administration to offer to enter into agreements to make capitalization grants, including letters of credit, to eligible states for the repair or replacement of natural gas distribution pipelines.
Requires grant funds to be deposited into state revolving loan funds to provide loans or loan guarantees to: (1) facilitate compliance with an intended use plan, or (2) repair or replace those pipelines that have been identified as leak-prone.
Prohibits the use of funds from loans or loan guarantees made by a state to repair or replace natural gas distribution pipelines unless all of the iron, steel, plastic, and manufactured goods used in the repair or replacement are produced in the United States (Buy America).