H.R. 2474 · 117th Congress
Invest in American Railroads Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KusterSponsor2 cosponsors · 1 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises and expands the Railroad Rehabilitation and Improvement Financing program of the Department of Transportation (DOT).
What it does: CRS summary · Introduced in House · Apr 13, 2021
Invest in American Railroads Act
This bill revises and expands the Railroad Rehabilitation and Improvement Financing program of the Department of Transportation (DOT).
Specifically, the bill
- authorizes DOT to pay certain credit risk premiums for loans or loan guarantees;
- requires DOT to set aside at least $100 million for passenger rail projects in a given fiscal year;
- directs DOT to provide loans and loan guarantees to private entities with controlling ownership in one or more freight railroads other than Class I carriers;
- expands eligibility under the loan program to include reimbursement of planning, permitting, and design expenses related to acquiring, improving, or rehabilitating intermodal or rail equipment or facilities;
- sets forth collateral and appraisal standards under the program; and
- allows loan repayment terms to be extended up to 50 years after the date of substantial completion of a project, or the estimated useful life of the rail equipment or facilities to be acquired, rehabilitated, improved, developed, or established.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Invest in American Railroads Act
Latest action (Apr 14, 2021): Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Policy area: Transportation and Public Works · Origin: House · Introduced: Apr 13, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.