HR 5947
116th Congress
House
Transportation and Public Works
Department of Transportation
Government lending and loan guarantees
Infrastructure development
Public-private cooperation
Railroads
Transportation programs funding
Invest in American Railroads Act
Introduced: February 21, 2020
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 24, 2020
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Feb 21, 2020
Referred to the House Committee on Transportation and Infrastructure.
Feb 21, 2020
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Committees of jurisdiction
2