HR 3651
117th Congress
House
Transportation and Public Works
RAPID Act
Introduced: June 1, 2021
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 2, 2021
Referred to the Subcommittee on Highways and Transit.
Jun 1, 2021
Referred to the House Committee on Transportation and Infrastructure.
Jun 1, 2021
Introduced in House
Plain-English summary
Revitalizing American Priorities for Infrastructure Development Act or the RAPID Act
This bill revises the transportation infrastructure finance and innovation (TIFIA) program to (1) require program applicants to obtain investment grade ratings from at least two credit rating agencies, unless the federal credit instrument is less than $150 million (currently, less than $75 million), in which case one rating will suffice; (2) require the Department of Transportation (DOT) to implement an expedited decision time line for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.
What's happening now
Referred to the Subcommittee on Highways and Transit.
Committees of jurisdiction
2
Cosponsors
1