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Railroad Rehabilitation and Financing Innovation Act

Introduced: February 25, 2021 Introduced by: Thune, John Republican · South Dakota See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2021
Read twice and referred to the Committee on Commerce, Science, and Transportation. (text: CR S894-899)
Feb 25, 2021
Introduced in Senate
 Plain-English summary Congressional Research Service

Railroad Rehabilitation and Financing Innovation Act

This bill revises and reauthorizes through FY2026 the Railroad Rehabilitation and Improvement Financing loan program of the Department of Transportation (DOT).

For example, the bill revises the program to direct DOT to provide direct loans and loan guarantees to private entities with controlling ownership in one or more freight railroads other than Class 1 carriers.

Additionally, the bill provides DOT with flexibility in evaluating the types of collateral an applicant or infrastructure partner may propose under the program.

The bill also establishes an expedited application review process under the program for loans meeting certain financial and operational criteria. DOT must also provide applicants with regular updates on the status of their applications.

What's happening now February 25, 2021

Read twice and referred to the Committee on Commerce, Science, and Transportation. (text: CR S894-899)

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1