S 941 117th Congress Senate Transportation and Public Works Government information and archives Government lending and loan guarantees Public transit Roads and highways Transportation programs funding

RAPID Act

Introduced: March 24, 2021 Introduced by: Cornyn, John Republican · Texas See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 24, 2021

Read twice and referred to the Committee on Environment and Public Works.

Mar 24, 2021

Introduced in Senate

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Plain-English summary Congressional Research Service

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 March 24, 2021

Read twice and referred to the Committee on Environment and Public Works.

Related & companion bills 3