Invest in American Railroads Act

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 13 April 2021

   Introduced

   Introduced in House

   Source: IntroReferral

2. 13 April 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 April 2021

   Introduced

   Referred to the House Committee on Transportation and Infrastructure.

   Source: IntroReferral

4. 14 April 2021

   Referred

   Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 13 April 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 April 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 13 April 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 13 April 2021

  Open at official source

Sponsors

• Ann Kuster · D · Sponsor
• Lloyd Smucker · R · Sponsor
• Chris Pappas · D · Sponsor
• · hspw00 · Standing

Related records

• related to ← Surface Transportation Investment Act of 2021
• related to ← Invest in American Railroads Act