Mag-Lev Transportation Construction Loan Guarantee Pilot Program Act

Summary

Mag-Lev Transportation Construction Loan Guarantee Pilot Program Act - Defines "mag-lev transportation construction project" to mean the construction of any facility (including vehicles) using magnetic levitation propulsion for the transportation of passengers and their baggage between metropolitan statistical areas. Requires 75 percent of the manufactured and unmanufactured materials included in such vehicles to be U.S. made. Establishes a Mag-Lev Transportation Construction Loan Guarantee Board. Authorizes the Board to guarantee loans made by a State or local government from government employee pension plan funds to a mag-lev transportation construction project. Sets forth certain terms, conditions, and requirements with respect to such loan guarantees. Establishes in the Treasury a Mag-Lev Transportation Construction Fund. Authorizes appropriations. Authorizes the Secretary of Transportation to allow States, under specified conditions, to grant rights-of-way without charge to publicly or privately owned mass transit authorities for such projects. Authorizes the Corps of Engineers to provide engineering design services to State transportation departments on a reimbursable basis. Authorizes States to use interstate highway trust fund allocations for such design work. Establishes a grant program to establish one or more Mag-Lev Research and Development Centers at U.S. institutions of higher learning. Authorizes appropriations.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 15 July 1991

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.