RAPID Act
- Last Action
- 5/3/2019
Actions
- 2019-05-03Referred to the Subcommittee on Highways and Transit.
- 2019-05-02Referred to the House Committee on Transportation and Infrastructure.
- 2019-05-02Introduced in House
- 2019-05-02Introduced in House
CRS Summary
As of 2019-05-02 (00)
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 timeline for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.
Cosponsors (1)
- Mike Gallagher (R-WI)
Subjects
- Government information and archives
- Government lending and loan guarantees
- Public transit
- Roads and highways
- Transportation programs funding
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.