Railroad Rehabilitation and Financing Innovation Act
- Last Action
- 2/25/2021
Actions
- 2021-02-25Read twice and referred to the Committee on Commerce, Science, and Transportation. (text: CR S894-899)
- 2021-02-25Introduced in Senate
CRS Summary
As of 2021-02-25 (00)
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.
Cosponsors (1)
- Maggie Hassan (D-NH)
Subjects
- Alternative dispute resolution, mediation, arbitration
- Civil actions and liability
- Economic development
- Employee benefits and pensions
- Government information and archives
- Government lending and loan guarantees
- Infrastructure development
- Interest, dividends, interest rates
- Labor-management relations
- Railroads
- Transportation employees
- 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.