SENATE 941117th CongressRead twice and referred to the Committee on Environment and Public Works.

RAPID Act

Last Action: 3/24/2021

Actions

2021-03-24Read twice and referred to the Committee on Environment and Public Works.
2021-03-24Introduced in Senate

CRS Summary

As of 2021-03-24 (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 time line for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.

Cosponsors (1)

Timothy Kaine (D-VA)

Subjects

Government information and archives
Government lending and loan guarantees
Public transit
Roads and highways
Transportation programs funding

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