Congress 107 - HR 1020 - Railroad Track Modernization Act of 2001

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Topics

Bridges Capital investments Collective bargaining agreements Commerce Congress Congressional reporting requirements Construction industries Construction workers Contractors Cost effectiveness Credit insurance Economics and Public Finance Employee rights Federal aid to transportation Federally-assisted loans Federally-guaranteed loans Finance and Financial Sector Government lending Governmental investigations Infrastructure Insurance premiums Intermodal transportation Labor and Employment Minimum wages Railroad employees Railroad engineering Railroad finance Railroad freight operations Railroad maintenance and repair Railroads Subcontractors Transportation and Public Works Wages

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Summary

Railroad Track Modernization Act of 2001 - Amends Federal rail transportation law to direct the Secretary of Transportation to establish a program of capital grants to class II and class III railroads (or with the concurrence of such railroads, to a State or local government) to rehabilitate, preserve, or improve railroad track (including roadbed, bridges, and related track structures) used primarily for freight transportation to a standard to ensure that it can be operated safely and efficiently and accommodate 286,000 pound rail cars.

Declares that the Federal share of costs for such projects shall be 80 percent.

Sets forth certain grant and project requirements.

Authorizes the Secretary to also make grants to supplement direct loans or loan guarantees (including for paying credit risk premiums, lowering rates of interest, or providing for a holiday on principal payments) for projects primarily benefitting non-class I freight railroad carriers.

Sets forth certain employee protection and prevailing wage requirements with respect to projects financed by such grants.

Directs the Secretary to study and report to Congress on such projects to determine the public interest benefits associated with the light density railroad networks in the States and their contribution to a multimodal transportation system.

Authorizes appropriations for FY 2002 through 2004.

Actions

Jun 12, 2001

Placed on the Union Calendar, Calendar No. 52.
Jun 12, 2001

Reported (Amended) by the Committee on Transportation. H. Rept. 107-96.
May 16, 2001

Ordered to be Reported (Amended) by Voice Vote.
May 16, 2001

Committee Consideration and Mark-up Session Held.
May 9, 2001

Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
May 9, 2001

Subcommittee Consideration and Mark-up Session Held.
Mar 15, 2001

Referred to the Subcommittee on Railroads.
Mar 14, 2001

Referred to the House Committee on Transportation and Infrastructure.
Mar 14, 2001

Introduced in House

Amendments

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