Invest in American Railroads Act
Latest action · Apr 14, 2021 Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 13, 2021
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Invest in American Railroads Act
This bill revises and expands the Railroad Rehabilitation and Improvement Financing program of the Department of Transportation (DOT).
Specifically, the bill
- authorizes DOT to pay certain credit risk premiums for loans or loan guarantees;
- requires DOT to set aside at least $100 million for passenger rail projects in a given fiscal year;
- directs DOT to provide loans and loan guarantees to private entities with controlling ownership in one or more freight railroads other than Class I carriers;
- expands eligibility under the loan program to include reimbursement of planning, permitting, and design expenses related to acquiring, improving, or rehabilitating intermodal or rail equipment or facilities;
- sets forth collateral and appraisal standards under the program; and
- allows loan repayment terms to be extended up to 50 years after the date of substantial completion of a project, or the estimated useful life of the rail equipment or facilities to be acquired, rehabilitated, improved, developed, or established.
Cosponsors 2
Members who signed on, in the order they did. All signed on Apr 13, 2021.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NH | Chris Pappas | Original | Apr 13, 2021 |
| R-PA | Lloyd Smucker | Original | Apr 13, 2021 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Transportation and Infrastructure Committee | Referred Apr 13, 2021 |
| Railroads, Pipelines, and Hazardous Materials Subcommittee | Referred Apr 14, 2021 |
Actions 3
Everything that happened, newest first.
- Apr 14, 2021Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
- Apr 13, 2021Introduced in House
- Apr 13, 2021Referred to the House Committee on Transportation and Infrastructure.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 167, no. 63, April 13, 2021, page H1737.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2016 | Surface Transportation Investment Act of 2021 | Related bill | Dec 17, 2021 |
| HR 5947 | Invest in American Railroads Act | Reintroduction of | Feb 24, 2020 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Railroad Revitalization and Regulatory Reform Act of 1976 to provide for the Secretary to pay certain credit risk premiums for loan or loan guarantees, and for other purposes.
- Short Title(s) as Introduced
- Invest in American Railroads Act
Subjects
Assigned by the Library of Congress. Policy area: Transportation and Public Works.
Text 1
Each version as it was printed, newest first.
- Apr 13, 2021Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
