RAPID Act
Latest action · Mar 24, 2021 Read twice and referred to the Committee on Environment and Public Works.
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.
- IntroducedMar 24, 2021
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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
Members who signed on, in the order they did. All signed on Mar 24, 2021.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-VA | Tim Kaine | Original | Mar 24, 2021 |
Actions 2
Everything that happened, newest first.
- Mar 24, 2021Introduced in Senate
- Mar 24, 2021Read twice and referred to the Committee on Environment and Public Works.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1931 | Surface Transportation Reauthorization Act of 2021 | Related bill | Oct 6, 2021 |
| S 1953 | Surface Transportation Reauthorization Act of 2021 | Related bill | May 27, 2021 |
| HR 3651 | RAPID Act | Identical bill | Jun 2, 2021 |
Subjects
Assigned by the Library of Congress. Policy area: Transportation and Public Works.
Text 1
Each version as it was printed, newest first.
- Mar 24, 2021Introduced in Senate
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.