Bill
Bill > S941
summary
Introduced
03/24/2021
03/24/2021
In Committee
03/24/2021
03/24/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend title 23, United States Code, to improve the transportation infrastructure finance and innovation (TIFIA) program, and for other purposes.
AI Summary
This bill, the Revitalizing American Priorities for Infrastructure Development Act (RAPID Act), aims to improve the Transportation Infrastructure Finance and Innovation (TIFIA) program by increasing the eligibility threshold for secured loans, implementing an expedited decision timeline for public agency borrowers meeting certain criteria, and requiring the Secretary to publish monthly and quarterly status reports on TIFIA applications and approvals. The bill increases the minimum project cost eligibility threshold for secured loans from $75 million to $150 million and allows for a faster decision timeline for certain public agency borrowers that meet specific criteria, such as having an investment-grade rating and a TIFIA program share of 33% or less of eligible project costs. The status report requirements are intended to improve transparency and accountability for the TIFIA program.
Committee Categories
Agriculture and Natural Resources
Sponsors (2)
Last Action
Read twice and referred to the Committee on Environment and Public Works. (on 03/24/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/941/all-info |
| BillText | https://www.congress.gov/117/bills/s941/BILLS-117s941is.pdf |
| Bill | https://www.congress.gov/117/bills/s941/BILLS-117s941is.pdf.pdf |
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