Bill > HR3651

This bill, the Revitalizing American Priorities for Infrastructure Development Act (RAPID Act), aims to improve the Transportation Infrastructure Finance and Innovation (TIFIA) program. The key provisions of the bill are: 1. Eligibility: The bill increases the minimum project cost threshold for TIFIA eligibility from $75 million to $150 million and clarifies that the project must have an investment-grade rating. 2. Streamlined Application Process: The bill requires the Secretary of Transportation to implement an expedited decision timeline (within 180 days) for public agency borrowers seeking TIFIA secured loans that meet certain criteria, such as conforming to the terms established by the National Surface Transportation Innovative Finance Bureau and having a project timeline that allows for the contracting process to commence within 90 days of the TIFIA obligation. 3. Status Reports: The bill requires the Secretary to publish monthly and quarterly status reports on the TIFIA program, including information on submitted letters of interest, applications, and approved projects.

Transportation and Infrastructure

https://www.congress.gov/bill/117th-congress/house-bill/3651/all-info