Bill > HR6228

This bill aims to modify the Transportation Infrastructure Finance and Innovation Act (TIFIA) and Railroad Rehabilitation and Improvement Financing (RRIF) programs by establishing new creditworthiness standards for residential and mixed-use development projects seeking federal transportation infrastructure funding. Specifically, the bill directs the Secretary of Transportation, in consultation with the Secretary of Housing and Urban Development (HUD), to create flexible creditworthiness criteria for projects that include residential or mixed-use components. These new standards are designed to safeguard the financial stability of the transportation funding programs while aligning with HUD's existing assistance requirements. The bill modifies existing loan and line of credit eligibility rules to accommodate residential development projects, allowing more nuanced evaluation of project financial viability beyond traditional investment-grade rating requirements. The Secretary of Transportation is required to develop specific implementing regulations within 180 days of the bill's enactment, and the new provisions will apply to loans and lines of credit issued after that 180-day period. By creating these more adaptable standards, the bill seeks to unlock additional financing opportunities for affordable housing and mixed-use development projects that integrate transportation infrastructure.

Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/house-bill/6228/all-info