Text: H.R.1849 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (03/21/2019)


116th CONGRESS
1st Session
H. R. 1849


To modify the treatment of certain loans in consideration for fixed guideway capital investment grants, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

March 21, 2019

Mr. Malinowski (for himself, Mr. Sires, Mrs. Watson Coleman, Mr. Smith of New Jersey, Mr. Pallone, Mr. Pascrell, Mr. Payne, Mr. Norcross, Mr. Van Drew, Mr. Kim, Mr. Gottheimer, and Ms. Sherrill) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure


A BILL

To modify the treatment of certain loans in consideration for fixed guideway capital investment grants, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Transportation Funding Fairness Act”.

SEC. 2. Treatment of certain loans in consideration for fixed guideway capital investment grants.

(a) In general.—Section 603(b)(8) of title 23, United States Code, is amended to read as follows:

“(8) NON-FEDERAL SHARE.—

“(A) IN GENERAL.—A State or other eligible sponsor may elect to have proceeds of a covered loan treated as any non-Federal share of project costs required under this title or chapter 53 of title 49, if the loan is repayable from non-Federal funds.

“(B) COVERED LOAN.—In this subparagraph, the term ‘covered loan’ means—

“(i) a secured loan under the TIFIA program; and

“(ii) a loan issued pursuant to the railroad rehabilitation and improvement financing program authorized under sections 501 through 503 of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 821–823).”.

(b) Special rule for fixed guideway capital investment grants.—Section 5309(f) of title 49, United States Code, is amended by adding at the end the following:

“(3) SPECIAL RULE FOR PROCEEDS OF A COVERED LOAN.—

“(A) IN GENERAL.—In making the determination and assessment pursuant to paragraphs (1) and (2), the Secretary—

“(i) shall treat proceeds of a covered loan that a State has elected to treat as a non-Federal share of project costs pursuant to section 603(b)(8) of title 23, United States Code, as a local financial commitment; and

“(ii) may not treat any such proceeds as non-local sources of capital and operating financing.

“(B) COVERED LOAN.—In this subsection, the term ‘covered loan’ means—

“(i) a secured loan under the TIFIA program (as such term is defined in section 601 of title 23, United States Code); and

“(ii) a loan issued pursuant to the railroad rehabilitation and improvement financing program authorized under sections 501 through 503 of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 821–823).”.


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