H.R. 3217 (112th): To improve and provide increased access to the Railroad Rehabilitation and Improvement Financing program.

112th Congress, 2011–2013. Text as of Oct 14, 2011 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

1st Session

H. R. 3217

IN THE HOUSE OF REPRESENTATIVES

October 14, 2011

introduced the following bill; which was referred to the Committee on Transportation and Infrastructure

A BILL

To improve and provide increased access to the Railroad Rehabilitation and Improvement Financing program.

1.

Railroad rehabilitation and improvement financing

Section 502 of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 822) is amended—

(1)

in subsection (b)(1)—

(A)

by striking or at the end of subparagraph (B);

(B)

by striking the period at the end of subparagraph (C) and inserting ; or; and

(C)

by adding at the end the following new subparagraph:

(D)

carry out development phase activities, including planning, feasibility analysis, revenue forecasting, environmental review, permitting, preliminary engineering and design work, and other preconstruction activities.

;

(2)

in subsection (e), by adding at the end of the following new paragraph:

(3)

Interest rate reduction

Subject to the availability of funds authorized by subsection (k), the Secretary may reduce the interest to be paid on direct loans provided to entities described in paragraphs (1) through (4) of subsection (a), for the sole purpose of installing a positive train control system as defined in section 20157(i) of title 49, United States Code.

;

(3)

in subsection (f)(1) by striking under this section a and inserting under this section private insurance, including bond insurance, and any other;

(4)

in subsection (f)(3), by inserting or, at the discretion of the Secretary, in a series of payments over the term of the loan. If insurance, including bond insurance, is used, the policy premium shall be paid for before the loan is disbursed after of loan amounts;

(5)

in paragraph (3) of subsection (h) by—

(A)

striking and at the end of subparagraph (A);

(B)

striking guarantee. at the end of subparagraph (B) and inserting guarantee; and; and

(C)

inserting after subparagraph (B) the following new subparagraph:

(C)

the grant requirements of section 24405(a) of title 49, United States Code.

; and

(6)

by adding at the end of the following new subsection:

(k)

Authorization of appropriations

There are authorized to be appropriated to the Secretary for purposes of carrying out subsection (e)(3) such funds as may be necessary for the period encompassing fiscal years 2012 through 2017.

.