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S. 2805: TOD Advancement Act of 2019

We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Nov 6, 2019.

TOD Advancement Act of 2019

This bill revises and extends until December 4, 2021, the Railroad Rehabilitation Improvement and Financing program.

Specifically, the bill

authorizes the Department of Transportation to provide transit-oriented loans and loan guarantees under the program; and revises eligibility guidelines under the program to include financing economic development that (1) incorporates private investment of greater than 20% of total project costs; (2) is physically connected to, or within a half mile walking distance from, a passenger rail station or multimodal station that includes rail service; and (3) will commence construction within 90 days after the loan or loan guarantee is obligated for the project.