I 

116TH CONGRESS 

2D SESSION H. R. 7074 

To establish an Office of Equitable Transit-Oriented Development and Mobility to carry out an equitable transit-oriented development and mobility 

grant program, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 1, 2020 

Mr. GARCI ́A of Illinois (for himself, Mrs. WATSON COLEMAN, Mr. COHEN, Ms. 

PRESSLEY, Mr. SOTO, Mr. CARSON of Indiana, Mr. THOMPSON of Mississippi, and Ms. OCASIO-CORTEZ) introduced the following bill; which 

was referred to the Committee on Transportation and Infrastructure, and 

in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of 

such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To establish an Office of Equitable Transit-Oriented Development and Mobility to carry out an equitable transitoriented development and mobility grant program, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Promoting Equitable 

5 Transit-Oriented Development and Mobility Corridors 

6 Act’’. 


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1 SEC. 2. DEFINITIONS. 

2 (a) IN GENERAL.—In this Act, the following defini3 tions apply: 

4 (1) EQUITABLE TRANSIT-ORIENTED DEVELOP5 MENT.—The term ‘‘equitable transit-oriented devel6 opment’’ means— 

7 (A) the creation and support of commu8 nities of opportunity, especially disadvantaged 

9 or low-income communities where residents of 

10 all incomes, ages, races, and ethnicities partici11 pate in, and benefit from, living in connected, 

12 healthy, vibrant places connected by public 

13 transportation; and 

14 (B) including, in communities of oppor15 tunity, a mixture of housing (including a sig16 nificant level of affordable housing), office, re17 tail, and other amenities as part of a walkable 

18 neighborhood generally located within a half 

19 mile of quality public transportation. 

20 (2) ETOD AND MOBILITY PLAN.—The term 

21 ‘‘eTOD and Mobility Plan’’ means a plan for equi22 table transit-oriented development and mobility cor23 ridors developed under section 4. 

24 (3) MOBILITY CORRIDOR.—The term ‘‘mobility 

25 corridor’’ means a major economic corridor that in26 tegrates safety, mobility, and access for freight, acVerDate Sep 11 2014 03:30 Jun 24, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H7074.IH H7074

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1 tive transportation, and public transportation along 

2 the corridor while promoting quality of life, economic 

3 development, and greenhouse gas reduction, includ4 ing, at a minimum— 

5 (A) at least 125 acres with centrality to 

6 employment and amenities; 

7 (B) meets a location affordability as de8 fined by a household spending no more than 45 

9 percent or more of their income on housing and 

10 transportation as determined by the Location 

11 Affordability Index published by the Depart12 ment of Transportation and the Department of 

13 Urban Development; 

14 (C) mixed commercial use or community15 based facility and residential use; and 

16 (D) mobility options to reduce personal ve17 hicle miles used or green house gas emissions. 

18 (4) PRIORITY INVESTMENT AREA.—The term 

19 ‘‘priority investment area’’ means an area certified 

20 as a priority investment area in an eTOD and Mo21 bility Plan. 

22 (5) SECRETARY.—The term ‘‘Secretary’’ means 

23 the Secretary of Transportation. 

24 (6) STATE TRANSPORTATION AUTHORITY.—The 

25 term ‘‘State transportation authority’’ means the 


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1 State agency or official responsible under the direc2 tion of the Governor of the State or a State law for 

3 preparation, maintenance, coordination, and admin4 istration of the State transportation, rail, and public 

5 transportation plan. 

6 (b) APPLICABILITY OF CHAPTER 53 DEFINITIONS.— 

7 In this Act, any term defined in chapter 53 of title 49, 

8 United States Code, has the meaning given that term in 

9 that chapter. 

10 SEC. 3. OFFICE OF EQUITABLE TRANSIT-ORIENTED DEVEL11 OPMENT. 

12 (a) ESTABLISHMENT.—The Secretary shall establish 

13 within the Department of Transportation an Office of Eq14 uitable Transit-Oriented Development and Mobility. 

15 (b) RESPONSIBILITIES.—The responsibilities of the 

16 Office of Equitable Transit-Oriented Development and 

17 Mobility are— 

18 (1) to establish and manage the eTOD and mo19 bility grant program established under section 5; 

20 (2) to certify eTOD and Mobility Plans; 

21 (3) to certify priority investment areas included 

22 in such Plans; and 

23 (4) to coordinate Federal resources for eligible 

24 projects in certified priority investment areas. 


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1 SEC. 4. STATE PLANS. 

2 (a) ESTABLISHMENT.—To be eligible for assistance 

3 under section 5 or any of sections 7 through 11, a State 

4 shall, in coordination with metropolitan planning organiza5 tions, transit agencies and local governments, including 

6 tribal governments, within the State, develop a plan for 

7 equitable transit-oriented development and mobility cor8 ridors that proposes priority investment areas and projects 

9 proposed to be carried out in those areas. 

10 (b) PURPOSES.—The purposes of the eTOD and Mo11 bility Plan shall be the following: 

12 (1) To identify priority investment areas in the 

13 State with a need for a comprehensive investment 

14 strategy to keep and revitalize existing neighbor15 hoods and corridors while maintaining and enhanc16 ing housing and transportation affordability and cre17 ating equal opportunity for existing residents and 

18 businesses. 

19 (2) Support implementation of local and com20 munity transportation and land use plans consistent 

21 with sustainable State, regional, and local growth 

22 plans, policies, and strategies to achieve quality of 

23 life, economic vitality, and greenhouse gas reduction 

24 goals. 

25 (3) Encourage and create convenient, safe 

26 multi-modal access to the public transportation sysVerDate Sep 11 2014 03:30 Jun 24, 2020 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H7074.IH H7074

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1 tem, with an emphasis on non-motorized access and 

2 neighborhood walkability and mobility. 

3 (4) To establish the period covered by the 

4 eTOD and Mobility Plan. 

5 (5) To serve as the basis for Federal and State 

6 investments within the State. 

7 (c) CRITERIA FOR STATE PLANS.—The eTOD and 

8 Mobility Plan shall contain the following: 

9 (1) Clearly integrate State and regional housing 

10 and transportation improvement plans and imple11 ment an accountability mechanism that ensures an 

12 individual’s average combined housing and transpor13 tation cost does not exceed 40 percent of total 

14 household spending for such individual. 

15 (2) Create a shared vision and implementation 

16 plan for priority investment areas for infrastructure, 

17 climate mitigation, and development. 

18 (3) Increase the value and effectiveness of pub19 lic transportation by increasing ridership with a 

20 focus on people of color and middle to low income 

21 individuals. 

22 (4) Promote mutually beneficial partnerships 

23 between public, private, and community-based non24 profit organizations and disadvantaged business en25 terprises. 


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1 (5) Make equitable transit-oriented development 

2 an integral component of, and supportive of, public 

3 transportation, land use, climate resiliency, and eco4 nomic development project planning and delivery, es5 pecially in supporting the retention of existing resi6 dents in developing communities. 

7 (6) Reduce and mitigate social and economic 

8 impacts on existing residents and businesses vulner9 able to displacement caused by economic pressures 

10 in stronger markets as well as depopulations caused 

11 by disinvestment. 

12 (7) Promote an increase in State, local, and pri13 vate investment in both public transportation and 

14 mobility options, specifically through a value capture 

15 mechanism. 

16 (8) Increase State, local, and private investment 

17 in economic development especially in disadvantaged 

18 or low-income communities and communities of 

19 color. 

20 (9) Engage a broad cross-section of the commu21 nity most affected by future investments in an inclu22 sive, effective, transparent process. 

23 (10) Create affordable housing and commercial 

24 options as well as community facilities near public 

25 transportation with priority given to affordability, 


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1 and to community-based ownership and entrepre2 neurship, with a focus on participation of disadvan3 taged business enterprises. 

4 (d) PRIORITY INVESTMENT AREA.—Each eTOD and 

5 Mobility Plan shall propose priority investment areas that 

6 will serve as the eligible locations for projects described 

7 under subsection (d) in the State. A priority investment 

8 area shall be— 

9 (1) within a half mile of a public transportation 

10 facility that includes a fixed-guideway public trans11 portation station, designated high-speed rail or exist12 ing intercity rail station, or a major local transit hub 

13 connecting more than 3 local transit lines; or 

14 (2) a mobility corridor designated by a state 

15 transportation authority or metropolitan planning 

16 organization in consultation with local governments 

17 that consists of walkable rural main streets or a sub18 urban economic center. 

19 (e) REQUIRED FINANCE PLAN.—A strategy created 

20 under this subsection shall include an implementation plan 

21 that identifies a 5-year financing plan for proposed im22 provements, including any financial gap, and a timeline 

23 for adoption of the strategy by relevant local governments. 

24 (f) PUBLIC COMMENT.—In developing and reviewing 

25 an eTOD and Mobility Plan, a State shall provide adeVerDate Sep 11 2014 03:30 Jun 24, 2020 Jkt 099200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\H7074.IH H7074

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1 quate and reasonable notice and opportunity for comment 

2 and other input to— 

3 (1) the public; 

4 (2) community organizations, affordable hous5 ing agencies and public transportation agencies; 

6 (3) units of local government; and 

7 (4) other interested parties. 

8 (g) COORDINATION WITH OTHER STATE PLANS.— 

9 In developing an eTOD and Mobility Plan, a State shall 

10 ensure that such plan is coordinated with— 

11 (1) other State, regional planning agencies, 

12 metropolitan planning organizations, and local trans13 portation planning goals and programs; 

14 (2) economic and community development 

15 plans; and 

16 (3) comprehensive State or regional housing 

17 plans. 

18 (h) INTERGOVERNMENTAL COORDINATION.—In de19 veloping an eTOD and Mobility Plan, a State shall— 

20 (1) review the freight and passenger rail service 

21 activities and initiatives of regional planning agen22 cies, regional transportation authorities, and munici23 palities within the State or in the region in which 

24 the State is located; and 


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1 (2) include any recommendations made by such 

2 agencies, authorities, and municipalities as consid3 ered appropriate by the State. 

4 (i) CERTIFICATION OF ETOD AND MOBILITY

5 PLANS.—Upon submission of an eTOD and Mobility Plan 

6 to the Office of Equitable Transit-Oriented Development 

7 and Mobility, such Office shall— 

8 (1) review the proposed priority investment 

9 areas and projects in the eTOD and Mobility Plan; 

10 (2) certify the eTOD and Mobility Plan if each 

11 priority investment area meets the requirements of 

12 this section; and 

13 (3) for each eTOD and Mobility Plan, deter14 mine whether each proposed project included in such 

15 Plan meets the requirements of this section and cer16 tify each such project for eligibility for funding 

17 under this Act and the amendments made by this 

18 Act. 

19 (j) WAIVER.—The Secretary may grant certification 

20 waiver for States with equitable development policies en21 acted prior to the enactment of this Act that substantially 

22 meet the requirements set forth this section. 


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1 SEC. 5. EQUITABLE TRANSIT-ORIENTED DEVELOPMENT 

2 AND MOBILITY GRANT AND TECHNICAL AS3 SISTANCE PROGRAM. 

4 (a) ESTABLISHMENT.—The Secretary shall establish 

5 a competitive grant program to be administered by the Of6 fice of Equitable Transit-Oriented Development and Mo7 bility to provide technical assistance grants for States car8 rying out equitable transit-oriented development and mo9 bility projects. 

10 (b) ELIGIBLE APPLICANTS.—The Secretary shall 

11 provide grants under the program to eligible activities car12 ried out by a State with regional planning agencies, metro13 politan planning organizations, local governments, includ14 ing tribal governments, and at least 1 community-based 

15 nonprofit organization. 

16 (c) TECHNICAL ASSISTANCE GRANTS.— 

17 (1) IN GENERAL.—A technical assistance grant 

18 provided under this section shall be used to create 

19 a strategy for a priority investment area to increase 

20 equitable economic development (including mixed in21 come and mixed use development), including locally 

22 determined activities necessary to create the condi23 tions that will lead to successful equitable transit24 oriented development or a mobility corridor. 


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1 (2) ELIGIBLE ACTIVITIES.—The following ac2 tivities may be included in the strategy developed 

3 under paragraph (1): 

4 (A) Reducing regulatory or procedural bar5 riers to private investment in areas near transit 

6 or in areas with high walkability by revising 

7 local zoning ordinances or completing area-wide 

8 environmental review to increase the speed of 

9 development. 

10 (B) Identifying public infrastructure needs. 

11 (C) Community engagement efforts. 

12 (d) ELIGIBLE USES.—A grant provided under this 

13 section may be used to— 

14 (1) increase transit ridership from development 

15 within the planning area; 

16 (2) create an appropriate mix of uses for the 

17 station area, determined by reference to local growth 

18 and development plans; 

19 (3) promote community stability, especially for 

20 existing residents and businesses during and after 

21 the development; 

22 (4) increase transit accessible attainable hous23 ing within the planning area; 


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1 (5) increase State, local, or private investment 

2 in public infrastructure, including public transpor3 tation; 

4 (6) coordinate with all relevant stakeholders, in5 cluding real-estate, retail, housing, commercial and 

6 economic development, non-profit participants, pub7 lic health, and anchor institutions; or 

8 (7) coordinate with relevant housing, economic 

9 development, land use, and transportation plans. 

10 (e) FUNDING.— 

11 (1) AUTHORIZATION OF APPROPRIATIONS.— 

12 There is authorized to be appropriated $15,000,000 

13 to carry out this section. 

14 (2) ADMINISTRATION OF GRANTS.—Of the 

15 amounts provided to a State under this section, a 

16 State may use up to 2 percent of any such amounts 

17 to provide capacity building and training for public 

18 transportation personnel, private developers, or com19 munity groups regarding planning and implementa20 tion of equitable transit-oriented development and 

21 mobility corridors. 

22 SEC. 6. ANNUAL REPORT. 

23 Not later than 12 months after the date of enactment 

24 of this Act, and annually thereafter, the Secretary shall 

25 submit to Congress a report containing— 


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1 (1) the eTOD and Mobility Plans certified 

2 under section 4(i)(2); 

3 (2) the certified priority investment areas con4 tained in eDOT and Mobility Plans; and 

5 (3) a report tracking the outcomes of prior cer6 tified plans. 

7 SEC. 7. MODIFICATION OF REHABILITATION CREDIT. 

8 (a) REINSTATEMENT OF CREDIT FOR QUALIFIED

9 REHABILITATED BUILDINGS.— 

10 (1) IN GENERAL.—Subsection (a) of section 47 

11 of the Internal Revenue Code of 1986 is amended to 

12 read as follows: 

13 ‘‘(a) DETERMINATION OF CREDIT.— 

14 ‘‘(1) IN GENERAL.—For purposes of section 46, 

15 the rehabilitation credit for any taxable year is the 

16 sum of— 

17 ‘‘(A) in the case of any qualified rehabili18 tated building other than a certified historic 

19 structure which is placed in service during such 

20 taxable year, 10 percent of the qualified reha21 bilitation expenditures with respect to such 

22 building, and 

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1 able year or any of the 4 immediately preceding 

2 taxable years, the ratable share for such taxable 

3 year. 

4 ‘‘(2) RATABLE SHARE.—For purposes of para5 graph (1)(B), the ratable share for any taxable year 

6 is an amount equal to 20 percent of the qualified re7 habilitation expenditures with respect to the certified 

8 historic structure, as allocated ratably to each of the 

9 5 years to which paragraph (1)(B) applies.’’. 

10 (2) CONFORMING AMENDMENTS.— 

11 (A) Section 47(c) of such Code is amend12 ed— 

13 (i) in paragraph (1)— 

14 (I) in subparagraph (A), by 

15 amending clause (iii) to read as fol16 lows: 

17 ‘‘(iii) in the case of any building other 

18 than a certified historic structure, in the 

19 rehabilitation process— 

20 ‘‘(I) 50 percent or more of the 

21 existing external walls of such build22 ing are retained in place as external 

23 walls, 

24 ‘‘(II) 75 percent or more of the 

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1 ing are retained in place as internal or 

2 external walls, and 

3 ‘‘(III) 75 percent or more of the 

4 existing internal structural framework 

5 of such building is retained in place, 

6 and’’; and 

7 (II) by redesignating subpara8 graphs (B) and (C) as subparagraphs 

9 (C) and (D), respectively, and by in10 serting after subparagraph (A) the 

11 following new subparagraph: 

12 ‘‘(B) BUILDING MUST BE FIRST PLACED

13 IN SERVICE BEFORE 1936.—In the case of a 

14 building other than a certified historic struc15 ture, a building shall not be a qualified rehabili16 tated building unless the building was first 

17 placed in service before 1936.’’; and 

18 (ii) in paragraph (2)(B), by amending 

19 clause (iv) to read as follows: 

20 ‘‘(iv) CERTIFIED HISTORIC STRUC21 TURE, ETC.—Any expenditure attributable 

22 to the rehabilitation of a certified historic 

23 structure or a building in a registered his24 toric district, unless the rehabilitation is a 

25 certified rehabilitation (within the meaning 


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1 of subparagraph (C)). The preceding sen2 tence shall not apply to a building in a reg3 istered historic district if— 

4 ‘‘(I) such building was not a cer5 tified historic structure, 

6 ‘‘(II) the Secretary of the Inte7 rior certified to the Secretary that 

8 such building is not of historic signifi9 cance to the district, and 

10 ‘‘(III) if the certification referred 

11 to in subclause (II) occurs after the 

12 beginning of the rehabilitation of such 

13 building, the taxpayer certifies to the 

14 Secretary that, at the beginning of 

15 such rehabilitation, he in good faith 

16 was not aware of the requirements of 

17 subclause (II).’’. 

18 (B) Paragraph (4) of section 145(d) of 

19 such Code is amended— 

20 (i) by striking ‘‘of section 

21 47(c)(1)(B)’’ each place it appears and in22 serting ‘‘of section 47(c)(1)(C)’’; and 

23 (ii) by striking ‘‘section 

24 47(c)(1)(B)(i)’’ and inserting ‘‘section 

25 47(c)(1)(C)(i)’’. 


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1 (b) INCREASE IN CREDIT RATE FOR QUALIFIED RE2 HABILITATED BUILDINGS OTHER THAN CERTIFIED HIS3 TORIC STRUCTURES.—Section 47(a)(1) of such Code, as 

4 amended by subsection (a), is amended by striking ‘‘10 

5 percent’’ and inserting ‘‘15 percent’’. 

6 (c) MODIFICATION OF DATE BEFORE WHICH BUILD7 INGS OTHER THAN CERTIFIED HISTORIC STRUCTURES

8 MUST BE PLACED IN SERVICE.—Section 47(c)(1)(B) of 

9 such Code, as amended by subsection (a), is amended by 

10 striking ‘‘1936’’ and inserting ‘‘the calendar year which 

11 is 50 years prior to the calendar year in which the building 

12 is placed in service (within the meaning of subsection 

13 (b)(1))’’. 

14 (d) REQUIREMENT THAT BUILDINGS OTHER CER15 TIFIED HISTORIC STRUCTURES MUST BE CLOSE TO PUB16 LIC TRANSPORTATION CENTERS OR MOBILITY COR17 RIDORS.—Section 47(c)(1) of such Code, as amended by 

18 subsection (a), is amended by redesignating subpara19 graphs (C) and (D) as subparagraphs (D) and (E), re20 spectively, and by inserting after subparagraph (B) the 

21 following new subparagraph: 

22 ‘‘(C) BUILDING MUST BE CLOSE TO PUB23 LIC TRANSPORTATION CENTER.— 

24 ‘‘(i) IN GENERAL.—In the case of a 

25 building other than a certified historic 


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1 structure, a building shall not be a quali2 fied rehabilitated building unless the build3 ing is in a priority investment area of an 

4 eTOD and Mobility Plan, as such terms 

5 are defined in section 2 of the Promoting 

6 Equitable Transit-Oriented Development 

7 and Mobility Corridors Act, or not further 

8 than one-half mile from at least one of the 

9 following: 

10 ‘‘(I) A location which provides 

11 passenger boarding on a fixed guide12 way (as defined in section 5302(7) of 

13 title 49, United States Code), com14 muter rail passenger transportation 

15 (as defined in section 24102(3) of 

16 title 49, United States Code), or 

17 intercity rail passenger transportation 

18 (as defined in section 24102(4) of 

19 title 49, United States Code). 

20 ‘‘(II) A planned site for a loca21 tion described in subclause (I) if the 

22 Secretary of Transportation has 

23 issued a full funding grant agreement 

24 with respect to such location under 


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1 section 5309(k)(2) of title 49, United 

2 States Code. 

3 ‘‘(ii) IDENTIFICATION OF QUALIFIED

4 AREAS.—The Secretary, in consultation 

5 with the Secretary of Transportation, shall 

6 identify areas which are described in clause 

7 (i).’’. 

8 (e) ELIMINATION OF CERTAIN LODGING RESTRIC9 TIONS ON BUILDINGS OTHER THAN CERTIFIED HISTORIC

10 STRUCTURES.—Section 50(b)(2)(C) of such Code is 

11 amended by striking ‘‘certified historic structure’’ and in12 serting ‘‘qualified rehabilitated building’’. 

13 (f) REQUIREMENT THAT BUILDINGS THAT ARE NOT

14 CERTIFIED HISTORIC STRUCTURES AND NOT IN A REG15 ISTERED HISTORIC DISTRICT RECEIVE CERTIFICATION

16 OF STATUS.—Section 47(c)(1) of such Code, as amended 

17 by subsections (a) and (d), is amended by redesignating 

18 subparagraphs (D) and (E) as subparagraphs (E) and 

19 (F), respectively, and by inserting after subparagraph (C) 

20 the following new subparagraph: 

21 ‘‘(D) BUILDINGS THAT ARE NOT CER22 TIFIED HISTORIC STRUCTURES AND NOT IN

23 REGISTERED HISTORIC DISTRICT MUST RE24 CEIVE CERTIFICATION OF STATUS.— 


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1 ‘‘(i) IN GENERAL.—In the case of a 

2 building which is neither a certified his3 toric structure nor located in a registered 

4 historic district, such building shall not be 

5 a qualified rehabilitated building unless the 

6 Secretary of the Interior certifies to the 

7 Secretary that such building is— 

8 ‘‘(I) not a certified historic struc9 ture, and 

10 ‘‘(II) not in a registered historic 

11 district. 

12 ‘‘(ii) DETERMINATIONS BY NATIONAL

13 PARK SERVICE.—To the maximum extent 

14 practicable, the Secretary of the Interior 

15 shall make certifications under clause (i) 

16 within 30 days of the receipt of an applica17 tion for such certification.’’. 

18 (g) CREDIT FOR CERTAIN RELATED EXPENDI19 TURES.— 

20 (1) CREDIT FOR CERTAIN EXPENDITURES FOR

21 PUBLIC INFRASTRUCTURE.—Section 47(c)(2) of 

22 such Code is amended by adding at the end the fol23 lowing new subparagraph: 

24 ‘‘(E) TREATMENT OF CERTAIN EXPENDI25 TURES FOR PUBLIC INFRASTRUCTURE.— 


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1 ‘‘(i) IN GENERAL.—In the case of any 

2 qualified rehabilitated building, expendi3 tures for qualified public infrastructure (or 

4 improvements thereto) shall be treated for 

5 purposes of this section as qualified reha6 bilitation expenditures with respect to such 

7 building if providing such qualified public 

8 infrastructure is related to such building 

9 and is required by any State or local gov10 ernment. 

11 ‘‘(ii) LIMITATION.—The amount treat12 ed as qualified rehabilitation expenditures 

13 with respect to any building under clause 

14 (i) shall not exceed 25 percent of the quali15 fied rehabilitation expenditures with re16 spect to such building (determined after 

17 the application of clause (i) and subpara18 graph (F)). 

19 ‘‘(iii) BONUS CREDIT AMOUNT.—In 

20 the case of any amount treated as qualified 

21 rehabilitation expenditures under clause 

22 (i), subsection (a)(1) shall be applied by 

23 substituting ‘25 percent’ for ‘15 percent’. 

24 ‘‘(iv) QUALIFIED PUBLIC INFRA25 STRUCTURE.—For purposes of this subVerDate Sep 11 2014 03:30 Jun 24, 2020 Jkt 099200 PO 00000 Frm 00022 Fmt 6652 Sfmt 6201 E:\BILLS\H7074.IH H7074

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1 paragraph, the term ‘qualified public infra2 structure’ means water and sewer lines, 

3 electrical lines and equipment, tele4 communications lines and equipment, and 

5 road and sidewalks, which are located in 

6 the public right of way and are not owned 

7 by the taxpayer.’’. 

8 (2) CREDIT FOR EXPANSION AND ADJACENT

9 BUILDINGS WITH RESPECT TO QUALIFIED REHABILI10 TATED BUILDINGS OTHER THAN CERTIFIED HIS11 TORIC STRUCTURES.—Section 47(c)(2) of such 

12 Code, as amended by paragraph (1), is amended by 

13 adding at the end the following new subparagraph: 

14 ‘‘(F) TREATMENT OF BUILDING EXPAN15 SIONS AND CERTAIN ADJACENT BUILDINGS

16 WITH RESPECT TO QUALIFIED REHABILITATED

17 BUILDINGS OTHER THAN CERTIFIED HISTORIC

18 STRUCTURES.— 

19 ‘‘(i) IN GENERAL.—In the case any 

20 qualified rehabilitated building other than 

21 a certified historic structure— 

22 ‘‘(I) clause (iii) of subparagraph 

23 (B) shall not apply, and 

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1 tion with the rehabilitation or con2 struction of a qualified adjacent build3 ing shall be treated as qualified reha4 bilitation expenditures with respect to 

5 such qualified rehabilitated building. 

6 ‘‘(ii) LIMITATION.—The amount treat7 ed as qualified rehabilitation expenditures 

8 with respect to any qualified rehabilitated 

9 building under clause (i) shall not exceed 

10 100 percent of the qualified rehabilitation 

11 expenditures with respect to such building 

12 (determined without regard to clause (i) 

13 and subparagraph (E)). 

14 ‘‘(iii) QUALIFIED ADJACENT BUILD15 ING.—For purposes of this subparagraph, 

16 the term ‘qualified adjacent building’ 

17 means, with respect to any qualified reha18 bilitated building, any building if such 

19 building and such qualified rehabilitated 

20 building are both on the same block.’’. 

21 (3) RELATED EXPENDITURES DISREGARDED IN

22 DETERMINING IF REHABILITATION IS SUBSTAN23 TIAL.—Section 47(c)(1)(E), as redesignated by sub24 sections (a), (d), and (f), is amended by adding at 

25 the end the following new clause: 


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1 ‘‘(iv) CERTAIN EXPENDITURES DIS2 REGARDED.—Amounts which are otherwise 

3 treated as qualified rehabilitation expendi4 tures by reason of subparagraph (E) or 

5 (F) of paragraph (2) shall not be treated 

6 as qualified rehabilitation expenditures for 

7 purposes of this subparagraph.’’. 

8 (h) BONUS CREDIT FOR RENT-RESTRICTED HOUS9 ING UNITS.—Section 47 of such Code is amended by add10 ing at the end the following new subsection: 

11 ‘‘(e) BONUS CREDIT FOR RENT-RESTRICTED HOUS12 ING UNITS.— 

13 ‘‘(1) IN GENERAL.—Subsection (a)(1) shall be 

14 applied by substituting ‘25 percent’ for ‘15 percent’ 

15 with respect to so much of the qualified rehabilita16 tion expenditures (determined without regard to sub17 section (c)(2)(E)) with respect to any qualified reha18 bilitated building as are properly allocable to resi19 dential units which are— 

20 ‘‘(A) rent-restricted (within the meaning of 

21 section 42(g)(2)), and 

22 ‘‘(B) occupied by individuals whose income 

23 is 100 percent or less of area median gross in24 come (within the meaning of section 42(g)(1)). 


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1 ‘‘(2) FAILURE TO MAINTAIN RENT-RESTRICTION

2 SUBJECT TO RECAPTURE.—In the case of any fail3 ure to maintain any residential unit taken into ac4 count under paragraph (1) as a residential unit de5 scribed in such paragraph during the recapture pe6 riod, section 50(a) shall apply as though the quali7 fied rehabilitated building ceased to be investment 

8 credit property except that the recapture period and 

9 recapture percentage shall be determined under 

10 paragraph (3) and in determining the increase in tax 

11 under such section in lieu of reducing the credit de12 termined under this section to zero such credit shall 

13 be determined without regard to paragraph (1). The 

14 application of section 50(a) with respect to a build15 ing as described in this paragraph shall not prevent 

16 the reapplication of such section to such building if 

17 such building is disposed of or otherwise ceases to 

18 be investment credit property and the tax imposed 

19 under such section by reason of such reapplication 

20 shall be reduced by the tax previously imposed as 

21 described in this paragraph. 

22 ‘‘(3) RECAPTURE PERIOD; RECAPTURE PER23 CENTAGE.—For purposes of this subsection— 

24 ‘‘(A) RECAPTURE PERIOD.—The term ‘re25 capture period’ means the 10-year period beginVerDate Sep 11 2014 03:30 Jun 24, 2020 Jkt 099200 PO 00000 Frm 00026 Fmt 6652 Sfmt 6201 E:\BILLS\H7074.IH H7074

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1 ning on the date the building is placed in serv2 ice. 

3 ‘‘(B) RECAPTURE PERCENTAGE.—The 

4 term ‘recapture percentage’ means— 

5 ‘‘(i) in the case of a failure described 

6 in paragraph (2) that occurs during the 

7 first year of the recapture period, 100 per8 cent, and 

9 ‘‘(ii) in the case of such a failure 

10 which occurs during any subsequent year 

11 of the recapture period, the percentage 

12 which is 10 percentage points less than the 

13 percentage which applied for the previous 

14 year (as determined under this subpara15 graph).’’. 

16 (i) PUBLIC REPORTING.—Section 47 of such Code, 

17 as amended by subsection (h), is amended by adding at 

18 the end the following new subsection: 

19 ‘‘(f) PUBLIC REPORTING WITH RESPECT TO QUALI20 FIED REHABILITATED BUILDINGS OTHER THAN CER21 TIFIED HISTORIC STRUCTURES.— 

22 ‘‘(1) IN GENERAL.—No credit shall be allowed 

23 under this section with respect to any qualified reha24 bilitated building other than a certified historic 

25 structure unless the taxpayer submits to the SecVerDate Sep 11 2014 03:30 Jun 24, 2020 Jkt 099200 PO 00000 Frm 00027 Fmt 6652 Sfmt 6201 E:\BILLS\H7074.IH H7074

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1 retary a report (at such time and in such manner 

2 as the Secretary may provide) which includes the in3 formation described in paragraph (2). 

4 ‘‘(2) INFORMATION.—The report described in 

5 paragraph (1) shall include the following: 

6 ‘‘(A) The name of the building and, if ap7 plicable, the name of the project of which such 

8 building is a part. 

9 ‘‘(B) Each of the following with respect to 

10 the location of the building: city, State, zip 

11 code, 2010 census tract (and whether such 

12 tract is metropolitan statistical area). 

13 ‘‘(C) The total cost of the building and, if 

14 applicable, the total cost of the project of which 

15 such building is a part. 

16 ‘‘(D) The total amount of credit allowed 

17 under this section with respect to such building 

18 and, if applicable, with respect to the project of 

19 which such building is a part. 

20 ‘‘(E) The year the building is placed in 

21 service. 

22 ‘‘(F) The number of housing units in the 

23 building and number of such housing units 

24 which are rent-restricted (within the meaning of 

25 section 42(g)(2)). 


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1 ‘‘(G) The primary purpose of the building. 

2 ‘‘(3) REPORTS MADE PUBLICLY AVAILABLE.— 

3 The Secretary shall ensure that reports made under 

4 paragraph (1) are made available to the public.’’. 

5 (j) EFFECTIVE DATE.—The amendments made by 

6 this section shall apply to property placed in service after 

7 the date of the enactment of this Act. 

8 SEC. 8. CREDIT FACILITY TO SUPPORT EQUITABLE TRAN9 SIT-ORIENTED DEVELOPMENT AND MOBIL10 ITY. 

11 (a) DEFINITIONS.—In this section: 

12 (1) ELIGIBLE APPLICANT.—The term ‘‘eligible 

13 applicant’’ means— 

14 (A) a State; 

15 (B) a unit of local government; 

16 (C) a corporation, partnership, or joint 

17 venture; 

18 (D) a regional planning agency; 

19 (E) a tribal government; or 

20 (F) a transit agency. 

21 (2) ELIGIBLE BORROWER.—The term ‘‘eligible 

22 borrower’’ means— 

23 (A) a governmental entity, authority, agen24 cy, or instrumentality; 


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1 (B) a corporation, partnership, joint ven2 ture, or trust on behalf of which an eligible ap3 plicant has submitted an application under sub4 section (c); or 

5 (C) any other legal entity undertaking an 

6 eligible project on behalf of which an eligible 

7 applicant has submitted an application under 

8 subsection (c). 

9 (3) ELIGIBLE PROJECT.—The term ‘‘eligible 

10 project’’ means an eligible equitable transit-oriented 

11 development or mobility project, including— 

12 (A) property enhancement, including con13 ducting environmental remediation, park devel14 opment, and open space acquisition; 

15 (B) improvement of mobility and parking, 

16 including rehabilitating, or providing for addi17 tional, streets, transit stations, structured park18 ing, walkways, and bikeways; 

19 (C) utility development, including rehabili20 tating existing, or providing for new drinking 

21 water, wastewater, electric, and gas utilities; 

22 (D) economic development, including com23 mercial and residential development, located in 

24 a priority investment area; or 


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1 (E) commercial and residential projects 

2 that includes— 

3 (i) a project for residential or mixed4 use development in which— 

5 (I) not less than 30 percent of 

6 the residential units in the project 

7 are, or in the case of new construc8 tion, are designated to be, rent-re9 stricted; and 

10 (II) the average of the designated 

11 income limitations under clause (ii) of 

12 all rent-restricted units does not ex13 ceed 80 percent of the median gross 

14 income in the area; and 

15 (ii) a project for mixed-use develop16 ment for— 

17 (I) affordable commercial space 

18 dedicated to local businesses owned by 

19 women or people of color; 

20 (II) local businesses primarily 

21 owned by individuals who are mem22 bers of historically underserved popu23 lations; and 

24 (III) non-profit organizations 

25 which serve historically underserved 


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1 communities, including communities 

2 of color. 

3 (4) ESSENTIAL COMMUNITY FACILITY.—The 

4 term ‘‘essential community facility’’ means a facility 

5 that provides an essential service to the local com6 munity for the beneficial and orderly development of 

7 the community, including— 

8 (A) a facility that provides health services; 

9 and 

10 (B) a facility that provides community, so11 cial, or cultural services. 

12 (b) ESTABLISHMENT.—The Secretary may make or 

13 guarantee loans under this section to eligible borrowers 

14 for eligible projects. 

15 (c) APPLICATION.—An eligible applicant may submit 

16 to the Secretary an application for a loan or loan guar17 antee under this section— 

18 (1) to fund an eligible project carried out by the 

19 eligible applicant; or 

20 (2) on behalf of an eligible borrower, to fund an 

21 eligible project carried out by the eligible borrower. 

22 (d) MINIMUM PROJECT COSTS.—An eligible project 

23 shall have project costs that are reasonably anticipated to 

24 equal or exceed $2,500,000. 


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1 (e) MAXIMUM AMOUNT OF LOAN.—Federal assist2 ance provided for a project under this section may not ex3 ceed 75 percent of total project costs. The Secretary may 

4 increase the maximum amount of a secured loan from the 

5 amount described in the preceding sentence if the secured 

6 loan is for an eligible project for residential or mixed-use 

7 development for which— 

8 (1) not more than 30 percent of the total 

9 square footage is used for commercial development; 

10 or 

11 (2)(A) not more than 50 percent of the total 

12 square footage is used for commercial development; 

13 and 

14 (B) not less than 50 percent of the square foot15 age described in subparagraph (A) is reserved for es16 sential community facilities. 

17 (f) ELIGIBLE SOURCES OF REPAYMENT.—A loan 

18 made or guaranteed under this section shall be repayable, 

19 in whole or in part, from dedicated revenue sources, which 

20 may include— 

21 (1) user fees; 

22 (2) property tax revenues; 

23 (3) sales tax revenues; or 

24 (4) other revenue sources dedicated to the 

25 project by property owners and businesses. 


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1 (g) INTEREST RATE.—The Secretary shall establish 

2 an interest rate for loans made or guaranteed under this 

3 section with reference to a benchmark interest rate yield 

4 on marketable Treasury securities with a maturity that 

5 is similar to the loans made or guaranteed under this sec6 tion. 

7 (h) MAXIMUM MATURITY.—The maturity of a loan 

8 made or guaranteed under this section may not exceed the 

9 lesser of— 

10 (1) 35 years; or 

11 (2) 90 percent of the useful life of the project 

12 to be financed by the loan or loan guarantee, as de13 termined by the Secretary. 

14 (i) MAXIMUM LOAN GUARANTEE RATE.— 

15 (1) IN GENERAL.—The guarantee rate on a 

16 loan guaranteed under this section may not exceed 

17 75 percent of the amount of the loan. 

18 (2) LOWER GUARANTEE RATE FOR LOW-RISK

19 BORROWERS.—The Secretary shall establish a guar20 antee rate for loans to eligible borrowers that the 

21 Secretary determines pose a lower risk of default 

22 that is lower than the guarantee rate for loans to 

23 other eligible borrowers. 

24 (j) FEES.—The Secretary shall establish fees for 

25 loans made or guaranteed under this section in amounts 


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1 up to, but not exceeding, the costs to the Federal Govern2 ment of making or guaranteeing a loan under this section. 

3 (k) NONSUBORDINATION.—A loan made or guaran4 teed under this section for a project may not be subordi5 nated to the claims of any holder of an obligation relating 

6 to the project in the event of bankruptcy, insolvency, or 

7 liquidation. 

8 (l) COMMENCEMENT OF REPAYMENT.—The sched9 uled repayment of principal or interest on a loan made 

10 or guaranteed under this section for a project shall com11 mence not later than 5 years after the date of substantial 

12 completion of the project. 

13 (m) REPAYMENT DEFERRAL FOR LOANS.— 

14 (1) IN GENERAL.— 

15 (A) LOAN MADE BY SECRETARY.—If, at 

16 any time after the date of substantial comple17 tion of a project under the program, the Sec18 retary determines that dedicated revenue 

19 sources of an eligible borrower are insufficient 

20 to make the scheduled loan repayments of prin21 cipal and interest on a loan made or guaranteed 

22 under this section, the Secretary may, subject 

23 to criteria established by the Secretary, allow 

24 the eligible borrower to defer payments and add 


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1 unpaid principal and interest to the outstanding 

2 balance of the loan. 

3 (B) LOAN GUARANTEED BY SECRETARY.— 

4 If, at any time after the date of substantial 

5 completion of a project, the Secretary deter6 mines that dedicated revenue sources of an eli7 gible borrower are insufficient to make the 

8 scheduled loan repayments of principal and in9 terest on a loan guaranteed by the Secretary 

10 under this section, the Secretary may, subject 

11 to criteria established by the Secretary— 

12 (i) add unpaid principal and interest 

13 to the outstanding balance of the loan; and 

14 (ii) modify the terms of the loan guar15 antee to reflect a modification made under 

16 clause (i). 

17 (2) TREATMENT OF DEFERRED PAYMENTS.— 

18 Any payment deferred under this section shall— 

19 (A) continue to accrue interest until fully 

20 repaid; and 

21 (B) be scheduled to be amortized over the 

22 remaining term of the loan. 

23 (n) CONSULTATION.—In carrying out this section, 

24 the Secretary shall consult with the Secretary of Housing 

25 and Urban Development, as appropriate. 


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1 (o) REQUIREMENT.—Of the funds made available to 

2 carry out this section for each fiscal year, not less than 

3 5 percent shall be used for eligible projects in rural and 

4 disadvantage communities. 

5 (p) AUTHORIZATION OF APPROPRIATIONS.—There 

6 are authorized to be appropriated for the cost of loans and 

7 loan guarantees under this section— 

8 (1) $300,000,000 for each of fiscal years 2021 

9 and 2022; and 

10 (2) $500,000,000 for each of fiscal years 2023 

11 and 2024. 

12 SEC. 9. AMENDMENTS TO TIFIA AND RRIF. 

13 (a) DETERMINATION OF ELIGIBILITY AND PROJECT

14 SELECTION.—Section 602(a)(5)(B)(ii) of title 23, United 

15 States Code, is amended by inserting ‘‘or section 

16 5302(3)(G)’’ after ‘‘601(a)(12)(E)’’. 

17 (b) SECURED LOANS.—Section 603(b)(2) of title 23, 

18 United States Code, is amended— 

19 (1) in subparagraph (A) by striking ‘‘subpara20 graph (A)’’ and inserting ‘‘subparagraphs (A) and 

21 (B)’’; and 

22 (2) by adding at the end the following: 

23 ‘‘(C) ETOD AND MOBILITY PROJECTS.— 

24 ‘‘(i) IN GENERAL.—Notwithstanding 

25 subparagraph (A), in the case of a project 


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1 described in clause (ii), the maximum 

2 amount of a secured loan under this sec3 tion shall be 49 percent of the reasonably 

4 anticipated eligible project costs. 

5 ‘‘(ii) PROJECT DESCRIPTION.—For 

6 purposes of clause (i), a project eligible for 

7 the loan described in clause (i) shall be a 

8 project certified under section 4(i)(3) of 

9 the Promoting Equitable Transit-Oriented 

10 Development and Mobility Corridors Act.’’. 

11 (c) CREDITWORTHINESS.—Section 602(a)(2) of title 

12 23, United States Code, is amended by adding at the end 

13 the following: 

14 ‘‘(C) ADDITIONAL CREDITWORTHINESS

15 FACTORS.—Notwithstanding subparagraph (A), 

16 an applicant may demonstrate creditworthiness 

17 under this paragraph by providing— 

18 ‘‘(i) collateral; 

19 ‘‘(ii) the applicant’s audited financial 

20 data, including balance sheet, income 

21 statement, and cash flow statements; or 

22 ‘‘(iii) cash flow projections from a 

23 project.’’. 


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1 (d) DIRECT LOANS AND LOAN GUARANTEES.—Sec2 tion 502(b) of the Railroad Revitalization and Regulatory 

3 Reform Act of 1976 (45 U.S.C. 822(b)) is amended— 

4 (1) in paragraph (1)(E)— 

5 (A) in clause (ii) by striking the semicolon 

6 and inserting ‘‘; and’’; 

7 (B) in clause (iii) by striking ‘‘; and’’ and 

8 inserting a period; and 

9 (C) by striking clause (iv); and 

10 (2) by striking paragraph (3). 

11 (e) CONDITIONS OF ASSISTANCE.—Section 502(h)(4) 

12 of the Railroad Revitalization and Regulatory Reform Act 

13 of 1976 (45 U.S.C. 822(h)(4)) is amended by inserting 

14 ‘‘, except that a Federal match shall not be required for 

15 any project certified under section 4(i)(3) of the Pro16 moting Equitable Transit-Oriented Development and Mo17 bility Corridors Act or for a project that has dedicated 

18 revenues for affordable housing or public transportation.’’ 

19 SEC. 10. LOCAL INFRASTRUCTURE BANK PROGRAM. 

20 Section 610 of title 23, United States Code, is 

21 amended— 

22 (1) in subsection (a)— 

23 (A) by inserting ‘‘or regional infrastructure 

24 bank’’ after ‘‘State infrastructure bank’’ each 

25 place that it appears; and 


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1 (B) by adding at the end the following: 

2 ‘‘(13) LOCAL INFRASTRUCTURE BANK.—The 

3 term ‘local infrastructure bank’ means an infrastruc4 ture bank of a city, town, borough, county, parish, 

5 district, or other public body created by, or pursuant 

6 to, State or Federal law.’’; 

7 (2) in subsection (b) by inserting ‘‘or local in8 frastructure banks’’ after ‘‘State infrastructure 

9 banks’’; 

10 (3) in subsection (d) by inserting ‘‘or local in11 frastructure bank’’ after ‘‘State infrastructure 

12 bank’’ each place that it appears; and 

13 (4) in subsection (e) by inserting ‘‘or local in14 frastructure bank’’ after ‘‘State infrastructure 

15 bank’’ each place that it appears. 

16 SEC. 11. FIXED GUIDEWAY CAPITAL INVESTMENT GRANTS. 

17 Section 5309(a)(5) of title 49, United States Code, 

18 is amended— 

19 (1) in subparagraph (A) by striking ‘‘; or’’ and 

20 inserting a semicolon; 

21 (2) in subparagraph (B) by striking the period 

22 and inserting ‘‘; or’’; and 

23 (3) by adding at the end the following: 

24 ‘‘(C) a new affordable housing trust fund 

25 to promote affordable housing.’’. 


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1 SEC. 12. DEFINITIONS. 

2 (a) CAPITAL PROJECT.—Section 5302(3)(G)(iii) of 

3 title 49, United States Code, is amended by inserting ‘‘or 

4 affordable housing’’ after ‘‘public transportation’’. 

5 (b) AFFORDABLE HOUSING.—Section 5302 of title 

6 49, United States Code, is amended by adding at the end 

7 the following: 

8 ‘‘(25) AFFORDABLE HOUSING.—The term ‘af9 fordable housing’ means— 

10 ‘‘(A) housing for which the household 

11 spends less than 30 percent of income on hous12 ing costs; or 

13 ‘‘(B) housing for which the household 

14 spends 45 percent or more of the income of the 

15 household on housing and transportation com16 bined as determined by the Location Afford17 ability Index published by the Department of 

18 Transportation and the Department of Housing 

19 and Urban Development.’’. 

Æ 


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