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[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 731 Introduced in House (IH)]

<DOC>

116th CONGRESS
  1st Session
                                H. R. 731

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

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            January 23, 2019

 Mr. Malinowski (for himself, Mr. Norcross, Mr. Van Drew, Mr. Kim, Mr. 
  Pallone, Mr. Pascrell, Mr. Payne, 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).''.
                                 <all>
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