National Freight Network Trust Fund Act of 2014

To establish a National Freight Network Trust Fund to improve the performance of the national freight network, and for other purposes. 1. Short title This Act may be cited as the National Freight Network Trust Fund Act of 2014 2. National Freight Network Trust Fund (a) In general Subchapter A of chapter 98 9512. National Freight Network Trust Fund (a) Creation of Trust Fund There is hereby established in the Treasury of the United States a trust fund to be known as the National Freight Network Trust Fund (b) Transfers to Trust Fund There are hereby appropriated to the National Freight Network Trust Fund amounts equivalent to 5 percent of the import duties imposed under the Harmonized Tariff Schedule of the United States. (c) Expenditures Amounts in the National Freight Network Trust Fund shall be available as provided in appropriations Acts only for making expenditures to fund awards under the National Freight Network Grant Program established under section 3(a) of the National Freight Network Trust Fund Act of 2014. . (b) Clerical amendment The table of sections for subchapter A of chapter 98 of such Code is amended by adding at the end the following new item: Sec. 9512. National Freight Network Trust Fund. . 3. National Freight Network Grant Program (a) Establishment There is hereby established in the Department of Transportation a National Freight Network Grant Program (in this section referred to as the Program (b) Grant authority Under the Program, the Secretary of Transportation, in accordance with the national freight strategic plan developed under section 167 (c) Grant recipients Under the Program, the Secretary may make a grant to the following: (1) A State. (2) A regional or local transportation organization. (3) A port authority. (d) Applications To be eligible for a grant under the Program, an entity specified in subsection (c) shall submit to the Secretary an application regarding a proposed project at such time, in such form, and containing such information as the Secretary determines is appropriate. (e) Selection criteria In making grants under the Program, the Secretary shall evaluate and select projects on a competitive basis by considering the potential of the projects to— (1) generate national economic benefits; (2) improve the performance of key corridors and gateways; (3) reduce congestion; (4) improve transportation safety; and (5) enhance the national freight network. (f) Federal share The Federal share of the cost of a project assisted with a grant under the Program shall be 90 percent. (g) Authorization of appropriations There is authorized to be appropriated each fiscal year to carry out the Program the amounts available in the National Freight Network Trust Fund established under section 9512 (h) National freight network defined In this section, the term national freight network (1) the national freight network established under section 167 (2) roads and rail lines that connect such network to a port; (3) on-dock rail; (4) projects that appear in a State freight plan; (5) projects that appear in a regional transportation plan; (6) high freight volume roadway or rail corridors that provide connectivity for— (A) ports; (B) intermodal connectors; (C) multimodal freight facilities; (D) multistate freight corridors; (E) international borders; or (F) airports; and (7) railway-highway grade separations. 4. National freight policy Section 167(c)(1) , and update every 5 years thereafter, shall establish

Summary: National Freight Network Trust Fund Act of 2014 - Amends the Internal Revenue Code to establish the National Freight Network Trust Fund, from which expenditures shall be made to fund awards under the National Freight Network Grant Program. Appropriates to the Fund amounts equivalent to 5% of the import duties imposed under the Harmonized Tariff Schedule of the United States. Establishes such Program in the Department of Transportation (DOT), under which the Secretary of Transportation shall make grants to states, regional or local transportation organizations, or port authorities to assist projects that improve the performance of the national freight network. Directs the Secretary to evaluate and select projects on a competitive basis by considering their potential to: generate national economic benefits, improve the performance of key corridors and gateways, reduce congestion, improve transportation safety, and enhance the network. Requires the Secretary to update the national freight network every five years.