develop rules and procedures to govern the Commit-
tee’s proceedings. 
‘‘(b) COST, SERVICE, AND RIDERSHIP FORECASTS.— 
‘‘(1) IN GENERAL.—Not later than January 31, 
2015, and annually thereafter, Amtrak shall trans-
mit to each State that sponsors a State-supported 
route, and to the Committee on Transportation and 
Infrastructure and the Committee on Appropriations 
of the House of Representatives and the Committee 
on Commerce, Science, and Transportation and the 
Committee on Appropriations of the Senate— 
‘‘(A) a final statement of costs, revenues, 
ridership, and other information determined ap-
propriate by the Committee established under 
subsection (a), pertaining to each such route for 
the prior fiscal year; and 
‘‘(B) a cost, service, and ridership forecast 
for each such route for the upcoming fiscal 
year, developed pursuant to the methodology es-
tablished under section 209 of the Passenger 
Rail Investment and Improvement Act of 2008 
(49 U.S.C. 24101 note). 
‘‘(2) EXCEPTION.—The Committee may estab-
lish a different deadline than is required under para-
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graph (1) for submission of final financial state-
ments and cost, service, and ridership forecasts. 
‘‘(3) QUARTERLY
UPDATES.—Beginning in 
2015, and each year thereafter, Amtrak shall trans-
mit to each State that sponsors a State-supported 
route quarterly updates of the cost, service, and rid-
ership forecast described in paragraph (1)(B) to en-
able States to pace costs against State budgets, plan 
effectively, and address unexpected changes in costs 
in a timely manner, on the following dates: 
‘‘(A) April 30, for the period encompassing 
January through March of such year. 
‘‘(B) July 31, for the period encompassing 
April through June of such year. 
‘‘(C) October 31, for the period encom-
passing July through September of such year. 
‘‘(c) INVOICES.—Not later than February 15, 2015, 
and monthly thereafter, Amtrak shall provide to each 
State that sponsors a State-supported route a monthly in-
voice of the cost of operating such route, including fixed 
costs and third-party costs. 
‘‘(d) DISPUTE RESOLUTION.— 
‘‘(1) REQUEST FOR EXPEDITED RESOLUTION.— 
If a dispute arises with respect to a forecast devel-
oped under subsection (b), an invoice developed 
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under subsection (c), or the terms of a contract for 
operation of a State-supported route negotiated be-
tween Amtrak and a State that sponsors the route, 
either Amtrak or the State may request that the 
Surface Transportation Board conduct expedited 
dispute resolution under this subsection. 
‘‘(2) PROCEDURES.—The Surface Transpor-
tation Board shall establish procedures for expedited 
resolution of disputes brought before it under this 
subsection. 
‘‘(3) BINDING
EFFECT.—The decision of the 
Surface Transportation Board under this subsection 
shall be binding on the parties to the dispute. 
‘‘(e) FRA ASSISTANCE.—The Federal Railroad Ad-
ministration may provide assistance to the parties in the 
course of negotiations for a contract for operation of a 
State-supported route. 
‘‘(f) PERFORMANCE METRICS.—In negotiating a con-
tract for operation of a State-supported route, Amtrak 
and the State or States that sponsor the route shall con-
sider including provisions that provide penalties and incen-
tives for performance based on metrics that take into ac-
count only those factors within the control of Amtrak or 
the State or States. 
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‘‘(g) DEFINITION OF STATE.—In this section, the 
term ‘State’ means each of the 50 States and the District 
of Columbia.’’. 
(b) TABLE OF SECTIONS AMENDMENT.—The table of 
sections for such chapter 247 is amended by adding at 
the end the following new item: 
‘‘24712. State-supported routes.’’. 
SEC. 204. ROUTE AND SERVICE PLANNING DECISIONS. 
Section 208 of the Passenger Rail Investment and 
Improvement Act of 2008 (49 U.S.C. 24101 note) is 
amended to read as follows: 
‘‘SEC. 208. METHODOLOGIES FOR AMTRAK ROUTE AND 
SERVICE PLANNING DECISIONS. 
‘‘(a) METHODOLOGY
DEVELOPMENT.—Not later 
than 180 days after the date of enactment of the Pas-
senger Rail Reform and Investment Act of 2014, as a con-
dition of receiving a grant under section 101 of such Act, 
Amtrak shall obtain the services of an independent entity 
to develop and recommend objective methodologies for 
Amtrak to use in determining what intercity rail passenger 
transportation routes and services it should provide, in-
cluding the establishment of new routes, the elimination 
of existing routes, and the contraction or expansion of 
services or frequencies over such routes. 
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‘‘(b) CONSIDERATIONS.—Amtrak shall require the 
entity, in developing the methodologies described in sub-
section (a), to consider— 
‘‘(1) the current and expected performance and 
service quality of intercity rail passenger transpor-
tation operations, including cost recovery, on-time 
performance, ridership, on-board services, stations, 
facilities, equipment, and other services; 
‘‘(2) connectivity of a route with other routes; 
‘‘(3) the transportation needs of communities 
and populations that are not well served by intercity 
rail passenger transportation service or by other 
forms of intercity transportation; 
‘‘(4) the methodologies of Amtrak and major 
intercity rail passenger transportation service pro-
viders in other countries for determining intercity 
passenger rail routes and services; 
‘‘(5) the views of States, rail carriers that own 
infrastructure over which Amtrak operates, Amtrak 
employee representatives, and other interested par-
ties; and 
‘‘(6) the funding levels that will be available 
under authorization levels that have been enacted 
into law. 
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‘‘(c) RECOMMENDATIONS.—Not later than 1 year 
after the date of enactment of the Passenger Rail Reform 
and Investment Act of 2014, Amtrak shall transmit to the 
Committee on Transportation and Infrastructure of the 
House of Representatives, and the Committee on Com-
merce, Science, and Transportation of the Senate the rec-
ommendations developed by the entity pursuant to sub-
section (a). 
‘‘(d) CONSIDERATION OF RECOMMENDATIONS.—Not 
later than 90 days after transmitting the recommenda-
tions pursuant to subsection (c), the Amtrak Board of Di-
rectors shall consider the adoption of the recommenda-
tions and transmit to the Committee on Transportation 
and Infrastructure of the House of Representatives and 
the Committee on Commerce, Science, and Transportation 
of the Senate a report containing an explanation of any 
reasons for adopting or not adopting the recommenda-
tions.’’. 
SEC. 205. COMPETITION. 
(a) AMENDMENT.—Section 24711 of title 49, United 
States Code, is amended to read as follows: 
‘‘§ 24711. Alternate passenger rail service pilot pro-
gram 
‘‘(a) IN GENERAL.—Not later than 1 year after the 
date of enactment of the Passenger Rail Reform and In-
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time after the deadline established under paragraph 
(2) and award to the winning bidder— 
‘‘(A) the right and obligation to provide 
passenger rail service over that route subject to 
such performance standards as the Federal 
Railroad Administration may require; and 
‘‘(B) an operating subsidy— 
‘‘(i) for the first year at a level not in 
excess of 90 percent of the level in effect 
for that specific route during the fiscal 
year preceding the fiscal year in which the 
petition was received, adjusted for infla-
tion; and 
‘‘(ii) for any subsequent years at the 
level calculated under clause (i), adjusted 
for inflation; and 
‘‘(5) requires that each bid contain a staffing 
plan describing the number of employees needed to 
operate the service, the job assignments and require-
ments, and the terms of work for prospective and 
current employees of the bidder for the service out-
lined in the bid, and that such staffing plan be made 
available by the winning bidder to the public after 
the bid award. 
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‘‘(b) ROUTE LIMITATIONS.—The Federal Railroad 
Administration may not make the program available with 
respect to more than 2 Amtrak intercity passenger rail 
routes. 
‘‘(c) PERFORMANCE STANDARDS; ACCESS TO FACILI-
TIES; EMPLOYEES.—If the Federal Railroad Administra-
tion awards the right and obligation to provide passenger 
rail service over a route under this section to a rail carrier 
or rail carriers— 
‘‘(1) it shall execute a contract with the rail 
carrier or rail carriers for rail passenger operations 
on that route that conditions the operating and sub-
sidy rights on— 
‘‘(A) the service provider continuing to 
provide passenger rail service on the route that 
is no less frequent, nor over a shorter distance, 
than Amtrak provided on that route before the 
award; and 
‘‘(B) the service provider’s compliance with 
the standards established under subsection 
(a)(4)(A), and such additional performance 
standards as the Administration may establish; 
‘‘(2) it shall, if the award is made to a rail car-
rier other than Amtrak, require Amtrak to provide 
access to its reservation system, stations, and facili-
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ties directly related to operations to any rail carrier 
or rail carriers awarded a contract under this sec-
tion, in accordance with subsection (d), necessary to 
carry out the purposes of this section; 
‘‘(3) an employee of any person used by such 
rail carrier or rail carriers in the operation of a 
route under this section shall be considered an em-
ployee of that carrier or carriers and subject to the 
applicable Federal laws and regulations governing 
similar crafts or classes of employees of Amtrak, in-
cluding provisions under section 121 of the Amtrak 
Reform and Accountability Act of 1997 (49 U.S.C. 
4312 note) relating to employees that provide food 
and beverage service; and 
‘‘(4) the winning bidder shall provide hiring 
preference to qualified Amtrak employees displaced 
by the award of the bid, consistent with the staffing 
plan submitted by the bidder, and shall be subject 
to the grant conditions under section 24405 of this 
title. 
‘‘(d) DISPUTES.—If Amtrak and the rail carrier or 
rail carriers awarded a route under this section cannot 
agree upon terms to carry out subsection (c)(2), and the 
Surface Transportation Board finds that access to Am-
trak’s facilities or equipment, or the provision of services 
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by Amtrak, is necessary to carry out subsection (c)(2) and 
that the operation of Amtrak’s other services will not be 
impaired thereby, the Surface Transportation Board shall, 
within 120 days after submission of the dispute, issue an 
order that the facilities and equipment be made available, 
and that services be provided, by Amtrak, and shall deter-
mine reasonable compensation, liability, and other terms 
for use of the facilities and equipment and provision of 
the services. 
‘‘(e) CESSATION OF SERVICE.—If a rail carrier or rail 
carriers awarded a route under this section cease to oper-
ate the service or fail to fulfill their obligations under the 
contract required under subsection (c), the Federal Rail-
road Administration, in collaboration with the Surface 
Transportation Board, shall take any necessary action 
consistent with this title to enforce the contract and en-
sure the continued provision of service, including the in-
stallment of an interim service provider and rebidding the 
contract to operate the service. The entity providing serv-
ice shall either be Amtrak or a rail carrier defined in sub-
section (a)(1). 
‘‘(f) ADEQUATE RESOURCES.—Before taking any ac-
tion allowed under this section, the Secretary shall certify 
that the Federal Railroad Administration has sufficient 
resources appropriated under section 101(b) of Passenger 
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Rail Reform and Investment Act of 2014, or any subse-
quent appropriation, for that purpose that are adequate 
to undertake the program established under this section. 
‘‘(g) BUDGET AUTHORITY.—The Secretary of Trans-
portation may provide to a winning bidder selected under 
this section appropriations authorized under sections 
101(b) of the Passenger Rail Reform and Investment Act 
of 2014, or any subsequent appropriation for the same 
purposes, necessary to cover the operating subsidy de-
scribed in subsection (a)(4)(B).’’. 
(b) REPORT.—Not later than 1 year after the conclu-
sion of the pilot program established under the amend-
ment made by subsection (a), the Federal Railroad Ad-
ministration shall submit to the Committee on Transpor-
tation and Infrastructure of the House of Representatives 
and the Committee on Commerce, Science, and Transpor-
tation of the Senate a report on the results on the pilot 
program established under section 24711 of title 49 
United States Code, and any recommendations for further 
action. 
SEC. 206. FOOD AND BEVERAGE REFORM. 
(a) AMENDMENT.—Chapter 243 of title 49, United 
States Code, is further amended by adding at the end the 
following new section: 
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‘‘§ 24321. Food and beverage reform 
‘‘(a) PLAN.—Not later than 90 days after the date 
of enactment of the Passenger Rail Reform and Invest-
ment Act of 2014, Amtrak shall develop and begin imple-
menting a plan to eliminate, within 5 years of such date 
of enactment, the operating loss associated with providing 
food and beverage service on board Amtrak trains. 
‘‘(b) CONSIDERATIONS.—In developing and imple-
menting the plan, Amtrak shall consider a combination of 
cost management and revenue generation initiatives, in-
cluding— 
‘‘(1) scheduling optimization; 
‘‘(2) on-board logistics; 
‘‘(3) product development and supply chain effi-
ciency; 
‘‘(4) training, awards, and accountability; 
‘‘(5) technology enhancements and process im-
provements; and 
‘‘(6) ticket revenue allocation. 
‘‘(c) SAVINGS CLAUSE.—Amtrak shall ensure that no 
Amtrak employee holding a position as of the date of en-
actment of the Passenger Rail Reform and Investment Act 
of 2014 is involuntarily separated because of— 
‘‘(1) the development and implementation of the 
plan required under subsection (a); or 
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‘‘(2) any other action taken by Amtrak to im-
plement this section. 
‘‘(d) NO
FEDERAL
FUNDING
FOR
OPERATING 
LOSSES.—Beginning on the date that is 5 years after the 
date of enactment of the Passenger Rail Reform and In-
vestment Act of 2014, no Federal funds may be used to 
cover any operating loss associated with providing food 
and beverage service on a route operated by Amtrak or 
an alternative passenger rail service provider that operates 
a route in lieu of Amtrak pursuant to section 24711. 
‘‘(e) REPORT.—Not later than 120 days after the 
date of enactment of the Passenger Rail Reform and In-
vestment Act of 2014, and annually thereafter for 5 years, 
Amtrak shall transmit to the Committee on Transpor-
tation and Infrastructure of the House of Representatives 
and the Committee on Commerce, Science, and Transpor-
tation of the Senate a report containing the plan developed 
pursuant to subsection (a) and a description of progress 
in the implementation of the plan.’’. 
(b) CONFORMING AMENDMENT.—The table of sec-
tions for chapter 243 of title 49, United States Code, is 
amended by adding at the end the following new item: 
‘‘24321. Food and beverage reform.’’. 
SEC. 207. RIGHT OF WAY LEVERAGING. 
(a) REQUEST FOR PROPOSALS.—Not later than 180 
days after the date of enactment of this Act, Amtrak shall 
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issue a Request for Proposals seeking private sector per-
sons or entities to utilize Amtrak-owned right-of-way for 
telecommunications systems, energy distribution systems, 
and other activities considered appropriate by Amtrak. 
The Request for Proposals shall provide sufficient infor-
mation on Amtrak’s right-of-way real estate assets to en-
able respondents to propose an arrangement that will 
monetize such assets through revenue sharing agreements 
with Amtrak. 
(b) CONSIDERATION OF PROPOSALS.—Not later than 
1 year after the date of enactment of this Act, the Amtrak 
Board of Directors shall review and consider each proposal 
submitted pursuant to subsection (a). Amtrak may enter 
into such agreements as are necessary to implement any 
such proposal or proposals. 
(c) REPORT
TO CONGRESS.—Not later than 18 
months after the date of enactment of this Act, Amtrak 
shall transmit to the Committee on Transportation and 
Infrastructure of the House of Representatives and the 
Committee on Commerce, Science, and Transportation of 
the Senate a report on the Request for Proposals required 
by this section, including summary information of any pro-
posals submitted to Amtrak and any proposals accepted 
by the Amtrak Board of Directors. 
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SEC. 208. STATION DEVELOPMENT. 
(a) REPORT ON DEVELOPMENT OPTIONS.—Not later 
than 1 year after the date of enactment of this Act, Am-
trak shall transmit to the Committee on Transportation 
and Infrastructure of the House of Representatives and 
the Committee on Commerce, Science, and Transportation 
of the Senate a report on options to enhance development 
around Amtrak stations, including— 
(1) strengthening multimodal connections, in-
cluding intercity buses; 
(2) options for capturing development-related 
revenue streams; and 
(3) other opportunities to better leverage sta-
tion assets. 
(b) PROPOSALS.— 
(1) REQUEST FOR PROPOSALS.—Not later than 
18 months after the date of enactment of this Act, 
Amtrak shall issue a Request for Proposals seeking 
persons or entities, where appropriate, to carry out 
the options identified under subsection (a). 
(2) CONSIDERATION OF PROPOSALS.—Not later 
than 24 months after the date of enactment of this 
Act, the Amtrak Board of Directors shall review and 
consider each proposal submitted pursuant to para-
graph (1). Amtrak may enter into such agreements 
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as are necessary to implement any such proposal or 
proposals. 
(c) REPORT
TO CONGRESS.—Not later than 30 
months after the date of enactment of this Act, Amtrak 
shall transmit to the Committee on Transportation and 
Infrastructure of the House of Representatives and the 
Committee on Commerce, Science, and Transportation of 
the Senate a report on the Request for Proposals required 
by this section, including summary information of any pro-
posals submitted to Amtrak and any proposals accepted 
by the Amtrak Board of Directors. 
SEC. 209. AMTRAK DEBT. 
Section 205 of the Passenger Rail Investment and 
Improvement Act of 2008 (49 U.S.C. 24101 note) is 
amended— 
(1) in subsection (a), by inserting ‘‘, to the ex-
tent provided in advance in appropriations Acts’’ 
after ‘‘Amtrak’s indebtedness’’; 
(2) by striking ‘‘as of the date of enactment of 
this Act’’ each place it appears; 
(3) in subsection (a), by striking the second 
sentence; 
(4) in subsection (b), by striking ‘‘The Secretary 
of the Treasury, in consultation’’ and inserting ‘‘To 
the extent amounts are provided in advance in appro-
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priations Acts, the Secretary of the Treasury, in con-
sultation’’; 
(5) in subsection (d), by inserting ‘‘, to the extent 
provided in advance in appropriations Acts’’ after 
‘‘as appropriate’’; 
(4)(6) in subsection (e)(1), by striking ‘‘by sec-
tion 102 of this division’’; and 
(5)(7) in subsection (e)(2), by striking ‘‘by sec-
tion 102’’ and inserting ‘‘for Amtrak’’. 
SEC. 210. AMTRAK PILOT PROGRAM FOR PASSENGERS 
TRANSPORTING DOMESTICATED CATS AND 
DOGS. 
(a) IN GENERAL.—Not later than 1 year after the 
date of enactment of this Act, Amtrak shall develop a pilot 
program that allows passengers to transport domesticated 
cats or dogs on certain trains operated by Amtrak. 
(b) PET POLICY.—In developing the pilot program 
required under subsection (a), Amtrak shall— 
(1) in the case of a passenger train that is com-
prised of more than 1 car, designate, where feasible, 
at least 1 car in which a ticketed passenger may 
transport a domesticated cat or dog in the same 
manner as carry-on baggage if— 
(A) the cat or dog is contained in a pet 
kennel; 
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(3) collect fees for each cat or dog transported 
by a ticketed passenger in an amount that, in the 
aggregate and at a minimum, covers the full costs 
of the pilot program. 
(c) REPORT.—Not later than 1 year after the pilot 
program required under subsection (a) is first imple-
mented, Amtrak shall transmit to the Committee on 
Transportation and Infrastructure of the House of Rep-
resentatives and the Committee on Commerce, Science, 
and Transportation of the Senate a report containing an 
evaluation of the pilot program. 
(d) LIMITATION ON STATUTORY CONSTRUCTION.— 
(1) SERVICE ANIMALS.—The pilot program re-
quired under subsection (a) shall be separate from 
and in addition to the policy governing Amtrak pas-
sengers traveling with service animals. Nothing in 
this section may be interpreted to limit or waive the 
rights of passengers to transport service animals. 
(2) ADDITIONAL TRAIN CARS.—Nothing in this 
section may be interpreted to require Amtrak to add 
additional train cars or modify existing train cars. 
(3) FEDERAL FUNDS.—No Federal funds may 
be used to implement the pilot program required 
under this section. 
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SEC. 211. AMTRAK BOARDING PROCEDURES. 
(a) REPORT.—Not later than 6 months after the date 
of enactment of this Act, the Amtrak Office of Inspector 
General shall transmit to the Committee on Transpor-
tation and Infrastructure of the House of Representatives 
and the Committee on Commerce, Science, and Transpor-
tation of the Senate a report that— 
(1) evaluates Amtrak’s boarding procedures at 
its 10 stations through which the most people pass; 
(2) compares Amtrak’s boarding procedures 
to— 
(A) commuter railroad boarding proce-
dures at stations shared with Amtrak; 
(B) international intercity passenger rail 
boarding procedures; and 
(C) fixed guideway transit boarding proce-
dures; and 
(3) makes recommendations, as appropriate, to 
improve Amtrak’s boarding procedures, including 
recommendations regarding the queuing of pas-
sengers and free-flow of all station-users. 
(b) CONSIDERATION OF RECOMMENDATIONS.—Not 
later than 6 months after the release of the report re-
quired under subsection (a), the Amtrak Board of Direc-
tors shall consider each recommendation provided under 
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subsection (a)(3) for implementation across the Amtrak 
system. 
TITLE III—INTERCITY 
PASSENGER RAIL POLICY 
SEC. 301. FEDERAL-STATE PARTNERSHIP FOR NORTHEAST 
CORRIDOR DEVELOPMENT AND IMPROVE-
MENT. 
(a) AMENDMENT.—Chapter 244 of title 49, United 
States Code, is amended by adding at the end the fol-
lowing new section: 
‘‘§ 24407. Federal-State partnership for Northeast 
Corridor rehabilitation and improvement 
‘‘(a) IN GENERAL.—The Secretary of Transportation 
shall develop and implement a program for issuing grants 
to applicants, on a competitive basis, for the purpose of 
financing the capital projects included in the Northeast 
Corridor Priority Project List developed under subsection 
(c). 
‘‘(b) DEFINITIONS.—In this section, the following 
definitions apply: 
‘‘(1) APPLICANT.—The term ‘applicant’ means 
a State (including the District of Columbia), a group 
of States, an Interstate Compact, or a public agency 
established by one or more States and having re-
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sponsibility for providing intercity passenger or com-
muter rail service. 
‘‘(2) 
MAJOR
STATE-OF-GOOD-REPAIR 
PROJECT.—The term ‘major state-of-good-repair 
project’ means a capital project primarily intended 
to replace, rehabilitate or repair major Northeast 
Corridor infrastructure assets utilized for providing 
intercity rail passenger transportation, including 
tunnels, bridges, stations, and other assets as deter-
mined by the Secretary. 
‘‘(3) IMPROVEMENT PROJECT.—The term ‘im-
provement project’ means a capital project primarily 
intended to improve intercity passenger rail perform-
ance on the Northeast Corridor, including reduced 
trip times, increased train frequencies, higher oper-
ating speeds, and other improvements as determined 
by the Secretary. 
‘‘(c) NORTHEAST CORRIDOR PRIORITY PROJECT 
LIST.—The Northeast Corridor Infrastructure and Oper-
ations Advisory Commission, established under section 
24905, shall develop and approve a Northeast Corridor 
Priority Project List that shall include— 
‘‘(1) a list of prioritized individual major state- 
of-good-repair projects and improvement projects 
along the Northeast Corridor that— 
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‘‘(A) can be completed based on— 
‘‘(i) the funding authorized under sec-
tion 103(b) of the Passenger Rail Reform 
and Investment Act of 2014; 
‘‘(ii) any subsequent applicable au-
thorization in effect; 
‘‘(iii) in the absence of such an au-
thorization, a 5-year funding amount based 
on the most recent appropriation; or 
‘‘(iv) the requirements of subsection 
(d); and 
‘‘(B) are consistent with the Northeast 
Corridor capital investment plan required under 
section 24906(a); 
‘‘(2) an identification of the applicant for each 
individual project; 
‘‘(3) an identification of the sources of non- 
Federal matching funds for each project; and 
‘‘(4) a description of the benefits each project 
will bring to intercity rail passenger services. 
‘‘(d) USE OF FUNDS.—The Federal grants author-
ized under this section shall be for no more than 50 per-
cent of the net project cost of the project involved. 
‘‘(e) APPLICABILITY OF CAPITAL GRANT REQUIRE-
MENTS.—Except as specifically provided in this section, 
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the use of any amounts appropriated for grants under this 
section shall be subject to the requirements of this chap-
ter. 
‘‘(f) MATCH REQUIREMENTS.—No grants may be ob-
ligated to an applicant under this section unless the appli-
cant has transmitted to the Secretary of Transportation 
a binding written commitment to provide all amounts nec-
essary for the purpose of matching Federal contributions 
as required by this section. 
‘‘(g) UPDATES TO LIST.—The Northeast Corridor 
Infrastructure and Operations Advisory Commission shall 
revise the NEC Priority Project List as necessary to re-
flect— 
‘‘(1) any differences in the availability of Fed-
eral funding from the levels assumed for purposes of 
subsection (c)(1)(A) (i) and (ii); 
‘‘(2) any elimination or addition of projects; 
and 
‘‘(3) any reduction or increase in benefits to be 
derived from a project. 
‘‘(h) AVAILABILITY.—Amounts appropriated for car-
rying out this section shall remain available until ex-
pended. 
‘‘(i) SAVINGS CLAUSE.—Nothing in this section shall 
supplant the requirement of applicants to compensate Am-
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trak for the use of Amtrak facilities or services pursuant 
to section 24905(c). 
‘‘(j) DEFINITION.—For purposes of this section, the 
term ‘Northeast Corridor’ means the Northeast Corridor 
main line between Boston, Massachusetts, and the District 
of Columbia, and the Northeast Corridor branch lines con-
necting to Harrisburg, Pennsylvania, Springfield, Massa-
chusetts, and Spuyten Duyvil, New York, and facilities 
and services used to operate and maintain those lines.’’. 
(b) CONFORMING AMENDMENT.—The table of sec-
tions for chapter 244 of title 49, United States Code, is 
amended by adding at the end the following new item: 
‘‘24407. Federal-State partnership for Northeast Corridor rehabilitation and im-
provement.’’. 
SEC. 302. RRIF IMPROVEMENTS. 
(a) REGULATIONS.—Not later than 1 year after the 
date of enactment of this Act, the Secretary of Transpor-
tation shall issue regulations implementing the amend-
ments made by this section. 
(b) COLLATERAL.—Section 502(h)(2) of the Railroad 
Revitalization and Regulatory Reform Act of 1976 (45 
U.S.C. 822(h)(2)) is amended— 
(1) by striking ‘‘(2) The Secretary’’ and insert-
ing ‘‘(2)(A) The Secretary’’; 
(2) by inserting ‘‘The Secretary may subordi-
nate rights of the Secretary under any provision of 
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title 49 or title 23 of the United States Code, to the 
rights of the Secretary under this section and sec-
tion 503.’’ after ‘‘from another source.’’; and 
(3) by adding at the end the following new sub-
paragraph: 
‘‘(B) The Secretary shall, for purposes of making a 
finding under subsection (g)(4), accept the net present 
value on a future stream of State or local subsidy income 
or dedicated revenue as collateral offered to secure the 
loan.’’. 
(c) OFFICE
OF MANAGEMENT
AND BUDGET RE-
VIEW.—Section 502(i) of such Act (45 U.S.C. 822(i)) is 
amended by inserting ‘‘In order to enable compliance with 
such time limit, the Office of Management and Budget 
shall take any actions required with respect to the applica-
tion within such 90-day period.’’ after ‘‘disapprove the ap-
plication.’’. 
(d) RRIF APPLICATION.—Section 502(i) of such Act 
(45 U.S.C. 822(i)) is further amended— 
(1) by striking ‘‘DISAPPROVAL.—Not later than 
90 days after receiving’’ and inserting ‘‘DIS-
APPROVAL.— 
‘‘(1) IN
GENERAL.—Not later than 90 days 
after an application is determined pursuant to para-
graph (2) to be’’; and 
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(2) by adding at the end the following new 
paragraphs: 
‘‘(2) COMPLETION OF APPLICATION.—The Sec-
retary shall establish procedures for making a deter-
mination, not later than 45 days after submission of 
an application under this section, whether the appli-
cation is complete. Such procedures shall— 
‘‘(A) provide for a checklist of the required 
components of a complete application; 
‘‘(B) require the Secretary to provide to 
the applicant a description of the specific com-
ponents of the application that remain incom-
plete if an application is determined to be in-
complete; and 
‘‘(C) permit reapplication without preju-
dice for applications determined to be incom-
plete. 
‘‘(3) INDEPENDENT FINANCIAL ANALYST.—The 
Secretary shall assign an independent financial ana-
lyst within 45 days of submittal of a complete appli-
cation.’’. 
(e) POSITIVE TRAIN CONTROL.—Section 502(c)(1) of 
such Act (45 U.S.C. 822(c)(1)) is amended by inserting 
‘‘, including projects for the installation of a positive train 
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control (as defined in section 20157(i) of title 49, United 
States Code) system’’ after ‘‘public safety’’. 
(f) REPORT TO CONGRESS.—Section 502 of such Act 
(45 U.S.C. 822) is further amended by adding at the end 
the following new subsection: 
‘‘(k) REPORT TO CONGRESS.—Not later than 1 year 
after the date of enactment of the Passenger Rail Reform 
and Investment Act of 2014, and annually thereafter, the 
Secretary shall transmit to Congress a report on the pro-
gram under this section that provides information on loans 
approved and disapproved by the Secretary during the pre-
vious year. Such report shall not disclose the identity of 
direct loan or loan guarantee recipients. The report shall 
describe— 
‘‘(1) the number of pre-application meetings 
with potential applicants; 
‘‘(2) the number of applications received and 
determined complete under subsection (i)(2), includ-
ing the requested loan amounts; 
‘‘(3) the dates of receipt of applications; 
‘‘(4) the dates applications were determined 
complete under subsection (i)(2); 
‘‘(5) the number of applications determined in-
complete under subsection (i)(2); 
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‘‘(6) the final decision dates for both approvals 
and disapprovals of applications; 
‘‘(7) the number of applications withdrawn 
from consideration; and 
‘‘(8) the annual loan portfolio asset quality.’’. 
SEC. 303. NEC FAST FORWARD. 
(a) NORTHEAST CORRIDOR AUTHORITY.—Section 
502(d) of the Railroad Revitalization and Regulatory Re-
form Act of 1976 (45 U.S.C. 822(d)) is amended by in-
serting ‘‘40 percent shall be available solely for projects 
described in subsection (l)(1), and’’ after ‘‘Of this 
amount,’’. 
(b) NORTHEAST CORRIDOR FAST FORWARD PRO-
GRAM.—Section 502 of such Act is further amended by 
adding at the end the following new subsection: 
‘‘(l) NORTHEAST CORRIDOR FAST FORWARD.— 
‘‘(1) PURPOSE.—The Secretary, as part of the 
Railroad Rehabilitation and Improvement Financing 
program, shall provide direct loans and loan guaran-
tees to eligible entities described in subsection (a) 
for capital projects to improve the Northeast Cor-
ridor (as used in section 24906 of title 49, United 
States Code). 
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‘‘(2) COLLATERAL.—Loans made or guaranteed 
under this subsection shall require collateral equal to 
the loan amount requested. 
‘‘(3) INVESTMENT
GRADE
RATING.—A direct 
loan or loan guarantee shall be made under this sub-
section only if a rating agency has assigned an in-
vestment grade rating of BBB minus, Baa3, bbb 
minus, BBB (low), (or equivalent) or higher to the 
project obligation. For purposes of this paragraph, 
the term ‘rating agency’ means a credit rating agen-
cy registered with the Securities and Exchange Com-
mission as a nationally recognized statistical rating 
organization (as that term is defined in section 3(a) 
of the Securities Exchange Act of 1934 (15 U.S.C. 
78c(a))). 
‘‘(4) INCLUSION
IN
NEC
PLANNING.—Loans 
and loan guarantees made under this subsection 
shall be for projects that are included in the most 
recent 5-year budget and business plan prepared 
pursuant to section 24906(a) of title 49, United 
States Code. 
‘‘(5) REFINANCING.—Loans made or guaran-
teed under this subsection shall not be used for the 
refinancing of outstanding debt incurred. 
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‘‘(6) COHORT
OF
LOANS.—Subsection (f)(4) 
shall not apply to loans made or guaranteed under 
this subsection.’’. 
(c) REPORT ON LEVERAGING RRIF.—Not later than 
180 days after the date of enactment of this Act, the 
Comptroller General shall transmit to the Committee on 
Transportation and Infrastructure of the House of Rep-
resentatives and the Committee on Commerce, Science, 
and Transportation of the Senate a report identifying po-
tential revenue sources, projects, and service improve-
ments that could be achieved by the amendments made 
by subsections (a) and (b). 
(d) CONDITIONS OF FUNDING.— 
(1) GRANTS.—Section 24405 of title 49, United 
States Code, is amended— 
(A) by striking ‘‘15 days’’ and inserting 
‘‘30 days’’ in subsection (a)(4)(B); and 
(B) by adding at the end the following: 
‘‘(12) Not later than 1 year after the date of enact-
ment of the Passenger Rail Reform and Investment Act 
of 2014, and annually thereafter, the Secretary shall 
transmit to the Committee on Commerce, Science, and 
Transportation of the Senate and the Committee on 
Transportation and Infrastructure of the House of Rep-
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resentatives a report listing any waiver issued under this 
section during the preceding year.’’. 
(2) RRIF.—Section 502(h)(3) of the Railroad 
Revitalization and Regulatory Reform Act of 1976 
(45 U.S.C. 822(h)(3)) is amended— 
(A) by striking ‘‘and’’ at the end of sub-
paragraph (A); 
(B) by striking the period at the end of 
subparagraph (B) and inserting ‘‘; and’’; and 
(C) by adding at the end the following: 
‘‘(C) the requirements of section 24405(a) of 
title 49, United States Code.’’. 
SEC. 304. LARGE CAPITAL PROJECT REQUIREMENTS. 
Section 24402 of title 49, United States Code, is 
amended by adding at the end the following subsection: 
‘‘(m) LARGE CAPITAL PROJECT REQUIREMENTS.— 
‘‘(1) IN GENERAL.—For a grant awarded under 
this 
chapter 
for 
an 
amount 
in 
excess 
of 
$1,000,000,000, the following conditions shall apply: 
‘‘(A) The Secretary of Transportation shall 
not obligate any funding unless the applicant 
demonstrates to the satisfaction of the Sec-
retary that it has committed and will be able to 
fulfill the non-Federal share required for the 
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grant within the applicant’s proposed project 
completion timetable. 
‘‘(B) The Secretary shall not obligate any 
funding for work activities that occur after the 
completion of final design unless— 
‘‘(i) the applicant transmits to the 
Secretary a financial plan that generally 
identifies the sources of the non-Federal 
funding required for any subsequent seg-
ments or phases of the corridor service de-
velopment program covering the project for 
which the grant is made; 
‘‘(ii) the grant will result in a useable 
segment, a transportation facility, or 
equipment, that has operational independ-
ence; and 
‘‘(iii) the intercity passenger rail bene-
fits anticipated to result from the grant, 
such as increased speed, improved on-time 
performance, reduced trip time, increased 
frequencies, new service, safety improve-
ments, improved accessibility, or other sig-
nificant enhancements are detailed by the 
grantee and approved by the Secretary. 
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(1) in section 22106(b), by striking ‘‘interest 
thereof’’ and inserting ‘‘interest thereon’’; 
(2) in section 24101(b), by striking ‘‘subsection 
(d)’’ and inserting ‘‘subsection (c)’’; and 
(3) in section 24706— 
(A) in subsection (a)(1), by striking ‘‘a dis-
continuance under section 24704 or or’’; 
(B) in subsection (a)(2), by striking ‘‘sec-
tion 24704 or’’; and 
(C) in subsection (b), by striking ‘‘section 
24704 or’’. 
(b) TABLE OF SECTIONS AMENDMENT.—The item 
relating to section 24316 in the table of sections for chap-
ter 243 of such title is amended by striking ‘‘Plan to as-
sist’’ and inserting ‘‘Plans to address needs of’’. 
(c) PASSENGER RAIL INVESTMENT AND IMPROVE-
MENT ACT AMENDMENTS.—Section 305 of the Passenger 
Rail Investment and Improvement Act of 2008 (49 U.S.C. 
24101 note) is amended— 
(1) in subsection (a), by inserting after ‘‘equip-
ment manufacturers,’’ the following: ‘‘nonprofit or-
ganizations representing employees who perform 
overhaul and maintenance of passenger railroad 
equipment,’’; 
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