ator is the best, taking into account costs 
and other factors; 
‘‘(vi) each proposed project to meet all 
safety and security requirements that are 
applicable to the project under law; and 
‘‘(vii) each project to be compatible 
with, and operated in conformance with— 
‘‘(I) plans developed pursuant to 
the requirements under section 135 of 
title 23; and 
‘‘(II) the national rail plan (if 
available); 
‘‘(B) 
select 
high-performance 
rail 
projects— 
‘‘(i) that are anticipated to result in 
significant improvements to intercity rail 
passenger service, including consideration 
of the project’s— 
‘‘(I) levels of estimated ridership, 
increased on-time performance, re-
duced trip time, or additional service 
frequency to meet anticipated or exist-
ing demand; 
‘‘(II) anticipated provision of 
intercity passenger rail service in his-
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pamtmann on DSKBC07HB2PROD with BILLS
torically and persistently unconnected 
and under-connected regions; and 
‘‘(III) anticipated favorable im-
pact on air or highway traffic conges-
tion, capacity, or safety; 
‘‘(ii) for which there is a high degree 
of confidence that the proposed project is 
feasible and will result in the anticipated 
benefits, as indicated by— 
‘‘(I) 
the 
project’s 
precommencement 
compliance 
with 
environmental 
protection 
require-
ments; 
‘‘(II) the readiness of the project 
to be commenced; and 
‘‘(III) other relevant factors de-
termined by the Secretary; and 
‘‘(iii) for which the level of the antici-
pated benefits compares favorably to the 
amount of Federal funding requested 
under this section; and 
‘‘(C) give greater consideration to projects 
that— 
‘‘(i) are anticipated to result in bene-
fits to other modes of transportation and 
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to the public at large, including consider-
ation of the project’s— 
‘‘(I) encouragement of intermodal 
connectivity through provision of di-
rect connections between train and 
transit stations, airports, bus termi-
nals, subway stations, ferry ports, and 
other modes of transportation; 
‘‘(II) anticipated improvement of 
conventional 
intercity 
passenger, 
freight, or commuter rail operations; 
‘‘(III) use of positive train con-
trol technologies; 
‘‘(IV) environmental benefits, in-
cluding projects that involve the pur-
chase of environmentally sensitive, 
fuel-efficient or electrified, and cost- 
effective passenger rail equipment; 
‘‘(V) anticipated reduction of 
greenhouse gas emissions; 
‘‘(VI) anticipated improvement of 
air quality and public health; 
‘‘(VII) anticipated positive eco-
nomic and employment impacts, in-
cluding development in the areas near 
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passenger stations, historic districts, 
or other opportunity zones; 
‘‘(VIII) encouragement of State 
and private contributions toward sta-
tion development, energy and environ-
mental efficiency, and economic bene-
fits; and 
‘‘(IX) provision of enhanced ac-
cess for persons with disabilities to 
intercity passenger rail service; and 
‘‘(ii) incorporate equitable financial 
participation in the project’s financing, in-
cluding consideration of— 
‘‘(I) donated or discounted inter-
ests in real or personal property; 
‘‘(II) donated services; 
‘‘(III) financial contributions by 
intercity passenger, freight, and com-
muter rail carriers commensurate with 
the benefit expected to their oper-
ations; 
‘‘(IV) 
financial 
commitments 
from host railroads, non-Federal gov-
ernmental entities, nongovernmental 
entities, and others; and 
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‘‘(V) Federal loans, including 
loans under title V of the Railroad 
Revitalization and Regulatory Reform 
Act of 1976 (45 U.S.C. 821 et seq.). 
‘‘(3) GRANT CONDITIONS.—The Secretary shall 
require each recipient of a grant under this chapter 
to comply with the grant requirements under section 
22905. 
‘‘(4) STATE RAIL PLANS.—State rail plans com-
pleted before the date of enactment of the Passenger 
Rail Investment and Improvement Act of 2008 (divi-
sion B of Public Law 110–432) that substantially 
meet the requirements of chapter 227 of this title, 
as determined by the Secretary pursuant to section 
22706, shall be deemed by the Secretary to have met 
the requirements of paragraph (2)(A)(i). 
‘‘(e) FEDERAL SHARE.— 
‘‘(1) IN GENERAL.—The Federal share of the 
cost of a capital project financed under this section 
shall not exceed 90 percent of the project’s net cap-
ital cost. 
‘‘(2) IN-KIND MATCH.—The fair market value 
of in-kind contributions to a capital project financed 
under this section shall be treated as non-Federal 
matching funds for purposes of paragraph (1). 
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‘‘(3) LOANS.—The value of any Federal loans 
paid back with non-Federal funds shall be treated as 
non-Federal matching funds for purposes of para-
graph (1). 
‘‘(f) ISSUANCE OF REGULATIONS.—Not later than 1 
year after the date of the enactment of this section, the 
Secretary shall issue regulations to carry out this section. 
‘‘(g) AUTHORIZATION OF APPROPRIATIONS.— 
‘‘(1) IN GENERAL.—There are authorized to be 
appropriated to the Secretary to carry out this sec-
tion $5,000,000,000 for each of the fiscal years 
2022 through 2026. 
‘‘(2) AVAILABILITY OF FUNDS.—Any amounts 
appropriated for a fiscal year pursuant to paragraph 
(1) that remain unobligated at the end of such fiscal 
year shall be made available for eligible projects in 
the following fiscal year.’’. 
(b) CLERICAL AMENDMENT.—The chapter analysis 
for chapter 261 of title 49, United States Code, is amend-
ed by adding at the end the following: 
‘‘26107. Intercity passenger rail service investment program.’’. 
Æ 
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