Rail Infrastructure Development and Expansion Act for the 21st Century

Bill: 110-hr-6004
Sponsor: Rep. Oberstar, James L. [D-MN-8]
Introduced: 2008-05-08 in the House
Policy area: Transportation and Public Works
Subjects: Alaska
Bonds
Collective bargaining
Congress
Congressional reporting requirements
Employee rights
Finance and Financial Sector
Government Operations and Politics
Highspeed ground transportation
Income tax
Infrastructure
Interest
Interstate compacts
Labor and Employment
Railroad employees
Railroad engineering
Railroad freight operations
Railroad passenger traffic
Railroad safety
Railroads
Right-of-way
Tax credits
Tax exclusion
Taxation

Summary:
action_date: 2008-05-08
text: 
Rail Infrastructure Development and Expansion Act for the 21st Century - Amends federal transportation law to authorize the Secretary of Transportation to designate high-speed rail infrastructure bonds if: (1) the bonds are issued by a state, or one or more of the states that have entered into an interstate compact under the Amtrak Reform and Accountability Act of 1997, or by such compact; (2) they are for financing projects that make a substantial contribution to providing the infrastructure required to complete a railroad passenger transportation corridor for high-speed intercity rail passenger service, or for projects for the Alaska Railroad; (3) for a railroad passenger transportation corridor design that includes the use of freight railroad rights-of-way, a written agreement exists between the applicant and the freight railroad regarding such use and other conditions are met; (4) the corridor design eliminates all existing railroad grade crossings that would impede high-speed rail operations; (5) the applicant agrees to comply with certain labor standards with respect to such project; and (6) the applicant agrees not to pay the principal or interest on the bonds using funds derived directly or indirectly from the Highway Trust Fund, except as permitted by existing law. Excludes the interest on such bonds from an individual's gross income.
 
Requires any entity providing high-speed intercity passenger railroad transportation to negotiate over hiring and working conditions with the collective bargaining agent or agents of the employees of any existing rail passenger service it might be replacing.
 
Amends the Internal Revenue Code to allow certain tax credits to holders of qualified high-speed rail infrastructure bonds. 
 
 


Legislative actions:
action_date: 2008-05-09
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
action_date: 2008-05-08
text: 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.
action_date: 2008-05-08
text: 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.
action_date: 2008-05-08
text: 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.
action_date: 2008-05-08
text: Introduced in House
action_date: 2008-05-08
text: Introduced in House