TIFIA for Airports Act

Bill: 115-s-3647
Sponsor: full_name: Sen. Duckworth, Tammy [D-IL]
Introduced: 2018-11-15
Policy area: Transportation and Public Works
Latest action: action_date: 2018-11-15
text: Read twice and referred to the Committee on Environment and Public Works.

Summaries:
action_date: 2018-11-15
action_desc: Introduced in Senate
text: <p><strong>TIFIA for Airports Act</strong></p> <p>This bill qualifies certain airport-related projects (e.g., airport development and planning, terminal development, airport noise planning) for financing under the Transportation Infrastructure Finance and Innovation Act (TIFIA). The TIFIA program provides credit assistance, direct loans, and loan guarantees to national or regional transportation projects.</p> <p>The Department of Transportation may enter into an agreement to provide financing under TIFIA for an airport-related project until September 30, 2020, and may extend such deadline to March 30, 2021.

tv_txt: II 115th CONGRESS 2d Session S. 3647 IN THE SENATE OF THE UNITED STATES November 15, 2018 Ms. Duckworth (for herself and Mr. Perdue ) introduced the following bill; which was read twice and referred to the Committee on Environment and Public Works A BILL To allow airport projects to be eligible to participate in the TIFIA program, and for other purposes.

1. Short title This Act may be cited as the TIFIA for Airports Act . 2. Project eligibility (a) In general Notwithstanding any other provision of law, an eligible airport-related project (as defined in section 40117(a) of title 49, United States Code) shall be considered to be a project under section 601(a)(12) of title 23, United States Code. (b) Credit subsidy limitation (1) In general Of the amounts made available to carry out the TIFIA program (as defined in section 601(a) of title 23, United States Code), not more than $10,000,000 may be used for subsidy costs of Federal credit instruments for projects described in subsection (a). (2) Rule of construction Paragraph (1) shall not apply to projects described in subparagraphs (A) through (E) of subsection 601(a)(12) of title 23, United States Code. (c) Period of applicability (1) In general Except as provided in paragraph (2), the Secretary of Transportation may enter into an agreement to make a secured loan or loan guarantee, or make available a line of credit, for a project described in subsection (a) only during the period beginning on the date of enactment of this Act and ending on September 30, 2020. (2) Extension If the Secretary of Transportation does not enter into any agreement under paragraph (1) before September 30, 2020, the Secretary of Transportation may— (A) extend the period under that paragraph to March 30, 2021; and (B) enter into only 1 agreement to make a secured loan or loan guarantee, or make available a line of credit, for a project described in subsection (a).