Transportation Funding Fairness Act

Bill: 116-hr-731
Sponsor: full_name: Rep. Malinowski, Tom [D-NJ-7]
Introduced: 2019-01-23
Policy area: Transportation and Public Works
Subjects: Government lending and loan guarantees

Infrastructure development

Railroads

Roads and highways

Transportation programs funding
Latest action: action_date: 2019-02-07
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Summaries:
action_date: 2019-01-23
action_desc: Introduced in House
text: <p><strong>Transportation Funding Fairness Act</strong></p> <p>This bill modifies the treatment of loans under the transportation infrastructure finance and innovation act program and the railroad rehabilitation and improvement financing program in consideration for fixed guideway capital investment grants.</p> <p>Specifically, the bill</p> <ul> <li>permits a state or other obligator to make a determination whether loans under these programs are treated as a federal or non-federal share of a project; and</li> <li>requires the Department of Transportation to treat the proceeds of a loan that a state has elected to treat as a non-federal share of project costs as a local financial commitment, and not treat such proceeds as non-local sources of capital and operating financing.</li> </ul>

tv_txt: I 116th CONGRESS 1st Session H. R. 731 IN THE HOUSE OF REPRESENTATIVES January 23, 2019 Mr. Malinowski (for himself, Mr. Norcross , Mr. Van Drew , Mr. Kim , Mr. Pallone , Mr. Pascrell , Mr. Payne , and Ms. Sherrill ) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure A BILL To modify the treatment of certain loans in consideration for fixed guideway capital investment grants, and for other purposes.

1. Short title This Act may be cited as the Transportation Funding Fairness Act . 2. Treatment of certain loans in consideration for fixed guideway capital investment grants (a) In general Section 603(b)(8) of title 23, United States Code, is amended to read as follows: (8) Non-Federal share (A) In general A State or other eligible sponsor may elect to have proceeds of a covered loan treated as any non-Federal share of project costs required under this title or chapter 53 of title 49, if the loan is repayable from non-Federal funds. (B) Covered loan In this subparagraph, the term covered loan means— (i) a secured loan under the TIFIA program; and (ii) a loan issued pursuant to the railroad rehabilitation and improvement financing program authorized under sections 501 through 503 of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 821–823 ). . (b) Special rule for fixed guideway capital investment grants Section 5309(f) of title 49, United States Code, is amended by adding at the end the following: (3) Special rule for proceeds of a covered loan (A) In general In making the determination and assessment pursuant to paragraphs (1) and (2), the Secretary— (i) shall treat proceeds of a covered loan that a State has elected to treat as a non-Federal share of project costs pursuant to section 603(b)(8) of title 23, United States Code, as a local financial commitment; and (ii) may not treat any such proceeds as non-local sources of capital and operating financing. (B) Covered loan In this subsection, the term covered loan means— (i) a secured loan under the TIFIA program (as such term is defined in section 601 of title 23, United States Code); and (ii) a loan issued pursuant to the railroad rehabilitation and improvement financing program authorized under sections 501 through 503 of the Railroad Revitalization and Regulatory Reform Act of 1976 ( 45 U.S.C. 821–823 ). .