Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Regional Investments for National
Growth Act of 1997''.

SEC. 2. FINDINGS.

Congress finds that--
(1) the economic infrastructure of metropolitan regions
assists businesses in those regions in providing quality goods
and services at a low cost;
(2) maintaining and improving the economic infrastructure
of metropolitan regions is essential for the success of the
Nation in the world economy; and
(3) building efficient transportation links within and
between metropolitan regions is critical to that economic
infrastructure.

SEC. 3. REGIONAL INVESTMENTS FOR NATIONAL GROWTH PROGRAM.

(a) Establishment.--The Secretary of Transportation shall establish
a regional investments for national growth program (hereinafter in this
section referred to as the ''RING program'') for the purpose of
identifying and funding large multi-State and regional transportation
projects that are essential to the global competitiveness of the United
States.
(b) Eligible Projects.--
(1) In general.--Regional transportation infrastructure
investments that include participation by two or more States or
public authorities representing two or more States, or improve
access to international commerce centers such as ports,
commercial aviation facilities, and major rail terminals, and
meets the requirements of paragraph (2), shall be eligible for
funding under the RING program.
(2) Requirements.--In order to be eligible for funding
under the RING program, a project shall--
(A) support the economic growth of the Nation
through improved movement of people and goods;
(B) improve intermodal connections by increasing
access to ports, airports, rail terminals, distribution
centers, or other passenger or freight rail hubs;
(C) address capacity constraints that hamper the
movement of people and goods between States or
metropolitan regions;
(D) contribute to the global competitiveness of the
United States; and
(E) not be currently funded for construction.
(c) Selection Process.--
(1) Solicitation of proposals.--Within 6 months of the date
of the enactment of this Act, the Secretary of Transportation
shall solicit proposals for projects to be carried out under
the RING program. Any State, multi-State region, or multi-State
agency may submit a proposal.
(2) Recommended projects.--Within 2 years of such date of
enactment, the Secretary shall transmit a report to Congress
recommending eligible projects.
(3) Final proposals.--Within 1 year of the date of issuance
of the report under paragraph (2), sponsors of those projects
recommended as eligible shall submit a final proposal to the
Secretary.
(4) Ranking of projects.--Within 6 months of receiving
final proposals, the Secretary shall transmit a report to
Congress ranking the projects in priority order.
(d) Selection Criteria.--In considering projects for inclusion in
the report required by subsection (c)(2), the Secretary shall consider
the following criteria:
(1) Time savings for both goods and people.
(2) Volume of goods and number of users affected.
(3) Reduction in costs of goods movement.
(4) Relief the project provides to capacity
limitations of existing infrastructure.
(5) Benefits for multi-State facilities and
operations.
(6) Promotion of efficient multi-modal usage.
(7) Level of State, local, and regional financial
support for the project.
(8) Private sector funding opportunities.
(e) Funding Eligibility.--
(1) Project proposal funding.--Those projects included by
the Secretary in the report required by subsection (c)(2) shall
be eligible to receive project proposal funding under the RING
program.
(2) Design and engineering funding.--Those projects
included by the Secretary in the report required by subsection
(c)(4) shall be eligible to receive design and engineering
funding under the RING program.
(f) Reimbursement for Planning and Design.--Projects included by
the Secretary in the report required by subsection (c)(2) shall also be
eligible for reimbursement of funds for planning and design which have
been expended prior to the issuance of such report.
(g) Federal Share.--The Federal share of the eligible costs of a
project under the RING program shall not exceed 75 percent.
(h) Relationship to Other Laws.--All projects receiving assistance
under this section shall comply with other laws governing
transportation projects and programs, including the National
Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.).
(i) Authorization of Appropriations.--There are authorized to be
appropriated out of the Highway Trust Fund (other than the Mass Transit
Account) such sums as may be necessary to carry out this section.
Output:
Regional Investments for National Growth Act of 1997 - Directs the Secretary of Transportation to establish a regional investments for national growth program (RING program) in order to identify and fund large multi-State and regional transportation projects that are essential to global U.S. competitiveness. Makes eligible for funding under the RING program any regional transportation infrastructure investments that include participation by two or more States or public authorities representing two or more States, or that improve access to international commerce centers such as ports, commercial aviation facilities, and major rail terminals, and meet specified requirements. Authorizes appropriations.