Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
I
116TH CONGRESS
1ST SESSION H. R. 1849
To modify the treatment of certain loans in consideration for fixed guideway
capital investment grants, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MARCH 21, 2019
Mr. MALINOWSKI (for himself, Mr. SIRES, Mrs. WATSON COLEMAN, Mr.
SMITH of New Jersey, Mr. PALLONE, Mr. PASCRELL, Mr. PAYNE, Mr.
NORCROSS, Mr. VAN DREW, Mr. KIM, Mr. GOTTHEIMER, and Ms.
SHERRILL) introduced the following bill; which was referred to the Com-
mittee 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.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Transportation Fund-
4
ing Fairness Act’’.
5
VerDate Sep 11 2014
05:24 Apr 02, 2019
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H1849.IH
H1849
kjohnson on DSK79L0C42 with BILLS
2
•HR 1849 IH
SEC. 2. TREATMENT OF CERTAIN LOANS IN CONSIDER-
1
ATION FOR FIXED GUIDEWAY CAPITAL IN-
2
VESTMENT GRANTS.
3
(a) IN GENERAL.—Section 603(b)(8) of title 23,
4
United States Code, is amended to read as follows:
5
‘‘(8) NON-FEDERAL SHARE.—
6
‘‘(A) IN GENERAL.—A State or other eligi-
7
ble sponsor may elect to have proceeds of a cov-
8
ered loan treated as any non-Federal share of
9
project costs required under this title or chapter
10
53 of title 49, if the loan is repayable from non-
11
Federal funds.
12
‘‘(B) COVERED
LOAN.—In this subpara-
13
graph, the term ‘covered loan’ means—
14
‘‘(i) a secured loan under the TIFIA
15
program; and
16
‘‘(ii) a loan issued pursuant to the
17
railroad rehabilitation and improvement fi-
18
nancing program authorized under sections
19
501 through 503 of the Railroad Revital-
20
ization and Regulatory Reform Act of
21
1976 (45 U.S.C. 821–823).’’.
22
(b) SPECIAL RULE FOR FIXED GUIDEWAY CAPITAL
23
INVESTMENT
GRANTS.—Section 5309(f) of title 49,
24
United States Code, is amended by adding at the end the
25
following:
26
VerDate Sep 11 2014
05:24 Apr 02, 2019
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H1849.IH
H1849
kjohnson on DSK79L0C42 with BILLS
3
•HR 1849 IH
‘‘(3) SPECIAL RULE FOR PROCEEDS OF A COV-
1
ERED LOAN.—
2
‘‘(A) IN GENERAL.—In making the deter-
3
mination and assessment pursuant to para-
4
graphs (1) and (2), the Secretary—
5
‘‘(i) shall treat proceeds of a covered
6
loan that a State has elected to treat as a
7
non-Federal share of project costs pursu-
8
ant to section 603(b)(8) of title 23, United
9
States Code, as a local financial commit-
10
ment; and
11
‘‘(ii) may not treat any such proceeds
12
as non-local sources of capital and oper-
13
ating financing.
14
‘‘(B) COVERED LOAN.—In this subsection,
15
the term ‘covered loan’ means—
16
‘‘(i) a secured loan under the TIFIA
17
program (as such term is defined in sec-
18
tion 601 of title 23, United States Code);
19
and
20
‘‘(ii) a loan issued pursuant to the
21
railroad rehabilitation and improvement fi-
22
nancing program authorized under sections
23
501 through 503 of the Railroad Revital-
24
VerDate Sep 11 2014
05:24 Apr 02, 2019
Jkt 089200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H1849.IH
H1849
kjohnson on DSK79L0C42 with BILLS
4
•HR 1849 IH
ization and Regulatory Reform Act of
1
1976 (45 U.S.C. 821–823).’’.
2
Æ
VerDate Sep 11 2014
05:24 Apr 02, 2019
Jkt 089200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6301
E:\BILLS\H1849.IH
H1849
kjohnson on DSK79L0C42 with BILLS