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II
116TH CONGRESS
1ST SESSION
S. 2213
To require the Secretary of Transportation to repay the credit risk premiums
paid with respect to certain railroad infrastructure loans after the obliga-
tions attached to such loans have been satisfied.
IN THE SENATE OF THE UNITED STATES
JULY 23, 2019
Mr. GARDNER (for himself and Mr. BENNET) introduced the following bill;
which was read twice and referred to the Committee on Commerce,
Science, and Transportation
A BILL
To require the Secretary of Transportation to repay the
credit risk premiums paid with respect to certain railroad
infrastructure loans after the obligations attached to
such loans have been satisfied.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Railroad Rehabilitation
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and Improvement Financing Equity Act’’.
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•S 2213 IS
SEC. 2. CREDIT RISK PREMIUMS.
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(a) REFUND.—Section 502(f) of the Railroad Revi-
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talization and Regulatory Reform Act of 1976 (45 U.S.C.
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822(f)) is amended by adding at the end the following:
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‘‘(5) REFUND
OF
PREMIUMS.—The Secretary
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shall repay the credit risk premium of each loan,
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with interest accrued thereon, not later than 60 days
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after the date on which all obligations attached to
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each such loan have been satisfied. For each loan for
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which obligations have already been satisfied, as of
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the date of enactment of the Railroad Rehabilitation
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and Improvement Financing Equity Act, the Sec-
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retary shall repay the credit risk premium of each
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such loan, with interest accrued thereon, not later
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than 60 days after the date of the enactment of such
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Act.’’.
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(b) AUTHORIZATION
OF APPROPRIATIONS.—There
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are authorized to be appropriated such sums as may be
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necessary to pay the cost of any direct loan modification
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(as defined in section 502 of the Federal Credit Reform
20
Act of 1990) to carry out section 502(f)(5) of the Railroad
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Revitalization and Regulatory Reform Act of 1976, as
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added by subsection (a).
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