Railroad Rehabilitation and Improvement Financing Equity Act

I 116TH CONGRESS 2D SESSION H. R. 6452 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 HOUSE OF REPRESENTATIVES APRIL 3, 2020 Mr. PERLMUTTER (for himself, Mr. BUCK, Mr. CROW, Ms. DEGETTE, and Mr. NEGUSE) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure 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- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Railroad Rehabilitation 4 and Improvement Financing Equity Act’’. 5 VerDate Sep 11 2014 21:40 Apr 14, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H6452.IH H6452 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 6452 IH SEC. 2. CREDIT RISK PREMIUMS. 1 Section 502(f) of the Railroad Revitalization and 2 Regulatory Reform Act of 1976 (45 U.S.C. 822(f)) is 3 amended by adding at the end the following: 4 ‘‘(5) REFUND OF PREMIUMS.—The Secretary 5 shall repay the credit risk premium of each loan in 6 cohort 3, as defined by the Department of Transpor- 7 tation’s memorandum to the Office of Management 8 and Budget dated November 5, 2018, with interest 9 accrued thereon, not later than 60 days after the 10 date on which all obligations attached to each such 11 loan have been satisfied. For each such loan for 12 which obligations have already been satisfied, as of 13 the date of enactment of the Railroad Rehabilitation 14 and Improvement Financing Equity Act, the Sec- 15 retary shall repay the credit risk premium of each 16 such loan, with interest accrued thereon, not later 17 than 60 days after the date of the enactment of such 18 Act.’’. 19 Æ VerDate Sep 11 2014 21:40 Apr 14, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H6452.IH H6452 pbinns on DSKJLVW7X2PROD with BILLS