Intercity Passenger Rail Trust Fund Act
This bill establishes in the Treasury an Intercity Passenger Rail Trust Fund designed to ensure a safe, sustainable, convenient transportation option for the people of the United States. Amounts in the fund may be used by the Department of Transportation to award grants to the National Railroad Passenger Corporation (Amtrak) for activities associated with the Northeast Corridor and the National Network (Amtrak's state-supported and long-distance service lines).
To establish the Intercity Passenger Rail Trust Fund to ensure a safe, 
  sustainable, convenient transportation option for the people of the 
                 United States, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Intercity Passenger Rail Trust Fund 
Act''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) An effective transportation system for the Nation 
        requires dedicated, predictable Federal funding for various 
        capital and operating expenses, as demonstrated by the Highway 
        Trust Fund, which supports all Federal highway programs, most 
        public transit programs, and many Federal transportation safety 
        programs.
            (2) Intercity passenger rail is the only surface 
        transportation mode in the United States that--
                    (A) does not receive any Federal funding through a 
                trust fund for capital investment; and
                    (B) is completely dependent on annual discretionary 
                appropriations for both its capital expenses and its 
                operating costs.
            (3) In fiscal year 2019, Amtrak experienced record 
        ridership, a historic low operating loss, and a record capital 
        spend rate.
            (4) In markets with sufficient infrastructure and train 
        frequency, Amtrak has proven to be an effective mode of 
        transportation compared to commercial air and bus service and 
        private automobile use.
            (5) Intercity passenger rail offers substantial safety, 
        energy, and environmental advantages compared to most other 
        transportation modes, but decades of in sufficient capital 
        funding has drastically limited the role that intercity 
        passenger rail can play in the Nation's overall transportation 
        network.
            (6) There are critical capital needs for the Northeast 
        Corridor and the National Network, including infrastructure, 
        fleet, stations, and facilities.
            (7) Adding to the urgency of these capital investment 
        needs, due to changing demographics, population growth, 
        urbanization, and changing travel trends, intercity passenger 
        rail will be needed to help move our Nation into the future.
            (8) For these reasons, an Intercity Passenger Rail Trust 
        Fund is needed now, more than ever, to ensure a safe, 
        sustainable, convenient transportation option for the people of 
        the United States.

SEC. 3. INTERCITY PASSENGER RAIL TRUST FUND.

    (a) In General.--Subchapter A of chapter 98 of the Internal Revenue 
Code of 1986 is amended by adding at the end the following:

``SEC. 9512. INTERCITY PASSENGER RAIL TRUST FUND.

    ``(a) Establishment.--There is established in the Treasury of the 
United States a trust fund, which shall be known as the `Intercity 
Passenger Rail Trust Fund', consisting of such amounts as may be 
appropriated or credited to the Intercity Passenger Railroad Trust Fund 
as provided in this section and section 9602(b).
    ``(b) Transfer to Intercity Passenger Rail Trust Fund.--
            ``(1) In general.--There is hereby appropriated to the 
        Intercity Passenger Rail Trust Fund for fiscal year 2022, and 
        for each fiscal year thereafter, an amount equal to 50 percent 
        of the average annual amounts appropriated to the Highway Trust 
        Fund under section 9503 for fiscal years 2008 through 2020.
            ``(2) Authorization of appropriation of additional sums.--
        There are hereby authorized to be appropriated to the Intercity 
        Passenger Rail Trust Fund such additional sums as may be 
        required to make the expenditures referred to in subsection 
        (c).
    ``(c) Expenditures From the Intercity Passenger Rail Trust Fund.--
Amounts in the Intercity Passenger Rail Trust Fund shall be available 
for obligation without further appropriations action for making 
expenditures to carry out section 24314 of title 49.''.
    (b) Clerical Amendment.--The table of sections for subchapter A of 
chapter 98 of such Code is amended by adding at the end the following 
new item:

``Sec. 9512. Intercity Passenger Rail Trust Fund.''.

SEC. 4. INTERCITY PASSENGER RAIL TRUST FUND EXPENDITURES.

    (a) In General.--Chapter 243 of title 49, United States Code, is 
amended by inserting after section 24313 the following:
``Sec. 24314. Intercity Passenger Rail Trust Fund expenditures
    ``(a) Expenditures From the Intercity Passenger Rail Trust Fund.--
Amounts deposited into the Intercity Passenger Rail Trust Fund each 
fiscal year pursuant to section 9512(b) of the Internal Revenue Code of 
1986 shall be available for obligation, without further appropriation, 
in accordance with the ratios set forth in subsection (b). Amounts made 
available under this section shall remain available until expended.
    ``(b) Intercity Passenger Rail Trust Fund Expenditure Ratios.--The 
Secretary may use amounts deposited into the Intercity Passenger Rail 
Trust Fund each fiscal year to award grants to Amtrak, in accordance 
with the process described in section 24319. Of the grant funds awarded 
pursuant to this subsection--
            ``(1) 40 percent shall be used for activities associated 
        with the Northeast Corridor; and
            ``(2) 60 percent shall be used for activities associated 
        with the National Network.
    ``(c) Savings Provision.--Nothing in this section may be construed 
as prohibiting discretionary funding from being provided to Amtrak.''.
    (b) Conforming Amendment.--The analysis for chapter 243 of title 
49, United States Code, is amended by inserting after the item relating 
to section 24313 the following:

``24314. Intercity Passenger Rail Trust Fund expenditures.''.
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Intercity Passenger Rail Trust Fund Act
A bill to establish the Intercity Passenger Rail Trust Fund to ensure a safe, sustainable, convenient transportation option for the people of the United States, and for other purposes.
Intercity Passenger Rail Trust Fund Act
Sen. Blumenthal, Richard