High Speed Rail Corridor Development Act of 2021
This bill revises and reauthorizes through FY2025 the high-speed rail corridor development competitive grant program of the Department of Transportation (DOT).
In awarding grants, the bill requires DOT to prioritize (1) projects that involve the purchase of electrified next generation passenger rail equipment, and (2) applications for projects that provide for a greater non-federal share of the cost of such projects.
DOT must also for each fiscal year set aside 50% of funds for projects with a federal share that does not exceed 50% of the project net capital cost.
To reauthorize the high-speed rail corridor development program, 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 ``High Speed Rail Corridor Development 
Act of 2021''.

SEC. 2. HIGH-SPEED RAIL CORRIDOR DEVELOPMENT.

    (a) Competitive Grant Selection and Criteria for Grants.--Section 
26106(e) of title 49, United States Code, is amended--
            (1) by striking paragraph (2)(C)(i)(IV) and inserting the 
        following:
                                    ``(IV) environmental benefits, 
                                including projects that involve the 
                                purchase of environmentally sensitive, 
                                fuel-efficient or electrified next 
                                generation, and cost-effective 
                                passenger rail equipment;''; and
            (2) by adding at the end the following:
            ``(5) Priority.--In awarding grants under the program, the 
        Secretary shall give priority to an application that provides 
        for a greater non-Federal share of the cost of a project 
        relative to other applications.''.
    (b) Set-Aside for Projects With Certain Non-Federal Share.--Section 
26106(f) of title 49, United States Code, is amended--
            (1) by striking ``The Federal share'' and inserting the 
        following:
            ``(1) In general.--The Federal share''; and
            (2) by adding at the end the following:
            ``(2) Set-aside.--In carrying out this section, the 
        Secretary shall set aside for each fiscal year 50 percent of 
        the funds made available to carry out this section for projects 
        with a Federal share that does not exceed 50 percent of the 
        project net capital cost.''.
    (c) Authorization of Appropriations.--Section 26106(h) of title 49, 
United States Code, is amended to read as follows:
    ``(h) Authorization of Appropriations.--There are authorized to be 
appropriated to the Secretary to carry out this section--
            ``(1) $8,000,000,000 for fiscal year 2022;
            ``(2) $8,000,000,000 for fiscal year 2023;
            ``(3) $8,000,000,000 for fiscal year 2024; and
            ``(4) $8,000,000,000 for fiscal year 2025.''.
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High Speed Rail Corridor Development Act of 2021
To reauthorize the high-speed rail corridor development program, and for other purposes.
High Speed Rail Corridor Development Act of 2021
Rep. Costa, Jim