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     &lt;p&gt;&lt;strong&gt;Revitalizing American Priorities for Infrastructure Development Act or the RAPID Act&lt;/strong&gt;&lt;/p&gt; &lt;p&gt;This bill revises the transportation infrastructure finance and innovation (TIFIA) program to (1) require program applicants to obtain investment grade ratings from at least two credit rating agencies, unless the federal credit instrument is less than $150 million (currently, less than $75 million), in which case one rating will suffice; (2) require the Department of Transportation (DOT) to implement an expedited decision time line for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.&lt;/p&gt;
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Referred to the Subcommittee on Highways and Transit.
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2021-06-01
Transportation and Infrastructure Committee
hspw00
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Referred to the House Committee on Transportation and Infrastructure.
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2021-06-02T13:08:46Z
Referred to
Highways and Transit Subcommittee
hspw12
hspw00
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G000579
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Mike
Rep. Gallagher, Mike [R-WI-8]
Gallagher
R
2021-06-01
WI
T000474
35
Norma
Rep. Torres, Norma J. [D-CA-35]
Torres
J.
D
2021-06-22
CA
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-06-01
2021-06-02
Referred to the Subcommittee on Highways and Transit.
House
Transportation and Public Works
2022-08-04
Committee on Banking, Housing, and Urban Affairs. Hearings held.
CRS
Related bill
Infrastructure Investment and Jobs Act
HR
2021-05-27
Read twice and referred to the Committee on Environment and Public Works.
CRS
Related bill
Surface Transportation Reauthorization Act of 2021
S
2021-03-24
Read twice and referred to the Committee on Environment and Public Works.
CRS
Identical bill
RAPID Act
S
A000376
32
Colin
Rep. Allred, Colin Z. [D-TX-32]
N
Allred
Z.
D
TX
2021-06-01
Introduced in House
 <p><strong>Revitalizing American Priorities for Infrastructure Development Act or the RAPID Act</strong></p> <p>This bill revises the transportation infrastructure finance and innovation (TIFIA) program to (1) require program applicants to obtain investment grade ratings from at least two credit rating agencies, unless the federal credit instrument is less than $150 million (currently, less than $75 million), in which case one rating will suffice; (2) require the Department of Transportation (DOT) to implement an expedited decision time line for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.</p>
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2021-03-24
Read twice and referred to the Committee on Environment and Public Works.
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Identical bill
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2021-06-02
Highways and Transit Subcommittee
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2021-06-01
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Rep. Torres, Norma J. [D-CA-35]
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2021-06-22
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2021-06-01
Introduced in House
 <p><strong>Revitalizing American Priorities for Infrastructure Development Act or the RAPID Act</strong></p> <p>This bill revises the transportation infrastructure finance and innovation (TIFIA) program to (1) require program applicants to obtain investment grade ratings from at least two credit rating agencies, unless the federal credit instrument is less than $150 million (currently, less than $75 million), in which case one rating will suffice; (2) require the Department of Transportation (DOT) to implement an expedited decision time line for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.</p>
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2021-06-02
Referred to the Subcommittee on Highways and Transit.