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RAPID Act
3/8/2023, 8:12 PM
Congressional Summary of S 941
Revitalizing American Priorities for Infrastructure Development Act or the RAPID Act
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.
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Current Status of Bill S 941
Bill S 941 is currently in the status of Bill Introduced since March 24, 2021. Bill S 941 was introduced during Congress 117 and was introduced to the Senate on March 24, 2021. Bill S 941's most recent activity was Read twice and referred to the Committee on Environment and Public Works. as of March 24, 2021
Bipartisan Support of Bill S 941
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 941
Primary Policy Focus
Transportation and Public WorksPotential Impact Areas
- Government information and archives
- Government lending and loan guarantees
- Public transit
- Roads and highways
- Transportation programs funding
Alternate Title(s) of Bill S 941
RAPID Act
A bill to amend title 23, United States Code, to improve the transportation infrastructure finance and innovation (TIFIA) program, and for other purposes.
RAPID Act
Revitalizing American Priorities for Infrastructure Development Act
Comments
Sponsors and Cosponsors of S 941
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