Latest Action
Read twice and referred to the Committee on Environment and Public Works.
3/24/2021 • Senate
Summary
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.
Introduced in Senate • 3/24/2021
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
Cosponsors (1)
Bill Journey
Originated in the Senate
Introduced
March 24, 2021
Read twice and referred to the Committee on Environment and Public Works.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law