Railroad Rehabilitation and Improvement Financing Equity Act

Railroad Rehabilitation and Improvement Financing Equity Act

This bill directs the Department of Transportation to refund credit risk premiums under the Railroad Rehabilitation and Improvement Financing loan program upon the satisfaction of a loan's obligations.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3318 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 3318

  To require the Secretary of Transportation to repay the credit risk 
  premiums paid with respect to certain railroad infrastructure loans 
   after the obligations attached to such loans have been satisfied.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 18, 2021

   Mr. Perlmutter (for himself, Mr. Crow, Mr. Buck, and Ms. DeGette) 
 introduced the following bill; which was referred to the Committee on 
                   Transportation and Infrastructure

_______________________________________________________________________

                                 A BILL


 
  To require the Secretary of Transportation to repay the credit risk 
  premiums paid with respect to certain railroad infrastructure loans 
   after the obligations attached to such loans have been satisfied.

    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 ``Railroad Rehabilitation and 
Improvement Financing Equity Act''.

SEC. 2. CREDIT RISK PREMIUMS.

    Section 502(f) of the Railroad Revitalization and Regulatory Reform 
Act of 1976 (45 U.S.C. 822(f)) is amended by adding at the end the 
following:
            ``(5) Refund of premiums.--The Secretary shall repay the 
        credit risk premium of each loan in cohort 3, as defined by the 
        Department of Transportation's memorandum to the Office of 
        Management and Budget dated November 5, 2018, with interest 
        accrued thereon, not later than 60 days after the date on which 
        all obligations attached to each such loan have been satisfied. 
        For each such loan for which obligations have already been 
        satisfied, as of the date of enactment of the Railroad 
        Rehabilitation and Improvement Financing Equity Act, the 
        Secretary shall repay the credit risk premium of each such 
        loan, with interest accrued thereon, not later than 60 days 
        after the date of the enactment of such Act.''.
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