Senate Bill 353
116th Congress(2019-2020)
RAPID Act
Introduced
Introduced in Senate on Feb 6, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
353
Congress
116
Policy Area
Transportation and Public Works
Transportation and Public Works
Primary focus of measure is all aspects of transportation modes and conveyances, including funding and safety matters; Coast Guard; infrastructure development; travel and tourism. Measures concerning water resources and navigation projects may fall under Water Resources Development policy area.
No Senate votes have been held for this bill.
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 timeline for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.
February 6, 2019
Sort by most recent
02/06/2019
Read twice and referred to the Committee on Environment and Public Works.
02/06/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 3:32:52 PM