RAPID Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Mar 24, 2021)
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.
What just happenedMar 24, 2021
Read twice and referred to the Committee on Environment and Public Works.
Who’s behind it
- Introduced in SenateMar 24, 2021
- Mar 24, 2021IntroReferral
Read twice and referred to the Committee on Environment and Public Works.
Environment and Public Works Committee - Mar 24, 2021IntroReferral10000
Introduced in Senate