House Bill 3651
117th Congress(2021-2022)
RAPID Act
Introduced
Introduced in House on Jun 1, 2021
Origin Chamber
House
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
3651
Congress
117
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 House 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 time line for public agency borrowers seeking secured loans; and (3) require DOT to publish status reports on program applications on the TIFIA website.
June 1, 2021
06/02/2021
Referred to the Subcommittee on Highways and Transit.
06/01/2021
Referred to the House Committee on Transportation and Infrastructure.
06/01/2021
Introduced in House
Public Record
Record Updated
Mar 9, 2023 5:47:48 PM