RAPID Act
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2021
Committee Review
Floor Vote
President
Introduced Mar 24, 2021
Last action Mar 24, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Mar 24, 2021
Committee
Read twice and referred to the Committee on Environment and Public Works.
upper
Mar 24, 2021
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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