American High-Speed Rail Act

The American High-Speed Rail Act authorizes $35 billion annually for high-speed rail corridor development (with $3 billion for corridor planning), requiring at least 20% of project costs to come from non-Federal sources. It defines "high-speed rail" as services reaching 186+ mph and "higher-speed rail" as 110-186 mph, with no more than 20% of funds allocated to higher-speed rail projects. Key provisions include allowing advance acquisition of rail corridors before environmental reviews, creating tax exclusions for rail carriers selling property to high-speed rail projects, and requiring consideration of equity, sustainability, and economic development impacts in planning. The bill affects federal agencies, state and local governments, rail carriers, and communities along proposed rail corridors.