This bill modifies federal transportation financing programs to make it easier for residential and mixed-use development projects to qualify for loans through the TIFIA (Transportation Infrastructure Finance and Innovation Act) program and the RRIF (Railroad Rehabilitation & Improvement Financing) program. Currently, these programs require projects to meet strict creditworthiness standards, typically needing investment-grade ratings from credit agencies—a requirement that has limited access for affordable housing projects. The bill directs the Transportation and Housing and Urban Development Secretaries to establish tailored creditworthiness standards for residential and mixed-use projects that balance program financial stability with alignment to HUD's existing housing finance requirements. The bill requires the agencies to issue regulations within 180 days of enactment and the new standards will take effect 180 days after that, applying to all new loans and lines of credit issued under these programs going forward. No specific funding amount is allocated in the bill; it restructures existing lending programs to expand their accessibility to housing developers.
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