[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6464 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6464

To make certain amendments to the loan and loan guarantee program under 
section 502 of the Railroad Revitalization and Regulatory Reform Act of 
                                 1976.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 10, 2008

   Mr. Braley of Iowa (for himself and Mr. Loebsack) introduced the 
 following bill; which was referred to the Committee on Transportation 
                           and Infrastructure

_______________________________________________________________________

                                 A BILL


 
To make certain amendments to the loan and loan guarantee program under 
section 502 of the Railroad Revitalization and Regulatory Reform Act of 
                                 1976.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Back on Track Act''.

SEC. 2. AMENDMENTS.

    Section 502 of the Railroad Revitalization and Regulatory Reform 
Act of 1976 (45 U.S.C. 822) is amended--
            (1) in subsection (e), by adding at the end the following 
        new paragraph:
            ``(3) Bridge construction or repair.--For direct loans and 
        loan guarantees for construction or repair of a railroad bridge 
        in an area with respect to which a major disaster has been 
        declared by the President under section 401 of the Robert T. 
        Stafford Disaster Relief and Emergency Assistance Act by reason 
        of flooding or flood-related incidents beginning in 2008--
                    ``(A) the interest rate shall be set at 1 percent; 
                and
                    ``(B) the credit risk premium required by 
                subsection (f)(2) shall not exceed 2 percent of total 
                loan or loan guarantee amount.''; and
            (2) in subsection (g)(1), by striking ``25 years'' and 
        inserting ``35 years''.
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