[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2213 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2213

  To require the Secretary of Transportation to repay the credit risk 
  premiums paid with respect to certain railroad infrastructure loans 
   after the obligations attached to such loans have been satisfied.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 23, 2019

Mr. Gardner (for himself and Mr. Bennet) introduced the following bill; 
    which was read twice and referred to the Committee on Commerce, 
                      Science, and Transportation

_______________________________________________________________________

                                 A BILL


 
  To require the Secretary of Transportation to repay the credit risk 
  premiums paid with respect to certain railroad infrastructure loans 
   after the obligations attached to such loans have been satisfied.

    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 ``Railroad Rehabilitation and 
Improvement Financing Equity Act''.

SEC. 2. CREDIT RISK PREMIUMS.

    (a) Refund.--Section 502(f) of the Railroad Revitalization and 
Regulatory Reform Act of 1976 (45 U.S.C. 822(f)) is amended by adding 
at the end the following:
            ``(5) Refund of premiums.--The Secretary shall repay the 
        credit risk premium of each loan, with interest accrued 
        thereon, not later than 60 days after the date on which all 
        obligations attached to each such loan have been satisfied. For 
        each loan for which obligations have already been satisfied, as 
        of the date of enactment of the Railroad Rehabilitation and 
        Improvement Financing Equity Act, the Secretary shall repay the 
        credit risk premium of each such loan, with interest accrued 
        thereon, not later than 60 days after the date of the enactment 
        of such Act.''.
    (b) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary to pay the cost of any 
direct loan modification (as defined in section 502 of the Federal 
Credit Reform Act of 1990) to carry out section 502(f)(5) of the 
Railroad Revitalization and Regulatory Reform Act of 1976, as added by 
subsection (a).
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