,i #aafth ,,congress #b;d ,session ,h4 ,r4 #eidg ,,in ,,the ,,house ,,of ,,representatives ,february #ba1 #bjbj,ms4 ,kuster of ,new ,hampshire 7for herself1 ,mr4 ,smucker1 and ,mr4 ,pappas7 introduced the following bill2 which was referred to the ,committee on ,transportation and ,infrastructure ,a ,,bill ,to amend the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf to provide for the ,secretary to pay certain credit risk premiums for loan or loan guarantees1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,invest in ,american ,railroads ,act4 #b4 ,payment of credit risk premiums for loans and loan guarantees ,section #ejb7;f77#d7 of the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf 7#de ,u4,s4,c4 #hbb7;f77#d77 is amended-- 7#a7 by striking ,credit risk premiums and inserting the following3 7,a7 ,timing of payment ,credit risk premiums 2 and 7#b7 by adding at the end the following3 7,b7 ,payment of credit risk premiums 7i7 ,in general ,in granting assistance under this section1 the ,secretary may pay credit risk premiums required under paragraph 7#c71 in whole or in part1 with respect to a loan or loan guarantee4 7ii7 ,set-aside ,of the amounts made available to carry out this paragraph1 at least #ajj1jjj1jjj shall be used for passenger rail projects for a fiscal year4 ,any amounts not obligated in a fiscal year shall be made available for any project receiving assistance under this section4 7iii7 ,authorization of appropriation ,there are authorized to be appropriated #cjj1jjj1jjj for each of fiscal years #bjba through #bjbf to carry out this subparagraph1 to remain available until expended4 4 #c4 ,increasing ,federal support for freight rail ,section #ejb7;a7 of the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf 7#de ,u4,s4,c4 #hbb7;a77 is amended-- 7#a7 in paragraph 7#e71 by striking and at the end2 7#b7 in paragraph 7#f71 by striking the period and inserting 2 and2 and 7#c7 by adding at the end the following3 7#g7 a private entity with controlling ownership in one or more freight railroads other than ,class ,i carriers4 4 #d4 ,expanding uses for ,,riff ,section #ejb7;b77#a7 of the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf 7#de ,u4,s4,c4 #hbb7;b77#a77 is amended-- 7#a7 by striking subparagraph 7,a7 and inserting the following3 7,a7 acquire1 improve1 or rehabilitate intermodal or rail equipment or facilities1 including track1 components of track1 civil works such as cuts and fills1 stations1 tunnels1 bridges1 yards1 buildings1 and shops1 and costs related to these activities1 including pre-construction costs2 2 and 7#b7 by striking subparagraph 7,d7 and inserting the following3 7,d7 reimburse planning1 permitting1 and design expenses relating to activities described in subparagraph 7,a7 or 7,c72 or 4 #e4 ,eligibility ,section #ejb7;f77#c7 of the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf 7#de ,u4,s4,c4 #hbb7;f77#c77 is amended-- 7#a7 by amending clause 7ii7 of subparagraph 7,b7 to read as follows3 7ii7 user fees1 including operating or tenant charges1 facility rents or other fees paid by transportation service providers or operators for access to or use of infrastructure including but not limited to rail lines1 bridges tunnels1 yards or stations2 or 2 and 7#b7 by adding at the end the following3 7,d7 ,a projection of freight or passenger demand for the project based on regionally developed economic forecasts1 including projections of any modal diversion resulting from the project4 4 #f4 ,collateral and appraisal standards ,section #ejb7;f7 of the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf 7#de ,u4,s4,c4 #hbb7;f77 is amended-- 7#a7 in paragraph 7#c71 by striking tangible asset and inserting collateral described in paragraph 7#e72 and 7#b7 by adding at the end the following3 7#e7 ,collateral 7,a7 ,types of collateral ,an applicant or infrastructure partner may propose tangible and intangible assets as collateral1 exclusive of goodwill4 ,the ,secretary shall evaluate each such asset and-- 7i7 shall accept a net liquidation value of collateral2 and 7ii7 shall consider and may accept-- 7,i7 the market value of collateral2 or 7,,ii7 in the case of a blanket pledge or assignment of an entire operating asset or basket of assets as collateral1 the net liquidation value1 the market value of assets1 or1 the market value of the going concern1 considering-- 7aa7 inclusion in the pledge of all the assets necessary for independent operational utility of the collateral1 including tangible assets such as real property1 track and structure1 equipment and rolling stock1 stations1 systems and maintenance facilities and intangible assets such as long-term shipping agreements1 easements1 leases and access rights such as for trackage and haulage2 7bb7 interchange commitments2 and 7cc7 the value of the asset as determined through the cost or market approaches1 or the market value of the going concern1 with the latter considering discounted cash flows for a period not to exceed the term of the direct loan or loan guarantee4 7,b7 ,appraisal standards ,in evaluation of appraisals of collateral under subparagraph 7,a71 the ,secretary shall consider-- 7i7 adherence to the substance and principles of the ,uniform ,standards of ,professional ,appraisal ,practice1 as developed by the ,appraisal ,standards ,board of the ,appraisal ,foundation2 7ii7 performance of the appraisal by licensed or certified appraisers as may be required by the ,state of jurisdiction for the type of asset being appraised2 and 7iii7 the qualifications of the appraisers to value the type of collateral offered4 4 #g4 ,repayment of ,,rrif loans ,section #ejb7;g77#a7 of the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf 7#de ,u4,s4,c4 #hbb7;g77#a77 is amended-- 7#a7 in subparagraph 7,a7 by striking #ce and inserting #ej2 and 7#b7 by amending subparagraph 7,b7 to read as follows3 7,b7 the estimated useful life of the rail equipment or facilities to be acquired1 rehabilitated1 improved1 developed1 or established1 including civil works such as cuts and fills1 bridges1 tunnels1 yards1 buildings and other long-lived assets4 4 #h4 ,leveraging existing ,federal infrastructure programs ,section #ejb of the ,railroad ,revitalization and ,regulatory ,reform ,act of #aigf 7#de ,u4,s4,c4 #hbb7 is amended by adding at the end the following3 7n7 ,non-,federal share ,the proceeds of a secured loan under this title1 if such loan is repayable from non-,federal funds1 shall not be considered ,federal funds4 ,such loan funds shall be accepted for payment of the non-,federal share of project costs under law1 including for any projects receiving funding under title #bc or #di of the ,united ,states ,code4 4