,i #aaf? ,,congress #b;d ,session ,h4 ,r4 #eidg ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,febru>y #ba1 #bjbj,ms4 ,ku/] ( ,new ,hamp%ire 7= h]self1 ,mr4 ,smuck]1 & ,mr4 ,pappas7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,transportation & ,infra/ructure ,a ,,bill ,to am5d ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf to provide = ! ,secret>y to pay c]ta9 cr$it risk premiums = loan or loan gu>antees1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,inve/ 9 ,am]ican ,railroads ,act4 #b4 ,paym5t ( cr$it risk premiums = loans & loan gu>antees ,section #ejb7;f77#d7 ( ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf 7#de ,u4,s4,c4 #hbb7;f77#d77 is am5d$-- 7#a7 by /rik+ ,cr$it risk premiums & ins]t+ ! foll[+3 7,a7 ,tim+ ( paym5t ,cr$it risk premiums 2 & 7#b7 by add+ at ! end ! foll[+3 7,b7 ,paym5t ( cr$it risk premiums 7i7 ,9 g5]al ,9 grant+ assi/ance "u ?is section1 ! ,secret>y may pay cr$it risk premiums requir$ "u p>agraph 7#c71 9 :ole or 9 "p1 ) respect to a loan or loan gu>antee4 7ii7 ,set-aside ,( ! am\nts made available to c>ry out ?is p>agraph1 at lea/ #ajj1jjj1jjj %all be us$ = pass5g] rail projects = a fiscal ye>4 ,any am\nts n obligat$ 9 a fiscal ye> %all be made available = any project receiv+ assi/ance "u ?is section4 7iii7 ,au?orization ( appropriation ,!re are au?oriz$ to be appropriat$ #cjj1jjj1jjj = ea* ( fiscal ye>s #bjba ?r\gh #bjbf to c>ry out ?is subp>agraph1 to rema9 available until exp5d$4 4 #c4 ,increas+ ,f$]al support = freight rail ,section #ejb7;a7 ( ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf 7#de ,u4,s4,c4 #hbb7;a77 is am5d$-- 7#a7 9 p>agraph 7#e71 by /rik+ & at ! end2 7#b7 9 p>agraph 7#f71 by /rik+ ! p]iod & ins]t+ 2 &2 & 7#c7 by add+ at ! end ! foll[+3 7#g7 a private entity ) controll+ own]%ip 9 "o or m freight railroads o!r ?an ,class ,i c>ri]s4 4 #d4 ,exp&+ uses = ,,riff ,section #ejb7;b77#a7 ( ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf 7#de ,u4,s4,c4 #hbb7;b77#a77 is am5d$-- 7#a7 by /rik+ subp>agraph 7,a7 & ins]t+ ! foll[+3 7,a7 acquire1 improve1 or rehabilitate int]modal or rail equipm5t or facilities1 includ+ track1 compon5ts ( track1 civil works su* z cuts & fills1 /ations1 tunnels1 bridges1 y>ds1 build+s1 & %ops1 & co/s relat$ to ^! activities1 includ+ pre-con/ruction co/s2 2 & 7#b7 by /rik+ subp>agraph 7,d7 & ins]t+ ! foll[+3 7,d7 reimburse plann+1 p]mitt+1 & design exp5ses relat+ to activities describ$ 9 subp>agraph 7,a7 or 7,c72 or 4 #e4 ,eligibility ,section #ejb7;f77#c7 ( ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf 7#de ,u4,s4,c4 #hbb7;f77#c77 is am5d$-- 7#a7 by am5d+ clause 7ii7 ( subp>agraph 7,b7 to read z foll[s3 7ii7 us] fees1 includ+ op]at+ or t5ant *>ges1 facility r5ts or o!r fees paid by transportation s]vice provid]s or op]ators = access to or use ( infra/ructure includ+ b n limit$ to rail l9es1 bridges tunnels1 y>ds or /ations2 or 2 & 7#b7 by add+ at ! end ! foll[+3 7,d7 ,a projection ( freight or pass5g] dem& = ! project bas$ on regionally develop$ economic =eca/s1 includ+ projections ( any modal div]sion result+ f ! project4 4 #f4 ,collat]al & appraisal /&>ds ,section #ejb7;f7 ( ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf 7#de ,u4,s4,c4 #hbb7;f77 is am5d$-- 7#a7 9 p>agraph 7#c71 by /rik+ tangible asset & ins]t+ collat]al describ$ 9 p>agraph 7#e72 & 7#b7 by add+ at ! end ! foll[+3 7#e7 ,collat]al 7,a7 ,types ( collat]al ,an applicant or infra/ructure p>tn] may propose tangible & intangible assets z collat]al1 exclusive ( goodwill4 ,! ,secret>y %all evaluate ea* su* asset &-- 7i7 %all accept a net liquidation value ( collat]al2 & 7ii7 %all consid] & may accept-- 7,i7 ! m>ket value ( collat]al2 or 7,,ii7 9 ! case ( a blanket pl$ge or assignm5t ( an entire op]at+ asset or basket ( assets z collat]al1 ! net liquidation value1 ! m>ket value ( assets1 or1 ! m>ket value ( ! go+ conc]n1 consid]+-- 7aa7 inclusion 9 ! pl$ge ( all ! assets necess>y = indep5d5t op]ational utility ( ! collat]al1 includ+ tangible assets su* z real prop]ty1 track & /ructure1 equipm5t & roll+ /ock1 /ations1 sy/ems & ma9t5ance facilities & intangible assets su* z long-t]m %ipp+ agreem5ts1 easem5ts1 leases & access rights su* z = trackage & haulage2 7bb7 int]*ange commitm5ts2 & 7cc7 ! value ( ! asset z det]m9$ ?r\gh ! co/ or m>ket approa*es1 or ! m>ket value ( ! go+ conc]n1 ) ! latt] consid]+ disc\nt$ ca% fl[s = a p]iod n to exce$ ! t]m ( ! direct loan or loan gu>antee4 7,b7 ,appraisal /&>ds ,9 evaluation ( appraisals ( collat]al "u subp>agraph 7,a71 ! ,secret>y %all consid]-- 7i7 adh]5ce to ! sub/ance & pr9ciples ( ! ,uni=m ,/&>ds ( ,pr(essional ,appraisal ,practice1 z develop$ by ! ,appraisal ,/&>ds ,bo>d ( ! ,appraisal ,f\ndation2 7ii7 p]=mance ( ! appraisal by lic5s$ or c]tifi$ apprais]s z may be requir$ by ! ,/ate ( jurisdiction = ! type ( asset be+ apprais$2 & 7iii7 ! qualifications ( ! apprais]s to value ! type ( collat]al (f]$4 4 #g4 ,repaym5t ( ,,rrif loans ,section #ejb7;g77#a7 ( ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf 7#de ,u4,s4,c4 #hbb7;g77#a77 is am5d$-- 7#a7 9 subp>agraph 7,a7 by /rik+ #ce & ins]t+ #ej2 & 7#b7 by am5d+ subp>agraph 7,b7 to read z foll[s3 7,b7 ! e/imat$ useful life ( ! rail equipm5t or facilities to be acquir$1 rehabilitat$1 improv$1 develop$1 or e/abli%$1 includ+ civil works su* z cuts & fills1 bridges1 tunnels1 y>ds1 build+s & o!r long-liv$ assets4 4 #h4 ,lev]ag+ exi/+ ,f$]al infra/ructure programs ,section #ejb ( ! ,railroad ,revitalization & ,regulatory ,re=m ,act ( #aigf 7#de ,u4,s4,c4 #hbb7 is am5d$ by add+ at ! end ! foll[+3 7n7 ,non-,f$]al %>e ,! proce$s ( a secur$ loan "u ?is title1 if su* loan is repayable f non-,f$]al funds1 %all n be consid]$ ,f$]al funds4 ,su* loan funds %all be accept$ = paym5t ( ! non-,f$]al %>e ( project co/s "u law1 includ+ = any projects receiv+ fund+ "u title #bc or #di ( ! ,unit$ ,/ates ,code4 4