Transportation and Infrastructure Committee, Highways and Transit Subcommittee
Introduced
In Committee
On Floor
Passed Chamber
Enacted
Equitable Transit Oriented Development Support Act This bill revises the transportation finance infrastructure and innovation (TIFIA) program to make community development financial institutions (CDFIs) eligible for federal transportation infrastructure loans. The loans must be used for CDFI transit-oriented development projects located within one-half mile in an urban area or three-fourths of a mile in a rural area of a fixed guideway transit facility, passenger rail station, intercity bus station or intermodal facility that supports (1) commercial facilities or businesses that are located in low-income communities, (2) community facilities that are located in low-income communities or principally serve low-income persons, or (3) housing that is principally affordable to low-income persons. The Department of Transportation (DOT) must require any CDFI participating in the TIFIA program to establish a CDFI transit-oriented development account into which the proceeds of a secured loan made to the CDFI and any loan repayments from public or private entities receiving loans made to fund CDFI transit-oriented development projects will be deposited. DOT must set-aside not more than 10% of funding available to carry out the TIFIA program for CDFI transit-oriented development accounts.
Equitable Transit Oriented Development Support Act
Introduced in House
Referred to the House Committee on Transportation and Infrastructure.
Referred to the Subcommittee on Highways and Transit.
Transportation and Public Works
Community Development Financial Institutions FundEconomic developmentGovernment lending and loan guaranteesInfrastructure developmentPublic transitRural conditions and developmentTransportation programs fundingUrban and suburban affairs and development
Equitable Transit Oriented Development Support Act
USA117th CongressHR-2206| House
| Updated: 3/29/2021
Equitable Transit Oriented Development Support Act This bill revises the transportation finance infrastructure and innovation (TIFIA) program to make community development financial institutions (CDFIs) eligible for federal transportation infrastructure loans. The loans must be used for CDFI transit-oriented development projects located within one-half mile in an urban area or three-fourths of a mile in a rural area of a fixed guideway transit facility, passenger rail station, intercity bus station or intermodal facility that supports (1) commercial facilities or businesses that are located in low-income communities, (2) community facilities that are located in low-income communities or principally serve low-income persons, or (3) housing that is principally affordable to low-income persons. The Department of Transportation (DOT) must require any CDFI participating in the TIFIA program to establish a CDFI transit-oriented development account into which the proceeds of a secured loan made to the CDFI and any loan repayments from public or private entities receiving loans made to fund CDFI transit-oriented development projects will be deposited. DOT must set-aside not more than 10% of funding available to carry out the TIFIA program for CDFI transit-oriented development accounts.
Transportation and Infrastructure Committee, Highways and Transit Subcommittee
Transportation and Public Works
Introduced
In Committee
On Floor
Passed Chamber
Enacted
Community Development Financial Institutions FundEconomic developmentGovernment lending and loan guaranteesInfrastructure developmentPublic transitRural conditions and developmentTransportation programs fundingUrban and suburban affairs and development