The CHARGE Investments Act amends federal law to broaden the scope of projects eligible for direct loans and loan guarantees under the railroad rehabilitation and improvement program. It specifically enables funding for economic development , including commercial and residential projects, and related infrastructure that is either physically connected to or within a quarter-mile of a fixed guideway transit station. These eligible projects must be located at least two miles from a downtown core not served by intercity passenger rail and require a private investment exceeding 20 percent of total costs. Additionally, the bill introduces an extended eligibility radius for projects near intercity passenger rail stations not situated within a downtown core, allowing the nearest downtown core within a two-mile radius to be included if public transportation connects the station and the project location.