This legislation seeks to alleviate the national housing crisis by expanding and streamlining federal financing for transit-oriented development (TOD) and attainable housing projects. It extends the authorization for the Transportation Infrastructure Finance and Innovation Act (TIFIA) program and the Railroad Rehabilitation and Improvement Financing (RRIF) program from fiscal years 2027 through 2031, focusing their resources on projects that integrate housing with transportation infrastructure. Key provisions include new definitions for "attainable housing projects," which serve households up to 120% of the area median income with a majority of units affordable to those at 80% AMI. The bill also introduces an "investment-creditworthiness assessment alternative," allowing projects to qualify for financing without a traditional investment-grade rating, thereby broadening access to capital for a wider range of developments. To accelerate project delivery, the bill establishes a delegated origination and underwriting program for TOD projects under both TIFIA and RRIF. This program, modeled after the Department of Housing and Urban Development's Multifamily Accelerated Processing system, allows qualified originator-servicers to handle loan origination, underwriting, and servicing, reducing administrative burdens and processing times for the Department of Transportation. Furthermore, the legislation offers significant financial incentives, including a reduced interest rate set at half the Treasury Rate for attainable housing projects under both TIFIA and RRIF. It also increases the maximum secured loan amount for certain TOD projects to 75% of eligible costs and mandates that at least 75% of TIFIA assistance for attainable housing projects be used for residential components. The bill also streamlines environmental review processes by exempting certain land acquisition activities for TOD projects from the National Environmental Policy Act (NEPA) prior to application. It also establishes categorical exclusions from NEPA for specific activities like the rehabilitation or conversion of existing office buildings to residential or mixed-use, and new commercial construction on disturbed land near transportation infrastructure, while ensuring coordination with metropolitan planning organizations and adherence to labor standards for assisted projects.