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H.R. 3318House117th Congress (2021-2023)In Committee

Railroad Rehabilitation and Improvement Financing Equity Act

Sponsored by Ed PerlmutterRep. Ed Perlmutter (D-CO)
Introduced May 18, 2021

AI-Generated Summary

Updated February 8, 2026 at 3:11 AM UTC

The bill requires the U.S. Secretary of Transportation to return the credit‑risk premiums that were paid for certain railroad infrastructure loans once the loan obligations are fully met. It applies to loans classified in “cohort 3” under a 2018 Department of Transportation memorandum, and the repayment must include accrued interest. The repayment must occur within 60 days after the loan obligations are satisfied, or within 60 days of the law’s enactment for loans already satisfied.

Key Provisions

  • Amends the Railroad Revitalization and Regulatory Reform Act to add a requirement that the Secretary repay the credit‑risk premium (plus interest) for each cohort 3 railroad loan within 60 days after all loan obligations are satisfied.
  • If a cohort 3 loan’s obligations were already satisfied before the law takes effect, the Secretary must repay the premium (plus interest) within 60 days of the law’s enactment.

Legislative Activity

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2 earlier actions
HouseCommittee Latest Action

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Railroads, Pipelines, and Hazardous Materials Subcommittee

May 19, 2021

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HouseIntro Referral

Introduced in House

May 18, 2021

HouseIntro Referral

Referred to the House Committee on Transportation and Infrastructure.

Transportation and Infrastructure Committee

May 18, 2021

HouseCommittee

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Railroads, Pipelines, and Hazardous Materials Subcommittee

May 19, 2021

Bill Text

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Introduced in HouseIssued May 18, 2021

I

117th CONGRESS

1st Session

H. R. 3318

IN THE HOUSE OF REPRESENTATIVES

May 18, 2021

Mr. Perlmutter (for himself, Mr. Crow, Mr. Buck, and Ms. DeGette) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure

A BILL

To require the Secretary of Transportation to repay the credit risk premiums paid with respect to certain railroad infrastructure loans after the obligations attached to such loans have been satisfied.

1.

Short title

This Act may be cited as the Railroad Rehabilitation and Improvement Financing Equity Act.

2.

Credit risk premiums

Section 502(f) of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 822(f)) is amended by adding at the end the following:

(5)

Refund of premiums

The Secretary shall repay the credit risk premium of each loan in cohort 3, as defined by the Department of Transportation’s memorandum to the Office of Management and Budget dated November 5, 2018, with interest accrued thereon, not later than 60 days after the date on which all obligations attached to each such loan have been satisfied. For each such loan for which obligations have already been satisfied, as of the date of enactment of the Railroad Rehabilitation and Improvement Financing Equity Act, the Secretary shall repay the credit risk premium of each such loan, with interest accrued thereon, not later than 60 days after the date of the enactment of such Act.

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