Sec. 11604. ELIGIBLE PURPOSES

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## SEC. 11604 ELIGIBLE PURPOSES ###

(a)In general Section 502(b)(1) (45 U.S.C. 822(b)(1)) is amended— ####

(1)in subparagraph (A), by inserting “, and costs related to these activities, including pre-construction costs” after “shops”; ####

(2)in subparagraph (B), by striking “subparagraph (A); or” and inserting “subparagraph

(A)or (C);”; ####

(3)in subparagraph (C), by striking the period at the end and inserting a semicolon; and ####

(4)by adding at the end the following: > > ##### “(D) > > reimburse planning and design expenses relating to activities described in subparagraph

(A)or (C); or > > > ##### “(E) > > finance economic development, including commercial and residential development, and related infrastructure and activities, that— > > > ###### “(i) > > incorporates private investment; > > > ###### “(ii) > > is physically or functionally related to a passenger rail station or multimodal station that includes rail service; > > > ###### “(iii) > > has a high probability of the applicant commencing the contracting process for construction not later than 90 days after the date on which the direct loan or loan guarantee is obligated for the project under this title; and > > > ###### “(iv) > > has a high probability of reducing the need for financial assistance under any other Federal program for the relevant passenger rail station or service by increasing ridership, tenant lease payments, or other activities that generate revenue exceeding costs.” > . ###

(b)Required Non-Federal Match for Transit-oriented Development Projects Section 502(h) (45 U.S.C. 822(h)) is amended by adding at the end the following: > > #### “(4) > > The Secretary shall require each recipient of a direct loan or loan guarantee under this section for a project described in subsection (b)(1)(E) to provide a non-Federal match of not less than 25 percent of the total amount expended by the recipient for such project.” > . ###

(c)Sunset Section 502(b) (45 U.S.C. 822(b)) is amended by adding at the end the following: > > #### “(3) Sunset > > The Secretary may provide a direct loan or loan guarantee under this section for a project described in paragraph (1)(E) only during the 4-year period beginning on the date of enactment of the Passenger Rail Reform and Investment Act of 2015.” > .

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45 USC 822(b)(1)
45 USC 822(h)
45 USC 822(b)

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Sec. 11604

ELIGIBLE PURPOSES

Cite45 USC 822(b)(1)

Cite45 USC 822(h)

Cite45 USC 822(b)

Cites 3Cited by 0 across 0 sources