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house Bill H.R. 2663

TIFIA of 2009

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Transportation and Infrastructure
      Highways and Transit
    IntroducedJune 2nd, 2009

Bill Details

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Title

TIFIA of 2009

Official Title

To amend title 23, United States Code, to increase certain infrastructure finance provisions, and for other purposes.

Summary

Transportation Infrastructure Finance and Innovation Act of 2009 or TIFIA of 2009 - Revises terms of secured loans and lines of credit used to finance certain transportation infrastructure projects to increase the maximum loan amount for such projects from the lesser of 33% to the lesser of 49% of the eligible project costs or, if the loan does not receive an investment grade rating, the amount of the senior project obligations. Increases the total amount of the line of credit for such projects from 33% to 49% of the reasonably anticipated eligible project costs. Declares that, in the event of the obligor's bankruptcy, insolvency, or liquidation, a direct loan from the Secretary of Transportation for an infrastructure project shall not be subordinated to the claims of any holder of project obligations entered into after (not including such obligations issued to refund prior project obligations), or not contemplated by the parties at the time, the Secretary's agreement to provide the line of credit is entered into. Authorizes appropriations for FY2010-FY2015 for such projects.

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