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![handle is hein.usccsset/usconset50573 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
109TH CONGRESS REPT. 109-314
1st Session HOUSE OF REPRESENTATIVES Part 1
RAIL INFRASTRUCTURE DEVELOPMENT AND EXPANSION
ACT FOR THE 21ST CENTURY
NOVEMBER 18, 2005.-Ordered to be printed
Mr. YOUNG of Alaska, from the Committee on Transportation and
Infrastructure, submitted the following
REPORT
[To accompany H.R. 1631]
[Including cost estimate of the Congressional Budget Office]
The Committee on Transportation and Infrastructure, to whom
was referred the bill (H.R. 1631) to provide for the financing of
high-speed rail infrastructure, and for other purposes, having con-
sidered the same, report favorably thereon without amendment and
recommend that the bill do pass.
PURPOSE OF THE LEGISLATION
H.R. 1631 would authorize approximately $60 billion in infra-
structure funding for high-speed rail corridors and other rail infra-
structure. This would be divided principally between authority for
states participating in a high-speed rail corridor to issue tax-ex-
empt and/or tax-credit bonds, and an expansion of the existing rail-
road infrastructure financing loan program established in TEA-21
(P.L. 105-178) from $3.5 billion in authorized principal to $35 bil-
lion. H.R. 1631 would also reauthorize and expand the existing
Swift Rail Development Act program of general fund grants for
planning and technology development related to high-speed rail
corridors.
BACKGROUND AND NEED FOR THE LEGISLATION
H.R. 1631 was introduced by Mr. Young (of Alaska), Mr. Ober-
star, Mr. LaTourette, and Ms. Brown (of Florida) on April 14, 2005.
Over a ten-year period, states or interstate compacts would be
permitted to issue $12 billion in federally tax-exempt bonds and
$12 billion in federal tax-credit bonds for infrastructure improve-
ments for high-speed passenger rail. The Secretary of Transpor-
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