S. 2805 would authorize the Department of Transportation (DOT) to provide loans and loan guarantees under the Railroad Rehabilitation and Improvement Financing program (RRIF) for certain economic development projects tangentially related to passenger rail services for an additional two years through December 4, 2021. The bill also would require DOT to report to the Congress semiannually on the number of applications received and the number of loans issued for such economic development projects.
Using information from DOT on the number of RRIF applications received for such economic development projects in recent years, CBO estimates that implementing S. 2805 would cost less than $500,000 over the 2020-2024 period. Any such spending would be subject to the availability of appropriated funds.