HR 1020 · 107th Congress · Transportation and Public Works

Railroad Track Modernization Act of 2001

Introduced 2001-03-14· Sponsored by Rep. Quinn, Jack [R-NY-30]· House

Bill Progress

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Introduced

Committee

House Vote

Senate

Enacted

Latest: Placed on the Union Calendar, Calendar No. 52.(2001-06-12)

Plain Language Summary

[AI summary unavailable — showing source text] Railroad Track Modernization Act of 2001 - Amends Federal rail transportation law to direct the Secretary of Transportation to establish a program of capital grants to Class II and Class III railroads to rehabilitate, preserve, or improve railroad track (including roadbed, bridges, and related track structures) used primarily for freight transportation to a standard to accommodate 286,000 pound rail cars in a safe and efficient manner. Authorizes the Secretary to also make grants to supplement direct loans or loan guarantees (including for paying credit risk premiums, lowering rates of interest, or providing for a holiday on principal payments) for projects primarily benefitting non-Class I freight railroad carriers. Sets forth certain prevailing wage requirements with respect to projects financed by such grants.…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 1020, Railroad Track Modernization Act of 2001

Jun 6, 2001

<p>Cost estimate for the bill as ordered reported by the House Committee on Transportation and Infrastructure on May 16, 2001</p>

Full CBO report ↗