Federal Credit Assistance
- The Transportation Infrastructure Finance and Innovation Act (TIFIA)
Provides Federal credit assistance in the form of direct loans, loan guarantees, and standby lines of credit to finance surface transportation projects of national and regional significance.
- State Infrastructure Banks (SIBs)
Allow states to capitalize revolving loan funds with regularly apportioned Federal-aid highway funds.
- The Railroad Rehabilitation and Improvement Financing (RRIF) Program
Provides direct Federal loans and guarantees to support the development of railroad infrastructure.
- Section 129 Loans
Federal participation in a state loan to support projects with dedicated revenue streams such as tolls, excise taxes, sales taxes, and others.
Railroad Rehabilitation and Improvement Financing Program
The Railroad Rehabilitation and Improvement Financing (RRIF) program provides direct Federal loans and loan guarantees to finance development of railroad infrastructure is intended to make funding available through loans and loan guarantees for railroad capital improvements. The RRIF program was established by the Transportation Equity Act for the 21st Century (TEA-21) and amended by the Safe Accountable, Flexible and Efficient Transportation Equity Act: a Legacy for Users (SAFETEA-LU). The program was most recently amended by the Fixing America's Surface Transportation (FAST) Act, and USDOT is working to implement the changes.
Under this program the FRA Administrator is authorized to provide direct loans and loan guarantees up to $35.0 billion to finance development of railroad infrastructure. Up to $7 billion is reserved for projects benefiting freight railroads other than Class I carriers.
The funding may be used to:
- Acquire, improve, or rehabilitate intermodal or rail equipment or facilities, including track, components of track, bridges, yards, buildings and shops;
- Refinance outstanding debt incurred for the purposes listed above; and
- Develop or establish new intermodal or railroad facilities
Further information on the RRIF Program is available from the Build America Bureau.