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Faster Funding for Infrastructure Projects: Roads, Bridges, and Transport

This act aims to accelerate and simplify the financing of large transportation projects, such as road and bridge construction. It increases loan accessibility and streamlines the application process, potentially leading to quicker completion of investments that improve travel quality and safety. Citizens may benefit from better infrastructure and reduced waiting times for modernization.
Key points
The minimum loan amount for infrastructure projects has been increased from $75 million to $150 million, facilitating funding for larger investments.
An expedited decision process for public agencies seeking loans has been introduced, shortening the decision waiting time to 180 days.
Monthly and quarterly status reports on funding applications are now required, increasing process transparency.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_941
Sponsor: Sen. Cornyn, John [R-TX]
Process start date: 2021-03-24
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

RAPID Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_941.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-24.

What are the main provisions?

Key points include:

  • The minimum loan amount for infrastructure projects has been increased from $75 million to $150 million, facilitating funding for larger investments.
  • An expedited decision process for public agencies seeking loans has been introduced, shortening the decision waiting time to 180 days.
  • Monthly and quarterly status reports on funding applications are now required, increasing process transparency.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cornyn, John [R-TX].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Transport Public Investments Economy