[Congressional Bills 110th Congress] [From the U.S. Government Publishing Office] [H.R. 6464 Introduced in House (IH)] 110th CONGRESS 2d Session H. R. 6464 To make certain amendments to the loan and loan guarantee program under section 502 of the Railroad Revitalization and Regulatory Reform Act of 1976. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 10, 2008 Mr. Braley of Iowa (for himself and Mr. Loebsack) introduced the following bill; which was referred to the Committee on Transportation and Infrastructure _______________________________________________________________________ A BILL To make certain amendments to the loan and loan guarantee program under section 502 of the Railroad Revitalization and Regulatory Reform Act of 1976. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Back on Track Act''. SEC. 2. AMENDMENTS. Section 502 of the Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 822) is amended-- (1) in subsection (e), by adding at the end the following new paragraph: ``(3) Bridge construction or repair.--For direct loans and loan guarantees for construction or repair of a railroad bridge in an area with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of flooding or flood-related incidents beginning in 2008-- ``(A) the interest rate shall be set at 1 percent; and ``(B) the credit risk premium required by subsection (f)(2) shall not exceed 2 percent of total loan or loan guarantee amount.''; and (2) in subsection (g)(1), by striking ``25 years'' and inserting ``35 years''. <all>