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U.S. Department of Transportation U.S. Department of Transportation Icon United States Department of Transportation United States Department of Transportation

Federal Reports and Notices


Final Rule effective June 24, 2024

The Bureau, in response to feedback from borrowers and potential applicants, as well as provisions in the Bipartisan Infrastructure Law, amended the Railroad Rehabilitation and Improvement Financing (RRIF) and Transportation Infrastructure Financing and Innovation Act (TIFIA) regulations to better serve clients’ needs. The final rule addresses several issues that should improve the viability of our loan products for some borrowers. 

The rule outlines how interest rates will be set for longer term loans:

  • The Bipartisan Infrastructure Law authorized the Bureau to provide loans for up to 75 years. The Bureau developed a process to set interest rates for loans that have a final maturity date more than 35 years after substantial completion and a loan term of more than 40 years.

The rule allows the Bureau to incorporate the costs of RRIF loans into interest rates: 

  • Prior to this rulemaking, in the absence of appropriated budget authority to cover the cost of a RRIF direct loan, the borrower was required to pay this cost (referred to as the credit risk premium or CRP) prior to disbursement. CRP payments greatly increased the cost of borrowing from the Bureau and were an obstacle to many project sponsors borrowing from the loan program. This rulemaking eliminates the CRP.  Now any direct loan that would have paid a CRP will instead be charged an interest rate spread throughout the life of the loan. 

The rulemaking replaced outdated statutory language about federal regulations:               

  • The rule replaces outdated language in the TIFIA regulations and now requires a TIFIA project to satisfy the applicable planning and programming requirements as laid out in the TIFIA statute. 

For more information, email

Reports to Congress

TIFIA Annual Letters of Interest

TIFIA Biennial Financial Performance

RRIF Semiannual Report on Transit-Oriented Development Projects

Regional Infrastructure Accelerators Demonstration Program

Other Reports


Monthly Reports on Letters of Interest and Applications for RRIF and TIFIA are available on the Project Information Page