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The rulemaking replaced outdated statutory language about federal regulations:               

• The rule replaces outdated language in the TIFIA regulations and now requires a TIFIA project to satisfy the applicable planning and programming requirements as laid out in the TIFIA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

Reports to Congress

TIFIA Annual Letters of Interest

• FY 2023 Report to Congress on TIFIA Projects Submitting Letters of Interest (May 2, 2024)
• FY 2020, 2021 and 2022 Report to Congress on TIFIA Projects Submitting Letters of Interest (October 18, 2023)
• FY 2019 Report to Congress on TIFIA Projects Submitting Letters of Interest (April 22, 2020)
• FY 2018 Report to Congress on TIFIA Projects Submitting Letters of Interest (May 21, 2019)
• FY 2017 Report to Congress on TIFIA Projects Submitting Letters of Interest (May 18, 2018)
• FY 2016 Report to Congress on TIFIA Projects Submitting Letters of Interest (September 13, 2017)
• FY 2015 Report to Congress on TIFIA Projects Submitting Letters of Interest (March 16, 2016)
• FY 2014 Report to Congress for TIFIA Projects Submitting Letters of Interest (December 5, 2014)
• FY 2013 Report to Congress on TIFIA Projects Submitting Letters of Interest (February 7, 2014)
• FY 2012 Report to Congress on TIFIA Projects Submitting Letters of Interest (April 22, 2013)

TIFIA Biennial Financial Performance

• 2024 Report to Congress (PDF)
• 2020 Report to Congress (PDF)
• 2018 Report to Congress (PDF)
• 2016 Report to Congress (PDF)
• 2014 Report to Congress (PDF)

RRIF Semiannual Report on Transit-Oriented Development Projects

• Semiannual Report to Congress on RRIF Transit-Oriented-Development Projects, as of December 31, 2023
• Semiannual Report to Congress on RRIF Transit-Oriented-Development Projects, as of June 30, 2023
• Semiannual Report to Congress on RRIF Transit-Oriented-Development Projects, as of December 31, 2022
• Semiannual Report to Congress on RRIF Transit-Oriented Development Projects, as of June 30, 2022

Regional Infrastructure Accelerators Demonstration Program

• Annual Report to Congress on the Regional Infrastructure Accelerators Demonstration Program, as of February 28, 2023

Other Reports

• Implementation of FAST Act Mandates, December 2020 

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