2025-03588NoticeWallet

DOT Seeks Comments on Railroad Financing Form Tweaks

Published Date: 3/6/2025

Notice

Summary

The Department of Transportation wants to update the forms used for applying to railroad and transportation financing programs. This change affects anyone seeking loans or credit through these programs and aims to make the process smoother. Comments on the update are open until April 7, 2025, with no extra costs expected for applicants.

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Time burden to prepare LOIs and applications

If you apply for RRIF or TIFIA credit assistance, the Department estimates it takes at least 20 person-hours to assemble a single LOI and at least 100 person-hours to assemble a single application. The Department expects annually 8 RRIF LOIs, 12 TIFIA LOIs, 8 RRIF applications, and 12 TIFIA applications, with total annual hour burdens of 960 hours for RRIF and 1,440 hours for TIFIA.

Single updated LOI and application forms

The Build America Bureau has revised and combined the Letter of Interest (LOI) and application forms so a single LOI and a single application can be used for both RRIF and TIFIA credit programs. The forms were updated to reflect application-process efficiencies, clarify information, and make the forms easier for applicants to use; the Department is seeking OMB approval to modify the LOI and application.

Personalized for You

How does this regulation affect your finances?

Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Key Dates

Published Date
3/6/2025

Department and Agencies

Department
Independent Agency
Agency
Transportation Department
Source: View HTML

Related Federal Register Documents

Previous / Next Documents

Back to Federal Register