§22406 Authorization of Appropriations.

Summary

Congress allows up to $50,000,000 each year for credit help under this chapter for fiscal years 2022 through 2026. It also allows $70,000,000 to repay a credit risk premium. Money stays available until it is all spent. No single loan or loan guarantee can get more than $20,000,000. At least 3% of each year’s money must be available to the Secretary for administrative costs instead of fees from passenger railroads and freight railroads that are not Class I carriers. At least 50% of each year’s $50,000,000 must be set aside for those smaller freight railroads.