H.R. 4442 — CHARGE Investments Act

This section expands eligibility for direct loans and loan guarantees under the Railroad Rehabilitation and Improvement Financing (RRIF) program by (1) adding as an eligible activity the financing of economic development—including commercial and residential development and related infrastructure—that is physically connected to or within 1/4 mile of a fixed guideway transit station using rail or a fixed catenary system, is at least 2 miles from a downtown core not serviced by intercity passenger rail, and incorporates private investment greater than 20% of total project costs; and (2) extending, for intercity passenger rail station projects, the eligibility radius to include the nearest downtown core within 2 miles of a station not located in a downtown core, provided the project is in that core and public transportation connects the station to it. The section also defines "downtown core" (i.e., an area of highest office square footage or employment density officially designated by planning authorities as a central business district or similar) and "intercity rail passenger transportation" (as defined in 49 U.S.C. 24102).