TITLE

Transportation Coalition Wants $1.8 Billion in Bonding for Railroads

AUTHOR(S)
Sanchez, Humberto
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/30/2003, Vol. 344 Issue 31625, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
A group of 24 state transportation departments called on the U.S. Congress on April 29, 2003 to implement a program that would allow the issuance of up to 1.8 billion dollars in taxable tax-credit bonds over three years to develop and improve passenger rail infrastructure. Under the program � proposed by the States for Passenger Rail Coalition � a state or state compact would be allowed to issue tax-credit bonds for passenger rail projects after the projects were approved by the Department of Transportation, which would administer the program. The group's plan would allow up to 500 million dollars in tax credit bonds to be issued in fiscal 2004, 600 million dollars in 2005, and 700 million dollars in 2006.
ACCESSION #
9810713

 

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