Redesignates existing definition paragraphs and inserts new definitions, including definitions for "attainable housing project," "investment-creditworthiness assessment alternative," and "transit-oriented development project".

Modifies eligibility and project selection provisions to add and adapt requirements specific to transit-oriented development projects and attainable housing projects, adjusts creditworthiness assessment handling, provides NEPA pre-award acquisition exemption and categorical exclusion provisions for certain transit-oriented development activities, and adds a requirement that at least 75% of TIFIA assistance for an attainable housing project be used for residential components.

Adds and revises secured loan provisions to (1) allow an investment-creditworthiness assessment alternative in addition to an investment-grade rating, (2) limit secured loan amounts for certain transit-oriented development projects to not exceed 75% of reasonably anticipated eligible project costs, (3) add a provision addressing loans for attainable housing projects with an interest rate tied to the Treasury Rate as specified, and (4) require the Secretary to develop a public fee structure and guidance on project requirements (debt service coverage, loan-to-cost/value thresholds, distribution covenants).

Revises paragraph (4) (heading and structure) concerning limitation for airport-related projects and updates paragraph (6) to extend the fiscal-year authorization/limitation period.

Adds a new section establishing a delegated origination and underwriting program for transit-oriented development (TOD) projects under the TIFIA program, including program structure modeled on HUD's Multifamily Accelerated Processing system, allowance that projects under the program need not have an investment-grade rating, a requirement for regulations within 180 days of enactment, and an interagency agreement with HUD to leverage lender approval processes and provide guidance to reduce processing time while preserving oversight.

Clerical amendment adding an entry to the analysis (table of contents) for title 23, chapter 6 to reflect the new section (612) on delegated origination and underwriting for TOD projects.

This section provides that the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) shall not apply to certain land acquisition activities for transportation-oriented development projects, except for components of the project located within parcel boundaries that will be owned, in full or in part, by a public entity for the majority of the loan term.