CHARGE Investments Act

This bill updates a federal railroad loan program so more “transit-oriented” projects can qualify. It lets housing, shops, and related infrastructure near rail transit stations apply for loans and loan guarantees under the program. These projects must include private investment covering more than 20% of total costs.

If an intercity passenger rail station sits outside the downtown, the nearest downtown within up to two miles can also count for eligibility—if there is public transit linking the station to that downtown. The bill defines “downtown core” as the officially designated area of a city or region with the highest job or office concentration. Projects need to be connected to, or within a set distance of, a rail transit station to qualify.

Key points

• Who is affected: Cities, transit agencies, developers, and communities near rail lines and downtowns.
• What changes: Expands loan eligibility for mixed-use and housing near rail; allows an extended eligibility area to include the closest downtown within two miles when the station is outside downtown; requires at least 20% private investment.
• When: Would take effect if enacted; it changes eligibility rules within the existing federal railroad loan program.