INTERSTATE RAIL COMPACTS.

SEC. 410. INTERSTATE RAIL COMPACTS. (a) Consent to Compacts.—Congress grants consent to States with an interest in a specific form, route, or corridor of intercity passenger rail service (including high speed rail service) to enter into interstate compacts to promote the provision of the service, including— (1) retaining an existing service or commencing a new service; (2) assembling rights-of-way; and (3) performing capital improvements, including— (A) the construction and rehabilitation of maintenance facilities; (B) the purchase of locomotives; and (C) operational improvements, including communications, signals, and other systems. (b) Financing.—An interstate compact established by States under subsection (a) may provide that, in order to carry out the compact, the States may— (1) accept contributions from a unit of State or local government or a person; (2) use any Federal or State funds made available for intercity passenger rail service ; (3) on such terms and conditions as the States consider advisable— (A) borrow money on a short-term basis and issue notes for the borrowing; and (B) issue bonds; and (4) obtain financing by other means permitted under Federal or State law. (c) Notification Requirement.—Any State that enters into an interstate compact pursuant to subsection (a) shall notify the Secretary of Transportation of such compact not later than 60 days after it is formed. The failure of any State to notify the Secretary under this subsection shall not affect the status of the interstate compact. (d) Interstate Rail Compacts Program.—The Secretary of Transportation shall— (1) make available on a publicly accessible website a list of interstate rail compacts established under subsection (a) before the date of enactment of the Passenger Rail Expansion and Rail Safety Act of 2021 and interstate rail compacts established after such date; and (2) make information regarding interstate rail compacts available to the public, including how States may establish interstate rail compacts under subsection (a), and update such information, as necessary. [49 U.S.C. 24101 nt]