Catalyzing Housing and American Ready Growth and Expansion Investments Act; CHARGE Investments Act
Summary
The CHARGE Investments Act aims to amend Title 49 of the United States Code, focusing on transit-oriented development (TOD) projects near intercity passenger rail or fixed guideway rail transit. It modifies eligibility radius requirements under the railroad rehabilitation and improvement program. The bill seeks to promote economic development, including commercial and residential projects, near transit stations.
Expected Effects
The Act will broaden the scope of projects eligible for direct loans and loan guarantees under the railroad rehabilitation and improvement program. This expansion includes projects within a quarter-mile of fixed guideway transit stations or within a two-mile radius of intercity rail stations, provided they meet specific criteria. It also defines 'downtown core' to clarify eligibility.
Potential Benefits
- Encourages economic development near transit stations.
- Promotes private investment in TOD projects.
- Improves connectivity between intercity rail and downtown areas.
- Supports the development of residential and commercial properties near transit.
- Potentially increases ridership on public transportation.
Potential Disadvantages
- May increase development pressure on areas near transit stations.
- Could lead to increased property values and potential displacement of residents.
- The definition of 'downtown core' might be subject to interpretation and manipulation.
- Focus on rail may neglect other forms of public transportation.
- Potential for projects to prioritize commercial over residential needs.
Constitutional Alignment
The bill appears to align with the Constitution's Commerce Clause (Article I, Section 8), which grants Congress the power to regulate interstate commerce, as it pertains to transportation and infrastructure development. The 'general Welfare' clause of the Preamble could also be invoked, as the bill aims to promote economic growth and improve public services. However, the specific implementation and potential impacts on property rights could raise questions under the Fifth Amendment's Takings Clause if not properly managed.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).