Section 1. Short title
This Act may be cited as the Modal Parity in Permitting Act.
(a) In general
Section 5323(q) of title 49, United States Code, is amended—
(1) in the heading, by striking Corridor preservation and inserting Real property interests;
(2) in paragraph (1)—
(A) by striking right-of-way each time it appears and inserting real property interests; and
(B) by inserting acquired after may use the; and
(3) in paragraph (2), by striking Right-of-way and inserting Real property interests.
(b) Updates required
Not later than 6 months after the date of enactment of this Act, the Administrator of the Federal Transit Administration shall update the FTA Circular 5010.1F (published on November 1, 2024), or any successor circular or regulations, and any other relevant guidance as necessary to implement the amendments made by subsection (a).
(a) In general
Chapter 242 of title 49, United States Code, is amended by adding at the end the following:
(a) Acquisition of real property interests during environmental review
A recipient of financial assistance under chapter 229, 249, or 243 may use such assistance to acquire, through purchase, lease, or otherwise, any real property interest necessary for a project before the environmental review for the project is complete if the acquisition or related transaction is otherwise permitted by Federal law.
(b) Timing of development
A real property interest purchased, leased, or otherwise acquired under subsection (a) may not be physically developed or improved in anticipation of the project until all required environmental reviews for the project have been completed.
(b) Clerical amendment
The analysis for chapter 242 of title 49, United States Code, is amended by adding at the end the following: