; (2) by inserting before paragraph (2) (as so redesignated) the following: (1) Administratively allocated The term administratively allocated means the allocation by the Secretary of budget authority for a project under the TIFIA program that occurs when— (A) a potential applicant has been invited into the creditworthiness phase for a project under the TIFIA program; or (B) the project is subject to a master credit agreement, in accordance with section 602(b)(2). ; (3) in subparagraph (E) of paragraph (11) (as so redesignated), by striking 3 years and inserting 5 years ; and (4) in paragraph (13) (as so redesignated)— (A) by striking subparagraph (E) and inserting the following: (E) a project to improve or construct public infrastructure— (i) that— (I) is located within walking distance of, and accessible to, a fixed guideway transit facility, passenger rail station, intercity bus station, or intermodal facility, including a transportation, public utility, or capital project described in section 5302(3)(G)(v) of title 49, and related infrastructure; or (II) is a project for economic development, including commercial and residential development, and related infrastructure and activities— (aa) that incorporates private investment; (bb) that is physically or functionally related to a passenger rail station or multimodal station that includes rail service; (cc) for which the project sponsor has a high probability of commencing the contracting process for construction by not later than 90 days after the date on which credit assistance under the TIFIA program is provided for the project; and (dd) that has a high probability of reducing the need for financial assistance under any other Federal program for the relevant passenger rail station or service by increasing ridership, tenant lease payments, or other activities that generate revenue exceeding costs; and (ii) for which, by not later than September 30, 2025, the Secretary has— (I) received a letter of interest