Mass Transit Amendments Act of 1997

Mass Transit Amendments Act of 1997 - Amends Federal transportation law to add to the general purposes of mass transportation programs: (1) providing financial assistance to State and local governments to help carry out national goals related to mobility for individuals seeking employment or job training in order to end their reliance on public assistance programs; and (2) achieving demonstrable reductions in energy consumption and air pollution through increased reliance on mass transportation. (Sec. 4) Authorizes the Secretary of Transportation to make grants to States, local governments, and private nonprofit organizations to provide access, through the use of vans, buses, or train routes, to suburban employment and job training opportunities to residents of distressed urban and rural areas. Defines "distressed urban area" as any urban area with a population over 50,000 that meets certain Housing and Urban Development criteria. Authorizes appropriations. (Sec. 5) Requires metropolitan planning organizations in developing transportation plans and programs to consider, among other things, the transportation requirements of a strategy to revitalize the Nation's inner cities by creating new employment, job training, housing, mobility, and other economic opportunities in urban areas. (Sec. 6) Makes mass transportation block grants for capital projects and related equipment and facilities available for maintaining capital assets. (Sec. 7) Authorizes urbanized areas with a population of less than 200,000 and rural areas to use capital project block grants for either operating or capital needs. (Sec. 8) Extends for an additional four-year period discretionary grants and loans: (1) for fixed guideway modernization and capital projects for new fixed guideway systems and extensions to existing systems; and (2) to replace, rehabilitate, and buy buses and related equipment and to construct bus-related facilities. (Sec. 9) Declares that the Secretary may authorize a recipient who no longer needs an asset acquired with mass transportation block grant assistance to sell (currently, transfer) such asset and retain the proceeds of the sale if certain conditions are met. (Sec. 10) Authorizes appropriations through FY 2002 for: (1) certain apportionments to urbanized areas for fixed guideway modernization (nondiscretionary); (2) specified mass transportation programs; (3) the national mass transportation institute; (4) university research institutes; and (5) transportation centers (including set-asides). (Sec. 11) Amends the Internal Revenue Code to require the Secretary, for apportionment adjustment purposes, to estimate quarterly the net highway receipts of the Mass Transit Account of the Highway Trust Fund (HTF) for the 24-month period (currently, 12-month period) beginning at the close of the next fiscal year. (Sec. 12) Establishes in the HTF the Intercity Passenger Rail Account. Transfers to the Account certain portions of the amounts attributable to taxes for gasoline, diesel fuel, special motor fuels, compressed natural gas, methanol and ethanol fuel, and nongasoline noncommercial aviation fuels. Makes amounts in the Account available to finance qualified expenses of the National Railroad Passenger Corporation (Amtrak) and each non-Amtrak State. (Redistributes to the Intercity Passenger Rail Account and the Mass Transit Account the 4.3 cents per gallon gasoline tax which is currently going to deficit reduction.) Increases the rate of transfer to the Mass Transit Account. Extends until October 1, 2002, the availability of Mass Transit Account funds for authorized expenditures. Increases the HTF financing rate for gasoline, special motor fuels, and diesel fuel.