Transportation Infrastructure Credit Act of 1997

Transportation Infrastructure Credit Act of 1997 - Authorizes the Secretary of Transportation to enter into agreements with one or more obligors to make direct and guaranteed loans and lines of credit to States to finance eligible surface transportation projects (including the refinancing of interim construction financing of such project costs). Sets forth certain requirements and eligibility criteria for such assistance.

Authorizes the Secretary to establish a pilot program to encourage public-private partnerships and facilitate infrastructure development by entering into agreements with one or more insureds to provide insurance for preconstruction costs associated with such projects.

Requires the State in which a project receiving assistance is located to identify a local servicer to act as the Secretary's agent in servicing the direct loan or insurance provided.

Amends Federal transportation law to make it the Secretary's duty to develop and coordinate Federal policy on financing transportation infrastructure, including the provision of direct Federal credit assistance and other techniques used to leverage Federal transportation funds.

Directs the Secretary to establish within the Office of the Secretary an Office of Infrastructure Finance, headed by a Director who shall be responsible for: (1) carrying out certain responsibilities of the Secretary; (2) carrying out research on financing transportation infrastructure; and (3) providing technical assistance to Federal, State, and local government agencies and officials to facilitate the development and use of alternative techniques for financing transportation infrastructure.