- Equipment World - http://www.equipmentworld.com -
Reauthorization Proposal Overview
Posted By John Latta On July 7, 2011 @ 3:30 pm In The Roadologist | No Comments
Here’s a summary of the reauthorization proposal from the House Transportation and Infrastructure Committee as it affects road and bridge industries.
*Funding: Provides $230 billion over six years from the Highway Trust Fund – consistent with the amount of revenue deposited into the Highway Trust Fund during that time frame.
*Better Leverage Existing Resources: Funds the TIFIA program at $1 billion per year and provides incentives for states to create and capitalize State Infrastructure Banks.
*Surface Transportation Program Reform: Consolidates or eliminates nearly 70 duplicative programs or programs not in the federal interest.
* No longer requires states to spend highway funding on non-highway activities, but permits
states to fund those activities if they so choose.
*Streamlining the Project Delivery Process:Cuts bureaucratic red tape by allowing federal agencies to review transportation projects concurrently,delegates project approval authority to states, and establishes hard deadlines for federal agencies to make decisions on permits and project approvals.
* Expands the list of activities that qualify for Categorical Exclusions – an approval process that
is faster and simpler than the standard process.
*Federal Highway Program: Distributes nearly all federal highway funding to state DOTs through formula programs designed to preserve existing highways, build new highway capacity, and address congestion,freight mobility, and highway safety.
* Focuses the Federal Highway Program on the Interstate Highway System and the National
Highway System – the highways that facilitate interstate travel and commerce.
Article printed from Equipment World: http://www.equipmentworld.com
URL to article: http://www.equipmentworld.com/reauthorization-proposal-overview/
Copyright © 2012 Equipment World -- Development. All rights reserved.