Section 1 Short title
This Act may be cited as the “Fiscally Responsible Highway Funding Act of 2024”.
Fiscally Responsible Highway Funding Act of 2024
A BILL
To provide additional contract authority to State departments of transportation to carry out surface transportation projects, and for other purposes.
Sec. 2 Definitions
Sec. 3 Redistribution of prior TIFIA funding
In general— Notwithstanding any other provision of law, the Secretary shall distribute the amount of contract authority described in subsection (b)(1) to States in accordance with this section.
Funding—
Amount described— Subject to paragraph (2), the amount of contract authority referred to in subsection (a) is $1,800,000,000, which shall be derived from the unobligated amounts of contract authority made available for credit assistance under—
the transportation infrastructure finance and innovation program under subchapter II of chapter 1 of title 23, United States Code (as in effect before the date of enactment of SAFETEA–LU (Public Law 109–59; 119 Stat. 1144)); and
the TIFIA program.
Treatment— The amount distributed under subsection (a) shall—
be subject to the obligation limitation for Federal-aid highway and highway safety construction programs;
remain available until September 30, 2028; and
be in addition to any other funding apportioned to States under section 104(b) of title 23, United States Code.
Distribution— The amount distributed under subsection (a) shall be distributed so that each State receives an amount equal to the proportion that—
the amount apportioned to the State for fiscal year 2025 under subsection (b) of section 104 of title 23, United States Code; bears to
the total amount apportioned to all States for fiscal year 2025 under that subsection.
Requirements— Amounts distributed to States under subsection (a) shall be—
except as otherwise provided in this section, administered as if apportioned under chapter 1 of title 23, United States Code;
available for any purpose described in section 133(b) of that title;
suballocated in the same manner described in section 133(d) of that title; and
subject to the requirements of section 11101(e) of the Infrastructure Investment and Jobs Act (23 U.S.C. 101 note; Public Law 117–58).
Effective date— This section shall take effect as if enacted on October 1, 2024.
Sec. 4 Redistribution of fiscal year 2025 TIFIA funding
Determination—
In general— Notwithstanding any other provision of law and subject to paragraph (2), on April 1, 2025, the Secretary shall—
determine the amount of contract authority made available for credit assistance under the TIFIA program for fiscal year 2025 pursuant to section 11101(a)(2) of the Infrastructure Investment and Jobs Act (Public Law 117–58; 135 Stat. 443) that is estimated to remain unobligated in that fiscal year; and
distribute to States, in accordance with this section, 75 percent of the amount of contract authority determined under subparagraph (A).
Treatment— The amounts distributed under paragraph (1)(B) shall—
be subject to the obligation limitation for Federal-aid highway and highway safety construction programs;
remain available until September 30, 2028; and
be in addition to any other funding apportioned to States under section 104(b) of title 23, United States Code.
Distribution— The amount distributed under subsection (a)(1)(B) shall be distributed so that each State receives an amount equal to the proportion that—
the amount apportioned to the State for fiscal year 2025 under subsection (b) of section 104 of title 23, United States Code; bears to
the total amount apportioned to all States for fiscal year 2025 under that subsection.
Requirements— Amounts distributed to States under subsection (a)(1)(B) shall be—
except as otherwise provided in this section, administered as if apportioned under chapter 1 of title 23, United States Code;
available for any purpose described in section 133(b) of that title;
suballocated in the same manner described in section 133(d) of that title; and
subject to the requirements of section 11101(e) of the Infrastructure Investment and Jobs Act (23 U.S.C. 101 note; Public Law 117–58).
Sec. 5 Redistribution of fiscal year 2026 TIFIA funding
Determination—
In general— Notwithstanding any other provision of law and subject to paragraph (2), on April 1, 2026, the Secretary shall—
determine the amount of contract authority made available for credit assistance under the TIFIA program for fiscal year 2026 pursuant to section 11101(a)(2) of the Infrastructure Investment and Jobs Act (Public Law 117–58; 135 Stat. 443) that is estimated to remain unobligated in that fiscal year; and
distribute to States, in accordance with this section, 75 percent of the amount of contract authority determined under subparagraph (A).
Treatment— The amounts distributed under paragraph (1)(B) shall—
be subject to the obligation limitation for Federal-aid highway and highway safety construction programs;
remain available until September 30, 2029; and
be in addition to any other funding apportioned to States under section 104(b) of title 23, United States Code.
Distribution— The amount distributed under subsection (a)(1)(B) shall be distributed so that each State receives an amount equal to the proportion that—
the amount apportioned to the State for fiscal year 2026 under subsection (b) of section 104 of title 23, United States Code; bears to
the total amount apportioned to all States for fiscal year 2026 under that subsection.
Requirements— Amounts distributed to States under subsection (a)(1)(B) shall be—
except as otherwise provided in this section, administered as if apportioned under chapter 1 of title 23, United States Code;
available for any purpose described in section 133(b) of that title;
suballocated in the same manner described in section 133(d) of that title; and
subject to the requirements of section 11101(e) of the Infrastructure Investment and Jobs Act (23 U.S.C. 101 note; Public Law 117–58).