THE NATIONAL HIGHWAY SYSTEM--FINANCING ITS FUTURE: THE ROLE OF INNOVATIVE FINANCE

In the National Highway System (NHS) Designation Act of 1995, Congress enacted a number of improvements in the way states and other may finance NHS and other transportation infrastructure so that needed projects can advance, even in a constrained budget environment. Collectively, there provisions are termed "innovative finance," because almost all had their beginnings in the Federal Highway Administration's (FHWA) Test and Evaluation Program--Innovative Finance (TE-045). To date, 67 projects in 34 states with a total value of more than $4 billion have been accepted in this Innovative Finance Program. A number of these techniques, as well as some new provisions, have been included in the NHS Designation Act. They include increased state advance construction flexibility, expanded access to capital markets, increased federal share for many toll projects, expanding project loans to non-toll projects, more flexible state matching requirements, and the State Infrastructure Bank pilot program. Five sidebars outline case studies in Ohio, South Carolina, Maine, and California.

• Record URL:
  http://www.fhwa.dot.gov/publications/publicroads/96spring/p96sp2.cfm
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/1586080
• Corporate Authors:

  Federal Highway Administration

  1200 New Jersey Avenue, SE
  Washington, DC  United States  20590
• Authors:
  • Garvey, J F
• Publication Date: 1996

Language

• English

Media Info

• Features: Photos;
• Pagination: p. 39-43
• Serial:
  • Public Roads
  • Volume: 59
  • Issue Number: 4
  • Publisher: Federal Highway Administration
  • ISSN: 0033-3735
  • Serial URL: https://www.fhwa.dot.gov/publications/publicroads/
• Publication flags:

  Open Access (libre)

Subject/Index Terms

• TRT Terms: Case studies; Federal government; Financial capital; Financing; Flexibility; Government funding; Grant aid; Legislation; Public policy; State government; Toll roads
• Identifier Terms: Intermodal Surface Transportation Efficiency Act of 1991; National Highway System Designation Act; State infrastructure Bank; U.S. Federal Highway Administration
• Geographic Terms: California; Maine; Ohio; South Carolina
• Subject Areas: Finance; Highways; Law; Policy; I10: Economics and Administration;

Filing Info

• Accession Number: 00781734
• Record Type: Publication
• Files: TRIS, ATRI, USDOT
• Created Date: Jan 18 2000 12:00AM