Week of March 14, 2016
“Orphaned” Funds Available
Recent new guidance from the Federal Highway Administration (FHWA) announced that roughly $2 billion in previously unused earmarks can be put back to work to support infrastructure projects across the country. As previously reported, the guidance implements a provision in the Consolidated Appropriations Act 2016, which gave states the option of repurposing certain earmarked funds if the original earmark was over 10 years old, and if less than 10 percent of project funds had been obligated, or if the project is closed. Through the end of FY 2016, states have the option of re-designating these dollars to other projects within 50 miles of the originally intended use.
FHWA’s list of potentially eligible old earmarks meeting the under 10% obligation requirement totals $1.96 billion. A list of earmarks that may be eligible for repurposing is available here http://www.fhwa.dot.gov/cfo/earmarkrepurposing.
Here’s a quick first look around ERC:
ALLOCATED EARMARK PROJECTS STATUS FOR FUNDS AVAILABLE IN FMIS DEMO by STATE or TERRITORY LESS THAN 10% OBLIGATED,
As of December 18, 2015
(Millions of US $)
New Hampshire $7.531
New Jersey $115.979
New York* $207.218
Puerto Rico $14.785
Rhode Island $3.121
* New York has the largest amount of potential repurposed funds nationally.
The March 8th action also builds on a similar action in August 2012, when USDOT made over $470 million in unspent earmarks immediately available to states for projects that create jobs and help improve transportation across the country.
We hope you’ll mark your calendars to attend the 56th CSG/ERC Annual Meeting which will be held from
August 7-10, 2016 in Quebec City, Quebec, Canada.
For more transportation policy committee activities contact:
CSG|ERC Transportation Policy Co-consultants:
Steve Hewitt, email@example.com or Don Hannon, DonHannon@iCloud.com
22 Cortlandt Street | 22nd Floor | New York, NY 10007 | p. (212) 482-2320 | f. (212) 482-2344
Transportation Policy Newsletter March 18, 2016
“Keeping our Members informed”