Citing limited current demand for the level of funding authorized for the Transportation Infrastructure Finance and Innovation Act (TIFIA), the Senate Appropriations Committee version of the transportation appropriations bill for FY 2003 stipulates that the TIFIA program will operate on the $96 million left over in program coffers in FY 2002.
The July 26, 2002, Senate report for transportation appropriations bill (Senate Report 107-224) details the appropriations committee's interest in using FY 2003 contract authority for TIFIA to provide additional funding for the Transportation and Community and System Preservation pilot program, the National Corridor Planning and Development Program and the Coordinated Border Infrastructure and Safety Program. TEA-21 provides $130 million for TIFIA in FY 2003.
U.S. DOT reports that the TIFIA program has used $200 million in federal funding to leverage $3.7 billion in credit assistance to aid $15 billion of transportation investment since its initiation in 1999. The TIFIA program generally supports projects costing at least $100 million ($30 million for intelligent transporation systems) and is limited to 33% of eligible costs.
