STARTUPS South Tampa Bay Area Transportation Partnerships
"A Unified Voice
Advancing Transportation"
"Transportation is
America's Life-line"
FOR IMMEDIATE RELEASE
Congress
Approves H.R. 3 SAFE-TEA LU Bill
Following
a nearly two year delay and an unprecedented 11
extensions, last week Congress approved H.R. 3 the
SAFE-TEA LU legislation reauthorizing highway,
transit and safety programs.The vote in the House of Representatives was
412-8 and 91-4 in the Senate.
Funding
Levels The
funding level in the bill is a guaranteed six-year
total of $286.4 billion, an increase of 30 percent
over the six-year total of TEA-21. According to the
bill, each state will receive at least a nineteen
percent increase of funding over its TEA-21 average.
The distribution formula calls for a 90.5 percent
rate of return in Fiscal Years (FY) 05 and 06,
increasing to 91 percent in FY 07 and to 92 percent
in FY 08 and FY 09. Of this amount, 79 percent is
provided for highway programs, 18.5 percent is
provided for transit, and the remaining 2.5 percent
is for safety programs and enforcement.
The
annual guaranteed highway funding levels are: $36.0
billion in FY 06; $38.2 billion in FY 07; $39.6
billion in FY 08; and $41.2 billion in FY 09. The
current (FY 05) level of guaranteed highway
investment is $34.3 billion. The highway funding
level in the last year of TEA-21, FY 03 was $31.6
billion.
How
Did Florida Do? Under
current law, TEA-21 contains a 90.5 percent
guarantee that applies to about 92 percent of the
funding.This
92 percent figure is known as the scope of the
funding guarantee.Florida's effective rate-of-return of 86 cents
on the dollar is derived by a 90.5 percent guarantee
applied to 92 percent of total funds.
Florida
stands to get an increase in federal
transportation dollars under this new bill and
clearly that's good news.
How
Did the Sarasota-Manatee Area Do? SAFE-TEA
LU Bill Includes Earmarked Projects for the Sarasota/Manatee Area- SAFE-TEA
LU contains an unprecedented number of Congressionally-selected transportation
projects which include $7.6 million for the Sarasota-Manatee area.
Projects earmarked for the Sarasota-Manatee area include: $400,000 toward the
construction of interchange improvements at I-75 and University Parkway - $3.2
million for the SR 43 (US 301) Improvement Project-Ellenton to Parrish - $2.4
million to Acquire Land and Construct the Englewood Interstate Connector in
Sarasota County - $1.6 million to Plan and Construct the 17th Street connector
in the City of Sarasota
President Bush Scheduled
to Sign Highway Bill The President plans to
sign SAFE-TEA LU at a signing ceremony on August 10th in House Speaker Dennis
Hastert's (R-IL) district. He made the announcement at a conference of
conservative legislators, stating "I'll be proud to sign a fiscally
responsible highway bill next Wednesday in the State of Illinois.
For More Information Contact:
South Tampa Bay Area Transportation Partnerships
PO Box 155, Bradenton, FL 34206
Tel: 941-555-1212
FAX: 941-555-1212
Internet: Info@TransportationSTARTUPS.com
