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Highway Formula Modernization Act of 2023

Source: Congress.gov  ·  773 words in original text
This bill requires the Secretary of Transportation to study how the federal government distributes highway funding to states. The Secretary must examine whether the current method fairly distributes money based on what states and their residents pay into highway funds. The Secretary must then recommend a new way to distribute these funds.
- The Secretary of Transportation - State departments of transportation - Local governments and metropolitan planning organizations (groups that plan transportation projects for cities and regions) - Congress
- The Secretary must complete a highway formula modernization study within 2 years of the bill becoming law and assess whether the current funding distribution method is fair based on tax payments from highway users and general treasury contributions (Sec. 2(a) and 2(b)). - The Secretary must consider specific factors from existing law when doing this assessment, including data availability and accuracy needed for calculating how funds are divided (Sec. 2(c)). - The Secretary must work with state transportation departments and local government representatives to develop recommendations for a new funding distribution method, including which factors to use and how much weight to give each factor (Sec. 2(d)). - The Secretary must submit yearly progress reports to Congress while conducting the study and a final report with recommendations when the study is complete (Sec. 2(e)).
If this bill becomes law, the federal government will study and potentially change how it divides highway funding among states. This could result in some states receiving more federal highway money and others receiving less, depending on what the new formula recommends.
- Highway Trust Fund: A fund that collects taxes from highway users and receives contributions from the general treasury - Apportionment: The method of dividing and distributing funds
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.