Because of a continuing demand for information concerning the financing of Federal-aid highways, the Federal Highway Administration (FHWA) prepared a report, "Financing Federal-Aid Highways," in January 1974 to describe the basic process involved. The report was modified and updated in July 1976, May 1979, October 1983, November 1987, and May 1992. These updates were prepared following enactment of new highway or surface transportation acts to reflect changes made by those acts.
Enactment of Public Law 105-178, the Transportation Equity Act for the 21st Century (TEA-21), has made it necessary to update the May 1992 version to incorporate the significant changes in financing procedures brought about by that act.
As with previous versions, this report follows the financial process from inception in an authorization act to payment from the Highway Trust Fund (HTF), and includes discussion of the congressional and Federal agency actions that occur throughout.
A glossary of terms used in this report can be found in Appendix A.
Electronic version of Publication No. FHWA-PL-99-015