TEA-21 - Transportation Equity Act for the 21st Century Moving Americans into the 21st Century |
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TEA-21 Home | DOT Home | Fact Sheet Index |
MAGNETIC LEVITATION TRANSPORTATION TECHNOLOGY
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Year |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
Contract Authority |
0 |
0 |
$15M |
$20M |
$25M |
0 |
0 |
Authorization
|
0 |
0 |
0 |
$200M |
$200M |
$250M |
$300M |
Program Purpose
The magnetic levitation transportation technology deployment program encourages the development and construction of an operating transportation system employing magnetic levitation capable of safe use by the public at a speed in excess of 240 miles per hour. [1218]
Funding Features
Contract authority out of the Highway Account of the Highway Trust Fund is provided for fiscal years 1999-2001 totaling $60 million.
An authorization for an appropriation out of the Highway Account of the HTF is provided for an additional $950 million over fiscal years 2000-2003. These funds would have to be appropriated by the Congress before they would be available for expenditure.
An eligible maglev project would also be eligible for other forms of financial assistance provided in Title 23, United States Code, and TEA-21, including loans, loan guarantees, and lines of credit. [1218]
The Federal share of full project costs (the total capital costs of a maglev project, including fixed facilities and stations, vehicles and equipment) cannot be more than 2/3, except that States may use STP and CMAQ funds to pay all or a portion of their share of full project costs of an eligible project, without the requirement for non-Federal funds.
There is no matching requirement for low-speed maglev research and development grants.
Eligible Use of Funds
The Secretary is authorized to provide financial assistance to States (or authorities designated by one or more States) to fund
Qualification Requirements
To be eligible, projects have to
Selection Criteria
Statutory project selection criteria (e.g. national importance of the project, project contribution to reducing congestion, non-Federal financial support, job creation, etc.) are included to guide the Secretarys decision in determining which project to fund for final design and implementation.
September 14, 1998