TEA-21 - Transportation Equity Act for the 21st Century Moving Americans into the 21st Century
	Fact Sheet
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VALUE PRICING
Year	1997(ISTEA)	1998	1999	2000	2001	2002	2003
Authorization	0*	0	$7M	$11M	$11M	$11M	$11M

* ISTEA authorized $25 million in FY 1997 for the Program, but the National Highway System (NHS) Act redirected these funds to other uses.

Program Purpose

The objective of this program, formerly the Congestion Pricing Pilot program, is to encourage implementation and evaluation of value pricing pilot projects in order to promote economic efficiency in the use of highways and support congestion reduction, air quality, energy conservation, and transit productivity goals. [1216(a)]

Funding

Provides funding to support the costs of implementing value pricing projects included in up to 15 new State and local value pricing programs.

• Supports pre-implementation costs, including public participation costs and pre-project planning costs, for up to 3 years.

• Supports implementation projects for up to 3 years from the time a project is implemented.

Funds allocated to a State shall be available for obligation for three years after the year of authorization.

If the amount of program funds authorized but not allocated to the States totals more than $8 million at the end of a fiscal year, the excess amount shall be available for redistribution to all States for purposes of the Surface Transportation Program.

Establishes a Federal funding share of 80 percent for value pricing programs.

Program Features

Local pilot programs have the flexibility to encompass a variety of value pricing applications, including:

• areawide pricing

• pricing of multiple or single facilities or corridors

• single lane pricing

• implementation of other market-based strategies, such as area-wide Parking Cash-Out demonstrations

All 15 new State and local pricing programs may include projects involving tolls on the Interstate system.

State and local pricing programs may permit vehicles with fewer than two occupants to operate in high occupancy vehicle lanes as part of a value pricing project.

Pricing programs are required to consider potential adverse financial effects on low-income drivers, and, where appropriate, to identify measures to mitigate these adverse effects.

September 14, 1998