Moving Americans into the 21st Century
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TEA-21 - Transportation Equity Act for the 21st Century Moving Americans into the 21st Century |
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CORRIDOR & PROPERTY MANAGEMENT OPPORTUNITIES |
Program Purpose
To provide State and local governments more flexibility in acquiring and managing real property in support of transportation systems. [1301, 1303]
TEA-21 permits States to get credit toward the non-Federal match when State or locally owned lands are incorporated into a Federal project. This substantially expands prior law that already permitted matching credit for private property donations, and provides more flexible ways for State and local governments to preserve corridors. [1301]
TEA-21 allows State and local governments to retain income from the sale, use, or lease of property previously acquired with Federal funds, if the income is used on Title 23 eligible projects. [1303]
Funding
No additional Federal funding is provided by TEA-21. However, Sections 1301 and 1303 provide opportunities for State and local governments to leverage transportation investment through prudent and timely acquisition and management of real property.
September 14, 1998