The Fixing America’s Surface Transportation (FAST) Act, Pub. L. No. 114-94, reauthorizes surface transportation programs for five years, providing $305 billion over fiscal years 2016-20. The FAST Act continues nearly all of the highway and transit formula programs of MAP-21, and focuses much of the increase in highway funding on two new freight programs, one discretionary and one formula-based, and a bus and bus facilities discretionary grant program. The text of the law can be found on the GPO website.
The Fixing America’s Surface Transportation (FAST) Act provides funding opportunities for local governments:
- Converts the Surface Transportation Program (STP) into a block grant program and increases the suballocation on the basis of population over the course of the bill.
- Creates a new Nationally Significant Freight and Highway Projects (NSFHP) discretionary grant program for large freight highway projects.
- Reestablishes the bus and bus facilities discretionary grant program.
- Incentivizes private investment in public transportation projects by establishing an expedited pilot program for certain P3 fixed guideway projects under the Capital Investment Grant program.
- Establishes a formula freight program.