Financial District: State and Local Coffers Taking Major Hits

ARRA Bonds — two new types of transportation bonds, Build

America Bonds (BABs) and Recovery Zone Bonds (RZBs), that are provided for by the American Recovery and Reinvestment Act of 2009;

Federal credit assistance — direct loans, loan guarantees or lines of credit for transportation infrastructure projects provided through the Transportation Infrastructure Finance and Innovation Act (TIFIA) loan program;

State Infrastructure Banks (SIBs) — revolving loan funds to finance highway and transit projects;

Congestion or cordon pricing — fees charged to motorists for road use during times of peak demand or for entry into a congested area during some portion of the day, respectively;

Public-private partnerships (PPPs) — contractual agreements between a public agency and a private sector entity to collaborate on a transportation project;

Vehicle miles traveled (VMT) fees — fees charged directly to drivers for each mile traveled, in replacement of a traditional motor fuel tax; and

Other sources such as impact fees, container fees and traffic camera fees.


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