Title 23 — HighwaysRelease 119-73
§608 Funding
Title 23 › Chapter CHAPTER 6— - INFRASTRUCTURE FINANCE › § 608
Summary
It explains how money for the TIFIA credit program must be handled each year. The Treasury must give the Secretary the yearly spending and borrowing authority right away. If the estimated subsidy cost is changed, the increase or decrease goes to the Treasury’s general fund under section 504(f) of the Congressional Budget Act of 1974. No more than 10% of yearly TIFIA funds can be kept for rural projects, and any of that set-aside not used by June 1 can be used for other projects. The Secretary may use up to 15% of TIFIA funds for projects listed in section 601(a)(12)(E). For projects in section 601(a)(12)(G), the Secretary may use up to 15% of amounts from the Surface Transportation Reauthorization Act of 2021 each year, and for fiscal years 2022 through 2026 may use up to 15% of unobligated carryover balances as of October 1, 2021. TIFIA funds stay available until they are spent. The Secretary may spend up to $10,000,000 each year for 2022 through 2026 to run the program. When the Secretary signs a term sheet for a TIFIA credit, the United States becomes contractually obliged to fund that credit. Funds for a fiscal year can be obligated starting October 1 of that year.
Full Legal Text
Title 23, §608
Highways — Source: USLM XML via OLRC
(a)(1)Spending and borrowing authority for a fiscal year to enter into Federal credit instruments shall be promptly apportioned to the Secretary on a fiscal-year basis.
(2)If the subsidy cost of a Federal credit instrument is reestimated, the cost increase or decrease of the reestimate shall be borne by, or benefit, the general fund of the Treasury, consistent with section 504(f) of the Congressional Budget Act of 1974 (2 U.S.C. 661c(f)).
(3)(A)Of the total amount of funds made available to carry out the TIFIA program for each fiscal year, not more than 10 percent shall be set aside for rural infrastructure projects or rural projects funds.
(B)Any amounts set aside under subparagraph (A) that remain unobligated by June 1 of the fiscal year for which the amounts were set aside shall be available for obligation by the Secretary on projects other than rural infrastructure projects or rural projects funds.
(4)(A)For each fiscal year, the Secretary may use to carry out projects described in section 601(a)(12)(E) not more than 15 percent of the amounts made available to carry out the TIFIA program for that fiscal year.
(B)The Secretary may use to carry out projects described in section 601(a)(12)(G)—
(i)for each fiscal year, not more than 15 percent of the amounts made available to carry out the TIFIA program under the Surface Transportation Reauthorization Act of 2021 for that fiscal year; and
(ii)for the period of fiscal years 2022 through 2026, not more than 15 percent of the unobligated carryover balances (as of October 1, 2021).
(5)Amounts made available to carry out the TIFIA program shall remain available until expended.
(6)Of the amounts made available to carry out the TIFIA program, the Secretary may use not more than $10,000,000 for each of fiscal years 2022 through 2026 for the administration of the TIFIA program.
(b)(1)Notwithstanding any other provision of law, execution of a term sheet by the Secretary of a Federal credit instrument that uses amounts made available under the TIFIA program shall impose on the United States a contractual obligation to fund the Federal credit investment.
(2)Amounts made available to carry out the TIFIA program for a fiscal year shall be available for obligation on October 1 of the fiscal year.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
The Surface Transportation Reauthorization Act of 2021, referred to in subsec. (a)(4)(B)(i), is Pub. L. 117–58, div. A, § 10001, Nov. 15, 2021, 135 Stat. 443. For complete classification of this Act to the Code, see
Short Title
of 2021 Amendment note set out under section 101 of this title and Tables.
Amendments
2021—Subsec. (a)(4), (5). Pub. L. 117–58, § 12001(i)(1)(A), (B), added par. (4) and redesignated former par. (4) as (5). Former par. (5) redesignated (6). Subsec. (a)(6). Pub. L. 117–58, § 12001(i)(1)(A), (C), redesignated par. (5) as (6), struck it out, and added a new par. (6). Prior to amendment, text read as follows: “Of the amounts made available to carry out the TIFIA program, the Secretary may use not more than $6,875,000 for fiscal year 2016, $7,081,000 for fiscal year 2017, $7,559,000 for fiscal year 2018, $8,195,000 for fiscal year 2019, and $8,441,000 for fiscal year 2020 for the administration of the TIFIA program.” 2015—Pub. L. 114–94, § 2001(g)(1), substituted “the TIFIA program” for “this chapter” wherever appearing. Subsec. (a)(2). Pub. L. 114–94, § 2001(g)(2)(A), inserted “of” after “504(f)”. Subsec. (a)(3)(A), (B). Pub. L. 114–94, § 2001(g)(2)(B), inserted “or rural projects funds” after “rural infrastructure projects”. Subsec. (a)(4). Pub. L. 114–94, § 2001(g)(2)(C), redesignated par. (5) as (4) and struck out former par. (4) which related to redistribution of authorized funding. Subsec. (a)(5). Pub. L. 114–94, § 2001(g)(2)(D), added par. (5). Former par. (5) redesignated (4). Subsec. (a)(6). Pub. L. 114–94, § 2001(g)(2)(C), struck out par. (6). Text read as follows: “Of the amounts made available to carry out this chapter, the Secretary may use not more than 0.50 percent for each fiscal year for the administration of this chapter.” 2012—Pub. L. 112–141 amended section generally. Prior to amendment, section related to funding for fiscal years 2005 through 2009 and contract authority. 2005—Pub. L. 109–59, § 1602(d), renumbered section 188 of this title as this section. Pub. L. 109–59, § 1601(g), reenacted section catchline without change and amended text generally, substituting provisions relating to funding for fiscal years 2005 through 2009 and contract authority, consisting of subsecs. (a) and (b), for provisions relating to funding for fiscal years 1999 through 2004 and for the period of Oct. 1, 2004, through
July 30, 2005, contract authority, and limitations on credit amounts, consisting of subsecs. (a) to (c). Subsec. (a)(1). Pub. L. 109–59, § 1602(b)(5), substituted “this chapter” for “this subchapter”. Subsec. (a)(1)(G). Pub. L. 109–40, § 4(a)(10)(A), added subpar. (G) and struck out former subpar. (G) which read as follows: “$106,849,340 for the period of
October 1, 2004, through
July 27, 2005.” Pub. L. 109–37, § 4(a)(10)(A), added subpar. (G) and struck out former subpar. (G) which read as follows: “$105,300,000 for the period of
October 1, 2004, through
July 21, 2005.” Pub. L. 109–35, § 4(a)(10)(A), added subpar. (G) and struck out former subpar. (G) which read as follows: “$104,000,000 for the period of
October 1, 2004, through
July 19, 2005.” Pub. L. 109–20, § 4(a)(10)(A), added subpar. (G) and struck out former subpar. (G) which read as follows: “$97,500,000 for the period of
October 1, 2004, through
June 30, 2005.” Pub. L. 109–14, § 4(a)(10)(A), added subpar. (G) and struck out former subpar. (G) which read as follows: “$86,666,667 for the period of
October 1, 2004, through
May 31, 2005.” Subsec. (a)(2). Pub. L. 109–40, § 4(a)(10)(B), substituted “$1,660,000 for the period of
October 1, 2004, through
July 30, 2005” for “$1,643,836 for the period of
October 1, 2004, through
July 27, 2005”. Pub. L. 109–37, § 4(a)(10)(B), substituted “$1,643,836 for the period of
October 1, 2004, through
July 27, 2005” for “$1,620,000 for the period of
October 1, 2004, through
July 21, 2005”. Pub. L. 109–35, § 4(a)(10)(B), substituted “$1,620,000 for the period of
October 1, 2004, through
July 21, 2005” for “$1,600,000 for the period of
October 1, 2004, through
July 19, 2005”. Pub. L. 109–20, § 4(a)(10)(B), substituted “$1,600,000 for the period of
October 1, 2004, through
July 19, 2005” for “$1,500,000 for the period of
October 1, 2004, through
June 30, 2005”. Pub. L. 109–14, § 4(a)(10)(B), substituted “$1,500,000 for the period of
October 1, 2004, through
June 30, 2005” for “$1,333,333 for the period of
October 1, 2004, through
May 31, 2005”. Subsec. (a)(3). Pub. L. 109–59, § 1602(b)(5), substituted “administration of this chapter” for “administration of this subchapter”. Subsec. (b)(1). Pub. L. 109–59, § 1602(b)(5), substituted “this chapter” for “this subchapter”. Subsec. (c). Pub. L. 109–40, § 4(a)(10)(C), substituted “$2,158,000,000” for “$2,136,986,800” in item relating to fiscal year 2005 in table. Pub. L. 109–37, § 4(a)(10)(C), substituted “$2,136,986,800” for “$2,106,000,000” in item relating to fiscal year 2005 in table. Pub. L. 109–35, § 4(a)(10)(C), substituted “$2,106,000,000” for “$2,080,000,000” in item relating to fiscal year 2005 in table. Pub. L. 109–20, § 4(a)(10)(C), substituted “$2,080,000,000” for “$1,950,000,000” in item relating to fiscal year 2005 in table. Pub. L. 109–14, § 4(a)(10)(C), substituted “$1,950,000,000” for “$1,733,333,333” in item relating to fiscal year 2005 in table. 2004—Subsec. (a)(1)(F). Pub. L. 108–280, § 4(a)(10)(A), added subpar. (F) and struck out former subpar. (F) which read as follows: “$116,666,667 for the period of
October 1, 2003, through
July 31, 2004.” Pub. L. 108–263, § 4(a)(10)(A), added subpar. (F) and struck out former subpar. (F) which read as follows: “$105,000,000 for the period of
October 1, 2003, through
June 30, 2004.” Pub. L. 108–224, § 4(a)(10)(A), added subpar. (F) and struck out former subpar. (F) which read as follows: “$81,666,666 for the period of
October 1, 2003, through
April 30, 2004.” Pub. L. 108–202, § 5(a)(10)(A), added subpar. (F) and struck out former subpar. (F) which read as follows: “$58,333,333 for the period of
October 1, 2003, through
February 29, 2004.” Subsec. (a)(1)(G). Pub. L. 108–310, § 5(a)(10)(A), added subpar. (G). Subsec. (a)(2). Pub. L. 108–310, § 5(a)(10)(B), inserted “and $1,333,333 for the period of
October 1, 2004, through
May 31, 2005” before period at end. Pub. L. 108–280, § 4(a)(10)(B), struck out “2003 and $1,666,667 for the period of
October 1, 2003, through July 31,” before “2004.” Pub. L. 108–263, § 4(a)(10)(B), substituted “$1,666,667 for the period of
October 1, 2003, through
July 31, 2004” for “$1,500,000 for the period of
October 1, 2003, through
June 30, 2004”. Pub. L. 108–224, § 4(a)(10)(B), substituted “$1,500,000 for the period of
October 1, 2003, through
June 30, 2004” for “$1,166,667 for the period of
October 1, 2003, through
April 30, 2004”. Pub. L. 108–202, § 5(a)(10)(B), substituted “$1,166,667 for the period of
October 1, 2003, through
April 30, 2004” for “$833,333 for the period of
October 1, 2003, through
February 29, 2004”. Subsec. (c). Pub. L. 108–310, § 5(a)(10)(C), substituted “2005” for “2004” in introductory provisions and inserted item in table relating to fiscal year 2005. Pub. L. 108–280, § 4(a)(10)(C), substituted “$2,600,000,000” for “$2,166,666,667” in item relating to fiscal year 2004 in table. Pub. L. 108–263, § 4(a)(10)(C), substituted “$2,166,666,667” for “$1,950,000,000” in item relating to fiscal year 2004 in table. Pub. L. 108–224, § 4(a)(10)(C), substituted “$1,950,000,000” for “$1,516,666,667” in item relating to fiscal year 2004 in table. Pub. L. 108–202, § 5(a)(10)(C), substituted “$1,516,666,667” for “$1,083,333,333” in item relating to fiscal year 2004 in table. 2003—Subsec. (a)(1)(F). Pub. L. 108–88, § 5(a)(10)(A), added subpar. (F). Subsec. (a)(2). Pub. L. 108–88, § 5(a)(10)(B), inserted “and $833,333 for the period of
October 1, 2003, through
February 29, 2004” after “2003”. Subsec. (c). Pub. L. 108–88, § 5(a)(10)(C), substituted “2004” for “2003” and inserted item in table relating to fiscal year 2004. 1998—Subsec. (a)(2). Pub. L. 105–178, § 1503(c)(1), as added by Pub. L. 105–206, § 9007(a), substituted “1999” for “1998”. Subsec. (c). Pub. L. 105–178, § 1503(c)(2), as added by Pub. L. 105–206, § 9007(a), substituted “1999” for “1998” in introductory provisions, and substituted table for former table which read as follows: “Fiscal year:Maximum amount of credit: 1998$1,200,000,000 1999$1,200,000,000 2000$1,800,000,000 2001$1,800,000,000 2002$2,300,000,000 2003$2,300,000,000.”
Statutory Notes and Related Subsidiaries
Effective Date
of 2021 AmendmentAmendment by Pub. L. 117–58 effective Oct. 1, 2021, see section 10003 of Pub. L. 117–58, set out as a note under section 101 of this title.
Effective Date
of 2015 AmendmentAmendment by Pub. L. 114–94 effective Oct. 1, 2015, see section 1003 of Pub. L. 114–94, set out as a note under section 5313 of Title 5, Government Organization and Employees.
Effective Date
of 2012 AmendmentAmendment by Pub. L. 112–141 effective Oct. 1, 2012, see section 3(a) of Pub. L. 112–141, set out as an Effective and Termination Dates of 2012 Amendment note under section 101 of this title.
Effective Date
of 1998 AmendmentTitle IX of Pub. L. 105–206 effective simultaneously with enactment of Pub. L. 105–178 and to be treated as included in Pub. L. 105–178 at time of enactment, and provisions of Pub. L. 105–178, as in effect on day before July 22, 1998, that are amended by title IX of Pub. L. 105–206 to be treated as not enacted, see section 9016 of Pub. L. 105–206, set out as a note under section 101 of this title.
Reference
Citations & Metadata
Citation
23 U.S.C. § 608
Title 23 — Highways
Last Updated
Apr 6, 2026
Release point: 119-73