Incentivizing Value Capture for Greener Transportation Act
Sponsored By: Representative DeSaulnier, Mark [D-CA-10]
Introduced
Summary
Creates a federal value capture program to help states and cities turn the increase in land and development value around transit into funding for public transportation and affordable transit-oriented development. The program pairs grants with technical help and performance rules to boost transit capacity, ridership, and lower emissions and congestion.
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- Families and small businesses: Encourages more affordable housing near transit defined as housing that costs no more than 30% of a family’s income, and affordable commercial space for small or disadvantaged businesses at below-market rent.
- State and local governments and planners: Offers technical assistance grants to design value capture tools and requires applicants to show how grants will increase transit capacity, ridership, and reduce CO2 emissions, vehicle miles traveled, and congestion. Grants carry maintenance-of-effort conditions and a statutory waiver for hardship or disaster.
- Workers and contractors: Construction paid by grants must follow Davis-Bacon prevailing wage rules and the Secretary can revoke funds for noncompliance.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New federal grants for transit and housing
If enacted, the Department of Transportation would create a new grant and technical‑assistance program to help States and local governments develop value‑capture funding for public transit and transit‑oriented development. Applicants would have to explain how funds would increase transit capacity and ridership and reduce CO2, vehicle miles traveled, and congestion. Grantees must keep spending at or above the average of the two fiscal years before enactment (with a waiver for severe hardship), pay Davis‑Bacon prevailing wages on construction, and evaluate results within three years. The Secretary would publish a catalog of state and local value‑capture examples within 15 months and issue voluntary best practices by October 1 of the fiscal year beginning two years after enactment, and could withhold or revoke funds for noncompliance.
Sponsors & CoSponsors
Sponsor
DeSaulnier, Mark [D-CA-10]
CA • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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