01640749

Monograph

http://www.trb.org/Main/Blurbs/176092.aspx

Most states issue debt to help meet transportation infrastructure investment needs. States use debt to leverage available resources and accelerate investments when compared with funding projects on a pay-as-you-go basis. Debt does not provide states with new or additional revenues, but uses existing revenues to advance projects. The purpose of this synthesis is to update and extend the 2009 synthesis study, NCHRP Synthesis 395: Debt Finance Practices for Surface Transportation, by providing information obtained from relevant literature and an updated survey of state DOTs. This study found that states use a variety of debt mechanisms and tools to finance transportation infrastructure investment. However, the amount of debt and frequency of issuance vary substantially across states. In most states, provisions included in constitutions or statutes (or combinations of the two) govern the level and form of debt issuance. As well, many states have formal policies that govern debt issuance and management. The study found that the advent of increasingly flexible finance tools, including those offered or facilitated by the federal government, is an important development.

Project 20-05, Topic 47-07

English

87p

2017

NCHRP Synthesis of Highway Practice

9780309390071

Digital/other

Figures

Debt; Financing; Infrastructure; Investments; Revenues; State departments of transportation; State laws

Administration and Management; Finance; Highways

TRIS, TRB, ATRI

Jul 6 2017 10:45AM