Skip to main content
Find a Lawyer

23 U.S.C. § 605 - U.S. Code - Unannotated Title 23. Highways § 605. Program administration

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Requirement.--The Secretary shall establish a uniform system to service the Federal credit instruments made available under the TIFIA program.

(b) Fees.--The Secretary may collect and spend fees, contingent on authority being provided in appropriations Acts, at a level that is sufficient to cover--

(1) the costs of services of expert firms retained pursuant to subsection (d); and

(2) all or a portion of the costs to the Federal Government of servicing the Federal credit instruments.

(c) Servicer.--

(1) In general.--The Secretary may appoint a financial entity to assist the Secretary in servicing the Federal credit instruments.

(2) Duties.--A servicer appointed under paragraph (1) shall act as the agent for the Secretary.

(3) Fee.--A servicer appointed under paragraph (1) shall receive a servicing fee, subject to approval by the Secretary.

(d) Assistance from expert firms.--The Secretary may retain the services of expert firms, including counsel, in the field of municipal and project finance to assist in the underwriting and servicing of Federal credit instruments.

(e) Expedited processing.--The Secretary shall implement procedures and measures to economize the time and cost involved in obtaining approval and the issuance of credit assistance under the TIFIA program.

(f)Assistance to small projects.--

(1)Reservation of funds.--Of the funds made available to carry out the TIFIA program for each fiscal year, and after the set aside under section 608(a)(6), not less than $2,000,000 shall be made available for the Secretary to use in lieu of fees collected under subsection (b) for projects under the TIFIA program having eligible project costs that are reasonably anticipated not to equal or exceed $75,000,000.

(2)Release of funds.--Any funds not used under paragraph (1) in a fiscal year shall be made available on October 1 of the following fiscal year to provide credit assistance to any project under the TIFIA program.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - 23 U.S.C. § 605 - U.S. Code - Unannotated Title 23. Highways § 605. Program administration - last updated January 01, 2024 | https://codes.findlaw.com/us/title-23-highways/23-usc-sect-605/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard