Incentivizing Value Capture for Greener Transportation Act

This bill would allow the U.S. Secretary of Transportation to give grants to state and local governments to develop value capture mechanisms, which collect part of the increased economic value created by government investments to help pay for public transportation and affordable development near transit stations. To qualify, applicants must explain how the grant will increase transit ridership and reduce carbon emissions, vehicle miles traveled, and congestion, and must certify they will keep their own related spending at prior levels. Construction funded by the grants would have to pay local prevailing wages under the Davis-Bacon Act. The Secretary would also publish a report on existing value capture laws, share best practices, and set voluntary value capture standards.

Full text and official record on Congress.gov

Sponsors

• Mark DeSaulnier Democrat sponsor
• 0 cosponsors