[Code of Federal Regulations]
[Title 23, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 23CFR500.110]

[Page 135]
 
                           TITLE 23--HIGHWAYS
 
 CHAPTER I--FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
 
PART 500--MANAGEMENT AND MONITORING SYSTEMS--Table of Contents
 
                      Subpart A--Management Systems
 
Sec. 500.110  PTMS.

    An effective PTMS for public transportation facilities (e.g., 
maintenance facilities, stations, terminals, transit related 
structures), equipment, and rolling stock is a systematic process that 
collects and analyzes information on the condition and cost of transit 
assets on a continual basis, identifies needs, and enables decision 
makers to select cost-effective strategies for providing and maintaining 
transit assets in serviceable condition. The PTMS should cover public 
transportation systems operated by the State, local jurisdictions, 
public transportation agencies and authorities, and private (for profit 
and non-profit) transit operators receiving funds under the Federal 
Transit Act and include, at a minimum:
    (a) Development of transit asset condition measures and standards;
    (b) An inventory of the transit assets including age, condition, 
remaining useful life, and replacement cost; and
    (c) Identification, evaluation, and implementation of appropriate 
strategies and projects.