[Code of Federal Regulations]
[Title 49, Volume 1]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR80.13]

[Page 712]
 
                        TITLE 49--TRANSPORTATION
 
          Subtitle A--Office of the Secretary of Transportation
 
PART 80_CREDIT ASSISTANCE FOR SURFACE TRANSPORTATION PROJECTS--Table of Contents
 
Sec.  80.13  Threshold criteria.

    (a) To be eligible to receive Federal credit assistance under this 
part, a project shall meet the following five threshold criteria:
    (1) The project shall be consistent with the State transportation 
plan, if located in a metropolitan area shall be included in that area's 
metropolitan transportation plan, and shall appear in an approved State 
transportation improvement program before the DOT and the project 
sponsor execute a term sheet or credit agreement that results in the 
obligation of funds;
    (2) The State, local servicer, or other entity undertaking the 
project shall submit a project application to the Secretary of 
Transportation;
    (3) A project shall have eligible project costs that are reasonably 
anticipated to equal or exceed the lesser of $100 million or 50 percent 
of the amount of Federal-aid highway funds apportioned for the most 
recently completed fiscal year to the State in which the project is 
located (in the case of a project principally involving the installation 
of Intelligent Transportation Systems (ITS), eligible project costs 
shall be reasonably anticipated to equal or exceed $30 million);
    (4) Project financing shall be repayable, in whole or in part, from 
tolls, user fees or other dedicated revenue sources; and
    (5) In the case of a project that is undertaken by an entity that is 
not a State or local government or an agency or instrumentality of a 
State or local government, the project that the entity is undertaking 
shall be included in the State transportation plan and an approved State 
Transportation Improvement Program as provided in paragraph (a)(1) of 
this section.
    (b) With respect to paragraph (a)(3) of this section, for a project 
located in more than one State, the minimum cost threshold size shall be 
the lesser of $100 million or 50 percent of the amount of Federal-aid 
highway funds apportioned for the most recently completed fiscal year to 
the participating State that receives the least amount of such funds.
    (c) With respect to paragraph (a)(4) of this section, the Secretary 
may accept general obligation pledges or general corporate promissory 
pledges and will determine the acceptability of other pledges and forms 
of collateral as dedicated revenue sources on a case-by-case basis. The 
Secretary shall not accept a pledge of Federal funds, regardless of 
source, as security for the TIFIA credit instrument.