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Conference Proceedings 33: Transportation Finance: Meeting the Funding Challenge Today, Shaping Policies for Tomorrow (2005)
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Transportation Research Board. "TRACK 1." Conference Proceedings 33: Transportation Finance: Meeting the Funding Challenge Today, Shaping Policies for Tomorrow. Washington, DC: The National Academies Press, 2005.

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Transportation Finance Meeting the Funding Challenge Today, Shaping Policies for Tomorrow (1-1)
TRANSPORTATION RESEARCH BOARD 2005 EXECUTIVE COMMITTEE* (2-6)
CONFERENCE PROGRAM (7-7)
ACKNOWLEDGMENTS (8-8)
Contents (9-12)
COMMON THEMES AND KEY OBSERVATIONS (13-13)
Underlying Framework and Trends (14-14)
Legislative (15-15)
RECOMMENDATIONS REGARDING FUTURE RESEARCH (16-16)
ASSESSMENT OF THE CONFERENCE AND RECOMMENDATIONS FOR FUTURE EVENTS (17-18)
PRECONFERENCE WORKSHOPS (19-19)
Track 3: Structures, Institutions, and Partnerships to Deliver More Projects Faster and Cheaper (20-20)
Track 4: New Transportation Initiatives and Demands on Financing (21-22)
General Sessions (23-24)
WELCOME AND CHARGE (25-25)
Track 2: Tools and Techniques to Deliver More Projects Faster (26-26)
Track 4: New Transportation Initiatives and Demands on Financing (27-27)
LUNCHEON SESSION Transportation Challenges to the Nation (28-29)
TRACK 2: TOOLS AND TECHNIQUES TO DELIVER MORE PROJECTS FASTER (30-30)
TRACK 4: NEW TRANSPORTATION INITIATIVES AND DEMANDS ON FINANCING (31-31)
LEVERAGING FEDERAL FUNDING (32-32)
COMMENTS (33-33)
TRACK 2: TOOLS AND TECHNIQUES TO DELIVER MORE PROJECTS FASTER (34-34)
TRACK 4: NEW TRANSPORTATION INITIATIVES AND DEMANDS ON FINANCING (35-35)
GENERAL SESSION 4 Transportation Finance in the Context of Reauthorization and Beyond Administration's Perspective (36-36)
REAUTHORIZATION AND FINANCING (37-37)
OPEN DISCUSSION (38-38)
ARTBA'S PERSPECTIVE (39-39)
FOCUSING ON THE SYSTEM (40-40)
Track Reports (41-42)
What Could Be: Looking Ahead to Alternative Fuels, Taxes, and Other Revenue Sources (43-43)
Considering Transportation Finance Approaches Used by Other Governments (44-44)
SESSION 2: EXAMINING CURRENT AND POTENTIAL USE OF TAX INCENTIVES IN PROMOTING SURFACE TRANSPORTATION INVESTMENT (45-45)
Tax Credit Bonds to Finance Infrastructure: Theory and Practice (46-46)
Discussion (47-47)
Making Room for Maintenance: The Intelligent Renewal of Our Existing Transportation System (48-48)
Opportunities for Value Capture and Value Pricing (49-49)
Discussion (50-50)
Integrating Innovate Financing into the Transportation Planning Process (51-51)
SESSION 2: INNOVATIVE FINANCING TO ADVANCE STATE AND LOCAL TRANSPORTATION PROGRAMS AND PROJECTS (52-52)
Discussion (53-53)
Freight Infrastructure Bank Proposal (54-54)
Communicating Innovative Finance to the Public (55-55)
Discussion (56-56)
Setting the Stage: Public-Sector Perspective on Roles and Risk Sharing (57-57)
Las Vegas Monorail (58-58)
Virginia's Privatization Initiative: Outcome-Based Highway Asset Management (59-59)
New Mexico (60-60)
Discussion (61-61)
Financing Intermodal Connections: Bringing Down the Funding Silos for the I-95 Rail Study (62-62)
Short-Line Rail: Private Investments in the Marine Transportation System (63-63)
Discussion (64-64)
Discussion (65-66)
TRACK 1 (67-67)
TRACK 4 (68-70)
Resource Papers (71-72)
WHAT SHOULD BE THE GOAL OF REAUTHORIZATION? (73-73)
HAS TEA-21 MET THE GOALS OF MAINTAINING SYSTEM CONDITION AND PERFORMANCE AND IMPROVING SAFETY? (74-74)
WHAT FUNDING LEVEL WILL REAUTHORIZATION NEED TO ESTABLISH TO MAINTAIN CONDITION AND PERFORMANCE? (75-75)
Enhancements to the Fuel Excise Tax (76-76)
Tax Credit Bonds (77-77)
Tolling (78-79)
CONCLUSION (80-80)
INNOVATIVE FINANCE FRAMEWORK (81-81)
IMPEDIMENTS TO PROJECT DELIVERY (82-82)
ENVIRONMENTAL CLEARANCE AND STATUTORY REQUIREMENTS (83-83)
POLITICAL AND INSTITUTIONAL FACTORS (84-85)
EXPEDITING PROJECT DELIVERY: A CHALLENGE TO THE TRANSPORTATION FINANCE COMMUNITY (86-86)
What Is This Strategy Intended to Accomplish? (87-87)
What Is This Strategy Intended to Accomplish? (88-88)
Where Is This Strategy Leading Us? (89-89)
State Departments of Transportation Caught in the Middle (90-90)
Local Resistance to Innovative Finance Initiatives (91-91)
BACKGROUND (92-92)
TECHNOLOGY (93-94)
IMPLICATIONS (95-96)
Acronyms (97-97)
Conference Steering Committee Member Biographies (98-103)
Participants (104-111)

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SYNTHESIS Conference Themes C onference participants recognized the unique · The increasing emphasis on linking beneficia- opportunity--and challenge--presented by the ries--both direct users and other beneficiaries--to multiple upcoming transportation program funding and on recognition of a general willingness to reauthorizations: for surface transportation, the suc- pay more for the right purposes and under the right cessor to the Transportation Equity Act for the 21st circumstances. Century (TEA-21); for aviation, the successor to the Wendell H. Ford Aviation Investment and Reform Act Conference participants also addressed at length the for the 21st Century; and for Amtrak, the successor to future of the gas tax, with a common theme that the cur- the Amtrak Reform and Accountability Act of 1997. rent structure is unfair or unsustainable or both. The Conference participants also recognized that these concept of transparency is ever important and gets to the reauthorization initiatives would take place under the concepts of intergovernmentalism and the link between shadow of a strained fiscal situation at federal, state, payers and users or beneficiaries. and local levels of government and in an environment In thinking abut how to structure transportation charged by the intense focus on addressing security- funding for the future, conference participants recog- related needs. With this base, conference participants nized the need to bring the dialogue to a higher-level utilized the four tracks of the conference program to framework, one that integrates important underlying flesh out some key issues. Following is a review of the principles. Such principles include the traditional central issues addressed in each of the four tracks. ones of · Equity, TRACK 1 · Predictability and stability, · Adequacy of the collection function and structure, The four sessions of Track 1 focused on near-future · Ease of collection administration, funding options and potential new funding paradigms · Efficiency, and for transportation at the national and local levels. These · Transparency. sessions focused on In addition to these more traditional principles, con- · The various ways that states and localities are ference presenters and participants focused new atten- taking the initiative, resulting in more players in fund- tion on the importance of having consistency with other ing and financing and the need for new creativity and public policies, such as those related to energy conser- programmatic approaches and vation and environmental protection. 55