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OGC-99-50 1 (1999-06-09)

handle is hein.gao/gaobablzo0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Office of the General Counsel B-282864 June 9, 1999 The Honorable John Mc Cain Chairman The Honorable Ernest F. Hollings Ranking Minority Member Committee on Commerce, Science, and Transportation United States Senate The Honorable Bud Shuster Chairman The Honorable James L. Oberstar Ranking Minority Member Committee on Transportation and Infrastructure House of Representatives Subject: Department of Transportation: Credit Assistance for Surface Transportation Projects Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by Department of Transportation (DOT), entitled Credit Assistance for Surface Transportation Projects (RIN: 2125-AE49). We received the rule on May 27, 1999. It was published in the Federal Register as a final rule on June 2, 1999. 64 Fed. Reg. 29742. The final rule implements the Transportation Infrastructure Finance and Innovation Act of 1998 (TIFIA) to provide credit assistance to surface transportation projects. The Act authorizes the Department to provide secured (direct) loans, lines of credit, and loan guarantees to public and private project sponsors of eligible surface transportation projects. Enclosed is our assessment of the DOT's compliance with the procedural steps required by section 801(a)(1)(B)(i) through (iv) of title 5 with respect to the rule. Our review indicates that DOT complied with the applicable requirements. On January 14, 1999, GAO issued a report entitled: SURFACE TRANSPORTATION: High Speed Rail Projects in the United States (GAO/RCED-99-44) which discussed the TIFIA program. GAO/OGC-99-50

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