Toll or transportation development credits are a federal transportation funding tool used to meet federal funding matching requirements. State credits are accrued when capital investments are made in federally approved tolled facilities including toll roads and bridges.
Details about transportation development credits:
- A financing tool approved by the Federal Highway Administration (FHWA) that allows states to use federal obligation authority without the requirement of providing matching dollars.
- Credits are earned when the state, a toll authority or a private entity funds a capital transportation investment with toll revenues earned on existing toll facilities, excluding revenues needed for debt service, returns to investors or the operation and maintenance of toll facilities.
- In Texas, 75 percent of credits are allocated to the metropolitan planning organization (MPO) in whose region they were earned and 25 percent are allocated on a competitive statewide basis.
- The most recent transportation development credits balances are found in the annual reports of TxDOT's Unified Transportation Program (UTP).
- The Texas Transportation Commission adopted transportation development credits program rules.
- The Texas Transportation Institute issued a technical memorandum on the Use of Federal Toll Credits and Transportation Development Credits.