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The Fiscally Responsible Highway Funding Act of 2024 redistributes unobligated contract authority from the federal Transportation Infrastructure Finance and Innovation (TIFIA) credit assistance program to state departments of transportation for surface transportation projects. The bill makes $1.8 billion in prior TIFIA funding available to states immediately and directs the Secretary of Transportation to distribute 75 percent of any unobligated TIFIA funding remaining in fiscal years 2025 and 2026 to states based on their proportional share of federal highway apportionments. Distributed funds remain available through 2028–2029 and may be used for any eligible highway or surface transportation purpose.
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