Toll Credit Marketplace Act of 2021

Hozzl · 2023-03-09T17:47:48Z

Explore the details of House Bill 2340 Toll Credit Marketplace Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Transportation and Public Works. Stay informed on legislative developments.

3/9/2023, 5:47 PM

Summary of Bill HR 2340

Bill 117 HR 2340, also known as the Toll Credit Marketplace Act of 2021, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to establish a marketplace for the exchange of toll credits between states. Toll credits are a form of currency that can be used by states to meet their obligations under federal transportation funding programs.

The bill aims to create a more efficient and transparent system for the exchange of toll credits, which will ultimately help states better manage their transportation funding. By establishing a marketplace for toll credits, states will be able to buy and sell these credits to meet their specific needs and priorities.

Additionally, the Toll Credit Marketplace Act of 2021 seeks to promote innovation and collaboration among states in the transportation sector. By allowing states to exchange toll credits, this bill will encourage states to work together to address common transportation challenges and improve the overall efficiency of the transportation system. Overall, the Toll Credit Marketplace Act of 2021 is a bipartisan effort to streamline the exchange of toll credits between states and promote collaboration in the transportation sector. If passed, this bill has the potential to improve the efficiency and effectiveness of transportation funding programs across the country.

Congressional Summary of HR 2340

Toll Credit Marketplace Act of 2021

This bill directs the Department of Transportation (DOT) to establish and implement a toll credit exchange pilot program to

identify the extent of the demand to purchase toll credits,
identify the cash price of toll credits through bilateral transactions between states,
analyze the impact of the purchase or sale of toll credits on transportation expenditures,
test the feasibility of expanding the pilot program to allow all states to participate on a permanent basis, and
identify any other repercussions of the toll credit exchange.

In carrying out the pilot program, DOT must provide that an originating state may transfer or sell to a recipient state a credit not previously used by the originating state. DOT must also make available a public website on which originating states must post the amount of toll credits that are available for sale or transfer to a recipient state.

DOT may terminate the pilot program or the participation of any state in the pilot program if the program is not serving a public benefit or it is not cost effective.

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Current Status of Bill HR 2340

Bill HR 2340 is currently in the status of Bill Introduced since April 1, 2021. Bill HR 2340 was introduced during Congress 117 and was introduced to the House on April 1, 2021. Bill HR 2340's most recent activity was Referred to the Subcommittee on Highways and Transit. as of April 2, 2021