Announcements

FTA Announces Availability of $9.9 billion in FY 2024 Funding

Published on: March 3, 2024

FTA today announced that $9.9 billion in federal funding, part of the largest investment in public transit in U.S. history, is available to support public transportation in communities throughout the country. This is the latest round of funding made possible thanks to the Bipartisan Infrastructure Law. The partial-year Fiscal Year (FY) 2024 funding is detailed in apportionment tables that specify funding to states, urbanized areas, and Tribal governments based on statutory formulas.

The announcement reflects funding available for five months (October 1, 2023, to March 1, 2024) at FY 2023 levels while the federal government operates under a Continuing Resolution. The publishing of apportionment tables allows transit providers nationwide to move forward with applications for FY24 funds to support expanding and modernizing transit systems and operations.

This year, due to changes resulting from the 2020 Census, some areas will see changes to funding amounts due to new urbanized area boundaries, as well as changes in populations. The apportionments reflect changes occurring in areas that exceed or fall below the 50,000 population threshold for urban areas as well as other thresholds within the urban programs that determine whether funds are apportioned to the states or directly to urbanized areas.

Full-year formula funding will be available once Congress passes an FY24 appropriations bill. Once enacted, transit funding will be available at the levels proscribed by the Bipartisan Infrastructure Law to support transit in urban communities across the country and rural transit systems nationwide, allowing hundreds of transit agencies to buy new buses and railcars, improving reliability and transit service.

Links:
Apportionment Tables
2020 Census: Resources & Information
Press release