To amend titles 23, 45, and 49, United States Code, to encourage the use of private-public partnerships in transportation.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Lincoln Legacy Infrastructure Development Act''.
SEC. 2. FINDINGS.
Congress finds that-- (1) the American Association of State Highway and Transportation Officials estimates current highway, bridge, public transit, and freight and passenger rail funding needs are approximately $225,000,000,000 to $340,000,000,000 per year through 2055, while current spending is less than $90,000,000,000 per year; (2) according to the organization known as Transportation for America, 69,223 bridges, or 11.5 percent of all highway bridges in the United States, are considered structurally deficient; (3) according to the Congressional Research Service, for fiscal year 2010, the Highway Trust Fund, the primary funding source for highways and transit, received approximately $35,000,000,000 in revenue but spent approximately $50,000,000,000; (4) Congress transferred $34,500,000,000 in general revenue to the Highway Trust Fund during the period of fiscal years 2008 to 2010 to keep the Highway Trust Fund solvent; (5) Highway Trust Fund outlays during the period of fiscal years 2011 to 2021 are expected to exceed revenues and interest by approximately $120,000,000,000; (6) the Congressional Budget Office estimates that the Highway Trust Fund will be unable to meet obligations of the Highway Trust Fund sometime during fiscal year 2012; (7) the United States Chamber of Commerce estimates that further...