23 U.S.C. § 156 — Proceeds from the sale or lease of real property
submitted 39 years ago by Pub. L. 100-17 to r/title-23-HIGHWAYS · 122 words · no verdicts yet
States must charge at least fair market value when they sell or lease federally funded highway property, with some exceptions the Secretary can grant. States must use their share of the income for eligible transportation projects.
Subject to section 142(f), a State* shall charge, at a minimum, fair market value for the sale, use, lease, or lease renewal (other than for utility use and occupancy or for a transportation project* eligible for assistance under this title) of real property acquired with Federal assistance made available from the Highway* Trust Fund (other than the Mass Transit Account).
The Secretary* may grant an exception to the requirement of subsection (a) for a social, environmental, or economic purpose.
The Federal share of net income from the revenues obtained by a State under subsection (a) shall be used by the State for projects eligible under this title.
Source credit: (Added Pub. L. 100–17, title I, § 126(a), Apr. 2, 1987, 101 Stat. 167; amended Pub. L. 102–240, title I, § 1027(f), Dec. 18, 1991, 105 Stat. 1967; Pub. L. 105–178, title I, § 1303(a), June 9, 1998, 112 Stat. 227.)
- 1987Enacted · Pub. L. 100-17 · 101 Stat. 167
- 1991Amended · Pub. L. 102-240 · 105 Stat. 1967
- 1998Amended · Pub. L. 105-178 · 112 Stat. 227
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-17 on 1987-04-02.
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