A bill to amend section 144 of title 23, United States Code, to give States the discretion of using a portion of their bridge replacement funds to replace certain bridges or ferryboat operations.

Amends Federal law concerning highway bridge replacement and rehabilitation to authorize the States to utilize bridge construction funds to replace: (1) low-water crossings; (2) any bridge destroyed prior to 1960; (3) any ferry which was in existence on January 1, 1984; or (4) any road bridge rendered obsolete due to certain Federal flood control or channelization projects.

Limits the Federal share of such replacements to 80 percent of such construction cost. Makes such authorization applicable to funds apportioned to the States for FY 1988 and thereafter.