A bill to amend title 23, United States Code, to modify a provision relating to the obligation and release of funds.

This bill modifies requirements that apply to the obligation and release of federal highway funds by states.

Under current law, any funds released by the final payment or a modification for a project must be credited to the same class of funds previously apportioned or allocated to the state for the project and are immediately available for obligation.

This bill permits the funds to be credited to a similar class of funds if the same class is no longer authorized.