Incentivizing Value Capture for Greener Transportation Act

Incentivizing Value Capture for Greener Transportation Act

This bill authorizes the Department of Transportation (DOT) to provide technical assistance grants to states and local governments to (1) develop more state and local value capture mechanisms for long-term funding that promote mobility, public transportation, and affordable transit-oriented development; (2) improve public transportation and mobility; and (3) develop strategic partnerships that create greater self-help capacity that leads to greater long term and robust investments in public transportation, mobility, inclusive economic development, and affordable transit-oriented development.

DOT must

• establish voluntary and consensus-based value capture standards, policies, and best practices for state and local value capture mechanisms that promote greater investments in public transportation and affordable transit-oriented development;
• make available to the public a report cataloging examples of state and local laws and policies that provide for value capture and value sharing that promote such investments; and
• identify and disseminate examples of best practices where states and local governments have adopted value capture and value sharing mechanisms that have successfully provided for such investments.