Federal Public Transportation Act of 1982

Federal Public Transportation Act of 1982 - Amends the Urban Mass Transportation Act of 1964 to authorize appropriations for FY 1983 through 1986 for: (1) Federal financial assistance for grants or loans to States and local public agencies; (2) the urban mass transit grant program; (3) the formula grant program for areas other than urbanized areas; (4) research, development, and demonstration projects; (5) grants for managerial, technical and professional training programs; (6) grants for research and training in urban transportation problems; and (7) grants for establishment and operation of transportation centers at nonprofit institutions of higher learning.

Requires the Secretary of Transportation to notify the House Committee on Public Works and Transportation and the Senate Committee on Banking, Housing, and Urban Affairs of the proposed issuance of a letter of intent to obligate financial assistance to States and local public agencies. Grants priority funding to programs covered by letters of intent issued prior to enactment of this Act.

Sets forth an apportionment formula for grants to assist the payment of construction and operating costs of public mass transportation systems for urbanized areas and for areas other than urbanized areas. Limits such assistance to the amount available for such areas in fiscal year 1982, except under certain circumstances. Sets forth provisions for compliance by grant recipients before any such assistance is made available.

Makes funds apportioned for areas other than urbanized areas available for obligation for a period of two years (currently three years).