Interstate Highway Resurfacing, Restoration, Rehabilitation, and Reconstruction Act of 1986

Interstate Highway Resurfacing, Restoration, Rehabilitation, and Reconstruction Act of 1986 - Amends the availability guidelines for apportionment of funds to the States for the Interstate Highway System to provide: (1) that such apportionments shall be available for expenditures in a State during the fiscal year succeeding the fiscal year for which such apportionments were earmarked (thus shortening the period in which such sums are available for obligation by a State); and (2) that apportionments which remain unobligated at the close of such succeeding fiscal year shall be made available to the States for rehabilitation or reconstruction projects on the Interstate System. Requires the Secretary of Transportation to set aside for such projects $300,000,000 before any apportionments are made for a fiscal year beginning after 1986.

Conditions the availability of such funds upon a determination by the Secretary that a State is willing and able to: (1) obligate such funds within an immediate one-year period; (2) apply the funds to a ready-to-commence project; and (3) begin construction within the 90-day period immediately following the obligation date of such funds.

Requires the Secretary to give priority consideration to projects: (1) costing more than $10,000,000; and (2) involving either high-volume traffic in large urban areas or high-volume truck traffic in rural areas.