transit · Federal Transit Administration · Published 1998-12-10 · Effective 1999-01-11 · 63 FR 68366
Document
Document number
98-32897
Federal Register citation
63 FR 68366
CFR reference
49 CFR 639
Type
Rule
Action
Final rule
Category
transit
Sub-agency
Federal Transit Administration
Publication date
1998-12-10
Effective date
1999-01-11
DOT docket
Docket No. FTA-98-4407
Abstract
This final rule implements the Transportation Equity Act for the 21st Century, Public Law 105-178 (TEA-21), which allows all Federal Transit Administration (FTA) capital grant funds to be used for leasing facilities and equipment if a lease is more cost effective than purchase or construction. Before the enactment of TEA-21, recipients were permitted to lease assets only with funds received under 49 U.S.C. 5307. This rule amends FTA's leasing regulation to extend this option to all FTA funds, to the extent a recipient meets all other regulatory requirements.