A bill to amend title 23 of the United States Code in order to provide a program for the completion of the National System of Interstate and Defense Highways.

Summary

Provides that the States may submit to the Secretary of Commerce a program for the completion of the Interstate System, including a proposal for the issuance of bonds or other obligations of such State. Authorizes the Secretary to approve such programs and to enter into a contractual arrangement on behalf of the United States to pay, over a twenty-year period, the principal and interest on such bonds or other obligations. Directs that no State shall receive less than one-half of one percent of the aggregate payments to all States for the liquidation of obligations incurred as a result of the completion. Requires the Secretary to make an annual report to Congress with respect to all activities pursuant to this Act. Authorizes the appropriation of such amounts as are necessary to make payments on financial obligations assumed by the United States pursuant to this Act.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 28 October 1975

  Open at official source

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