What is the difference between the Transportation Trust Fund and the Transportation Trust Fund Authority (TTFA)?
A. The Transportation Trust Fund is also referred to as the Special Transportation Fund or the Transportation Capital Program. It is the project list that is submitted to the Legislature each year by the Commissioner of Transportation on March 1 and is approved in the Appropriation Act by June 30 of each year. The project list is the spending or contract authority that allows the New Jersey Department of Transportation (NJDOT) and New Jersey Transit Corporation to advance capital projects up to a specified limit. The Transportation Trust Fund Authority (TTFA) is an independent agency that actually finances the cash disbursements to contractors as they occur for Transportation Trust Fund projects. The TTFA uses appropriated revenues and bond proceeds to finance the disbursements. The TTFA is a financing agency only with no involvement in the selection of capital projects.
Related Questions
- Is it possible for the constitutionally dedicated revenues to be appropriated for a purpose other than the Transportation Trust Fund Authority?
- What percentage of the annual Transportation Trust Fund Capital Program is currently being spent on Authority debt service?
- What is the difference between the Transportation Trust Fund and the Transportation Trust Fund Authority (TTFA)?
