Transportation industry

A U.S. House of Representatives subcommittee is scheduled to hold a hearing Tuesday about the role that innovative financing tools, such as tax-increment financing, federal loans and public-private partnerships, can play in funding intercity passenger rail projects.

Triple-A-rated Utah will offer investors a safe bet this week with $217 million of general obligation bonds for the Beehive State's growing highway system.

A New York State appellate court's upholding of the Metropolitan Transportation Authority's payroll mobility tax is a credit positive for the transit agency, Moody's Investors Service said Monday.

California State Treasurer Bill Lockyer on Wednesday released a report on the Foothill/Eastern Transportation Corridor Agency that found the toll agency could eventually default on its bond payment obligations without a proposed $2.21 billion restructuring of the agency's debt.

Pennsylvania Turnpike Commission CEO Mark Compton named three persons to a committee to review contracting practices in the aftermath of a pay-to-play scandal.

Rhode Island lawmakers on Tuesday voted for a 10-cent toll on the Sakonnet River Bridge until April while a state agency considers an alternative funding plan.

The Illinois State Toll Highway Authority plans to enter the market with a roughly $425 million fixed-rate refunding of toll-backed revenue bonds in a deal scaled down due to rising interest rates.

North Dakota and other rural states led the Reason Foundation's performance rankings of state highway systems based on 2009 data, while more populous states including New Jersey, California and New York found themselves toward the bottom of the ratings.

Anthony Foxx was sworn in as U.S. Secretary of Transportation Tuesday morning in a private ceremony at the department's headquarters.

Texas lawmakers will consider highway funding measures when the second special session of the year reconvenes July 9.

Kansas City, Mo., plans a roughly $200 million refunding that will allow the city to streamline the Kansas City International Airport's debt under a new master bond ordinance.

Virginia Gov. Bob McDonnell has released a draft report showing 10 candidate and 10 conceptual transportation projects that could move forward as public-private partnerships in the commonwealth.

The Grand Parkway Transportation Corp. is preparing to price $2.86 billion of toll revenue bonds to extend a planned 184-mile loop around the Houston metro area.

A $920 million capital improvements program going to Tulsa, Okla., voters in November focuses on street repairs.

The Puerto Rico government has approved new revenue for the Puerto Rico Highways and Transportation Authority.

A New York State appellate court has reversed a lower court and upheld the constitutionality of the Metropolitan Transportation Authority's payroll mobility tax.

Secretary of Transportation Ray LaHood said farewell Thursday and gave praise to his department after serving there for over four years.

Virginia is continuing its push to be the leading public-private partnership state, opening a bustling travel corridor to private sector involvement a day after a major infrastructure firm announced it has moved its U.S. headquarters to the commonwealth.

New York's MTA, envisioning "significant revenue" for its capital program, plans to vacate its midtown Manhattan headquarters by the end of 2014.

Fearing sketchy revenue projections, Gov. Deval Patrick has threatened to veto a transportation spending bill that cleared the Massachusetts legislature.