The U.S. Department of Transportation announced today it will make available $473 million in road funds to states with pending transportation projects.
In a press release, U.S. Department of Transportation said the money comes from unspent earmarks from FY 2003-2006.
Effective today, state departments of transportation will have the ability to use their unspent earmarked highway funds, some of which are nearly 10 years old, on any eligible highway, transit, passenger rail, or port project.
The Detroit News reports Michigan has $15.8 million in 28 projects that hasn't been spent that the state can redirect.
"It will be up to Michigan how to decide to spend their money," LaHood said. State departments of transportation will have the ability to use their unspent earmarked highway money, some of which is nearly 10 years old, on any eligible highway, transit, passenger rail, or port project.
The Obama Administration wants the money spent soon. To use the funds, states must identify projects by October 1, and must obligate them by December 31, 2012.
