Today, FTA issued a final rule requiring FTA grantees to develop management plans for their public transportation assets, including vehicles, facilities, equipment, and other infrastructure. The Transit Asset Management (TAM) final rule asks transit agencies to develop a strategic approach to maintain and improve capital assets. Every FTA-supported transit provider will be required to inventory and assess the conditions of their assets, develop priorities for investment based on the inventory, and establish performance targets. The rule, established under MAP-21 legislation, is intended to close the gap on aging and poorly maintained transit assets.
Along with the final rule, FTA released two proposed Transit Asset Management guidebooks that detail the methods for transit agencies in measuring and reporting conditions of guideways and administrative, maintenance, and passenger facilities to the National Transit Database. The guidebooks were released for a 60-day public comment period.
FTA will host a multi-part webinar series between Tuesday, July 26-Thursday, August 18 to provide technical assistance to the transit industry on how to implement the rule.