S. 1167: Transportation Asset Management Simplification Act

This bill, titled the Transportation Asset Management Simplification Act, aims to amend certain provisions related to transportation asset management under U.S. law. Specifically, it proposes updates to how states must manage and report on their transportation assets. Here are the key points of the bill:

Changes to Compliance and Reporting

• The bill changes the frequency of the required asset management plan submissions from annually to every four years. This aligns the submission cycle with the recertification process of the asset management programs.
• When a state submits its asset management information, it is required to include recent data and a certification of compliance for previous years.

Compliance Determination

• The federal Secretary of Transportation would determine if a state is in compliance with the new regulations. This determination remains in effect until the next scheduled review.
• If a state is found noncompliant, it will be given a written notice detailing necessary actions for compliance, along with at least 90 days to address the issues without facing penalties during that period.
• States may request an extension for the period to correct compliance issues, which could also extend the suspension of penalties.

Implications for States

States will have an opportunity to rectify any deficiencies noted by the Secretary of Transportation before facing any penalties. The aim is to create a more flexible and less frequent reporting requirement, promoting efficiency in how states manage and report on their transportation assets.

Overall Purpose

The overarching goal of the bill is to simplify and improve the processes surrounding transportation asset management, making it less burdensome for states while ensuring that they still maintain the accountability and quality necessary for managing these public assets.

Relevant Companies

• FLR (Fluor Corporation): As a contractor involved in transportation infrastructure projects, changes in asset management regulations may impact their project bidding processes and timelines.
• PNR (Pentair plc): Involved in water and transportation infrastructure, this company's compliance and project planning might align more with new asset management timelines.