The Interstate Ferry Fairness Act amends federal transportation law to allow privately owned and majority-privately owned ferry services and terminals to qualify for federal funding through the Ferry Boat Program, which was previously limited to publicly owned operations. The bill specifically targets ferries operating between two neighboring states, requiring the Transportation Secretary to determine that these private ferries provide substantial public benefits or meet important transportation needs before they become eligible for federal construction or purchase assistance. The legislation permits these private ferries to charge fares to cover operating costs plus a reasonable profit margin, with any excess revenue dedicated to maintenance and operations. The changes take effect one year after the bill is enacted, allowing private ferry operators to compete for federal transportation funding on equal footing with public entities while maintaining oversight of fare structures and ensuring public benefit.
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