Bill > HR4643

This bill establishes a Business Uninterrupted Monetary Program (BUMP) Fund requirement for large transportation infrastructure projects receiving federal grants, specifically targeting fixed guideway capital investment projects and federal-aid highway projects with total costs of $50 million or more. The BUMP Fund is designed to provide financial assistance to local businesses and nonprofit organizations negatively impacted by transportation construction projects, helping them cover expenses such as utilities, insurance, rent, mortgage, payroll, and loss of income during project-related disruptions. Project sponsors will be required to contribute a percentage of their non-federal project share (up to 10% for transit projects and 25% for highway projects) into the fund, with the exact amount determined by local sponsors to reflect estimated damages. The Secretary of Transportation has discretion to waive or modify fund requirements under certain circumstances, and unused funds can be redirected to project enhancements, other eligible projects, or returned to the grant recipient. Additionally, the bill includes a competitive grant program to provide relief to covered entities for projects that began construction on or after October 1, 2018, and were still under construction as of June 1, 2023, with individual grants not exceeding $10 million. The goal is to mitigate the economic impact of large infrastructure projects on local businesses and communities.

Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/house-bill/4643/all-info