MPOs use a TIP to identify transportation projects and strategies they will pursue over the next four years. These projects reflect the investment priorities detailed in the MTP. TIPs list the immediate program of investments that, once implemented, will go toward achieving the performance targets established by the MPO and documented in the MTP. In short, a TIP is a region's means of allocating its transportation resources among the various capital, management, and operating investment needs of the area, based on a clear set of short-term transportation priorities prepared through a performance-driven process. All projects receiving Federal funding must be in the TIP.
Under Federal law, TIPs must follow these rules:
Cover at least four years of investment.
Be updated at least every four years.
Remain fiscally constrained so that projects are only included if their full funding can reasonably be anticipated.
In air quality nonattainment and maintenance areas the projects in the first two years of the TIP are limited to those with available or committed funding.
Conform with the STIP for air quality in nonattainment and maintenance areas.
Report on anticipated progress in meeting performance targets.
Include projects for which Federal funds were obligated in the prior year.
Be approved by the MPO and the governor.
Be incorporated, directly or by reference and without change, into the STIP.