NC H786

Modifies Secretary of Transportation authority to transfer highway trust fund allocations to include projects for congestion mitigation, in addition to projects ready to be let.

Establishes two methods for allocating congestion mitigation funds: based on county population ratio to total state population, or based on statewide ranking using average daily traffic volume divided by design capacity multiplied by accident rate ratios.

Changes highway trust fund allocation formula from 25% Intrastate System miles/50% population/25% equal regional share to 50% vehicle miles driven/50% congestion reduction need based on volume-to-capacity ratios and accident rates.

Removes requirement that 90% of Intrastate System projects be completed before applying the new allocation formula.

Repeals provisions related to regional distribution adjustments, minimum funding floors, and special allocations previously in the highway trust fund statute.