H.R. 8719: Shared Micromobility Investment Act

This bill, known as the Shared Micromobility Investment Act, aims to enable funding for shared micromobility projects through certain federal transportation programs. Specifically, it seeks to revise existing laws to ensure that investments in services such as bikesharing and shared-scooter systems qualify for federal financial assistance.

Key Provisions of the Bill

• Inclusion in Transportation Programs: The bill proposes to amend Title 23 and Title 49 of the United States Code to make shared micromobility projects eligible for funding under the Surface Transportation Block Grant Program and the Carbon Reduction Program.
• Surface Transportation Block Grant Program: The amendment specifies that shared micromobility projects, including bikesharing and shared-scooter systems, are recognized as valid projects that can receive funds. This could help local governments and organizations finance the development and maintenance of these services.
• Carbon Reduction Program: The bill adds shared micromobility projects as eligible categories for funding, which is intended to support initiatives aimed at reducing carbon emissions and promoting more sustainable transportation options.
• Local and Regional Project Assistance: The legislation also modifies provisions related to local and regional project assistance to explicitly include shared micromobility projects, further broadening potential funding opportunities for local initiatives in these areas.

Overall, the bill seeks to support and promote the growth of shared micromobility services, potentially making these options more accessible and financially viable for communities across the United States.

Relevant Companies

• LYFT - Lyft operates a bikesharing and scooter-sharing service in many urban areas, and increased funding for shared micromobility could expand its service offerings or enhance its existing infrastructure.
• UBER - Uber has investments in various micromobility solutions, including electric scooters and bicycles, which may benefit from enhanced funding opportunities under this legislation.
• NIU - As a manufacturer of electric scooters and bikes, NIU could see increased demand for its products if cities successfully implement more shared micromobility solutions funded by this bill.