Public Transportation Facilities and Equipment Management System Law and Legal Definition

According to 23 CFR 500.603 [Title 23. Highways; Chapter I Federal Highway Administration, Department Of Transportation; Subchapter F Transportation Infrastructure Management; Part 500 Management And Monitoring Systems, Subpart F Public Transportaion Facilities And Equipment Management System], ‘public transportation facilities and equipment management system (PTMS)’ means “a systematic process that collects and analyzes information on the condition and cost of transit assets on a continual basis. It identifies needs as inputs to the metropolitan and statewide planning processes enabling decisionmakers to select cost-effective strategies for providing and maintaining assets in a serviceable condition.”

The term ‘transit assets’ referred to above means public transportation facilities (e.g., maintenance facilities, stations, terminals, transit related structures), equipment, and rolling stock.