A bill to amend title 23 of the United States Code to authorize the Secretary of Transportation to obligate the United States to pay from future year apportionments the Federal share of any highway on the Interstate System through the retirement of certain State bonds or other evidences of indebtedness used for construction of such highway.

Provides that in any case where the Secretary of Transportation approves any project which would begin or continue the construction of a highway on the Interstate System within a State, such approval shall, at the request of the State, be a contractual obligation of the United States to pay from the Highway Trust Fund such amounts as may be necessary to pay the Federal share of the complete construction of such highway.

Imposes specified requirements upon the States in order for the Secretary to approve any highway project.