Federal legislation has created several innovative financing tools that facilitate PPPs. These include federal-aid fund management tools, which provide states with greater flexibility in how they manage federal highway funds; federal debt financing tools such as Grant Anticipation Revenue Vehicles (GARVEEs) and private activity bonds; and federal credit assistance through the Transportation Infrastructure Finance and Innovation Act (TIFIA), state infrastructure banks or Section 129 loans.90 These tools can reduce financing costs for private entities to be more competitive with tax-exempt state and municipal financing rates.91 (See Glossary, Figures 3 through 5, Table 2 and pages 5 to 7 for more on innovative financing methods.)