Announced in 2024, the Fund will provide $3 billion per year for public transit and active transportation infrastructure, beginning in 2026-27. The Fund will provide stable and predictable funding to address long-term transit goals and aims to: increase the use of public transit and active transportation relative to car travel, increase the housing supply and affordability as part of complete, transit-oriented communities, help mitigate climate change and improve climate resilience, improve public transit and active transportation options for all, especially Indigenous People and equity-deserving groups.

In February 2026, the infrastructure minister confirmed a $5 billion cut to the program, leaving the future of the fund uncertain.