U.S. Transportation Secretary Ray LaHood announced a combined $776 million for urban and rural transit providers in 45 states and the District of Columbia to help bring buses, bus facilities and related equipment into a state of good repair.

The money, which comes from the Federal Transit Administration's (FTA) new State of Good Repair discretionary grant program, will go to 152 projects.

The FTA estimates that more than 40 percent of the nation's buses are currently in poor to marginal condition. In June, the FTA released a report, The National State of Good Repair Assessment Study, which estimated that the cost of bringing the nation's rail and bus transit systems into a state of good repair is close to $78 billion. The report drew on data from 43 of the nation's rail and bus operators in both rural and urban areas.

The State of Good Repair money was made available in response to the needs cited in this study and reflects the FTA's commitment to strengthening and modernizing transportation across the nation. The program is designed to help transit providers deliver safer, more reliable rides, operate more efficiently and lower fuel costs.

FTA reviewed nearly 400 project applications representing $4.2 billion in funding requests from transit providers across the country. Projects include replacing aging buses with fuel-efficient hybrid vehicles, constructing new bus shelters and maintenance facilities and installing updated fare boxes and fleet tracking systems.

For a full list of the selected projects, click here.