Urban Mass Transportation Authorization Act of 1987

[AI summary unavailable — showing source text] Urban Mass Transportation Authorization Act of 1987 - Amends the Urban Mass Transportation Act of 1964 to authorize appropriations for FY 1986 through 1990 for substitute mass transportation projects under the Federal-aid highway program. Sets forth availability guidelines for Federal grants for: (1) rail modernization; (2) fixed guideway systems; and (3) bus service facilities. Permits block grants to be made to implement an urban mass transportation program of projects in whole or in part. Excludes certain advertising and concession revenues from consideration as a revenue source for purposes of the Federal block grant program for urban mass transportation. Requires Federal block grant recipients to submit an annual report to the Secretary of Transportation regarding revenues derived from the sale of advertising and concessions relating to the operation of a public mass transportation system. Declares that apportionments for small urbanized areas shall be made available to the Governor for expenditure in such areas. Revises the guidelines under which a State may transfer apportioned funds among small urbanized areas. Requires that block grant funds be apportioned by the tenth day…