There are terms and conditions attached to the funding as part of the bill. The funding could be spent based on the terms and conditions that the Minister deems appropriate. The minister has to communicate with provinces and territories, and the provincial and territorial governments must match the federal contribution. They have to allocate that funding within the jurisdiction of municipalities or regional transit agencies based on transit ridership, with flexibility for jurisdictions with federal public transit, or to allocate according to the needs; put funding towards transit operating shortfalls, transit capital, or housing; and provinces and territories must agree to accelerate their efforts to improve housing supply in collaboration with municipalities.
On May 5th, 2022. See this statement in context.