Just over 10 years after the creation of the Italian National Transport Fund (FNT) and the subsequent start of a new process to improve the efficiency of local public transport, a critical analysis of the regulatory instruments introduced in Italy for this purpose and the related consequences on the equity in the distribution of resources between regions was developed in this paper, highlighting the need for substantial changes. Unfortunately, as emerges from the bibliographic analysis, current knowledge does not allow us to have tools and models to appropriately quantify the real financial needs of each region in the sector. Therefore, some aspects are identified that research will need to investigate further to support a correct distribution of the FNT’s resources. © 2024, CIFI Collegio Ingegneri Ferroviari Italiani. All rights reserved.