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SCS/SBs 915, 710 & 907 - This act raises various fees to fund transportation projects and imposes a 5-year moratorium on the closing of state maintenance sheds.
MOTOR FUEL TAX - The act repeals the gas tax sunset clause and increases the tax by 6 cents.
SALES TAX - The act raises the general sales tax by 3/8 percent. Twenty percent of the revenue derived from the 3/8 sales tax shall be credited to the state transportation fund for multimodal purposes. The remainder of the sales tax would be credited to general revenue to replace moneys diverted from other agencies and the loss of motor vehicle sales tax revenues which currently go to the general revenue fund.
AGENCY DIVERSION - The act eliminates revenues that currently go to other agencies from the state highways and transportation department fund. The Highway Patrol and the Division of Motor Carrier and Railroad Safety will continue to receive funding from this fund. This section will take effect the first fiscal year following voter approval of the act.
MOTOR VEHICLE SALES TAX - Under current law, half of the sales tax on motor vehicles goes to fund transportation projects and the other half is deposited in the general revenue fund. This act diverts the portion going to general revenue to the state road fund.
REFERENDUM - This act must be submitted to a vote of the people on the first Tuesday of August 2002. If approved this act will become effective on January 1, 2003. Additional revenues not subject to Hancock restrictions. This act also requires another election in 2012 to determine whether voters want the new taxes to continue. If not, the rates will return to the level existing on January 1, 2002.