| SJR 012 | Increases the motor fuel tax by four cents to retire state road bonds authorized by the General Assembly |
| Sponsor: | Mathewson | Co-Sponsor(s) | ||
| LR Number: | 0667S.05I | Fiscal Note: | 0667-05 | |
| Committee: | Transportation | |||
| Last Action: | 03/18/03 - Hearing Conducted S Transportation Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | Voter Approval | |||
SJR 12 - This proposed constitutional amendment raises the
gas tax an additional four cents. The proceeds from the
additional gas tax are subject to appropriation by the General
Assembly and shall be used exclusively for the payment of
principal and interest on state road bonds in an amount not to
exceed $2.25 billion as authorized by the general assembly prior
to June 30,2006. The tax will terminate whenever the
Commissioner of Administration determines that the proceeds of
the tax are sufficient to retire the road bonds or December 31,
2026, whichever is earlier.
STEPHEN WITTE