FIRST REGULAR SESSION
SENATE JOINT RESOLUTION NO. 12
92ND GENERAL ASSEMBLY
INTRODUCED BY SENATORS MATHEWSON AND GOODE.
Read 1st time January 8, 2003, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
0667S.05I
JOINT RESOLUTION
Submitting to the qualified voters of Missouri, an amendment to article IV of the Constitution of Missouri, by adding thereto one new section relating to transportation funding, with a contingent termination date.
That at the next general election to be held in the state of Missouri, on Tuesday next following the first Monday in November, 2004, or at a special election to be called by the governor for that purpose, there is hereby submitted to the qualified voters of this state, for adoption or rejection, the following amendment to article IV of the Constitution of the state of Missouri:
Section A.Article IV, Constitution of Missouri, is amended by adding thereto one new section, to be known as section 30(d), to read as follows:
Section 30(d).1.Beginning the first calendar quarter following the adoption of this section, an additional tax of four cents per gallon shall be levied upon fuel used for propelling motor vehicles upon the highways of this state.The proceeds of the tax are subject to article III, section 36 of this constitution and shall be used exclusively for the payment of principal and interest on state road bonds in an amount not exceeding two billion two hundred fifty million dollars as authorized by the general assembly prior to June 30, 2006.
2.The tax imposed by this section shall terminate whenever the commissioner of administration determines that the proceeds generated from the tax imposed by subsection 1 of this section are sufficient to retire the state road bonds, or December 31, 2026, whichever is earlier.