CSHB 329(TRA) Summary

• Establishes the Transportation Infrastructure Fund as a dedicated constitutional fund receiving revenue from motor fuel taxes and vehicle registration fees after July 1, 2011.

• Directs Commissioner of Revenue to manage the fund as an endowment with a goal of at least 6 percent real rate of return and requires annual reports to the legislature on fund performance.

• Allocates appropriations from the fund to transportation projects with caps: 80% roads/surface transportation, 25% aviation, 25% Alaska marine highway system, 20% harbor facilities, 20% community transportation/public transit, and 15% pedestrian/trails/bike paths.

• Creates a 12-member Transportation Infrastructure Fund Advisory Council with legislative chairs, transportation department representatives, and four public members appointed by the governor to recommend project funding.

• Bill effectiveness contingent on voter approval of a constitutional amendment establishing the transportation infrastructure fund before July 1, 2011.