HB487 Summary

• Establishes the Alabama Road and Bridge Rehabilitation and Improvement Authority as a public corporation authorized to issue up to $2.4 billion in bonds ($1.2 billion for county/municipal projects and $1.2 billion for state projects).

• Creates additional excise taxes on gasoline and diesel fuel: 4 cents per gallon effective September 1, 2017; 2 additional cents effective September 1, 2019; and 3 additional cents effective September 1, 2024 (contingent on legislative approval regarding debt service sufficiency).

• Imposes additional annual registration fees of $100 for private passenger alternative fuel vehicles and $150 for commercial alternative fuel vehicles, effective January 1, 2018.

• Establishes two special funds (ATRIP-II Projects Special Fund and ALDOT Projects Special Fund) to receive pledged tax proceeds for bond debt service and road/bridge improvements, with net proceeds allocated 45.45% equally among all 67 counties and 54.55% based on county population ratios.

• Bonds are payable solely from additional fuel taxes and registration fees (not state general funds) with maximum 20-year maturity; requires county and municipal ATRIP-II projects to use approved contractors and comply with bidding and reporting requirements.