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ID H0260
Bill
Status
3/11/2015
Primary Sponsor
Transportation and Defense Committee
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AI Summary
Road Safety and Economic Development Act of 2015
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Increases motor fuel tax from 25¢ to 31¢ per gallon effective July 1, 2015, with provisions to reduce the tax by 1¢ for each $20 million appropriated to the highway distribution account through July 1, 2021.
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Establishes electric vehicle registration fee of $120 and hybrid vehicle registration fee of $65, deposited to the highway distribution account.
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Revises apportionment of highway distribution account to allocate 38% to local units of government, 57% to state highway account, and 5% to law enforcement account until reaching 150% of 2014 fiscal year distribution, then reallocates to 59.85% state highways and 40.15% local government.
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Modifies petroleum clean water trust fund transfer fee distribution: when fund balance reaches $35 million, redirects 70% of transfer fees to highway distribution account and 7% to state highway account until balance drops to $25 million, then reverts to previous distribution.
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Adds $20 million in annual transfers from general fund to highway distribution account when general fund receipts exceed previous year by 4% or more, with sunset provision on July 1, 2021.
Legislative Description
Amends and adds to existing law to revise provisions concerning the apportionment of the highway distribution account; to revise transfer fee provisions concerning certain revenue received by the petroleum clean water trust fund; to provide for the distribution of transfer fees and interest accruing to the petroleum clean water trust fund; to provide for an electric vehicle fee and to provide for a hybrid vehicle fee; to provide for certain transfers from the general fund to the highway distribution account upon the occurrence of certain conditions, to provide for appropriation and to provide a sunset provision; to revise provisions concerning tax on motor fuel, to provide for the reduction in tax on motor fuel upon the occurrence of certain conditions and to provide a sunset provision.
TRANSPORTATION
Last Action
U.C. to hold place on third reading calendar
4/10/2015