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ID H0312
Bill
Status
4/21/2015
Primary Sponsor
Ways and Means Committee
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AI Summary
House Bill 312 Summary
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Increases motor vehicle registration fees for light-duty vehicles, with 1-2 year old vehicles at $469.00, 3-6 year old vehicles at $365.00, and 7+ year old vehicles at $244.50 (effective July 1, 2015).
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Imposes new fees on electric vehicles ($140) and hybrid vehicles ($75.00) in addition to standard registration fees, with revenues distributed to highway accounts.
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Increases motor fuel tax from 25 cents to 32 cents per gallon, with the additional 7 cents distributed 60% to state highway account and 40% per section 40-709 provisions.
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Establishes Strategic Initiatives Program Fund to support transportation projects selected by Idaho's six districts based on safety, mobility, economic opportunity, bridge repair, and public rights-of-way criteria (effective through May 31, 2017).
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Modifies Budget Stabilization Fund to transfer 50% of excess general fund cash balances to the fund instead of limiting transfers to revenue growth above 4%, with a 10% fund balance cap maintained.
Legislative Description
Repeals, amends and adds to existing law to revise registration fees; to provide for additional registration fees; to provide a fee for electric and hybrid vehicles, to provide for the deposit of fees and to define terms; to revise the tax imposed on motor fuel; to revise provisions relating to the distribution of tax imposed on motor fuel; to provide for the Strategic Initiatives Program, to establish the Strategic Initiatives Program Fund, to provide for the deposit of certain moneys into the fund and to provide for use of moneys in the fund; to revise provisions relating to transfers of moneys into the Budget Stabilization Fund, to provide for the transfer of certain excess cash balances into the Budget Stabilization Fund and to remove provisions relating to the maximum fund balance; to provide for the Budget Stabilization Fund; and to revise a distribution provision.
TRANSPORTATION
Last Action
Section 7
4/21/2015