House Bill 362 - Transportation Funding Summary

• Increases the percentage of sales tax allocated to transportation from 1% to 4.5% of total sales tax revenues, continuously appropriated to the transportation expansion and congestion mitigation fund.

• Dedicates $80,000,000 annually from the 4.5% allocation to the Idaho Transportation Department for bonding purposes to fund large infrastructure projects on the state highway system.

• Directs any sales tax revenues exceeding $80,000,000 from the 4.5% allocation to local units of government for local highway projects, distributed according to percentages established in section 40-709 of Idaho Code.

• Authorizes local units of government to pool their allocated transportation funds for joint highway projects.

• Establishes legislative intent to provide long-term, sustainable transportation funding for both state and local transportation systems through the dedicated sales tax distribution.