Senate Bill 358 Summary

• Allocates a portion of state sales tax collected on gasoline and special fuel to counties, cities, and towns for road and street projects, effective July 1, 2012.

• Calculates the taxable amount as 7% of sales tax on the portion of retail price (including federal and state fuel taxes) that exceeds $3 per gallon.

• Distributes funds quarterly to counties based on their proportionate share of total county road and city/town street mileage statewide.

• Requires counties to suballocate funds to cities and towns within the county based on their respective street mileage.

• Restricts use of distributed funds to the same purposes permitted for the local road and street account.