MO SB540

Motor fuel tax increases from 17 cents to 18.5 cents per gallon after December 31, 2015, with diesel fuel taxed at 20.5 cents per gallon beginning January 1, 2016

Compressed and liquefied natural gas taxes phase in over time: 5 cents per gallon equivalent until December 31, 2019, then 11 cents through December 31, 2024, and 17 cents thereafter

Creates the "Public-Private Partnership Authority Act" allowing MoDOT to enter agreements with private entities for Interstate 70 construction, reconstruction, and maintenance projects

Establishes a three-member "Building Missouri's Future Board" appointed by the governor to approve public-private partnership contracts, with any highway tolling agreements requiring General Assembly approval by concurrent resolution

Partnership contracts may last up to 75 years and allow private entities to collect user fees (tolls), with projects owned by the state remaining exempt from state and local taxation