Senate Bill 2859 Summary

• Imposes an additional 8% tax on motor fuel based on the statewide average wholesale price, calculated annually by the Commissioner of Revenue and added to existing excise taxes, with collection suspended if annual revenue reaches $365 million.

• Establishes additional vehicle registration fees effective July 1, 2016, ranging from $3.00 for motorcycles to $60.00 for vehicles over 10,000 pounds and semitrailers, with revenue deposited into the Transportation Infrastructure Repair, Renovation and Maintenance Fund.

• Creates the Transportation Infrastructure Repair, Renovation and Maintenance Fund to receive motor fuel tax and registration fee revenue, with allocations to state highways (78.5%), local road programs (7.5%), bridge rehabilitation (5.2%), state aid roads (4.2%), multi-modal transportation (3%), tourism signage (0.8%), air carrier incentives (0.5%), and highway-railroad grade crossing safety (0.3%).

• Establishes the Local System Road Program with an advisory committee and requires counties to levy up to one mill ad valorem tax to participate in receiving state funding for local road improvements.

• Creates an Air Carrier Incentive Program through the Mississippi Development Authority to match airport authority funds for attracting and expanding airline services.