Vote Smart's Synopsis:

Vote to pass a bill that changes provisions of the New Jersey Transportation Trust Fund Authority Act including a debt ceiling of $1.6 billion, which is to decrease by the amount of state funding in excess of $895,000,000 beginning July 1, 2006 to July 1, 2010. This act will also create an increase in the motor fuels tax payment to the Transportation Trust Fund Account to 10.5 cents per gallon with a minimum revenue of $483 million, a decrease in the state to county fund distribution earmarked for public highways from 15 percent to 10 percent, and an increase in the total highway appropriations from $30 million to $175 million. The Commissioner of Transportation is required to report the annual amount of proposed Transportation Trust Fund Account, which cannot exceed $1.6 billion by March 1 of every year through 2010, and the Authority must also limit the funds for major highway capacity expansion to no more than an average of 4 percent over five years of the total Annual Transportation Capital Program.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that changes provisions of the New Jersey Transportation Trust Fund Authority Act including a debt ceiling of $1.6 billion, which is to decrease by the amount of state funding in excess of $895,000,000 beginning July 1, 2006 to July 1, 2010. This act will also create an increase in the motor fuels tax payment to the Transportation Trust Fund Account to 10.5 cents per gallon with a minimum revenue of $483 million, a decrease in the state to county fund distribution earmarked for public highways from 15 percent to 10 percent, and an increase in the total highway appropriations from $30 million to $175 million. The Commissioner of Transportation is required to report the annual amount of proposed Transportation Trust Fund Account, which cannot exceed $1.6 billion by March 1 of every year through 2010, and the Authority must also limit the funds for major highway capacity expansion to no more than an average of 4 percent over five years of the total Annual Transportation Capital Program.

Full Bill Text