Signed by Governor Martin O'Malley

Vote Smart's Synopsis:

Vote to pass a bill that extends the tax rate on gasoline and increases the tax rate on gasoline annually, effective July 1, 2013.

Highlights:

• Extends the $0.235 per gallon tax rate on gasoline, whereas existing law required the tax rate to be reduced to $0.185 per gallon beginning July 1, 2013 (Sec. 1).

• Requires the tax rate on gasoline to be increased annually by the amount that equals the product of multiplying the active tax rate on gasoline and the percentage growth in the urban Consumer Price Index (Sec. 1).

• Limits the amount the tax rate on gasoline may increase to no more than 8 percent above the tax rate for the previous year (Sec. 1).

• Requires any remaining revenue from the gasoline tax after appropriations to be credited to the Department of Transportation to be deposited into the Transportation Trust Fund for the purpose of payment for the principal of and interest on transportation bonds as they become due and payable (Sec. 3).

• Authorizes the transfer of any part of the Transportation Trust Fund to other state funds if certain circumstances are met including, but not limited to, a 3/5 approval of the legislature, or a declaration of a state of emergency by the governor (Sec. 3).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that extends the tax rate on gasoline and increases the tax rate on gasoline annually, effective July 1, 2013.

Highlights:

• Extends the $0.235 per gallon tax rate on gasoline, whereas existing law required the tax rate to be reduced to $0.185 per gallon beginning July 1, 2013 (Sec. 1).

• Requires the tax rate on gasoline to be increased annually by the amount that equals the product of multiplying the active tax rate on gasoline and the percentage growth in the urban Consumer Price Index (Sec. 1).

• Limits the amount the tax rate on gasoline may increase to no more than 8 percent above the tax rate for the previous year (Sec. 1).

• Requires any remaining revenue from the gasoline tax after appropriations to be credited to the Department of Transportation to be deposited into the Transportation Trust Fund for the purpose of payment for the principal of and interest on transportation bonds as they become due and payable (Sec. 3).

• Authorizes the transfer of any part of the Transportation Trust Fund to other state funds if certain circumstances are met including, but not limited to, a 3/5 approval of the legislature, or a declaration of a state of emergency by the governor (Sec. 3).

Full Bill Text