- Appropriates $10 million in vehicle sales tax revenue in fiscal year 2008-2009, and an additional $30 million each subsequent fiscal year, to the State Non-Federal Aid Highway Fund [Sec. 2 (B)].
- Transfers income tax revenues from the general fund to the Education Improvement Fund to offset sales tax revenues not received as a result of State Non-Federal Aid Highway Fund appropriations [Sec. 2 (C)].
- Transfers $10 million in non-state tax revenues from the State Highway Fund to the State Highway Account of the Transportation Infrastructure Bank in fiscal year 2008-2009, and transfers half of the State Non-Federal Aid Highway Fund appropriations to the State Highway Account each subsequent fiscal year [Sec. 2 (D)].
- Requires toll projects, such as toll roads or bridges, to cease all toll charges after repaying the costs of the project [Sec. 3 (B)].
- Establishes the effective date of this Act as July 1, 2008 (Sec. 6).