Title: Appropriates Funds for Transportation Projects
Vote Smart's Synopsis:
Vote to pass a bill that appropriates funds for transportation projects.
Highlights:
Appropriates $30 million or the amount of excess reserves for fiscal year 2016, whichever is less, to the local road and bridge matching grant fund (Sec. 3).
Appropriates funds to the state highway fund, including the following funds (Sec. 3):
Any remaining excess reserves for fiscal year 2016; and
All excess reserves for fiscal year 2017.
Increases the gasoline tax from $0.18 per gallon to the product of $0.18 and a factor determined by the Consumer Price Index (CPI) and the National Highway Construction Cost Index (NHCCI), effective June 30, 2016 (Sec. 21).
Increases the cigarette tax on cigarettes weighing up to 3 pounds per 1,000 cigarettes from $0.05 to $0.10 per individual cigarette (Sec. 29).
Increases the cigarette tax on cigarettes weighing more than 3 pounds per 1,000 cigarettes from $0.07 to $0.13 per individual cigarette (Sec. 29).
Authorizes a municipality with a population of more than 20,000 people to adopt an ordinance that establishes a motor vehicle license excise tax or wheel tax for road construction projects (Secs. 15 & 16).
Transfers $20.7 million from the Tax Amnesty Fund into a Pension Stabilization Fund (Sec. 31).
Transfers $42 million from the Tax Amnesty Fund into the Regional Cities Development Fund (Sec. 31).