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H 4549 - Funding Road Repair and Maintenance - South Carolina Key Vote

Stage Details

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Title: Funding Road Repair and Maintenance

Vote Smart's Synopsis:

Vote to pass a bill that shifts the revenue accumulated by the vehicle sales tax from the general fund to fund road, highway, and bridge maintenance.

Highlights:

- 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).

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