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2004 SESSION
SB 357 Motor fuels tax; increased, revenue deposited in Transportation Authorities of Commonwealth.
Introduced by: Charles J. Colgan | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Transportation authorities of the Commonwealth. Creates a transportation authority for each of the nine current construction districts. The transportation authorities shall be funded from a seven cent increase in the fuels tax on gasoline, diesel fuel, and alternative fuels. Under the bill the tax on gasoline would increase from 17.5 cents per gallon to 24.5 cents per gallon, and the tax on diesel fuel and alternative fuels would increase from 16 cents per gallon to 23 cents per gallon. Each Transportation Authority's share of such revenues shall be determined on a pro rata basis according to the population of the counties and cities embraced by each Authority as compared to the total population of the Commonwealth. The transportation authorities are given the responsibility for planning and providing for the transportation needs of the counties and cities embraced by the authority. The transportation authorities may use their share of fuels tax revenues to acquire or construct transportation facilities, and may issue bonds for such purposes and provide security for bonds with their allocable share of fuels tax revenues.
The provisions of the bill are effective January 1, 2005.
FULL TEXT
HISTORY
- 01/14/04 Senate: Presented & ordered printed, prefiled 01/14/04 042982716
- 01/14/04 Senate: Referred to Committee on Finance
- 02/17/04 Senate: Incorporated by Fin. (SB635-Chichester) by voice vote