The Public Transportation Trust Fund Transfer and Increase Act establishes new provisions for the funding of public transportation in Pennsylvania. It mandates that 6.15% of the revenue collected under Article II of the Tax Reform Code be deposited into the Public Transportation Trust Fund on a monthly basis. This requirement is set to ensure a consistent flow of funds to support local transportation organizations.
Additionally, the bill allows for an annual increase in financial assistance to local transportation organizations, permitting allocations to exceed 20% of the previous year's funding. The Secretary of Transportation is granted the authority to adjust and maintain the annual increase in local match funding for a period of five fiscal years, starting from fiscal year 2025-2026. This act aims to enhance the financial stability and operational capacity of public transportation services across the Commonwealth.