The bill amends Section 31-36-20 of the General Laws concerning the allocation of motor fuel tax proceeds. It introduces new legal language designating the fund as the "Intermodal Surface Transportation Fund" and specifies that for fiscal years 2010 through 2025, the allocation will be nine and seventy-five hundredth cents ($0.0975) per gallon, with one-half cent ($0.005) derived from the environmental protection fee. Starting in fiscal year 2026, the allocation will shift to thirty percent (30%) of the total proceeds, which will also include thirty percent (30%) from the environmental protection fee. Additionally, one cent ($0.01) per gallon will be allocated to the Elderly/Disabled Transportation Program.

The bill also includes several deletions from the current law, such as the removal of the allocation for fiscal years 2006 and thereafter, which previously specified a fixed amount rather than a percentage. It mandates that all funds deposited and transferred under this section be made within twenty-four hours and requires the Director of the Rhode Island Department of Transportation to manage certain financial obligations related to debt service payments. The act is set to take effect upon passage.