The bill H. 4031 aims to amend the South Carolina Code of Laws by adding a new section, 57-11-30, which mandates that certain fines and fees collected under specified sections must be credited to the State Highway Fund instead of the State Transportation Infrastructure Bank. This change is intended to ensure that funds are allocated directly to the State Highway Fund for specific purposes, including paying debts incurred by the State Transportation Infrastructure Bank and supporting a state-funded resurfacing program. The Department of Transportation is tasked with developing a needs-based methodology for distributing resurfacing funds to guarantee that every county receives funding.

Additionally, the bill includes the repeal of Chapter 43 of Title 11, which relates to the State Transportation Infrastructure Bank, effectively dissolving this entity. The Secretary of Transportation is required to maintain prioritization of bridge and resurfacing needs at levels comparable to those in the previous fiscal year. The bill will take effect upon the Governor's approval.

Statutes affected:
02/18/2025: 57-11-30
Latest Version: 57-11-30