This bill directs the department of transportation to study transportation infrastructure needs, costs, and funding sources for the years 2026, 2050, and 2075 and report its findings and recommendations to legislative committees by December 1, 2025. In conducting the study, the department must consider (i) existing sources of revenue dedicated to transportation infrastructure, including the highway fund; (ii) potential sources of existing revenue not dedicated to transportation but derived substantially from transportation activities; and (iii) the impact of the transportation equity trust fund on transportation infrastructure needs. TRANSPORTATION EQUITY TRUST FUND This bill requires all revenues received from the sale, use, consumption, distribution, or storage for use or consumption of new or used motor vehicles and new or used tires on or after July 1, 2025, to be allocated to and deposited in the highway fund. Additionally, this bill provides that 1% must be subtracted from the 29.0141% that is designated for distribution to the general fund, to be distributed to the department of transportation for expenses of administration prior to the distribution to the general fund under present law. However, no portion of the revenue derived from the increase in the rate of sales and use tax allocated to educational purposes under present law for local education agencies on a per pupil basis for nonrecurring items such as supplies, textbooks, and equipment and general education purposes, and no portion of the revenue derived from the increase in the rate of sales and use tax from 6% to 7% from the tax levied on the sale of tangible personal property at retail, must be apportioned and distributed pursuant to this bill. In those situations, the revenue must be allocated as provided in present law.

Statutes affected:
Introduced: 67-6-103