This bill amends Section 31-36-7 of the General Laws in Chapter 31-36 entitled "Motor Fuel Tax". The amendment adds a new subsection (c) that creates a restricted receipt account called "municipal projects". Fifteen percent of revenue collected from the gasoline tax will be deposited into this account each year and used to fund local capital improvements. The Department of Transportation will develop a formula to determine the amount of funding each city and town receives based on local road mileage, population, and employment. The department will distribute these funds to local communities on or before July 1 of each year. This bill takes effect upon passage.

Statutes affected:
785: 31-36-7