SCA 2 (Newman) Motor vehicle fees and taxes: restriction on expenditures
Prohibits the Legislature from borrowing revenues from fees and taxes imposed by the state on vehicles or their use or operation, and from using those revenues other than as specifically permitted by Article XIX. Prohibit those vehicle revenues and fuel tax revenues from being pledged or used for the payment of principal and interest on general obligation bonds (excepting vehicle weight fee revenues approved prior to January 1, 2017). Retains existing restrictions for use of fuel tax revenues to pay principal and interest on other transportation bonds, but would authorize the use of fuel tax revenues and vehicle fee revenues attributable to tax and fee rate increases enacted on or after January 1, 2017, to pay principal and interest on debt service for revenue bonds issued for expenditures consistent with Article XIX. Repeals the authorization for fuel tax revenues allocated to mass transit purposes to be pledged or used for payment of principal and interest on voter-approved bonds issued for those mass transit purposes, and would instead subject those expenditures to the same restrictions applicable to the use of fuel tax revenues for street and highway bond purposes.
Additionally, subjects the portion of the existing and future sales and use tax on diesel fuel that are deposited in the Public Transportation Account to the requirements of Article XIX A. Also prohibits the pledging or use of sales and use tax revenues for the payment of principal and interest on general obligation bonds issued by the state.
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|Last Updated:||March 24, 2017|