Transportation funding; provides new and increased taxes, tolls, and general fund revenues. (SB1295)

Introduced By

Sen. John Miller (D-Newport News)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Transportation funding.  Provides new and increased taxes, tolls, and general fund revenues for transportation funding.

The bill would (i) decrease the motor fuels tax from $0.175 per gallon to $0.05 per gallon and establish a five percent tax on motor fuels sales based upon the statewide average wholesale price of a gallon of self-serve unleaded regular gasoline; (ii) subject to the amount of the additional revenues generated by the changes described in clause (i), increase the motor fuels tax rate by $0.10 per gallon in increments of $0.02 per gallon each year over the five-year period beginning in 2012; (iii) beginning in 2012 increase the motor vehicle sales and use tax by 0.50 percent each year for four years; (iv) provide that of the retail sales and use tax revenues generated by the Commonwealth's four percent tax on sales of automobile parts and automobile accessories, an amount equivalent to the revenues generated by a 2.5 percent retail sales and use tax on such parts and accessories would be deposited into the Highway Maintenance and Operating Fund; (v) subject to receipt of federal authorization, authorize the Commonwealth Transportation Board to impose and collect a toll of $1 per axle on every vehicle entering the Commonwealth from the state of North Carolina via Interstate Route 85 and Interstate Route 95; and (vi) dedicate for highway maintenance purposes 10 percent of the future growth in certain state taxes that is attributable to economic activity generated or facilitated by the public and private general cargo marine terminals and inland ports of the Commonwealth.

All amounts generated under the bill would be deposited into the Highway Maintenance and Operating Fund to be used for highway maintenance except the revenues from tolls on vehicles entering the Commonwealth from North Carolina, which would be deposited into the Transportation Trust Fund. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2011Prefiled and ordered printed; offered 01/12/11 11102418D
01/12/2011Referred to Committee on Finance
02/01/2011Stricken at request of Patron in Finance (14-Y 0-N) (see vote tally)

Comments

Hampton Roads Partnership, tracking this bill in Photosynthesis, notes:

Track for Caucus