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| SPONSOR: | Kissner | DATE TYPED: | 3/12/99 | HB | 750\aHTRC | ||
| SHORT TITLE: | Gasoline Tax for Municipal Bonds | SB | |||||
| ANALYST: | Taylor | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY99 | FY2000 | |||
| n.a. | NFI | NFI | Recurring | Local Road Funds |
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
Taxation and Revenue Department (TRD)
Department of Finance and Administration (DFA)
SUMMARY
Synopsis of HTRC Amendments
The HTRC amendment eliminates references to transit routes, which has the effect of expanding the potential uses of local option gasoline taxes for bonding purposes.
The HTRC amendments do not change the fiscal implications of the bill.
Synopsis of Bill
House Bill 750 would allow counties and municipalities to use gasoline taxes for the bonding of roads, streets, highway or public transit capital projects. Gasoline taxes could be used in conjunction with other revenue sources for these bonds.
FISCAL IMPLICATIONS
TRD points out that while there is no immediate revenue impact, allowing counties and municipalities to bond the gasoline tax revenue may effectively prohibit the legislature from reducing distributions in the future.
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