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July 18, 2016

By the numbers: Transportation funding on target

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The pressure to fund needed transportation infrastructure projects is being felt universally by states across the nation, as roads, bridges and maintenance have take a back seat to other critical needs. Georgia broke from the pack, taking bold steps to alleviate its gap by passing the Transportation Funding Act of 2015 (HB 170).

As a refresher, some of the changes brought about by HB 170 included reclaiming the so-called "4th penny."  For many years, only 3% of the 4% sales tax on fuel went to transportation, while 1% went to the state treasury.  HB 170 prevents fuel taxes from being diluted for other purposes and it changed formulas for how fuel taxes are collected.  Georgia Senator Jack Hill, Chairman of the Finance Committee, spells out the changes in his weekly newsletter.  He also highlights the fact that projections are on target for funds tied to HB 170.

Revenue over the past 11 months:

Motor Fuel Excise Taxes     $572.7 million Highway Impact Fees         $13.9 million Hotel/Motel Fees                $136.1 million Total New Sources          $722.7 million

Find out where the dollars are going by clicking here.