4.2. SR 03-20-2000 - Laserfiche WebLink

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FUTURE TRANSPORTATION SPENDING FY 2002-2003 Revenue estimates for the sales tax on motor vehicles (MVET) are: FY2002, $532.9 million; FY 2003, $550.0 million; biennial total, $1.083 billion. (Feb. 2000 estimate) 25% of the MVET revenues would be distributed to the Highway User Tax Distribution fund for registration tax reduction as follows: FY 2002, $133.2 million; FY 2003, $137.5 million; biennial total $270.7 million. 25% of the MVET revenues would be distributed to the Multimodal Transportation fund for transportation spending as follows: FY 2002, $133.2 million; FY 2003, $137.5 million; biennial total $270.7 million. Of the amount available in the Multimodal fund, approximately $90 million would be needed each year for on-going spending for transit operations, rail and waterways, motor carder regulation, safety council, and highway tort claims. Approximately $45 million would be available each year for new transportation spending. Net impact on the general fund after cancellations of existing transportation appropriations is approximately 36% of MVET, 25% for registration tax reduction and 11% for transportation spending. Up to $100 million would be available each year. for trunk highway construction from trunk highway bonding authorizations. FY 2004-2005 MVET revenue estimates are approximately (assuming 4% annual growth): FY2004, $572 million; FY 2005, $595 million; biennial total, $1.17 billion. 25% of the MVET revenues would be distributed to the Highway User Tax Distribution fund for registration tax reduction as follows: FY 2004, $142 million; FY 2003, $149 million; biennial total, $291 million. 50% of the MVET revenues would be distributed to the Multimodal Transportation fund for transportation spending as follows: FY 2004, $286 million; FY 2003, $298 million; biennial total, $584 million.