5993-S AMS FROC S4525.3
SSB 5993 - S AMD 798
By Senator Frockt
ADOPTED 04/25/2019
On page 1, line 11, after "during the" strike all material through "biennia" and insert "2019-2021 biennium"
On page 2, line 37, after "dollar and" strike "thirty-nine" and insert "nine"
On page 3, line 2, after "as follows" insert ", after first depositing the tax as provided in (c) of this subsection (1)"
On page 3, line 3, after "(i)" strike "Forty-five" and insert "Sixty"
On page 3, line 5, after "(ii)" strike "Forty" and insert "Twenty-five"
On page 3, line 9, after "(c)" insert "Until the beginning of the ensuing biennium after the enactment of an additive transportation funding act, fifty million dollars per biennium to the motor vehicle fund to be used exclusively for transportation stormwater activities and projects. For purposes of this subsection, "additive transportation funding act" means an act in which the combined total of new revenues deposited into the motor vehicle fund and the multimodal transportation account exceed two billion dollars per biennium attributable solely to an increase in revenue from the enactment of the act.
(d)"
Correct any internal references accordingly.
EFFECT: (1) It is the intent of the legislature that no transfers occur to the operating budget in the 2019-2020 biennium.
(2) Reduces the volumetric rate on petroleum products from $1.39 per barrel to $1.09 per barrel.
(3) Adjusts the allocation of the Hazardous Substance Tax (HST) revenue to the MTCA accounts.
(4) Provides $50 million per biennium to the Motor Vehicle Fund to be used exclusively for transportation stormwater purposes until transportation revenues increase by $2 billion attributable to an additive transportation funding act.
FISCAL IMPACT: Decreases revenue from the HST by $25 million in 2019-21 and $18 million in 2021-23.
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