Public Transportation Trust Funds. Gasoline Sales Tax. Initiative Statute.

PUBLIC TRANSPORTATION TRUST FUNDS. GASOLINE SALES TAX. INITIATIVE STATUTE. • This measure imposes an additional 4% tax on retail sales of gasoline. • Proceeds will be deposited into transit and highway trust funds. • Revenue to be spent on electric rail and clean fuel buses, light rail, commuter and intercity rail systems, transit for elderly and disabled persons, bicycle projects, crime reduction on transit systems, and other transportation programs. • Limits overhead on state construction projects and transportation operations funded from revenue. • Provides for acquisition of agricultural land conservation easements, wetlands, riparian habitat and land for parks as offsets to transportation impacts. Summary of Legislative Analyst\u27s Estimate of Net State and Local Government Fiscal Impact: • Increases gasoline sales tax revenues by about $630 million annually for specified transportation purposes. • Increases state and local costs, potentially in the tens of millions of dollars annually, to operate passenger rail and bus services. These costs are potentially offset to an unknown extent by revenues from the measure. • Shifts about $25 million annually in existing sales tax revenues from the General Fund to transportation uses. • Potential loss in gasoline and sales tax revenues to state and local governments of less than $15 million annually. • Increases administrative costs of about $46 million annually to various state agencies, offset by the measure\u27s revenues and other state transportation funds