TRANSPORTATION. TRAFFIC CONGESTION RELIEF FUND. ALLOCATING SALES TAX REVENUES FROM MOTOR VEHICLE AND MOTOR VEHICLE FUEL SALES. INITIATIVE STATUTE.

TRANSPORTATION. TRAFFIC CONGESTION RELIEF FUND. ALLOCATING SALES TAX REVENUES FROM MOTOR VEIDCLE AND MOTOR VEHICLE FUEL SALES. INITIATIVE STATUTE. Reallocates sales taxes revenues on motor vehicle sale or lease from General Fund to new Congestion Relief Trust Fund for transportation programs including mass transit, highway improvements, and programs mitigating environmental impacts of motor vehicles and transportation facilities. Specifies distribution percentages, methods, conditions, restrictions. Authorizes revenue bonds for capital outlay projects. Also makes permanent the current allocation of motor vehicle fuel sales and use tax revenues for state highway, local road, and public transportation purposes. Maintains Proposition 98 school funding level. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure redirects General Fund revenues to transportation purposes in the amount of about $2.2 billion in 2002-03, $3.6 billion in 2003-04, and increasing annually thereafter. Corresponding reductions in General Fund revenues available for non-Proposition 98 expenditures