HB 170 – Transportation Funding Act of 2015
HB 170 continues to evolve as it progresses through the legislative process. On February 19th a substitute version of the bill received a favorable report from the House Transportation Committee with several key components:
- To address the concerns voiced by local governments regarding the loss of SPLOST potential, the substitute bill allows SPLOST and ESPLOST to be levied on motor fuels, but any revenue generated from motor fuels must be used for transportation purposes.
- Collections of future HOST, LOST and MOST taxes will be collected at 1.25% rather than the current 1%
- The substitute bill repeals the $5,000 state tax credit for the purchase of an electric vehicle
- The bill also removes the Governor’s ability to suspect collection of fuel taxes, except under the case of a state of emergency
The “Transportation Funding Act of 2015” was withdrawn and recommitted to the House Transportation Committee this week and is expected to undergo additional changes before it makes it to the house floor.