HB 160

Abstract

Creates the Road Fund Transfer Procedures Act. Provides that a bill transferring moneys, during the 2008 and 2009 fiscal years, from the Road Fund to the General Revenue Fund or any other fund in the State treasury may not be considered for final passage by either the House of Representatives or the Senate unless that chamber first adopts, by a record vote of at least two-thirds of the members elected, a motion to consider that bill. Amends the State Finance Act. Exempts the Road Fund from the Act's administrative charge-back provisions for 2005 and thereafter (now 2005-2007). Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that in fiscal years 2008 and 2009, each month the Department of Revenue shall pay into the Road Fund 35% of the net revenue realized for the preceding month from the 6.25% rate on the selling price of motor fuel and gasohol.