Bill > H4031

This bill modifies how certain transportation-related fines and fees are allocated in South Carolina by redirecting them from the State Transportation Infrastructure Bank to the State Highway Fund. Specifically, the bill requires that numerous fees and fines from various motor vehicle-related sections of law (such as those related to driver's licenses, vehicle registrations, and traffic violations) be credited to the State Highway Fund instead of the Infrastructure Bank. The Department of Transportation is then instructed to use these funds for two primary purposes: first, to pay existing debts and debt service of the Transportation Infrastructure Bank, and second, to fund a state-funded resurfacing program. The resurfacing program must use a needs-based methodology that ensures each county receives funding, with the distribution based on county-specific considerations. Additionally, the bill requires the Secretary of Transportation to maintain bridge and resurfacing prioritization at levels consistent with Fiscal Year 2024-2025 spending. As a final provision, the bill repeals the entire existing chapter related to the State Transportation Infrastructure Bank, effectively restructuring how transportation infrastructure funding is managed in the state.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4031&session=126&summary=B