Bill > SB214

This bill amends existing law regarding the distribution of proceeds from the motor vehicle tax, including any associated interest and penalties, which are currently deposited into a newly created "motor vehicle suspense fund." Instead of all receipts going to the general fund, this bill phases in a shift of these funds to the state road fund over several years. Specifically, before July 1, 2015, 100% goes to the general fund; from July 1, 2015, to June 30, 2016, 90% goes to the general fund and 10% to the state road fund; from July 1, 2016, to June 30, 2017, 60% goes to the general fund and 40% to the state road fund; from July 1, 2017, to June 30, 2018, 30% goes to the general fund and 70% to the state road fund; and on and after July 1, 2018, 100% will be directed to the state road fund. The "general fund" is the state's main operating budget, while the "state road fund" is dedicated to financing road construction and maintenance.