Bill > H3725

This bill authorizes the town of Lee to implement an additional excise tax, which is a tax on specific goods or services, of 3 cents per gallon on the sale of gasoline and diesel fuel. This new tax would be in addition to existing state taxes on these fuels, and its collection and administration would follow the same rules as those existing taxes, including any exemptions or reimbursements. The revenue generated from this excise tax would be sent to the town of Lee's treasurer quarterly by the state treasurer, after being certified by the commissioner of revenue. Importantly, all funds collected under this act must be deposited into a separate fund called the Public Way Maintenance Fund, which will be managed by the town treasurer. Any money remaining in this fund at the end of a fiscal year will carry over to the next, and any interest earned will also remain in the fund. Disbursements from this fund require a majority vote from the town's board of selectmen and can only be used for the repair, maintenance, and upkeep of town roads and bridges. Before this law can take effect, the qualified voters of Lee must approve it at the next municipal election by voting on a specific question presented to them.