Bill > A2908

This bill increases the motor fuels tax and the amount of money that must be annually credited to the Transportation Trust Fund, which is an account established to fund transportation projects. Specifically, it incrementally raises the tax on gasoline from $0.105 per gallon to $0.225 per gallon by the fiscal year beginning July 1, 2015, and on special fuels from $0.135 per gallon to $0.255 per gallon by the same fiscal year. Correspondingly, the bill increases the minimum annual amounts that must be credited to the Transportation Trust Fund, with the total minimum credit reaching $1,035 million by the fiscal year beginning July 1, 2015. These changes are intended to ensure sufficient funding for transportation infrastructure.