S.B.
229
TRANSPORTATION FUNDING REVISIONS
Senate Committee
Amendments
Amendment 1 February 25, 2011 2:41 PM
Senator J. Stuart Adams proposes the following amendments:
1. Page 1, Line 15 :
15 Transportation Investment Fund of 2005 in certain circumstances;
{
and
}
. amends the amount of sales and use tax revenue that is deposited into the Critical Highway Needs Fund or the Transportation Investment Fund of 2005; and
2. Page 14, Line 426 through Page 15, Line 436 :
426 (b) Notwithstanding Subsection (3)(a) and until Subsection (9)(c) applies, for a fiscal
427 year beginning on or after July 1, 2009, the Division of Finance shall annually deposit
428
{
$90,000,000
}
4.88%
of the revenues generated by the taxes listed under Subsection (3)(a) into the
429 Critical Highway Needs Fund created by Section 72-2-125 .
430 (c) Notwithstanding Subsection (3)(a) and in addition to any amounts deposited under
431 Subsections (7) and (8), when the general obligation bonds authorized by Section 63B-16-101
432 have been paid off and the highway projects completed that are included in the prioritized
433 project list under Subsection 72-2-125 (4) as determined in accordance with Subsection
434 72-2-125 (6), the Division of Finance shall annually deposit
{
$90,000,000
}
4.88%
of the revenues
435 generated by the taxes listed under Subsection (3)(a) into the Transportation Investment Fund
436 of 2005 created by Section 72-2-124 .
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