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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