HIGHWAY FUND |
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The Highway Fund is a fund established in
the Maine Constitution (Article IX, Section 19) and by statute (23 MRSA c.
19, |
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sub-c. IV,
sections 1651-1653) for: |
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a.
the maintenance, construction and reconstruction of Maine highways and
bridges; |
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b.
administrative costs incurred in the construction and maintenance of
highways; and |
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c.
expenses for state enforcement of traffic laws. |
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The Highway Fund derives its revenue from
taxes on gasoline and diesel fuel, taxes on motor truck carriers, motor
vehicle |
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license and
registration fees, revenues from over weight fines, and other miscellaneous
highway and |
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transportation
sources. The following represents a breakdown of the budgeted revenue for the
Highway Fund |
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for FY 2011-12
and FY 2012-13. Fuel taxes and motor vehicle license and registration fees
make up 95% |
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of the
budgeted revenue for the 2012-2013 biennium. |
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BUDGETED
REVENUE FOR FY 2011-12 AND FY 2012-13 |
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% OF |
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BIENNIAL |
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TOTAL |
SOURCE |
2011-12 |
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2012-13 |
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62.36% |
GASOLINE TAX |
$196,280,000 |
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$197,590,000 |
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14.15% |
SPECIAL FUEL AND ROAD USE TAXES |
$44,500,000 |
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$44,850,000 |
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-5.62% |
TRANSCAP TRANSFERS - FUEL TAXES |
($17,682,872) |
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($17,804,916) |
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-1.58% |
OTHER FUND GASOLINE TAX DISTRIBUTIONS |
($5,008,374) |
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($4,941,133) |
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69.31% |
SUBTOTAL - FUEL
TAXES |
$218,088,754 |
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$219,693,951 |
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20.52% |
MOTOR VEHICLE REGISTRATION FEES |
$64,805,936 |
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$64,805,936 |
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1.06% |
LICENSE PLATE FEES |
$3,345,309 |
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$3,351,681 |
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2.97% |
LONG-TERM TRAILER REGISTRATION FEES |
$9,384,523 |
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$9,384,523 |
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3.75% |
TITLE FEES |
$11,803,313 |
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$11,905,216 |
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2.72% |
MOTOR VEHICLE OPERATOR LICENSE FEES |
$8,423,641 |
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$8,761,371 |
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-4.75% |
TRANSCAP TRANSFERS - MOTOR VEHICLE FEES |
($15,024,536) |
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($14,966,712) |
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26.28% |
SUBTOTAL - MOTOR
VEHICLE REG. AND FEES |
$82,738,186 |
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$83,242,015 |
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0.94% |
MOTOR VEHICLE INSPECTION FEES |
$2,982,500 |
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$2,982,500 |
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0.41% |
OTHER HIGHWAY FUND TAXES AND FEES |
$1,313,165 |
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$1,276,365 |
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0.31% |
FINES, FORFEITS AND PENALTIES |
$993,049 |
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$993,049 |
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0.04% |
INCOME FROM INVESTMENTS |
$121,761 |
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$111,259 |
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2.71% |
OTHER HIGHWAY FUND REVENUES |
$8,734,112 |
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$8,380,404 |
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100.0% |
TOTALS |
$314,971,527 |
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$316,679,543 |
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$631,651,070 |
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Reflects
budgeted revenue and allocations through the close of FY12 |
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Percentage
amounts may not add to 100% due to rounding |
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