The Highway Fund is a fund established in the Maine Constitution (Article IX, Section 19) and by statute (23 MRSA c. 19, sub-c. IV, sections 1651-1653) for: a. the maintenance, construction and reconstruction of Maine highways and bridges; b. administrative costs incurred in the construction and maintenance of highways; and c. expenses for state enforcement of traffic laws. The Highway Fund derives its revenue from a gasoline and diesel fuel tax, taxes on motor truck carriers, motor vehicle license and registration fees, portions of revenues from over weight fines, and other miscellaneous sources. The following represents a breakdown of the budgeted revenue for the Highway Fund for FY 1999-00 and FY 2000-01. These revenues include the 12/4/98 and 11/29/99 reprojections from the Revenue Forecasting Committee and the additional revenues from the $.03 increase in the Gas and Special Fuels Taxes and the $2 increase in motor vehicle registration fees. Fuel taxes and motor vehicle fees currently make up almost 95% of the budgeted revenue for the 2000-2001 biennium.
BUDGETED REVENUE FOR FY 1999-00 AND FY 2000-01
|27.07%||MOTOR VEHICLE LICENSES AND FEES||$66,491,998||$72,356,030|
|0.94%||MOTOR VEHICLE INSPECTION FEES||$2,385,034||$2,421,945|
Amounts may not add to 100% due to rounding.