SB 65 MOTOR VEHICLE TAX DISTRIBUTIONS

Sen Ron Griggs

Actions: [1] SCC/STBTC/SFC-SCC [2]germane-STBTC [6] DP-SFC

Scheduled: Not Scheduled

 Senate Bill 65 (SB 65) modifies the Motor Vehicle Excise Tax distribution which increases amounts to the State Road Fund and Transportation Project Fund. SB 65 eliminates the distribution to the General Fund. 

 Senate Bill 65 (SB 65) modifies the Motor Vehicle Excise Tax (MVET) distribution. A portion (59.39%) of MVET will no longer be diverted to the General Fund. SB 65 increases the distribution to the State Road Fund from 21.86% to 60% and the distribution to the Transportation Project Fund for local governments from 18.75% to 40%. 

The effective date of SB 65 is July 1, 2024.
 

 The current MVET distribution:
General Fund 59.39%
State Road Fund 21.86%
Transportation Project Fund (local governments) 18.75%