Reference is to Printer's Date 2/14/17-H.
Amend the bill, as and if amended, by striking SECTION 3 and inserting:
/ SECTION 3. Section 12-28-310 of the 1976 Code is amended by adding two subsections to read:
"(D) On July 1,
2017, and each July first thereafter until after July 1, 2021,
the department shall permanently increase the amount of the user
fees imposed pursuant to subsection (A) by two cents, for a
total of ten cents. All of the funds raised by the increase in
the motor fuel user fee imposed by this subsection must be
credited to the Infrastructure Maintenance Trust Fund.
(E)(1) The department
shall increase the amount of the motor fuel user fee imposed
pursuant to subsections (A) and (D) on an annual basis by an
inflation factor equal to the annual average percentage
adjustment over the last ten completed calendar years of the
Consumer Price Index for all-urban consumers as published by the
United States Department of Labor, Bureau of Labor Statistics.
Upon determining the increase, the department shall round the
increase to the nearest one-tenth of a cent. If the increase is
exactly between two-tenths of a cent, the department must round
the increase up to the higher of the two. The department
determines the increase in the motor fuel user fee by March
thirty-first of each year, and the increase takes effect the
following July first. The department must notify affected
taxpayers of the motor fuel user fee to be in effect for the
coming July first to June thirtieth period.
(2)
Notwithstanding the provisions of subsection (E)(1), the
motor fuel user fee may not be increased by more than two cents
in a single year.
(3)
All of the funds raised by the increase in the motor fuel
user fee imposed by this subsection must be credited to the
Infrastructure Maintenance Trust Fund."
B. The first CPI adjustment made pursuant to this SECTION takes effect July 1, 2022. /
Renumber sections to conform.
Amend title to conform.