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11 1 1 1 <br /> ~ ~ 11 1 ~ I ~ 1 <br /> What does this mean to the Another option for proposed <br /> trucking industry? revenue increases <br /> <br /> The proposal for road finance meets the The Vision Committee recognized <br /> constitutional requirement that each that there are alternative ways to <br /> class of road user pay a proportionate provide the target highway and road <br /> share of the road user revenue. Heavy funding. The Committee developed <br /> vehicle fees provide 34.1 percent the alternative below with a higher <br /> of the total revenue above. This fuel tax and lower registration fee to <br /> represents a 56 percent increase in illustrate a different response to policy <br /> total heavy vehicle tax payments over considerations. <br /> the forecasted 2008 payments. Heavy <br /> vehicle registration and title fees or <br /> weight mile taxes could be increased to <br /> provide this revenue. <br /> Road Funding Concept Light Heavy Total <br /> Vehicle Vehicle Approximate <br /> Share1 Share1 Annual Revenue <br /> Increase registration fee ($27 $101.5 million $52.5 million $154 million <br /> per year to $54 per year) <br /> One dollar increase in auto reg- <br /> istration fees would raise about <br /> $5.7 million from light and heavy <br /> vehicles per year <br /> Increase title fee ($55 to $100 $52.7 million $27.3 million $80 million <br /> for light vehicles} <br /> One dollar increase in the title fee <br /> would raise about $1.8 million <br /> from light and heavy vehicles per <br /> year <br /> First time title fee (new $100 $21.7 million $11.3 million $33 million <br /> fee or a variable fee based on <br /> fuel economy} <br /> One dollar first title fee would <br /> raise about $330,000 from light <br /> and heavy vehicles per year <br /> 8~ fuel tax increase (from 24~ $152.9 million $79.1 million $232 million <br /> per gallon to 32~) <br /> One cent increase in the fuel tax <br /> would raise about $29 million from <br /> light and heavy vehicles per year <br /> Annual funding increase $499 million <br /> 1All potential revenue estimates assume proportionate increases in heavy vehicle fees to ensure cost <br /> responsibility. Light vehicles should pay 65.9 percent and heavy vehicles should pay 34.1 percent of <br /> state highway revenue per 2007 Highway Cost Allocation Study. <br /> 17 <br /> <br />