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11 1 1 1 <br /> ~ ~ 11 1 ~ I ~ 1 <br /> In addition to the potential revenue from sources listed above, the Vision <br /> Committee recommends consideration of actions that would allow local <br /> governments to generate revenue, such as the following: <br /> Proposed new revenue for multimodal investments -local <br /> Multimodal Funding Concept Approximate <br /> Annual Revenue <br /> Increase payroll tax to 0.8 percent <br /> TriMet* $30 million <br /> Lane Transit* $4 million <br /> Allow transit and transportation districts to adopt <br /> authorized financing methods** by board action. <br /> Parking excise tax (10~ per space per day) <br /> TriMet (based on 1995 and 1998 studies) $29 million <br /> Other districts $15 million <br /> System development charges for transit <br /> TriMet (based on 1998 study) $32 million <br /> Other districts (estimate) ~ <br /> Annual funding increase $126 million <br /> *The current maximum level of the payroll tax is 0.7 percent of gross payroll, subject to a 10 year 'I <br /> phase-in that began in 2004. The estimate is additional money that could be raised by 0.8 percent pay- <br /> roll tax above a 0.7 percent rate, assuming current levels of gross payroll. ~i <br /> Under current law, districts may finance public transportation service using revolving funds, bonds, <br /> business license fees, net income taxes and payroll taxes. The TriMet and Lane Transit district boards <br /> have authority to finance their service without first obtaining voter approval; other district boards must <br /> <br /> first obtain voter approval. The boards may refer their proposals to the voters. In addition, board action <br /> is subject to referral by initiative. <br /> 23 <br /> <br />