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Texas Transportation Funding. State Senator Robert Nichols. Senator Robert Nichols. What is the problem with transportation f unding? What do we need to focus on between now and November 2014? What do we need to do next session?. Senator Robert Nichols. Traditional Revenue Sources. - PowerPoint PPT Presentation

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Average Fleetwide Fuel Efficiency: 1973 to 2007

Texas Transportation FundingState Senator Robert NicholsWhat is the problem with transportation funding?

What do we need to focus on between now and November 2014?

What do we need to do next session?Senator Robert NicholsNicholsTraditional Revenue Sources

State Motor Fuel TaxFederal Motor Fuel TaxVehicle Registration FeesSenator Robert NicholsTexas Fleet Fuel EfficiencyHistory and FutureMPGPersonal vehiclesCommercial vehiclesForecastSenator Robert NicholsThe Cost of InflationPurchasing PowerFuel Tax ReceiptsSenator Robert NicholsNicholsTransportation Funding Maintenance Construction Senator Robert NicholsTransportation Funding Maintenance Construction Rehab( Overhaul existing system ) New capacity Senator Robert NicholsTransportation Funding Maintenance Construction Rehab( Overhaul existing system ) New capacity PreservationSenator Robert Nichols$TimePreservationSenator Robert NicholsNichols$TimePreservationTraditional FundingSenator Robert NicholsNichols$TimePreservation

Traditional FundingNew CapacitySenator Robert NicholsNicholsPreservationNew Capacity

Senator Robert NicholsReduced Emphasis on TransportationIn 1960, one third of the state budget went for transportation. Today, it is closer to nine percent.149%6033%Senator Robert NicholsOne Time Funding Sources2001 Texas Mobility Fund ($6.9 Billion debt)2003 Proposition 14 ($6 Billion debt)2007 Proposition 12 ($5 Billion debt)2008 NTTA Payment on SH 121 ($3.2 Billion debt)2009 Federal Stimulus Dollars ($2.6 Billion)Also, $1.9 Billion in outstanding pass through debtGrand Total of $25.6 Billion in one time funding and over $23 Billion in debt

Senator Robert NicholsSolutions?Senator Robert NicholsDefinitions

Severance Tax- tax paid on the production value of oil and gas extracted from the ground

Senator Robert NicholsDefinitions

Severance Tax- tax paid on the production value of oil and gas extracted from the ground

Economic Stabilization Fund (ESF)- state savings account created by the voters in 1988. Commonly referred to as the Rainy Day Fund, the ESF is funded with the oil and gas severance tax through an annual deposit.

Senator Robert NicholsSenator Robert NicholsSenator Robert NicholsSenator Robert NicholsSenator Robert NicholsSenator Robert NicholsSenator Robert NicholsNicholsOn ballot November 2014

Immediate effect

Does not take money out of the rainy day fund.

Does not solve the entire transportation funding problem but is a big step in the right direction.Senator Robert NicholsSales Tax and Registrationby bienniumRevenue (in billions)Vehicle Sales Tax Registration FeesSenator Robert NicholsQUESTIONS?Senator Robert NicholsTexas Transportation Funding

State Senator Robert Nichols

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