| HIGHWAY FUND |
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| The Highway Fund is a fund established in
the Maine Constitution (Article IX, Section 19) and by statute (23 MRSA c.
19, |
| sub-c. IV, sections 1651-1653)
for: |
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the maintenance, construction and reconstruction of Maine highways and
bridges; |
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| b.
administrative costs incurred in the construction and maintenance of
highways; and |
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| c.
expenses for state enforcement of traffic laws. |
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| The Highway Fund derives its revenue from
a gasoline and diesel fuel tax, taxes on motor truck carriers, motor vehicle |
| license and
registration fees, revenues from over weight fines, and other miscellaneous
highway and |
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| transportation
sources. The following represents a breakdown of the budgeted revenue for the
Highway Fund |
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| for
FY 2003-04 and FY 20004-05. Fuel taxes and motor vehicle license and
registration fees make up slightly over 94% |
| of the
budgeted revenue for the 2004-2005 biennium. |
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| BUDGETED
REVENUE FOR FY 2003-04 AND FY 2004-05 |
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| % OF |
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| BIENNIAL |
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| TOTAL |
SOURCE |
2003-04 |
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2004-05 |
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| 68.68% |
FUEL TAXES |
$210,496,449 |
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$220,838,729 |
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| 25.63% |
MOTOR VEHICLE LICENSES AND FEES |
$79,605,062 |
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$81,378,234 |
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| 1.23% |
MOTOR VEHICLE INSPECTION FEES |
$3,461,771 |
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$4,281,459 |
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| 0.64% |
FINES |
$2,122,901 |
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$1,890,359 |
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| 0.24% |
EARNINGS ON INVESTMENTS |
$425,217 |
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$1,059,903 |
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| 3.57% |
OTHER REVENUES |
$8,632,917 |
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$13,817,473 |
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| 100.00% |
TOTALS |
$304,744,317
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$323,266,157
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$628,010,474
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| Reflects all
actions through the 2nd Special Session of the 122nd Legislature. |
| Percentage
amounts may not add to 100% due to rounding |
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