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: a. the maintenance, construction and reconstruction of Maine highways and bridges; b. administrative costs incurred in the construction and maintenance of highways; and c. expenses for state enforcement of traffic laws. The Highway Fund derives its revenue from a gasoline and diesel fuel tax, taxes on motor truck carriers, motor vehicle license and registration fees, portions of revenues from over weight fines, and other miscellaneous sources. The following represents a breakdown of the budgeted revenue for the Highway Fund for FY 2001-02 and FY 2002-03. Fuel taxes and motor vehicle fees currently make up just over 94% of the budgeted revenue for the 2002-2003 biennium.
BUDGETED REVENUE FOR FY 2001-02 AND FY
|28.59%||MOTOR VEHICLE LICENSES AND FEES||$77,418,092||$81,690,336|
|1.26%||MOTOR VEHICLE INSPECTION FEES||$3,338,354||$3,683,907|
|0.79%||EARNINGS ON INVESTMENTS||$3,000,000||$1,418,000|
Reflects all actions
through the 1st Regular Session of the 121st Legislature.
Amounts may not add to 100% due to rounding.