Act 40 of 2017 will provide roughly $600 million in recurring funds, once fully implemented, to be used solely on the improvements of South Carolina’s roads and bridges. The law also transferred control over SCDOT Commission appointments to the Governor, and provided tax relief to individuals and businesses.
- Increase the motor fuel user fee by 12 cents over the next six years (2 cents per year).
- Increase biennial registration fees on private passenger vehicles by $16.
- Impose an “Infrastructure Maintenance Fee” upon the purchase of a motor vehicle (capped at $500).
- Impose a one-time $250 registration fee for anyone who transfers a motor vehicle from another state to South Carolina.
- Create new registration fees for alternative vehicles: $120 for EV’s & $60 for hybrid vehicles.
- Roll the truck property tax into the IRP for out-of-state IRP-registered fleets.
- 9-member commission: 7 representing the congressional districts, 2 at-large; all appointed by the Governor.
- The 7 congressional appointments are confirmed by bicameral congressional delegation members.
- The 2 at-large appointments must be approved with the advice & consent of both the House and Senate.
- All 9 commissioners serve at the will of the governor.
TAX REBATE & CREDITS
- Tax rebates to offset S.C. residents paying a higher motor fuel user fee and driving fees
- Earned income tax credit
- Two wage earner tax credit
- Tuition tax credits
- Manufacturing, business personal property tax reduction