After 30 years of inaction, the General Assembly finally approved a dedicated and recurring transportation funding bill effective July 1, 2017.
The bill will provide roughly $630 million in recurring funds (once fully implemented in year ten), transfers control over SCDOT Commission appointments to the Governor, and offers some tax relief.
- 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