(a)
(1) There is created in the State Treasury a fund to be known as the State Aid Road Fund, to which the Treasurer of State shall transfer one hundred percent (100%) of the revenues credited to the State Highway Special Construction Account of the State Highway and Transportation Department Fund each month until an aggregate total of thirteen million dollars ($13,000,000) each fiscal year is so transferred, there to be used for construction, reconstruction, and improvements of the state aid road system.
(2)
(A) For the fiscal year beginning July 1, 2000, the limitation on the transfer of funds in this subsection (a) shall be increased to fifteen million dollars ($15,000,000);
(B) For the fiscal year beginning July 1, 2001, the limitation on the transfer of funds in this subsection (a) shall be increased to seventeen million dollars ($17,000,000);
(C) For the fiscal year beginning July 1, 2002, the limitation on the transfer of funds in this subsection (a) shall be increased to nineteen million dollars ($19,000,000); and
(D) For the fiscal year beginning July 1, 2003, and for all fiscal years thereafter, there shall be no limitation on the transfer of funds to the State Aid Road Fund.
(b)
(1) All revenues deposited in the State Aid Road Fund shall be apportioned to each county as prescribed in § 27-72-309 for the distribution of mileage on the state aid road system among the various counties.
(2) The apportioned funds shall remain for a period of two (2) years from the date they are apportioned.
(3) Any unused funds shall be returned to the State Aid Road Fund for redistribution in accordance with the above formula.
(4) For a county to receive these funds, they must be matched in the ratio of ninety percent (90%) state aid road funds to not less than ten percent (10%) county matching funds, and the county must comply with all provisions of this subchapter.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.