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Texas Transportation Funding

Texas Transportation Funding. State Senator Robert Nichols. Senator Robert Nichols. What is the problem with transportation f unding? What do we need to focus on between now and November 2014? What do we need to do next session?. Senator Robert Nichols. Traditional Revenue Sources.

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Texas Transportation Funding

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  1. Texas Transportation Funding State Senator Robert Nichols

  2. Senator Robert Nichols • What is the problem with transportation funding? • What do we need to focus on between now and November 2014? • What do we need to do next session?

  3. Senator Robert Nichols Traditional Revenue Sources Vehicle Registration Fees State Motor Fuel Tax Federal Motor Fuel Tax

  4. Senator Robert Nichols Texas Fleet Fuel Efficiency History and Future Forecast MPG Personal vehicles Commercial vehicles

  5. Senator Robert Nichols The Cost of Inflation Fuel Tax Receipts Purchasing Power

  6. Senator Robert Nichols TransportationFunding Maintenance Construction

  7. Senator Robert Nichols TransportationFunding Maintenance Construction Rehab ( Overhaul existing system ) New capacity

  8. Senator Robert Nichols TransportationFunding Maintenance Construction Rehab ( Overhaul existing system ) New capacity Preservation

  9. Senator Robert Nichols $ Preservation Time

  10. Senator Robert Nichols Traditional Funding $ Preservation Time

  11. Senator Robert Nichols Traditional Funding New Capacity $ Preservation Time

  12. Senator Robert Nichols New Capacity Preservation

  13. Senator Robert Nichols Reduced Emphasis on Transportation ’60 33% ‘14 9% In 1960, one third of the state budget went for transportation. Today, it is closer to nine percent.

  14. Senator Robert Nichols One Time Funding Sources • 2001 Texas Mobility Fund ($6.9 Billion debt) • 2003 Proposition 14 ($6 Billion debt) • 2007 Proposition 12 ($5 Billion debt) • 2008 NTTA Payment on SH 121 ($3.2 Billion debt) • 2009 Federal Stimulus Dollars ($2.6 Billion) • Also, $1.9 Billion in outstanding pass through debt • Grand Total of $25.6 Billion in one time funding and over $23 Billion in debt

  15. Senator Robert Nichols Solutions?

  16. Senator Robert Nichols Definitions Severance Tax- tax paid on the production value of oil and gas extracted from the ground

  17. Senator Robert Nichols Definitions Severance Tax- tax paid on the production value of oil and gas extracted from the ground Economic Stabilization Fund (ESF)- state savings account created by the voters in 1988. Commonly referred to as the “Rainy Day Fund”, the ESF is funded with the oil and gas severance tax through an annual deposit.

  18. Senator Robert Nichols

  19. Senator Robert Nichols

  20. Senator Robert Nichols

  21. Senator Robert Nichols

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  24. Senator Robert Nichols • On ballot November 2014 • Immediate effect • Does not take money out of the rainy day fund. • Does not solve the entire transportation funding problem but is a big step in the right direction.

  25. Senator Robert Nichols Sales Tax and Registration by biennium Revenue (in billions) Vehicle Sales TaxRegistration Fees

  26. Senator Robert Nichols QUESTIONS?

  27. Texas Transportation Funding State Senator Robert Nichols

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