Program 22-919: Highway Fund #2 - Motor Vehicle Tax

Program Authorization: Article VI, Section 22(G) of the 1921 State Constitution; Attorney General's opinion # 76-796

PROGRAM DESCRIPTION

This fund was established in the State Constitution of 1921 to provide for the collection of vehicular license taxes from six parishes (Orleans, Jefferson, St. John the Baptist, St. Charles, Tangipahoa, and St. Tammany). The revenue collected is dedicated for payment of specific bond issues of the Mississippi River Bridge Authority and the Greater New Orleans Expressway Commission.

RESOURCE ALLOCATION FOR THE PROGRAM

This agency's recommended funding level does not include any funds for short-term debt.

This agency's recommended funding level includes a portion of the $9,800,000 in long-term debt for Fiscal Year 1998-1999.

SOURCE OF FUNDING

The source of funding for this program is statutory dedicated motor vehicle license revenue. (Per R.S. 39:32B.(8), see table below for a listing of expenditures out of each statutory dedicated fund.)

ANALYSIS OF RECOMMENDATION

GENERAL FUND

TOTAL

T.O.

 

DESCRIPTION

 

 

 

 

 

$0

$9,600,000

0

 

INITIAL - FISCAL YEAR 1997-1998

 

 

 

 

 

 

 

 

 

BA-7 TRANSACTIONS:

$0

$0

0

 

None

 

 

 

 

 

$0

$9,600,000

0

 

EXISTING OPERATING BUDGET - December 10, 1997

 

 

 

 

 

$0

$800,000

0

 

Adjustment to reflect official estimate set by the Louisiana Revenue Estimating Conference (R.E.C.) at its February 18, 1998 meeting

 

 

 

 

 

$0

$10,400,000

0

 

TOTAL RECOMMENDED

 

 

 

 

 

$0

$800,000

0

 

DIFFERENCE (TOTAL RECOMMENDED AND EXISTING OPERATING BUDGET)

The total means of financing for this program is recommended at 108.3% of the existing operating budget. It represents 107.2% of the total request ($9,700,000) for this program. The total request was preliminary pending the Louisiana Revenue Estimating Conference setting the official projection for this constitutional dedication for Fiscal Year 1999. The total recommended reflects the official estimate set at the R.E.C.'s meeting on February 18, 1998.

PROFESSIONAL SERVICES

This program does not have funding for Professional Services for Fiscal Year 1998-1999.

OTHER CHARGES

$10,400,000

 

Highway Fund #2 - Motor Vehicle Tax

 

 

 

$10,400,000

 

TOTAL OTHER CHARGES

ACQUISITIONS AND MAJOR REPAIR

This program does not have funding for Acquisitions and Major Repairs for Fiscal Year 1998-1999.

22 NON-APPROPRIATED REQUIREMENTS OF STATE GOVERNMENT


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