Table 7: Tax Revenue Funding Options (millions of dollars)
STATE ADMINISTERED SYSTEM | |||
NET NEED AFTER COST REDUCTIONS | $293.2 | ||
State Bonding | $60.0 | ||
Diesel Tax Revenue | |||
Eliminating Diesel Discount1 | 6.0¢ | $33.6 | |
Replace Discount Sticker2 ($95 out of state / $25 in state) |
2.9¢ | ||
Replace MPSC Authority Fee2 | 0.5¢ | ||
Gasoline Tax Revenues | 4.4¢ | $199.6 | |
Total Net New Tax Revenues | $293.2 | ||
LOCAL ADMINISTERED SYSTEM | |||
NET NEED AFTER COST REDUCTIONS | $192.0 | ||
State Gasoline | |||
Tax for Local Needs Fund | 1.4¢ | $64.0 | |
Local Matching Revenues | $128.0 | ||
Total Net New Tax Revenues | $192.0 | ||
1 Assumes $5.6 million per penny revenue 2 Assumes $6.9 million per penny revenue |
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