FISCAL NOTE

House Bill 556 as introduced would require that any motor fuel tax, license tax, or other related taxes levied by a county or municipality only be used for road and bridge construction and maintenance. However, this bill would allow the counties and municipalities currently pledging those revenues as security or to fund the payment of bond or debt obligations to continue to do so for up to five years. This bill also requires future motor fuel taxes proposed by a municipality or county to be approved by local referendum, if that locality is currently using any portion of a motor fuel tax for a purpose other than road and bridge construction and maintenance.