COLUMBIA, S.C. (AP) - A House proposal would eventually provide more than $600 million additional yearly toward roadwork. Here a look at how:
- The state’s 16-cents-per-gallon gas tax would increase by 2 cents per year over five years. Once fully phased in, the additional 10 cents is estimated to bring in $401 million.
- A new $250 one-time vehicle registration fee is expected to generate $120 million annually. People who move to South Carolina would pay when they first register any vehicle bought in another state.
- Increasing the sales tax cap from $300 to $500 should bring in $70 million in additional revenue. Under a 1984 law, anyone who pays at least $6,000 for a vehicle, boat or plane in South Carolina pays a flat $300 in sales taxes. People buying vehicles worth less pay a 5 percent sales tax. The proposed $500 cap would apply to any vehicle costing at least $10,000.
- Increasing the biennial vehicle registration fee by $16 is expected to bring in $25 million yearly. Currently, the fee is $20 to $30.
- A new tax on out-of-state truckers is expected to bring in $9.5 million annually. The property tax would be based on the miles that commercial trucks licensed with out-of-state fleets drive annually while passing through South Carolina. Truckers already are federally mandated to track miles traveled in every state for other fees and taxes.
- The bill creates a $60 fee for hybrids and $120 fee for electric vehicles, paid every other year. They are collectively estimated to bring in $1.35 million annually.
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