Blue Ribbon Committee on Highway Finance – October 14, 2009

Posted on October 14th, 2009

Date & Time: Wednesday, October 14, 2009 at 1:30 PM
Location: Room 171, State Capitol
Committee Information: Members on Committee
Agenda: http://www.arkleg.state.ar.us/assembly/2009/Lists/Meetings/Attachments/12251/I7851.pdf
Attachments: none

1:30 pm – Apparently I was mistaken about the start time of this committee. It began at 1:00 pm instead of 1:30 pm. My apologies.

1:32 pm – We are currently covering the option to index revenue. This presentation is by Richard Wilson, the Assistant Director for Research Services, Bureau of Legislative Research. There was also a followup from the Federal Highway Adminstration Presentation at the August Meeting.

1:35 pm – Nominal vs. Adjusted Motor Fuel Tax Revenue graphs show that the MFTR non idexed has flat lined since 2002 at about $400 million dollars.

1:37 pm – There is some discussion about the ability to toll an interstate highway. Apparently this can only be done if additional capacity is being added such as a frieght transport lane.

1:38 pm – Wow, short meeting today. The committee is ajourned.

The graphs showing various index measures show that if the Motor Fuel Tax Revenue (MFTR) had been indexed to the CPI it would have risen to more than $850 million. If indexed to the Construction Cost Index (CCI) it would have increased to over $1.2 billion. Another index the CCI3 shows that it would be at about $1 billion.

We were also presented with a graph showing that General Revenue passed MFTR in 2005 for the first time since 1985.

I missed the presention of the report from the Revenue Transfer Subcommittee and the New Revenue Subcommittees, but the live blog I did earlier today would have covered the New Revenue Subcommittee information. I will have to follow up on what occured in the Revenue Transfer Subcommittee.

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