Transportation 2035 - State of Rhode Island: Division of Planning

December 2012Transportation Elements Sink Units Tread Water Units Swim Units Win the Race Units AssumptionsGARVEE* 58.00 $0.00 $0.00 GARVEE debt service will be complete by 2026.Other debt service** 35.00Total with debt service 453.50 *Ends in 2022 at $16.5m per year (peaks 2017-2019 at $51m).**Increases from $41m in 2009 to $63m in 2023 per year if this practice continues.There will be a transition period between scenarios in which old debt must be paid down.Debt service covered by gasoline tax is scheduled to increase dramaticallyunless a new source of match funding is found. The assumption is that a newsource will be found and that RIDOT will pay a declining amount of debtservice until the principle balance is paid.STATE REVENUE SOURCES Sink Units Tread Water Units Swim Units Win the Race UnitsGAS TAX 132.00 0.30 205.00 0.45 273.00 0.60 341.00 0.75 Each penny yields 4.55 millionREGISTRATION FEES 0.00 50.00 75.00 100.00 Requires diversion of current revenue in Tread; increase in Swim and WinVEHICLE SALES TAX 0.00 80.00 7% 80.00 7% 80.00 7% Requires diversion of current revenueTOLLS 0.00 30.00 50.00 60.00 Does not include Newport Bridge tollsGAS SALES TAX 0.00 0.00 0.00 80.00 7% 4.55 million gallons, $2.50 per gallon, 7% taxGEN OBLIGATION BONDS 40.00 0.00 0.00 0.00FAREBOX 20.00 35.00 40.00 55.00 25% farebox recovery of bus and rail operationsOTHER 12.00 15.00 17.00 20.00 Advertising, land sales, other miscellaneous revenueSTATE Subtotal 204.00 415.00 535.00 736.00FEDERAL REVENUEFHWA 200.00 210.00 250.00 310.00NHTSA 6.00 2.00 2.00 5.00FTA 45.00 55.00 75.00 100.00TOTAL 455.00 682.00 862.00 1151.00ALTERNATIVE FUNDINGMILEAGE TAX 423.00 5.1 632.00 7.6 805.00 9.7 1076.00 13.0Pennies per mile tax to replace all state and federal revenue except Fareboxand Other. 8.3 Billion VMT per year in RI.Transportation 2035 (2012 Update)State Guide Plan Element 611Rhode Island Statewide Planning Program C-4