Act 40 of 2017 provides the state with roughly $500 million in new revenues (once fully implemented in 2022) which must be used solely on repairs and improvements to South Carolina’s roads and bridges. The law also transferred control over SCDOT Commission appointments to the Governor, and provided tax relief to individuals and businesses.
- Increase the motor fuel user fee by 12 cents over the next six years (2 cents per year).
- Increase biennial registration fees on private passenger vehicles by $16.
- Impose an “Infrastructure Maintenance Fee” upon the purchase of a motor vehicle (capped at $500).
- Impose a one-time $250 registration fee for anyone who transfers a motor vehicle from another state to South Carolina.
- Create new registration fees for alternative vehicles: $120 for EV’s & $60 for hybrid vehicles.
- Rolls the truck property tax into the existing registration process for interstate fleets.
- 9-member commission: 7 representing the congressional districts, 2 at-large; all appointed by the governor.
- The 7 congressional appointments are confirmed by bicameral congressional delegation members.
- The 2 at-large appointments must be approved with the advice & consent of both the House and Senate.
- All 9 commissioners serve at the will of the governor.
TAX REBATE & CREDITS
- Refundable Tax Credit based on motor fuel user fee increase and preventative maintenance expenses
- Earned income tax credit
- Two wage earner tax credit
- Tuition tax credits
- Manufacturing, business personal property tax reduction