The Highway Fund is a fund established in the Maine Constitution (Article IX, Section 19) and by
statute (23 MRSA c. 19, sub-c. IV, sections 1651-1653) for:
a. the maintenance, construction and reconstruction of Maine highways and bridges;
b. administrative costs incurred in the construction and maintenance of highways; and
c. expenses for state enforcement of traffic laws.
The Highway Fund derives its revenue from a gasoline and diesel fuel tax, taxes on motor truck
carriers, motor vehicle license and registration fees, portions of revenues from over weight fines,
and other miscellaneous sources. The following represents a breakdown of the budgeted revenue
for the Highway Fund for FY 2001-02 and FY 2002-03. Fuel taxes and motor vehicle fees currently
make up just over 94% of the budgeted revenue for the 2002-2003 biennium.
BUDGETED REVENUE FOR FY 2001-02 AND FY
2002-03
| %
of BIENNIAL TOTAL |
SOURCE |
2001-02 |
2002-03 |
||||
| 66.00% | FUEL TAXES | $179,876,344 | $187,500,000 | ||||
| 28.59% | MOTOR VEHICLE LICENSES AND FEES | $77,418,092 | $81,690,336 | ||||
| 1.26% | MOTOR VEHICLE INSPECTION FEES | $3,338,354 | $3,683,907 | ||||
| 1.05% | FINES | $2,780,982 | $3,057,180 | ||||
| 0.79% | EARNINGS ON INVESTMENTS | $3,000,000 | $1,418,000 | ||||
| 2.31% | OTHER REVENUES | $5,934,085 | $6,897,144 | ||||
| 100.00% | TOTALS | $272,347,857 | $284,246,567 | ||||
| $556,594,424 | |||||||
Reflects all actions
through the 1st Regular Session of the 121st Legislature.
Amounts may not add to 100% due to rounding.