SB 94: Transportation funding: Greenhouse Gas Reduction Fund: Motor Vehicle Fuel Account.

The bill aims to reduce greenhouse gas emissions by transferring a portion of funds from the Greenhouse Gas Reduction Fund to the Motor Vehicle Fuel Account. Starting in the 2026-27 fiscal year, 25% of the annual proceeds from the fund will be transferred to the Motor Vehicle Fuel Account until December 31, 2030. The bill also reduces the motor vehicle fuel tax rate by a specified percentage annually based on the amount transferred from the fund. This reduction will occur starting July 1, 2026, and will remain in effect until January 1, 2031. The funds transferred to the Motor Vehicle Fuel Account will be used to support transportation purposes in the state. The bill makes an appropriation of funds to support these purposes.