A Missouri House Committee has moved through legislation intended to fund Missouri’s transportation system. The legislation is a bill that has come over from the senate. Senate Bill 262 is projected to provide $500 million dollars of additional funding annually to the Missouri Department of Transportation.
Senator Dave Schatz is the sponsor of the legislation. The bill would phase in an increase of 2.5 cents each year over 5 years. The legislation would also include a rebate mechanism so that drivers who do not wish to pay the increase could get their money back.
The legislation also phases in increased fees for electric vehicles.