16.5185 Transfers to the transportation fund.
(1) Beginning on June 30, 2013, in each fiscal year, the secretary shall transfer from the general fund to the transportation fund the greater of the following:
(a) An amount equal to 0.25 percent of the moneys projected to be deposited in the general fund during the fiscal year that are designated as “Taxes" in the summary in s. 20.005 (1), as published in the biennial budget act for that fiscal year.
(b) An amount equal to $35,127,000.
(2m) Beginning on June 30, 2020, in each fiscal year, the secretary shall transfer the unencumbered balance of the petroleum inspection fund on June 30, less an amount sufficient to meet the reserve requirement under this subsection, from the petroleum inspection fund to the transportation fund. The petroleum inspection fund balance after a transfer under this subsection may not be less than 5 percent of gross revenues received during the fiscal year in which the transfer is made.
History: 2011 a. 32; 2017 a. 59.
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