§ 264-122 Highway development special fund.

238 words·~1 min read·/hi/chapter-264/264-122

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(a)There is established in the state treasury the highway development special fund to be administered by the department, into which shall be deposited:

(1)Transfers of county impact fees assessed under part VIII of chapter 46 and this part to pay for state highway improvements;

(2)Interest from investment of deposits; and

(3)Legislative and county appropriations.

(b)Moneys in the highway development special fund shall be used for the following purposes:

(1)Capital costs of qualifying proposed state highway improvements;

(2)Reevaluation of the need, geographic limitations, amount, and use of impact fees;

(3)Transfers to reimburse other special funds for expenditures which otherwise might have been funded with moneys in the highway development special fund;

(4)Transfers under sections 36-27 and 36-30;

(5)Refunds under section 264-125; and

(6)The department's costs to implement this part, including but not limited to costs to administer the highway development special fund.

(c)The department may establish accounts in the highway development special fund as necessary to implement this part and rules adopted by the department.

(d)There is established within the highway development special fund an electric bicycle and electric moped subaccount. The department shall expend moneys in the subaccount for the purposes of funding the electric bicycle and electric moped rebate program established pursuant to section 196-7.8. [L 2004, c 155, pt of §2; am L 2022, c 306, §3]