Sets the allocation to RIPTA at the greater of $0.1175 per gallon or 29.375% of total proceeds, with $0.005 per gallon derived from the $0.01 per gallon environmental protection fee.

Plain-English Summary

This bill deals with how Rhode Island distributes money collected from the state's gas tax. Currently, a portion of gas tax revenue is sent to the Rhode Island Public Transit Authority (RIPTA), which runs the state's public bus system. This bill would set a specific formula for how much of that gas tax money RIPTA receives: either $0.1175 (about 11.75 cents) per gallon of gas sold, or 29.375% of the total gas tax proceeds — whichever amount is greater. The bill also specifies that half of a separate environmental protection fee (0.5 cents from the existing 1-cent-per-gallon environmental fee) would be counted as part of RIPTA's share.

In practical terms, this means RIPTA's funding would be guaranteed to meet at least one of these two thresholds, giving the agency a more predictable and potentially more stable source of income. If gas tax revenues are high, RIPTA would receive a percentage-based share, but if that percentage falls short, the flat per-gallon amount would serve as a floor to protect against funding drops.

This bill primarily affects Rhode Island commuters and residents who rely on public buses, as well as RIPTA itself and state budget planners. Stable or increased funding could help maintain or improve bus service across the state. The bill was introduced in the Senate and referred to the Senate Finance Committee, which has recommended holding it for further study, meaning it has not yet moved forward in the legislative process.