Section 5. Highway User Tax Distribution Fund
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Highway User Tax Distribution Fund
There is hereby created a highway user tax distribution fund to be used solely for highway purposes as specified in this article. The fund consists of the proceeds of any taxes authorized by sections 9 and 10 of this article. The net proceeds of the taxes shall be apportioned: 62 percent to the trunk highway fund; 29 percent to the county state-aid highway fund; nine percent to the municipal state-aid street fund. Five percent of the net proceeds of the highway user tax distribution fund may be set aside and apportioned by law to one or more of the three foregoing funds. The balance of the highway user tax distribution fund shall be transferred to the trunk highway fund, the county state-aid highway fund, and the municipal state-aid street fund in accordance with the percentages set forth in this section. No change in the apportionment of the five percent may be made within six years of the last previous change.
Highway User Tax Distribution Fund
There is hereby created a fund which shall be known as the highway user tax distribution fund. The highway user tax distribution fund shall be used solely for highway purposes as specified in this article. Said fund shall consist of the proceeds of any taxes authorized to be imposed by sections 9 and 10 of this article. After the deduction of collection costs as provided by law and the payment of refunds authorized by law, the net proceeds of such taxes shall be transferred to the following funds in the following proportions; 62 percent to the trunk highway fund; 29 percent to the county state-aid highway fund; nine percent to the municipal state-aid street fund. After January 1, 1963, the legislature is authorized to provide by law that five percent of the net proceeds of the highway user tax distribution fund may be set aside and if so set aside shall be apportioned as provided by law to one or more of the three foregoing funds on such basis as the legislature may determine. After said five percent may have been so set aside the balance of the highway user tax distribution fund shall in all events be transferred to the trunk highway fund, the county state aid highway fund, and the municipal state aid street fund in accordance with the percentages hereinbefore set forth. No change in the apportionment of the proceeds so set aside shall be made within six years of the commencement of the year in which the last previous change occurred.