(A)   Creation of fund. There is hereby created a municipal wheel tax fund, which shall be a non-reverting fund. Revenues received from the Department of Motor Vehicles from taxes imposed under this section shall be deposited into the fund.
   (B)   Tax rates. Effective August 1, 2020, and in accordance with I.C. 6-3.5-11-2(d), the wheel tax shall be imposed on the following non-exempt vehicles at the following rates:
      (1)   Buses: $40 per year;
      (2)   Recreational vehicles: $40 per year;
      (3)   Semitrailers: $40 per year;
      (4)   Tractors: $40 per year;
      (5)   Trailers: $40 per year; and
      (6)   Trucks: $40 per year.
   (C)   Vehicle definitions. The definitions set forth in the Act shall apply to this section.
   (D)   Uses of fund. Funds in the municipal wheel tax fund may be used for one or more of the following purposes:
      (1)   To construct, reconstruct, repair, or maintain streets and roads under the city's jurisdiction;
      (2)   As a contribution to an authority established under I.C. 36-7-23; or
      (3)   For the city's contribution to obtain a grant from the local road and bridge matching grant fund under I.C. 8-23-30.
   (E)   Transportation asset management plan. The Mayor shall prepare a transportation asset management plan as required in § 34.01(E).
   (F)   Accounting of fund. On or before August 1 of each year, the Clerk-Treasurer shall provide the Common Council an estimate of the wheel tax revenues to be received by the city under this section during the next calendar year. The city shall include the estimated wheel tax revenues in the city's budget estimate for the calendar year.
(Ord. G-20-10, passed 7-21-2020)