An Act Creating the Special Mass Transit System Support Fund, Reallocating the Disposition of Monies Collected From the Motor Vehicle User’s Charge, Amending for the Purpose Sections 7 and 8 Of Republic Act No. 8794, Otherwise Known As The “Motor Vehicle User’s Charge Act Of 2000”.
- The bill aims to optimize the use of the MVUC Fund by allocating a portion of the collection to the construction, improvement and rehabilitation of our mass transit system.
- It creates a new fund to be known as the Special Mass Transit System Support Fund
- The bill repeals the 7.5% Special Road Safety Fund and the 7.5% Special Vehicle Pollution Control Fund.
- The new formula shall be:
- 25% Special Road Support Fund currently at 80%
- 25% Special Local Road Fund currently at 5%
- 50% Special Mass Transit System Support Fund