What is NEDPAC?
The Nevada Economic Development Political Action Committee (NEDPAC) is made up of Southern Nevada business leaders dedicated to improving Clark County’s economic future by way of implementing a fuel tax index on motor vehicle fuels.
What is the purpose/goal of NEDPAC?
NEDPAC was formed to propose a change to the Nevada Revised Statute to allow Clark County to implement fuel tax indexing.
What is fuel tax indexing?
Indexing fuel taxes will make adjustments to fuel tax rates annually based upon increases in the Producer Price Index (PPI) to offset only the amount of purchasing power lost due to inflation. It gives fuel taxes an important protection against the rising cost of labor & construction materials during periods of inflation.
Who manages the funds?
Funds raised by the fuel tax indexing statute are allocated to the Regional Transportation Commission (RTC) of Southern Nevada for work on unfunded projects in Clark County.
What is achieved by fuel tax indexing?
With each dollar, we can leverage it against four (4) additional federal dollars for roadway transportation improvements. Washoe County, which has gas indexing, is better equipped to chase federal funding because they have more local funds available for the 20% federal match.
What is the financial burden on the public?
- The impact to residents is relatively modest with each household’s annual spending increasing only $33 in Year 1, $67 in Year 2, and $103 in Year 3.
- Visitors will see an increase of only $1.00 per visitor per trip in the first year.
- Diesel truck drivers will see an increase of approximately $0.03 per gallon in the first year.
- If there is no inflation, there will be no increase in the fuel tax rate.