(1) There is created a special revenue fund within the Transportation Fund known as the "County of the First Class Highway Projects Fund."
(2) The fund consists of money generated from the following revenue sources:
(2)(a) any voluntary contributions received for new construction, major renovations, and improvements to highways within a county of the first class;
(2)(b) the portion of the sales and use tax described in Subsection 59-12-2214(3)(b) deposited into or transferred to the fund;
(2)(c) the portion of the sales and use tax described in Section 59-12-2217 deposited into or transferred to the fund;
(2)(d) a portion of the local option highway construction and transportation corridor preservation fee imposed in a county of the first class under Section 41-1a-1222 deposited into or transferred to the fund; and
(2)(e) the portion of the sales and use tax transferred into the fund as described in Subsections 59-12-2220(4)(a) and 59-12-2220(11)(b).
(3) (3)(a) The fund shall earn interest.
(3)(b) All interest earned on fund money shall be deposited into the fund.
(4) Subject to Subsection (11), the executive director shall use the fund money only:
(4)(a) to pay debt service and bond issuance costs for bonds issued under Sections 63B-16-102, 63B-18-402, and 63B-27-102;
(4)(b) for right-of-way acquisition, new construction, major renovations, and improvements to highways within a county of the first class and to pay any debt service and bond issuance costs related to those projects, including improvements to a highway located within a municipality in a county of the first class where the municipality is located within the boundaries of more than a single county;
(4)(c) for the construction, acquisition, use, maintenance, or operation of:
(4)(c)(i) an active transportation facility for nonmotorized vehicles;
(4)(c)(ii) multimodal transportation that connects an origin with a destination; or
(4)(c)(iii) a facility that may include a:
(4)(c)(iii)(A) pedestrian or nonmotorized vehicle trail;
(4)(c)(iii)(B) nonmotorized vehicle storage facility;
(4)(c)(iii)(C) pedestrian or vehicle bridge; or
(4)(c)(iii)(D) vehicle parking lot or parking structure;
(4)(d) to transfer to the 2010 Salt Lake County Revenue Bond Sinking Fund created by Section 72-2-121.3 the amount required in Subsection 72-2-121.3(4)(c) minus the amounts transferred in accordance with Subsection 72-2-124(4)(a)(v);
(4)(e) for a fiscal year beginning on or after July 1, 2013, to pay debt service and bond issuance costs for $30,000,000 of the bonds issued under Section 63B-18-401 for the projects described in Subsection 63B-18-401(4)(a);
(4)(f) for a fiscal year beginning on or after July 1, 2013, and after the department has verified that the amount required under Subsection 72-2-121.3(4)(c) is available in the fund, to transfer an amount equal to 50% of the revenue generated by the local option highway construction and transportation corridor preservation fee imposed under Section 41-1a-1222 in a county of the first class:
(4)(f)(i) to the legislative body of a county of the first class; and
(4)(f)(ii) to be used by a county of the first class for:
(4)(f)(ii)(A) highway construction, reconstruction, or maintenance projects; or
(4)(f)(ii)(B) the enforcement of state motor vehicle and traffic laws;
(4)(g) for a fiscal year beginning on or after July 1, 2015, after the department has verified that the amount required under Subsection 72-2-121.3(4)(c) is available in the fund and the transfer under Subsection (4)(e) has been made, to annually transfer an amount of the sales and use tax revenue imposed in a county of the first class and deposited into the fund in accordance with Subsection 59-12-2214(3)(b) equal to an amount needed to cover the debt to:
(4)(g)(i) the appropriate debt service or sinking fund for the repayment of bonds issued under Section 63B-27-102; and
(4)(g)(ii) the appropriate debt service or sinking fund for the repayment of bonds issued under Sections 63B-31-102 and 63B-31-103;
(4)(h) after the department has verified that the amount required under Subsection 72-2-121.3(4)(c) is available in the fund and after the transfer under Subsection (4)(d), the payment under Subsection (4)(e), and the transfer under Subsection (4)(g)(i) has been made, to annually transfer $2,000,000 to a public transit district in a county of the first class to fund a system for public transit;
(4)(i) for a fiscal year beginning on or after July 1, 2018, after the department has verified that the amount required under Subsection 72-2-121.3(4)(c) is available in the fund and after the transfer under Subsection (4)(d), the payment under Subsection (4)(e), and the transfer under Subsection (4)(g)(i) has been made, through fiscal year 2027, to annually transfer 20%, and beginning with fiscal year 2028, and each year thereafter for 20 years, to annually transfer 33% of the amount deposited into the fund under Subsection (2)(b) to the legislative body of a county of the first class for the following purposes:
(4)(i)(i) to fund parking facilities in a county of the first class that facilitate significant economic development and recreation and tourism within the state; and
(4)(i)(ii) to be used for purposes allowed in Section 17-78-702;
(4)(j) subject to Subsection (5), for a fiscal year beginning on or after July 1, 2021, and for 15 years thereafter, to annually transfer the following amounts to the following cities and the county of the first class for priority projects to mitigate congestion and improve transportation safety:
(4)(j)(i) $2,000,000 to Sandy;
(4)(j)(ii) $2,300,000 to Taylorsville;
(4)(j)(iii) $1,100,000 to Salt Lake City;
(4)(j)(iv) $1,100,000 to West Jordan;
(4)(j)(v) $1,100,000 to West Valley City;
(4)(j)(vi) $800,000 to Herriman;
(4)(j)(vii) $700,000 to Draper;
(4)(j)(viii) $700,000 to Riverton;
(4)(j)(ix) $700,000 to South Jordan;
(4)(j)(x) $500,000 to Bluffdale;
(4)(j)(xi) $500,000 to Midvale;
(4)(j)(xii) $500,000 to Millcreek;
(4)(j)(xiii) $500,000 to Murray;
(4)(j)(xiv) $400,000 to Cottonwood Heights; and
(4)(j)(xv) $300,000 to Holladay;
(4)(k) for the 2024-25, 2025-26, and 2026-27 fiscal years, and subject to revenue balances after the distributions under Subsection (4)(j), to reimburse the following municipalities for the amounts and projects indicated, as each project progresses and as revenue balances allow:
(4)(k)(i) $3,200,000 to South Jordan for improvements to Bingham Rim Road from Grandville Avenue to Mountain View Corridor;
(4)(k)(ii) $1,960,000 to Midvale for improvements to Center Street between State Street and 700 West;
(4)(k)(iii) $3,500,000 to Salt Lake City for first and last mile public transit improvements throughout Salt Lake City;
(4)(k)(iv) $1,500,000 to Cottonwood Heights for improvements to Fort Union Boulevard and 2300 East;
(4)(k)(v) $3,450,000 to Draper for improvements to Bangerter Highway between 13800 South and I-15;
(4)(k)(vi) $10,500,000 to Herriman to construct a road between U-111 and 13200 South;
(4)(k)(vii) $3,000,000 to West Jordan for improvements to 1300 West;
(4)(k)(viii) $1,050,000 to Riverton for improvements to the Welby Jacob Canal Trail between 11800 South and 13800 South;
(4)(k)(ix) $3,500,000 to Taylorsville for improvements to Bangerter Highway and 4700 South;
(4)(k)(x) $470,000 to the department for construction of a sound wall on Bangerter Highway at approximately 11200 South;
(4)(k)(xi) $1,250,000 to Murray for improvements to Murray Boulevard between 4800 South and 5300 South;
(4)(k)(xii) $1,840,000 to Magna for construction and improvements to 8400 West and 4100 South;
(4)(k)(xiii) $1,000,000 to South Jordan for construction of arterial roads connecting U-111 and Old Bingham Highway;
(4)(k)(xiv) $1,200,000 to Millcreek for reconstruction of and improvements to 2000 East between 3300 South and Atkin Avenue;
(4)(k)(xv) $1,230,000 to Holladay for improvements to Highland Drive between Van Winkle Expressway and Arbor Lane;
(4)(k)(xvi) $1,000,000 to Taylorsville for improvements to 4700 South at the I-215 interchange;
(4)(k)(xvii) $3,750,000 to West Valley City for improvements to 4000 West between 4100 South and 4700 South and improvements to 4700 South from 4000 West to Bangerter Highway;
(4)(k)(xviii) $1,700,000 to South Jordan for improvements to Prosperity Road between Crimson View Drive and Copper Hawk Drive;
(4)(k)(xix) $2,300,000 to West Valley City for a road connecting U-111 at approximately 6200 South, then east and turning north and connecting to 5400 South;
(4)(k)(xx) $1,400,000 to Magna for improvements to 8000 West between 3500 South to 4100 South;
(4)(k)(xxi) $1,300,000 to Taylorsville for improvements on 4700 South between Redwood Road and 2700 West; and
(4)(k)(xxii) $3,000,000 to West Jordan for improvements to 1300 West between 6600 South and 7800 South; and
(4)(l) for a fiscal year beginning on or after July 1, 2026, and for 15 years thereafter, to pay debt service and bond issuance costs for $70,000,000 of the bonds issued under Section 63B-34-201 for the grants awarded under Part 5, Affordable Housing Infrastructure Grants.
(5) (5)(a) If revenue in the fund is insufficient to satisfy all of the transfers described in Subsection (4)(j), the executive director shall proportionately reduce the amounts transferred as described in Subsection (4)(j).
(5)(b) A local government may not use revenue described in Subsection (4)(j) to supplant existing class B or class C road funds that a local government has budgeted for transportation projects.
(6) The revenues described in Subsections (2)(b), (c), and (d) that are deposited into the fund and bond proceeds from bonds issued under Sections 63B-16-102, 63B-18-402, and 63B-27-102 are considered a local matching contribution for the purposes described under Section 72-2-123.
(7) The department may expend up to $3,000,000 of revenue deposited into the account as described in Subsection 59-12-2220(11)(b) for public transit innovation grants, as provided in Part 4, Public Transit Innovation Grants.
(8) The additional administrative costs of the department to administer this fund shall be paid from money in the fund.
(9) Subject to Subsection (11), and notwithstanding any statutory or other restrictions on the use or expenditure of the revenue sources deposited into this fund, the Department of Transportation may use the money in this fund for any of the purposes detailed in Subsection (4).
(10) Subject to Subsection (11), any revenue deposited into the fund as described in Subsection (2)(e) shall be used to provide funding or loans for public transit projects, operations, and supporting infrastructure in the county of the first class.
(11) For the first three years after a county of the first class imposes a sales and use tax authorized in Section 59-12-2220, revenue deposited into the fund as described in Subsection (2)(e) shall be allocated as follows:
(11)(a) 10% to the department to construct an express bus facility on 5600 West; and
(11)(b) 90% into the County of the First Class Infrastructure Bank Fund created in Section 72-2-302.