(b) the initial road impact registration fee that would be imposed under this section. (2) At the time of the sale, the seller shall: (a) obtain from the purchaser a notarized statement of the purchasers intent to license the motor vehicle, motorcycle, or recreational vehicle, including tent campers, travel trailers, park models, park trailers, motor homes, and fifth wheels, within ten days, in the purchasers state of residence; and (b) retain a signed copy of the notarized statement. The purchaser shall give a copy to the appropriate agency of the purchasers state of residence. (3) No fee is due if a nonresident will not receive credit in his state of residence for the fee paid to this State under this section. (E) Beginning with Fiscal Year 201516, the revenue generated pursuant to this section shall be credited to: (1) the South Carolina Education Improvement Act Fund, an amount that shall not exceed the amount that the South Carolina Education Improvement Act Fund recieved in Fiscal Year 201314 from the sale of transportation devices that were subject to the provisions of Section 12-36-2110; and (2) the remainder of the revenue generated after the South Carolina Education Improvement Act Fund has recieved the proper amount of revenue shall be distributed to the Department of Transportation. Upon receiving the revenue distribution pursuant to this item, the Department of Transportation shall transfer fifty percent of that revenue to the South Carolina State Transportation Infrastructure Bank. Revenue transferred to the bank pursuant to this item may not be used for projects approved by the bank before July 1, 2013. The bank shall submit all projects proposed to be financed by revenue generated pursuant to this section to the Joint Bond Review Committee as provided in Section 11-43-180, prior to approving a project for financing. The other fifty percent of the revenue transferred to the department pursuant to this item shall be retained by the department and credited to the State Non-Federal Aid Highway Fund to be used exclusively for highway, road, and bridge maintenance, construction, and repair.” H. This SECTION takes effect on July 1, 2015. SECTION 2. If any section, subsection, paragraph, subparagraph, sentence, clause, phrase, or word of this act is for any reason held to be unconstitutional or invalid, such holding shall not affect the
(b) the initial road impact registration fee that would be imposed under this section. (2) At the time of the sale, the seller shall: (a) obtain from the purchaser a notarized statement of the purchasers intent to license the motor vehicle, motorcycle, or recreational vehicle, including tent campers, travel trailers, park models, park trailers, motor homes, and fifth wheels, within ten days, in the purchasers state of residence; and (b) retain a signed copy of the notarized statement. The purchaser shall give a copy to the appropriate agency of the purchasers state of residence. (3) No fee is due if a nonresident will not receive credit in his state of residence for the fee paid to this State under this section. (E) Beginning with Fiscal Year 201516, the revenue generated pursuant to this section shall be credited to: (1) the South Carolina Education Improvement Act Fund, an amount that shall not exceed the amount that the South Carolina Education Improvement Act Fund recieved in Fiscal Year 201314 from the sale of transportation devices that were subject to the provisions of Section 12-36-2110; and (2) the remainder of the revenue generated after the South Carolina Education Improvement Act Fund has recieved the proper amount of revenue shall be distributed to the Department of Transportation. Upon receiving the revenue distribution pursuant to this item, the Department of Transportation shall transfer fifty percent of that revenue to the South Carolina State Transportation Infrastructure Bank. Revenue transferred to the bank pursuant to this item may not be used for projects approved by the bank before July 1, 2013. The bank shall submit all projects proposed to be financed by revenue generated pursuant to this section to the Joint Bond Review Committee as provided in Section 11-43-180, prior to approving a project for financing. The other fifty percent of the revenue transferred to the department pursuant to this item shall be retained by the department and credited to the State Non-Federal Aid Highway Fund to be used exclusively for highway, road, and bridge maintenance, construction, and repair.” H. This SECTION takes effect on July 1, 2015. SECTION 2. If any section, subsection, paragraph, subparagraph, sentence, clause, phrase, or word of this act is for any reason held to be unconstitutional or invalid, such holding shall not affect the