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Brief
The Fuel Indexation (Road Funding) Special Account Act 2015 is an Act that establishes a special account to manage the revenue generated from fuel indexation on customs and excise duties. The purpose of this account is to provide funding for Australian road infrastructure investment.
The Act sets up two main types of accounts: one for credits and another for debits, which are used to determine how much revenue is transferred to the Federation Reform Fund.
The Fuel Indexation (Road Funding) special account is established by section 7 of the Act, and it is a special account for the purposes of the Public Governance, Performance and Accountability Act 2013.
Section 8 allows the Treasurer to make determinations about how much to credit to the Fuel Indexation (Road Funding) special account. The direction must be expressed in order to enable the amount to be credited to the Federation Reform Fund.
The purpose of the Fuel Indexation (Road Funding) special account is to ensure that amounts equal to the fuel indexation amount are transferred to the Federation Reform Fund in order to provide funding to the States and Territories for expenditure in relation to Australian road infrastructure investment.
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