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WES MOORE, Governor Ch. 717

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(III) SUBJECT TO PARAGRAPH (4) OF THIS SUBSECTION, THE TRANSPORTATION NETWORK COMPANY IMPACT FEE IS 50 CENTS FOR EACH SHARED PASSENGER TRIP.

(4) (I) 1. IN THIS SUBPARAGRAPH, “CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS” MEANS THE INDEX PUBLISHED MONTHLY BY THE BUREAU OF LABOR STATISTICS OF THE U.S. DEPARTMENT OF LABOR THAT IS THE U.S. CITY AVERAGE OF ALL ITEMS IN A BASKET OF CONSUMER GOODS AND SERVICES.

2. THE PERCENTAGE GROWTH IN THE CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS SHALL BE DETERMINED BY COMPARING THE AVERAGE OF THE INDEX FOR THE 12 MONTHS ENDING ON THE PRECEDING APRIL 30 TO THE AVERAGE OF THE INDEX FOR THE PRIOR 12 MONTHS.

(II) THE TRANSPORTATION NETWORK COMPANY IMPACT FEE SHALL BE INCREASED ON JULY 1, 2028, AND ON JULY 1 EACH SUBSEQUENT YEAR IN ACCORDANCE WITH THIS PARAGRAPH.

(III) ON OR BEFORE JUNE 1 EACH YEAR, THE COMPTROLLER SHALL DETERMINE AND ANNOUNCE:

1. THE GROWTH IN THE CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS AS DETERMINED BY THE COMPTROLLER UNDER SUBPARAGRAPH (I) OF THIS PARAGRAPH; AND

2. THE TRANSPORTATION NETWORK COMPANY IMPACT FEE EFFECTIVE FOR THE FISCAL YEAR BEGINNING ON THE FOLLOWING JULY 1 AS DETERMINED BY THE COMPTROLLER UNDER SUBPARAGRAPH (IV) OF THIS PARAGRAPH.

(IV) SUBJECT TO SUBPARAGRAPH (V) OF THIS PARAGRAPH, ON JULY 1 EACH YEAR, THE TRANSPORTATION NETWORK COMPANY IMPACT FEE SHALL BE INCREASED BY THE AMOUNT, ROUNDED TO THE NEAREST ONE–TENTH OF A CENT, THAT EQUALS THE PRODUCT OF MULTIPLYING:

1. THE TRANSPORTATION NETWORK COMPANY IMPACT FEE IN EFFECT ON THE DATE OF THE COMPTROLLER’S ANNOUNCEMENT UNDER SUBPARAGRAPH (III) OF THIS PARAGRAPH; AND

2. THE PERCENTAGE GROWTH IN THE CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS.