Value Capture for Transportation Finance

As vehicles become more fuel-efficient and overall levels of travel stagnate in response to increases in fuel prices, conventional sources of revenue for transportation finance such as taxes on motor fuels have been put under increasing pressure. One potential replacement as a source of revenue is a set of policies collectively referred to as value capture policies. In contrast to fuel taxes and other instruments that impose charges on users of transportation networks, value capture policies seek to generate revenue by extracting a portion of the gains in the value of land that result from improvements to transportation networks. In this paper we identify a set of eight policies that contain elements of the value capture approach. These policies include land value taxes, tax increment financing, special assessments, transportation utility fees, development impact fees, negotiated exactions, joint development, and air rights. We evaluate each of the policies according to four criteria: efficiency, equity, sustainability (in terms of revenue adequacy and stability), and feasibility. The value capture concept is placed within a more general framework of transportation finance that emphasizes the relationship between different types of charges and groups of beneficiaries from transportation investments.Transportation Ð Economics, Land value, Transportation Ð finance and taxation

Spatial Decomposition of Funding Inequality in China's Basic Education: A Four-Level Theil Index Analysis

Various education finance and taxation reforms in the past several decades have substantially changed China’s system for funding basic education, but the present system is still characterized by insufficient funding and large inequalities across localities. Using data of more than 2000 county-level units all over the country during 1998-2005, this study uses Theil index to spatially decompose the pattern of funding inequality in China’s basic education across four geographic and administrative levels. The analysis shows that the level of inequality remained high after the rural taxation and education finance reforms since 2000, despite the efforts to increase education-purpose fiscal transfers to local governments, and that the gaps are especially severe across provinces in the same region and across prefectures in the same province

Rural Taxation Reforms and Compulsory Education Finance in China

In recent decades, the responsibility for the financing of compulsory education in rural China has rested with townships and villages which, with limited tax authority and uneven revenue capacity, increasingly relied on a plethora of arbitrarily imposed fees for funding. To reduce farmers‘ fiscal burdens, since 2000 the central government has installed a series of rural taxation reforms. Correspondingly, the central government shifted the administrative responsibilities of rural compulsory education to the county level in 2001, and implemented a series of policies to make up for the loss of revenues to education. Using a provincial-level dataset from 1998 to 2006, this study examines whether and how the rural taxation reforms have affected the adequacy and equality of compulsory education finance in China, and addresses related theoretical and policy implications from the perspective of intergovernmental fiscal relations

Fiscal Effects of Local Option Sales Tax on School Facilities Funding: Evidence from North Carolina

Since the 1970s, the North Carolina Legislature has authorized its counties to levy four local option sales taxes (LOST). Proceeds from two of them are partially restricted for school capital needs; two other LOST are used to augment counties’ general revenues that may also affect school capital funding. Experiences from other states have raised concerns that the adoption of LOST may increase inequality in school finance, but the empirical results have been mixed. Using a data set of one hundred North Carolina county school districts from 2004 to 2006, this study examines how public school facilities are funded, and investigates whether the adoption of LOST aggravates or alleviates inequality in public school capital revenues in the state

Fiscal Conditions, Political Interests, and Service Outsourcing Decisions: The Case of Georgia Counties

The question why a government chooses a specific service delivery tool to provide public service to its citizenry is a central intellectual inquiry in public administration. This paper develops a framework to explain the production and sector choices of public services by political-economic environment, organizational capacity, service market condition, and nature of service. Using operation and financial data of Georgia county governments during 2000-2006, we apply the framework to analyze Georgia counties’ public service outsourcing decisions, focusing on the effects of fiscal condition and political interests. The logistic regression results show that the choice of external production is negatively associated with government’s revenue raising capacity, managerial capacity, and citizens’ political demand for local control yet positively associated with conservative ideology. The choice of private sector is positively correlated with conservative political interest, increase in discretionary financial resources, and the centrality of government’s position in local service provision market

Generalize Hilbert operator acting on Dirichlet spaces

Let $\mu$ be a positive Borel measure on the interval $[0,1)$. For $\gamma>0$, the Hankel matrix $\mathcal{H}_{\mu,\gamma}=(\mu_{n,k})_{n,k\geq0}$ with entries $\mu_{n,k}=\mu_{n+k}$, where $\mu_{n+k}=\int_{0}^{\infty}t^{n+k}d\mu(t)$. formally induces the operator $$\mathcal{H}_{\mu,\gamma}=\sum_{n=0}^{\infty}\left(\sum_{k=0}^{\infty}\mu_{n,k}a_k\right)\frac{\Gamma(n+\gamma)}{n!\Gamma(\gamma)}z^n,$$ on the space of all analytic functions $f(z)=\sum_{k=0}^{\infty}{a_k}{z^k}$ in the unit disc $\mathbb{D}$. Following ideas from \cite{author3} and \cite{author4}, in this paper, for $0\leq\alpha<2$, $2\leq\beta<4$, $\gamma\geq1$. we characterize the measure $\mu$ for which $\mathcal{H}_{\mu,\gamma}$ is bounded(resp.,compact)from $\mathcal{D}_{\alpha}$ into $\mathcal{D}_{\beta}$.Comment: 7 page

The first anionic thia-fries rearrangement at arene tricarbonylchromium complexes and reactions of phthalimide tricarbonylchromium complexes

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