Governor Rendell’s plan to fund mass transit by taxing oil company profits hinges on whether consumers can be shielded from the tax, according to Revenue Secretary Tom Wolf.

In his budget address earlier this month, the governor proposed a tax on oil company profits that would raise $760 million. According to the Transportation Funding and Reform Commission, that is the amount needed to close the funding gap for mass transit systems in Pennsylvania.

Some legislators have expressed doubt that consumers can be shielded from the tax, but the governor has expressed confidence that they can.

Wolf, in a hearing before the House Appropriations Committee, said the governor would likely search for a different funding source if it’s not possible to prevent oil companies from passing the tax along at the gas pump.

SEPTA has recently noted that it needs more than $1 billion in funding over the next five years, beginning with a $140 million deficit in the 2008 fiscal year. The agency’s fiscal year begins July 1. The Port Authority of Allegheny County, Pittsburgh’s transit system, has about an $80 million deficit this year alone.

To fund highway system repairs, Rendell proposed to lease the Pennsylvania Turnpike, which he estimated would bring a one-time payment of $10 billion to $12 billion, which would be placed in a trust fund and would generate $965 million per year. The commission said $965 million would close the bridge and highway portion of the funding gap, but it would provide for virtually no capacity improvements.

The proposed lease of the Turnpike, along with other public private partnerships, will be the topic of discussion at a February 27 conference sponsored by the Associated Pennsylvania Constructors (www.a3pc.com)