Local infrastructure funding.

Amends the percentage split between the state highway fund and local road and street account to 60%/40%. Amends the allocation percentage for the motor vehicle highway account. Amends the grant amount determination and the maximum amount for grants made from the local road and bridge matching grant fund. Requires the Indiana department of transportation to approve certain eligible projects for a grant from the local road and bridge matching grant fund. Appropriates $300,000,000 from the state general fund or money received by the state from the Infrastructure Investment and Jobs Act, or a combination of both, to the local road and bridge matching grant fund for each state fiscal year of the budget biennium. Changes the allocation determination for distributions from the local road and street account.