summary
Introduced
02/02/2021
02/02/2021
In Committee
03/19/2021
03/19/2021
Crossed Over
03/06/2021
03/06/2021
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; CHANGING A DISTRIBUTION OF THE MOTOR VEHICLE EXCISE TAX FROM THE LOCAL GOVERNMENTS ROAD FUND TO THE TRANSPORTATION PROJECT FUND.
AI Summary
This bill changes the distribution of the motor vehicle excise tax in New Mexico. Prior to July 1, 2021, the distribution was 71.89% to the general fund, 3.11% to the state road fund, and 25% to the Department of Transportation for emergency road conditions. Starting July 1, 2021, the distribution will be 59.39% to the general fund, 21.86% to the state road fund, and 18.75% to the transportation project fund instead of the local governments road fund.
Committee Categories
Budget and Finance, Transportation and Infrastructure
Sponsors (1)
Last Action
STBTC: Reported by committee with Do Pass recommendation (on 03/19/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=228&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/house/HB0228.pdf |
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