summary
Introduced
01/31/2021
01/31/2021
In Committee
02/24/2021
02/24/2021
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; INCREMENTALLY INCREASING THE GASOLINE TAX AND THE SPECIAL FUEL EXCISE TAX.
AI Summary
This bill incrementally increases the gasoline tax and the special fuel excise tax in New Mexico over a period of 5 years. The gasoline tax will increase from the current rate of $0.17 per gallon to $0.22 per gallon by July 1, 2025. The special fuel excise tax will increase from the current rate of $0.21 per gallon to $0.26 per gallon by July 1, 2025. These tax increases are intended to raise revenue for the state, likely for infrastructure or transportation-related projects.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Senate Finance Committee (00:00 3/5/2021 Room 322) (on 03/05/2021)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=168&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0168.pdf |
Loading...