summary
Introduced
02/11/2021
02/11/2021
In Committee
03/08/2021
03/08/2021
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO REGIONAL TRANSIT DISTRICTS; PROVIDING THAT REVENUE FROM A REGIONAL TRANSIT GROSS RECEIPTS TAX IMPOSED BY A COUNTY BE DISTRIBUTED DIRECTLY TO THE DISTRICT RATHER THAN TRANSFERRED FROM THE COUNTY TO THE DISTRICT.
AI Summary
This bill changes the distribution of revenue from a county's regional transit gross receipts tax. Currently, the revenue is transferred from the county to the regional transit district. Under this bill, the revenue will be distributed directly to the regional transit district, rather than first being transferred from the county. The bill also allows the taxation and revenue department to withhold an administrative fee of up to 3% of the net amount distributed to the regional transit district.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
STBTC: Reported by committee with Do Not Pass but with a Do Pass recommendation on Committee Substitution (on 03/08/2021)
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=S&legtype=B&legno=372&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0372.pdf |
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