summary
Introduced
02/01/2022
02/01/2022
In Committee
02/08/2022
02/08/2022
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; CHANGING THE DISTRIBUTIONS OF THE MOTOR VEHICLE EXCISE TAX.
AI Summary
This bill changes the distribution of the motor vehicle excise tax in New Mexico. Specifically, it decreases the percentage allocated to the general fund from 59.39% to 55%, increases the percentage allocated to the state road fund from 21.86% to 26.25%, and creates a new allocation of 26.25% to the local governments road fund. The bill takes effect on July 1, 2022.
Committee Categories
Budget and Finance, Transportation and Infrastructure
Sponsors (5)
Rod Montoya (R)*,
James Townsend (R)*,
Cathrynn Brown (R),
Ambrose Castellano (D),
Willie Madrid (D),
Last Action
House Taxation & Revenue Committee (08:30 2/11/2022 Room 317) (on 02/11/2022)
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/Legislation/Legislation?chamber=H&legtype=B&legno=183&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0183.pdf |
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