summary
Introduced
01/23/2024
01/23/2024
In Committee
Crossed Over
Passed
Dead
02/06/2024
02/06/2024
Introduced Session
2024 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; AMENDING THE LIQUOR EXCISE TAX ACT; IMPOSING THE TAX ON RETAILERS; PROVIDING AN EXEMPTION; CHANGING THE RATES OF THE TAX TO A PERCENTAGE BASIS; AMENDING DEFINITIONS IN THE LIQUOR EXCISE TAX ACT; ELIMINATING FORTIFIED WINE AS A SPECIFIC TYPE OF ALCOHOLIC BEVERAGE; CHANGING THE DISTRIBUTIONS OF THE TAX; EXCLUDING THE LIQUOR EXCISE TAX FROM THE DEFINITION OF "GROSS RECEIPTS" IN THE GROSS RECEIPTS AND COMPENSATING TAX ACT; REPEALING THE LOCAL DWI GRANT PROGRAM ACT AND SECTIONS OF THE LIQUOR EXCISE TAX ACT.
AI Summary
This bill makes several changes to the Liquor Excise Tax Act in New Mexico. It imposes the liquor excise tax on retailers instead of wholesalers, changes the tax rates to a percentage-based system, eliminates "fortified wine" as a specific alcoholic beverage type, creates a new "Alcohol and Substance Use Harms Alleviation Fund" to be funded by the liquor excise tax, repeals the Local DWI Grant Program Act, and excludes the liquor excise tax from the definition of "gross receipts" for the Gross Receipts and Compensating Tax Act. The bill also provides a temporary provision to transfer any unexpended balance from the Local DWI Grant Fund to the new Alcohol and Substance Use Harms Alleviation Fund.
Committee Categories
Health and Social Services
Sponsors (4)
Last Action
House Taxation & Revenue Committee (08:30:00 2/9/2024 Room 317) (on 02/09/2024)
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=213&year=24 |
| BillText | https://www.nmlegis.gov/Sessions/24%20Regular/bills/house/HB0213.pdf |
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