Bill > SB372

This bill modifies the Telecommunications Relay Service (TRS) surcharge in New Mexico, changing the existing surcharge from 0.33% of the gross amount paid to a flat rate of fifty-one cents ($0.51) per bill for various telecommunications services. The surcharge applies to intrastate telecommunications services, mobile services, Voice over Internet Protocol (VoIP) services, and prepaid wireless transactions, with exemptions for low-income customers. The bill maintains existing collection procedures, allowing telecommunications companies and sellers to retain 3% of collected surcharges to cover administrative costs. Sellers must separately state the surcharge on customer invoices and remit the funds to the New Mexico Taxation and Revenue Department monthly. The law requires the department to transfer the net surcharge proceeds to the Telecommunications Access Fund, which supports services for individuals with communication disabilities. The commission must provide an annual report detailing the fund's revenue, expenditures, and balance to the Revenue Stabilization and Tax Policy Committee. The bill will take effect on July 1, 2025, providing a clear timeline for implementation of the new surcharge rate.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=372&year=25