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NM HB58

NM HB58
Increase gas tax for state road fund


summary

Introduced
01/20/2015
In Committee
01/22/2015
Crossed Over
Passed
Dead
03/21/2015

Introduced Session

2015 Regular Session

Bill Summary

Increase gas tax for state road fund

AI Summary

This bill proposes to increase the state's gasoline and special fuel excise taxes, with the revenue primarily directed to the state road fund, which is used for road construction and maintenance. Specifically, the bill outlines a phased increase in the gasoline tax, starting at seventeen cents per gallon and gradually rising to twenty-two cents per gallon by July 1, 2019, and similarly increases the special fuel excise tax from twenty-one cents to twenty-six cents per gallon over the same period. These changes also affect the percentage of gasoline tax revenue distributed to various funds, including the state aviation fund, motorboat fuel tax fund, county government road fund, municipal roads, and the municipal arterial program, with these percentages generally decreasing over time as the overall gasoline tax increases. The bill also amends provisions related to gasoline tax sharing agreements with qualified tribes and distributions to the general fund.

Committee Categories

Transportation and Infrastructure

Sponsors (1)

Last Action

[LD 3] Action postponed indefinitely (on 01/22/2015)

bill text


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