Bill > HB167

This bill proposes to gradually change the distribution of the motor vehicle excise tax from the general fund to the state road fund over a four-year period. Prior to July 1, 2017, 100% of the tax receipts would go to the general fund. From July 1, 2017 to June 30, 2018, 75% would go to the general fund and 25% to the state road fund. From July 1, 2018 to June 30, 2019, the distribution would be 50% to each fund. From July 1, 2019 to June 30, 2020, 25% would go to the general fund and 75% to the state road fund. Finally, on and after July 1, 2020, 100% of the tax receipts would go to the state road fund. The provisions of the bill would apply to tax receipts collected on and after July 1, 2017.

Budget and Finance, Transportation and Infrastructure

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=167&year=17