summary
Introduced
01/25/2017
01/25/2017
In Committee
01/25/2017
01/25/2017
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; INCREASING THE MOTOR VEHICLE EXCISE TAX FROM THREE PERCENT TO FOUR PERCENT.
AI Summary
This bill increases the motor vehicle excise tax from 3% to 4% of the price paid for a vehicle. The tax rate will be applied to the reasonable value of the vehicle at the time it was acquired, with any allowances granted for trade-ins being deducted from the price paid or the reasonable value. The effective date of this change is July 1, 2017.
Committee Categories
Transportation and Infrastructure
Sponsors (3)
Last Action
[LD 9] Referred to Senate Corporations & Transportation (on 01/25/2017)
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=S&legtype=B&legno=353&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/senate/SB0353.pdf |
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