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SB 160: BIODIESEL DEFINITIONS

An Act Relating To Taxation; Defining "biodiesel"; Clarifying The Definition Of "special Fuel" To Include Blended Biodiesel; Providing A Deduction For Receipt Of Biodiesel Fuel To Rack Operators For Blending And Resale; Declaring An Emergency.

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MILD SB 160
BIODIESEL DEFINITIONS

Legislative URL:
SB 160 on nmlegis.gov
Emergency Clause:
Yes
Germane:
N/A
Location:
Signed
Action:
[2] SCONC/SFC-SCONC [12] DP/a-SFC [24] DP [32] fl/a- PASSED/S (40-0) [39] HTPWC/HTRC-HTPWC- w/drn-HTRC [50] DP - fl/a- PASSED/H (68-0) [44] s/cncrd SGND (Apr.2) Ch.109.
Issue(s):

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
SCONC Committee Report
SFC Committee Report
Senate Floor Amendment 1
Final Senate Vote
HTRC Committee Report
House Floor Amendment 1
Final House Vote
Fiscal Impact Report
Final Version
Summary

This measure amends the deductions allowed for purposes of the “special fuels excise tax” so that a deduction is allowed for biodiesel that is “received or manufactured and delivered to a rack operator in New Mexico for blending or resale.” The bill also amends the definition of “special fuel” for purposes of the Special Fuels Supplier Tax Act, which imposes the special fuels excise tax, to define “biodiesel” and “blended biodiesel.” It defines “biodiesel” as “a renewable, biodegradable, combustible liquid fuel that is derived from agricultural plant oils or animal fats” and that meets certain international standards. It defines “blended biodiesel” as “a diesel engine fuel that contains at least two percent biodiesel.”

The bill also limits the current special fuels excise tax deduction for fuel that is at least 99% vegetable oil or animal fat to such fuel that is received in New Mexico prior to July 1, 2014.

 

Date of Summary:  1/22/2013