SB 233: BIODIESEL TAX DEDUCTION

An Act Relating To Taxation; Providing A Deduction For Certain Biodiesel For Subsequent Blending Or Resale By A Rack Operator.

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MILD SB 233
BIODIESEL TAX DEDUCTION

Legislative URL:

SB 233 on nmlegis.gov

Emergency Clause:

No

Germane:

Yes

Location:

HTRC

Action:

[4] SCC/SCORC/SFC-SCC-germane-SCORC [10] DP/a-SFC [15] DP [17] PASSED/S (38-2) [14] HTRC API.

Issue(s):

Energy

Companion Bills

Bills:

BIODIESEL TAX DEDUCTION

Related Legislators

Bill Sponsor:

Stuart Ingle

Related Documents

Downloads:

Introduced
SCC Committee Report
SCORC Committee Report
SFC Committee Report
Final Senate Vote
Fiscal Impact Report

Summary

The measure provides for a deduction for biodiesel that is for subsequent blending or resale by a rack operator in calculating the “petroleum products loading fee.”

This bill might have the effect of encouraging the use of biodiesel through this deduction.

This bill is a companion bill to HB 288.

Date of Summary:  1/31/2014

Outcome:

SB 233 passed the Senate (38-2), but died in the House Taxation and Revenue Committee.

Updated 7/31/14