HB 604: INCREASE GAS & SPECIAL FUELS TAXES

An Act Relating To Taxation; Increasing The Rate Of The Gasoline Tax And The Special Fuel Excise Tax

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MILD HB 604
INCREASE GAS & SPECIAL FUELS TAXES

Legislative URL:

HB 604 on nmlegis.gov

Emergency Clause:

No

Germane:

N/A

Location:

- OTHER -

Action:

[24] HTPWC/HTRC-HTPWC [34] DP/a-HTRC API.

Issue(s):

Related Legislators

Bill Sponsor:

Roberto “Bobby” Gonzales

Related Documents

Downloads:

Introduced
HTPWC Committee Report
Fiscal Impact Report

Summary

This bill will increase the gasoline tax from the current $.17/gallon to $.22/gallon on July 1, 2013. It also increases the special fuels tax from the current $.21/gallon to $.26/gallon on July 1, 2013.

One potential benefit of this bill might be that it could increase New Mexico’s revenues. Another is that as taxes on fuel increase, the public may demand more fuel-efficient vehicles and/or make their driving habits more efficient.

This bill is not a companion to Senate Bill 527 but does increase the same taxes.

Outcome: HB 604 died in the House Taxation and Revenue Committee.

Date of Summary:  2/16/13; Updated 5/15/13