HB 058: INCREASE GAS TAX FOR STATE ROAD FUND

An Act Relating To Taxation; Incrementally Increasing The Gasoline Tax And The Special Fuel Excise Tax; Providing For Distribution Of Net Receipts Attributable To The Tax Increases To The State Road Fund; Making An Appropriation.

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MILD HB 058
INCREASE GAS TAX FOR STATE ROAD FUND

Legislative URL:

HB 058 on nmlegis.gov

Emergency Clause:

No

Germane:

N/A

Location:

HTPWC

Action:

HPREF [3] HTPWC/HWMC/HAFC-HTPWC API.

Issue(s):

Transportation

Related Legislators

Bill Sponsor:

Roberto “Bobby” Gonzales

Related Documents

Downloads:

Introduced
Fiscal Impact Report

Summary

This bill would incrementally, from June 30, 2015 to July 1, 2019, reduce the amounts distributed from the gasoline tax and the special fuel excise tax to the State Aviation Fund, the Motorboat Fuel Tax Fund, municipalities and counties, the County Government Road Fund, the Municipal Arterial Program of the Local Governments Road Fund. The total reduction in those distributions would amount to 5.22% of net receipts attributable to the gasoline tax and 1.83% of net receipts attributable to the special fuel tax.

Over the same time period, the gasoline and special fuel taxes would be incrementally increased from the current 17 and 21 cents per gallon respectively to 22 and 26 cents per gallon on or after July 1, 2019.

All amounts attributable to the incrementally decreased distributions and gasoline and special fuels tax increases noted above, would be distributed to the State Road Fund.

The bill would also eliminate the formula for gasoline tax distributions to each qualified tribe (the Pueblo of Nambe and the Pueblo of Santo Domingo) and would make such distributions solely pursuant to a gasoline tax sharing agreement entered into by the DOT and the qualified tribe.

A potential benefit of this bill might be that if gas tax increases people may organize their driving more efficiently to save fuel, thus reducing pollution.