MILD
HB 199
MOTOR VEHICLE TAX FUND DISTRIBUTION
- Legislative URL:
- HB 199 on nmlegis.gov
- Emergency Clause:
- No
- Germane:
- N/A
- Location:
- HWMC
- Action:
- [2] not prntd-HRC [3] w/drn-prntd-ref- HTPWC/HWMC-HTPWC [6] DP-HWMC
- Hearing:
- Tuesday, February 9, 2016 - 1:30 p.m. - Room 317
- Issue(s):
- Transportation
Companion Bills
Related Legislators
- Bill Sponsor:
- Rick Little
Related Documents
- Downloads:
-
Introduced
HTPWC Committee Report
Fiscal Impact Report
Summary
This bill shifts the distribution of the motor vehicle excise tax from the General Fund to the State Road Fund incrementally over a four-year period beginning July 1, 2016. On and after July 1, 2019 the tax will go 100% to the Road Fund.
HB 199 is similar to SB 7, differing only in the specific percentages of incremental shifts to the Road Fund.
A possible benefit of this bill might be an improved transportation infrastructure due to increased funding of the Road Fund.