MILD
SB 007
MOTOR VEHICLE TAX TO ROAD FUND FOR 4 YEARS
- Legislative URL:
- SB 007 on nmlegis.gov
- Emergency Clause:
- No
- Germane:
- Yes
- Location:
- SCORC
- Action:
- SPREF [1] SCC/SCORC/SFC-SCC [2]germane-SCORC API.
- Issue(s):
- Transportation
Companion Bills
Related Legislators
- Bill Sponsor:
- Carroll Leavell
Related Documents
- Downloads:
-
Introduced
SCC 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.
A possible benefit of this bill might be an improved transportation infrastructure due to increased funding of the Road Fund.