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SB 007: MOTOR VEHICLE TAX TO ROAD FUND FOR 4 YEARS

An Act Relating To Taxation; Changing The Distribution Of The Motor Vehicle Excise Tax From The General Fund To The State Road Fund Over A Four-year Period.

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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):

Companion Bills

Bills:
MOTOR VEHICLE TAX FUND DISTRIBUTION

Related Legislators

Bill Sponsor:

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.