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HB 262: GAS TAX & ROAD PROJECTS

An Act Relating To Capital Expenditures; Providing Additional Revenue For The State Road Fund And The Local Governments Road Fund By Increasing The Gasoline Tax And The Special Fuel Excise Tax Beginning In Fiscal Year 2016 And The Motor Vehicle Excise Tax Beginning In Fiscal Year 2019; Indexing The Gasoline Tax And Special Fuel Excise Tax To Inflation Beginning In Fiscal Year 2017; Authorizing The Issuance Of Severance Tax And Supplemental Severance Tax Bonds In Certain Fiscal Years For Transportation Projects; Reducing Supplemental Severance Tax Bonding Capacity For Fiscal Year 2021 And Subsequent Fiscal Years; Adjusting The Manner In Which The Capacity For Issuance Of Severance Tax And Supplemental Severance Tax Bonds Is Calculated; Repealing Laws 2001, Chapter 37, Section 1; Making Appropriations.

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MILD HB 262
GAS TAX & ROAD PROJECTS

Legislative URL:
HB 262 on nmlegis.gov
Emergency Clause:
No
Germane:
N/A
Location:
HWMC
Action:
[4] HTPWC/HWMC/HAFC-HTPWC [15] DNP-CS/w/o rec-HWMC API.
Hearing:
Saturday, March 14, 2015 - 9:00 a.m. - Room 315
Issue(s):

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
HTPWC Committee Report
HTPWC Committee Substitute
Fiscal Impact Report

Related Events

Upcoming:
Summary

This bill, for the Legislative Finance Committee reduces special fuel and gasoline tax distributions to the State Aviation Fund, the Motorboat Fuel Tax Fund, municipalities and counties, the County Government Road Fund and the Local Governments Road Fund; and it increases distributions to the State Road Fund.

 

It provides additional revenue for the State Road Fund and the Local Governments Road Fund by increasing and indexing the gasoline tax and the special fuel excise tax beginning in fiscal year 2016 and the motor vehicle excise tax beginning in fiscal year 2019.

 

It authorizes the issuance of additional severance tax and supplemental severance tax bonds for transportation projects, including:

  • $40,000,000 for the planning, design, reconstruction and improvement of New Mexico highway 136, between the Santa Teresa port of entry and McNutt road in Santa Teresa;
  • $35,000,000 for the planning, design, reconstruction and improvement of New Mexico highway 1 from Mitchell Point to San Antonio;
  • $40,000,000 for the planning, design, construction and improvement of interstate 25 from mile post 0 to mile post 6;
  • $30,000,000 for the planning, design, construction and improvement of United States highway 70 from mile post 148.8 to mile post 150.1;
  • $90,000,000 for the planning, design, reconstruction and improvement of United States highway 82 from Artesia to Lovington;
  • $41,500,000 for the planning, design, reconstruction and improvement of New Mexico highway 529 from mile post 0 to mile post 22;
  • $22,000,000 for the planning, design, reconstruction and improvement of United States highway 285 from the Texas state line to Loving;
  • $21,000,000 for the planning, design, reconstruction and improvement of United States highway 54 from mile post 119 to mile post 130;
  • $30,000,000 for the planning, design, reconstruction and improvement of United States highway 54 from mile post 146 to mile post 163;
  • $37,000,000 for the planning, design, reconstruction and improvement of the interstate 25 and Rio Bravo boulevard interchange in Albuquerque;
  • $25,000,000 for the planning, design, reconstruction and improvement of interstate 25 in Albuquerque, between the interstate 25 and Rio Bravo boulevard interchange and the interstate 25 and Isleta boulevard interchange;
  • $25,000,000 for the replacement of a bridge over the Canadian river on United States highway 54 at mile post 325.3, including demolition, planning, design and construction;
  • $25,000,000 for the planning, design, reconstruction and improvement of United States highway 64 from mile post 364.8 to mile post 391.7;
  • $50,000,000 for the planning, design, reconstruction and improvement of United States highway 64 from mile post 56 to mile post 60;
  • $27,000,000 for the planning, design, reconstruction and improvement of New Mexico highway 68 from Espanola to Velarde;
  • $12,000,000 for the planning, design, reconstruction and improvement of New Mexico highway 6 from interstate 40 to the boundary between state transportation districts 3 and 6;
  • $15,000,000 for the reconstruction and improvement of New Mexico highway 118 east of Gallup and within state transportation district 6; and
  • $20,000,000 for the reconstruction and improvement of the portion of interstate 40 located within state transportation district 6.

 

A new section of the Severance Tax Bonding reduces supplemental severance tax bonding capacity for fiscal year 2021 and subsequent fiscal years.

 

A possible benefit of this bill might be significant improvement of the state’s transportation infrastructure through funding for highway projects. A concern might be the absence of funding for mass transit or alternative transportation projects.