INCREASE GAS & SPECIAL FUEL TAX
- Legislative URL:
- SB 251 on nmlegis.gov
- Emergency Clause:
-  SCC/SCORC/SFC-SCC germane-SCORC  w/drn-SFC API.
- Bill Sponsor:
- John Arthur Smith
This bill will, effective July 1, 2016:
• increase the gasoline tax from the current $.17/gallon to $.22/gallon; and
• increase the special fuels tax from the current $.21/gallon to $.26/gallon.
One potential benefit of this bill might be that it could increase New Mexico’s revenues. Another is that as taxes on fuel increase, the public may demand more fuel-efficient vehicles and/or make their driving habits more efficient.