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HB 199: MOTOR VEHICLE TAX FUND DISTRIBUTION

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 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):

Companion Bills

Bills:
MOTOR VEHICLE TAX TO ROAD FUND FOR 4 YEARS

Related Legislators

Bill Sponsor:

Related Documents

Downloads:
Introduced
HTPWC Committee Report
Fiscal Impact Report

Related Events

Upcoming:
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.