New Mexico - SB 2 - 2017

Relating to taxation; delaying reduction of the corporate income tax rates; delaying single sales apportionment of income for manufacturers; increasing the gasoline tax, the special fuel excise tax and the motor vehicle excise tax; distributing revenue from the increases to the tax stabilization reserve until state reserve funds reach five percent, to municipalities and counties for maintenance and repair of existing transportation infrastructure and to the state road maintenance fund; creating the state road maintenance fund; setting the petroleum products loading fee at one hundred fifty dollars ($150) and distributing a portion of the fee to the tax stabilization reserve until state reserve funds reach five percent; imposing a weight distance tax identification permit tax and distributing the revenue to the tax stabilization reserve until state reserve funds reach five percent; making an appropriation.

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Transportation

Added On: 06-09-2017
Updated On: 06-10-2017
Status: Passed Both Chambers
Primary Sponsors: Clemente Sanchez (Senate/Democratic), Jim R. Trujillo (House/Democratic)





Actions (8)

  • 05-24-2017 - Sent to Senate Finance Committee
  • 05-24-2017 - DO PASS committee report adopted
  • 05-24-2017 - passed Senate
  • 05-24-2017 - Sent to House Taxation and Revenue Committee
  • 05-25-2017 - DO PASS, as amended, committee report adopted
  • 05-25-2017 - passed House
  • 05-25-2017 - Senate concurred in House amendments
  • 05-26-2017 - Vetoed

Votes (2)

DateMotion (click for details)ChamberCommitteeYes
Votes
No
Votes
Other
Votes
Passed
05-24-2017senate passageSenate25161yes
05-25-2017house passageHouse37285yes