HOUSE BILL 250
54th legislature - STATE OF NEW MEXICO - second session, 2020
Willie D. Madrid and Cathrynn N. Brown
RELATING TO THE MOTOR VEHICLE EXCISE TAX; INCREASING THE DISTRIBUTION OF THE MOTOR VEHICLE EXCISE TAX TO THE STATE ROAD FUND AND ELIMINATING THE DISTRIBUTION TO THE LOCAL GOVERNMENTS ROAD FUND; DIRECTING THE USE OF THE DISTRIBUTION FOR CONSTRUCTION, IMPROVEMENT, MAINTENANCE AND REPAIR OF BRIDGES AND RAILROAD CROSSINGS ON THE STATE HIGHWAY SYSTEM; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 7-14-10 NMSA 1978 (being Laws 1988, Chapter 73, Section 20, as amended) is amended to read:
"7-14-10. DISTRIBUTION OF PROCEEDS.--The receipts from the tax and any associated interest and penalties shall be deposited in the "motor vehicle suspense fund", hereby created in the state treasury. As of the end of each month, the net receipts attributable to the tax and associated penalties and interest shall be distributed as follows:
A. prior to [July] January 1, 2021:
(1) seventy-one and eighty-nine hundredths percent to the general fund;
(2) three and eleven hundredths percent to the state road fund; and
(3) twenty-five percent to the department of transportation, for expenditures needed to mitigate the emergency road conditions related to activity in the oil field in state transportation commission district 2; [and]
B. beginning [July] January 1, 2021 and ending June 30, 2021:
(1) [fifty-nine and thirty-nine hundredths] thirty-seven and one-half percent to the general fund;
(2) [twenty-one and eighty-six hundredths] thirty-seven and one-half percent to the state road fund; and
(3) [eighteen and seventy-five hundredths percent to the local governments road fund] twenty-five percent to the department of transportation, for expenditures needed to mitigate the emergency road conditions related to activity in the oil field in state transportation commission district 2; and
C. beginning July 1, 2021:
(1) fifty percent to the general fund; and
(2) fifty percent to the state road fund."
SECTION 2. A new section of Chapter 67, Article 3 NMSA 1978 is enacted to read:
"[NEW MATERIAL] USE OF MOTOR VEHICLE EXCISE TAX DISTRIBUTION.--The motor vehicle excise tax distribution to the state road fund made pursuant to Section 7-14-10 NMSA 1978 shall be for expenditures needed to construct, improve, maintain and repair bridges and railroad crossings on the state highway system, including to match federal or other money available for the same purpose. To the extent that the distribution is not needed for this purpose, it may by used as other amounts distributed to the state road fund."
SECTION 3. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2020.
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