SENATE BILL 343
56th legislature - STATE OF NEW MEXICO - first session, 2023
Jeff Steinborn and Antoinette Sedillo Lopez and Tara L. Lujan
MAKING AN APPROPRIATION TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO PROVIDE REBATES TO CERTAIN RETAILERS THAT SELL E-BIKES TO LOW-INCOME RESIDENTS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION--E-BIKE REBATES.--
A. Six million dollars ($6,000,000) is appropriated from the general fund to the department of finance and administration for expenditure in fiscal years 2024 and 2025 to provide rebates as provided by this section. Any unexpended or unencumbered balance remaining at the end of fiscal year 2025 shall revert to the general fund.
B. A participating dealer that sells a new e-bike and a bicycle helmet to a low-income resident on or after July 1, 2023 may apply for a rebate to the department of finance and administration on forms in an amount equal to one thousand two hundred dollars ($1,200) or the price paid by the low-income resident for the new e-bike and bicycle helmet, whichever is less; provided that the low-income resident provides the participating dealer with the certificate required by Subsection D of this section; and provided further that the participating dealer provides safety information to the low-income resident at the time of sale.
C. To be eligible to receive a rebate provided by this section, a participating dealer shall apply to the department of finance and administration on forms and in a manner determined by the department, including the evidence necessary to prove the retailer is a participating dealer pursuant to this section.
D. A low-income resident who wishes to purchase a new e-bike from a participating dealer may apply for certification from the department of finance and administration on forms and in a manner determined by the department, including the evidence necessary to prove the resident is a low-income resident. Applications for certification shall be considered in the order received by the department; provided that the department shall ensure geographic dispersion of the certificates. If the low-income resident meets the requirements of this section, the department shall issue a dated and numbered certificate of eligibility to the low-income resident and provide the low-income resident with a list of participating dealers. The department shall provide only one certificate per low-income resident and shall not issue a certificate if the amount appropriated pursuant to Subsection A of this section has been exhausted.
E. If a low-income resident returns the new e-bike to the participating dealer, the participating dealer shall return any amount of rebate received for that new e-bike to the department of finance and administration.
F. The department of finance and administration may deduct from the appropriation provided pursuant to Subsection A of this section a fee in an amount equal to the reasonable costs to administer the certification and approval and distribution of rebates provided by this section.
G. As used in this section:
(1) "e-bike" means a vehicle that travels on not more than three wheels in contact with the ground and is equipped with:
(a) pedals that allow propulsion by human power;
(b) a seat for the use of the rider; and
(c) an electric motor with an input of no more than seven hundred fifty watts;
(2) "low-income resident" means a person who lives in and is domiciled in New Mexico and whose annual household income in the previous calendar year does not exceed two hundred percent of the federal poverty level guidelines published by the United States department of health and human services; and
(3) "participating dealer" means a retailer in the business of selling e-bikes that has a primary place of business in New Mexico and is registered as a taxpayer for New Mexico tax programs that require registration.
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