SENATE BILL 185

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

William P. Soules

 

 

 

 

 

AN ACT

RELATING TO TAXATION; INCREASING THE GASOLINE TAX.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 7-13-3 NMSA 1978 (being Laws 1971, Chapter 207, Section 3, as amended) is amended to read:

     "7-13-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS "GASOLINE TAX".--

          A. For the privilege of receiving gasoline in this state, there is imposed an excise tax at a rate provided in Subsection B of this section on each gallon of gasoline received in New Mexico.

          B. The tax imposed by Subsection A of this section shall be [seventeen cents ($.17)] twenty cents ($.20) per gallon received in New Mexico.

          C. The tax imposed by this section may be called the "gasoline tax"."

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2026.

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