0001| HOUSE BILL 1332
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| M. MICHAEL OLGUIN
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0005|
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0006|
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0007|
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0008|
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0009|
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0010| AN ACT
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0011| RELATING TO HIGHWAY FINANCING; INCREASING THE RATE OF THE
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0012| GASOLINE TAX AND THE SPECIAL FUEL EXCISE TAX OVER A FIVE-YEAR
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0013| PERIOD; TRANSFERRING MOTOR VEHICLE EXCISE TAX REVENUES;
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0014| AUTHORIZING ADDITIONAL BONDING AUTHORITY FOR THE STATE HIGHWAY
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0015| COMMISSION; AMENDING SECTIONS OF THE NMSA 1978.
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0016|
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0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018| Section 1. Section 7-1-6.7 NMSA 1978 (being Laws 1994,
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0019| Chapter 5, Section 2, as amended by Laws 1995, Chapter 6,
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0020| Section 1 and also by Laws 1995, Chapter 36, Section 1) is
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0021| amended to read:
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0022| "7-1-6.7. DISTRIBUTIONS--STATE AVIATION FUND.--
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0023| A. A distribution pursuant to Section 7-1-6.1 NMSA
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0024| 1978 shall be made to the state aviation fund in an amount
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0025| equal to three and fifty-nine hundredths percent of the gross
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0001| receipts attributable to the sale of fuel specially prepared
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0002| and sold for use in turboprop or jet-type engines as determined
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0003| by the department.
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0004| B. A distribution pursuant to Section 7-1-6.1 NMSA
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0005| 1978 shall be made to the state aviation fund in an amount
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0006| equal to [twenty-six hundredths of one percent] the
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0007| following percentages of gasoline taxes, exclusive of
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0008| penalties and interest, collected pursuant to the Gasoline Tax
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0009| Act:
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0010| (1) from August 1, 1997 through July 31,
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0011| 1998, twenty-five hundredths of one percent;
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0012| (2) from August 1, 1998 through July 31, 1999,
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0013| twenty-three hundredths of one percent;
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0014| (3) from August 1, 1999 through July 31, 2000,
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0015| twenty-two hundredths of one percent;
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0016| (4) from August 1, 2000 through July 31, 2001,
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0017| twenty-one hundredths of one percent;
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0018| (5) from August 1, 2001 through July 31, 2003,
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0019| two-tenths of one percent; and
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0020| (6) after July 31, 2003, twenty-one hundredths
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0021| of one percent."
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0022| Section 2. Section 7-1-6.8 NMSA 1978 (being Laws 1983,
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0023| Chapter 211, Section 13, as amended) is amended to read:
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0024| "7-1-6.8. DISTRIBUTION--MOTORBOAT FUEL TAX FUND.--A
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0025| distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be
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0001| made to the motorboat fuel tax fund in an amount equal to
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0002| [thirteen hundredths of one percent] the following
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0003| percentages of the net receipts attributable to the gasoline
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0004| tax:
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0005| A. from August 1, 1997 through July 31, 1998,
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0006| twelve hundredths of one percent;
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0007| B. from August 1, 1998 through July 31, 1999,
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0008| twelve hundredths of one percent;
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0009| C. from August 1, 1999 through July 31, 2000,
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0010| eleven hundredths of one percent;
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0011| D. from August 1, 2000 through July 31, 2001, one-
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0012| tenth of one percent;
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0013| E. from August 1, 2001 through July 31, 2003, one-
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0014| tenth of one percent; and
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0015| F. after July 31, 2003, one-tenth of one percent."
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0016| Section 3. Section 7-1-6.9 NMSA 1978 (being Laws 1991,
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0017| Chapter 9, Section 11, as amended) is amended to read:
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0018| "7-1-6.9. DISTRIBUTION OF GASOLINE TAXES TO
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0019| MUNICIPALITIES AND COUNTIES.--
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0020| A. A distribution pursuant to Section 7-1-6.1 NMSA
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0021| 1978 shall be made in an amount equal to [ten and thirty-eight
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hundredths percent] the following percentages of the net
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0023| receipts attributable to the taxes, exclusive of penalties and
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0024| interest, imposed by the Gasoline Tax Act:
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0025| (1) from August 1, 1997 through July 31,
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0001| 1998, nine and eight-tenths percent;
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0002| (2) from August 1, 1998 through July 31, 1999,
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0003| nine and three-tenths percent;
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0004| (3) from August 1, 1999 through July 31, 2000,
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0005| eight and eighty-two hundredths percent;
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0006| (4) from August 1, 2000 through July 31, 2001,
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0007| eight and four-tenths percent;
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0008| (5) from August 1, 2001 through July 31, 2003,
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0009| eight and two hundredths percent; and
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0010| (6) after July 31, 2000, eight and four-tenths
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0011| percent.
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0012| B. The amount determined in Subsection A of this
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0013| section shall be distributed as follows:
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0014| (1) ninety percent of the amount shall be paid
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0015| to the treasurers of municipalities and H class counties in the
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0016| proportion that the taxable motor fuel sales in each of the
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0017| municipalities and H class counties bears to the aggregate
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0018| taxable motor fuel sales in all of these municipalities and H
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0019| class counties; and
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0020| (2) ten percent of the amount shall be paid to
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0021| the treasurers of the counties, including H class counties, in
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0022| the proportion that the taxable motor fuel sales outside of
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0023| incorporated municipalities in each of the counties bears to
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0024| the aggregate taxable motor fuel sales outside of incorporated
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0025| municipalities in all of the counties.
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0001| C. This distribution shall be paid into the
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0002| municipal treasury or county general fund for general purposes
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0003| or for any special purposes designated by the governing body of
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0004| the municipality or county. Any municipality or H class county
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0005| that has created or that creates a "street improvement fund" to
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0006| which gasoline tax revenues or distributions are irrevocably
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0007| pledged under Sections 3-34-1 through 3-34-4 NMSA 1978 or that
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0008| has pledged all or a portion of gasoline tax revenues or
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0009| distributions to the payment of bonds shall receive its
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0010| proportion of the distribution of revenues under this section
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0011| impressed with and subject to these pledges."
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0012| Section 4. Section 7-1-6.19 NMSA 1978 (being Laws 1991,
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0013| Chapter 9, Section 15, as amended) is amended to read:
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0014| "7-1-6.19. DISTRIBUTION--COUNTY GOVERNMENT ROAD FUND
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0015| CREATED.--
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0016| A. There is created in the state treasury the
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0017| "county government road fund".
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0018| B. A distribution pursuant to Section 7-1-6.1 NMSA
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0019| 1978 shall be made to the county government road fund in an
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0020| amount equal to [five and seventy-six hundredths percent]
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0021| the following percentages of the net receipts attributable to
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0022| the gasoline tax:
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0023| (1) from August 1, 1997 through July 31,
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0024| 1998, five and forty-four hundredths percent;
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0025| (2) from August 1, 1998 through July 31, 1999,
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0001| five and fifteen hundredths percent;
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0002| (3) from August 1, 1999 through July 31, 2000,
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0003| four and nine-tenths percent;
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0004| (4) from August 1, 2000 through July 31, 2001,
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0005| four and sixty-six hundredths percent;
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0006| (5) from August 1, 2001 through July 31, 2003,
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0007| four and forty-five hundredths percent; and
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0008| (6) after July 31, 2003, four and sixty-six
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0009| hundredths percent."
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0010| Section 5. Section 7-1-6.27 NMSA 1978 (being Laws 1991,
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0011| Chapter 9, Section 20, as amended) is amended to read:
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0012| "7-1-6.27. DISTRIBUTION--MUNICIPAL ROADS.--
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0013| A. A distribution pursuant to Section 7-1-6.1 NMSA
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0014| 1978 shall be made to municipalities for the purposes and
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0015| amounts specified in this section in an aggregate amount equal
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0016| to [five and seventy-six hundredths percent] the following
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0017| percentages of the net receipts attributable to the gasoline
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0018| tax:
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0019| (1) from August 1, 1997 through July 31,
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0020| 1998, five and forty-four hundredths percent;
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0021| (2) from August 1, 1998 through July 31, 1999,
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0022| five and fifteen hundredths percent;
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0023| (3) from August 1, 1999 through July 31, 2000,
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0024| four and nine-tenths percent;
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0025| (4) from August 1, 2000 through July 31, 2001,
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0001| four and sixty-six hundredths percent;
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0002| (5) from August 1, 2001 through July 31, 2003,
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0003| four and forty-five hundredths percent; and
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0004| (6) after July 31, 2003, four and sixty-six
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0005| hundredths percent.
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0006| B. The distribution authorized in this section
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0007| shall be used for the following purposes:
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0008| (1) reconstructing, resurfacing, maintaining,
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0009| repairing or otherwise improving existing alleys, streets,
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0010| roads or bridges, or any combination of the foregoing; or
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0011| laying off, opening, constructing or otherwise acquiring new
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0012| alleys, streets, roads or bridges, or any combination of the
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0013| foregoing; provided that any of the foregoing improvements may
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0014| include, but are not limited to, the acquisition of rights of
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0015| way; and
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0016| (2) for expenses of purchasing, maintaining
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0017| and operating transit operations and facilities, for the
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0018| operation of a transit authority established by the municipal
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0019| transit law and for the operation of a vehicle emission
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0020| inspection program. A municipality may engage in the business
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0021| of the transportation of passengers and property within the
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0022| political subdivision by whatever means the municipality may
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0023| decide and may acquire cars, trucks, motor buses and other
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0024| equipment necessary for operating the business. A municipality
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0025| may acquire land, erect buildings and equip the buildings with
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0001| all the necessary machinery and facilities for the operation,
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0002| maintenance, modification, repair and storage of the cars,
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0003| trucks, motor buses and other equipment needed. A municipality
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0004| may do all things necessary for the acquisition and the conduct
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0005| of the business of public transportation.
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0006| C. For the purposes of this section:
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0007| (1) "computed distribution amount" means the
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0008| distribution amount calculated for a municipality for a month
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0009| pursuant to Paragraph (2) of Subsection D of this section prior
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0010| to any adjustments to the amount due to the provisions of
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0011| Subsections E and F of this section;
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0012| (2) "floor amount" means four hundred
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0013| seventeen dollars ($417);
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0014| (3) "floor municipality" means a municipality
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0015| whose computed distribution amount is less than the floor
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0016| amount; and
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0017| (4) "full distribution municipality" means a
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0018| municipality whose population at the last federal decennial
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0019| census was at least two hundred thousand.
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0020| D. Subject to the provisions of Subsections E and F
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0021| of this section, each municipality shall be distributed a
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0022| portion of the aggregate amount distributable under this
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0023| section in an amount equal to the greater of:
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0024| (1) the floor amount; or
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0025| (2) eighty-five percent of the aggregate
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0001| amount distributable under this section times a fraction, the
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0002| numerator of which is the municipality's reported taxable
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0003| gallons of gasoline for the immediately preceding state fiscal
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0004| year and the denominator of which is the reported total taxable
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0005| gallons for all municipalities for the same period.
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0006| E. Fifteen percent of the aggregate amount
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0007| distributable under this section shall be referred to as the
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0008| "redistribution amount". Beginning in August 1990, and each
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0009| month thereafter, from the redistribution amount there shall be
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0010| taken an amount sufficient to increase the computed
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0011| distribution amount of every floor municipality to the floor
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0012| amount. In the event that the redistribution amount is
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0013| insufficient for this purpose, the computed distribution amount
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0014| for each floor municipality shall be increased by an amount
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0015| equal to the redistribution amount times a fraction, the
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0016| numerator of which is the difference between the floor amount
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0017| and the municipality's computed distribution amount and the
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0018| denominator of which is the difference between the product of
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0019| the floor amount multiplied by the number of floor
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0020| municipalities and the total of the computed distribution
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0021| amounts for all floor municipalities.
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0022| F. If a balance remains after the redistribution
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0023| amount has been reduced pursuant to Subsection E of this
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0024| section, there shall be added to the computed distribution
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0025| amount of each municipality that is neither a full distribution
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0001| municipality nor a floor municipality an amount that equals the
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0002| balance of the redistribution amount times a fraction, the
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0003| numerator of which is the computed distribution amount of the
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0004| municipality and the denominator of which is the sum of the
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0005| computed distribution amounts of all municipalities that are
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0006| neither full distribution municipalities nor floor
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0007| municipalities."
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0008| Section 6. Section 7-1-6.28 NMSA 1978 (being Laws 1991,
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0009| Chapter 9, Section 22, as amended) is amended to read:
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0010| "7-1-6.28. DISTRIBUTION--MUNICIPAL ARTERIAL PROGRAM OF
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0011| LOCAL GOVERNMENTS ROAD FUND.--A distribution pursuant to
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0012| Section 7-1-6.1 NMSA 1978 shall be made to the municipal
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0013| arterial program of the local governments road fund created in
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0014| Section 67-3-28.2 NMSA 1978 in an amount equal to [one and
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forty-four hundredths percent] the following percentages of
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0016| the net receipts attributable to the gasoline tax:
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0017| A. from August 1, 1997 through July 31, 1998, one
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0018| and thirty-six hundredths percent;
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0019| B. from August 1, 1998 through July 31, 1999, one
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0020| and twenty-nine hundredths percent;
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0021| C. from August 1, 1999 through July 31, 2000, one
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0022| and twenty-two hundredths percent;
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0023| D. from August 1, 2000 through July 31, 2001, one
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0024| and seventeen hundredths percent;
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0025| E. from August 1, 2001 through July 31, 2003, one
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0001| and eleven hundredths percent; and
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0002| F. after July 31, 2003, one and seventeen
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0003| hundredths percent."
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0004| Section 7. Section 7-1-6.39 NMSA 1978 (being Laws 1995,
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0005| Chapter 6, Section 9) is amended to read:
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0006| "7-1-6.39. DISTRIBUTION OF SPECIAL FUEL EXCISE TAX TO
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0007| LOCAL GOVERNMENTS ROAD FUND.--A distribution pursuant to
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0008| Section 7-1-6.1 NMSA 1978 shall be made to the local
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0009| governments road fund in an amount equal to [eleven and eleven
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hundredths percent] the following percentages of the net
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0011| receipts attributable to the taxes, exclusive of penalties and
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0012| interest, from the special fuel excise tax imposed by the
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0013| Special Fuels Supplier Tax Act;
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0014| A. from August 1, 1997 through July 31, 1998, ten
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0015| and fifty-three hundredths percent;
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0016| B. from August 1, 1998 through July 31, 1999, ten
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0017| percent;
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0018| C. from August 1, 1999 through July 31, 2000, nine
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0019| and fifty-two hundredths percent;
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0020| D. from August 1, 2000 through July 31, 2001, nine
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0021| and nine hundredths percent; and
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0022| E. after July 31, 2001, eight and seven-tenths
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0023| percent."
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0024| Section 8. Section 7-13-3 NMSA 1978 (being Laws 1971,
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0025| Chapter 207, Section 3, as amended) is amended to read:
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0001| "7-13-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS
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0002| "GASOLINE TAX".--
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0003| A. For the privilege of receiving gasoline in this
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0004| state, there is imposed an excise tax at a rate provided in
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0005| Subsection B of this section on each gallon of gasoline
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0006| received in New Mexico.
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0007| B. The tax imposed by Subsection A of this section
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0008| shall be [seventeen cents ($.17)] imposed at the following
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0009| rates per gallon received in New Mexico:
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0010| (1) from July 1, 1997 through June 30, 1998,
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0011| eighteen cents ($.18);
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0012| (2) from July 1, 1998 through June 30, 1999,
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0013| nineteen cents ($.19);
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0014| (3) from July 1, 1999 through June 30, 2000,
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0015| twenty cents ($.20);
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0016| (4) from July 1, 2000 through June 30, 2001,
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0017| twenty-one cents ($.21);
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0018| (5) from July 1, 2001 through June 30, 2003,
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0019| twenty-two cents ($.22); and
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0020| (6) after June 30, 2003, twenty-one cents
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0021| ($.21).
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0022| C. The tax imposed by this section may be called
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0023| the "gasoline tax"."
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0024| Section 9. Section 7-14-10 NMSA 1978 (being Laws 1988,
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0025| Chapter 73, Section 20, as amended) is amended to read:
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0001| "7-14-10. DISTRIBUTION OF PROCEEDS.--The receipts from
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0002| the tax and any associated interest and penalties shall be
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0003| deposited in the "motor vehicle suspense fund", hereby created
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0004| in the state treasury. As of the end of each month, the net
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0005| receipts attributable to the tax and associated penalties and
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0006| interest shall be distributed [to the general fund] as
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0007| follows:
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0008| A. prior to June 30, 1998, to the general fund;
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0009| B. from July 1, 1998 through June 30, 1999, ninety
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0010| percent to the general fund and ten percent to the state road
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0011| fund;
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0012| C. from July 1, 1999 through June 30, 2000, eighty
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0013| percent to the general fund and twenty percent to the state
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0014| road fund;
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0015| D. from July 1, 2000 through June 30, 2001, seventy
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0016| percent to the general fund and thirty percent to the state
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0017| road fund;
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0018| E. from July 1, 2001 through June 30, 2002, sixty
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0019| percent to the general fund and forty percent to the state road
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0020| fund; and
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0021| F. after June 30, 2002, fifty percent to the
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0022| general fund and fifty percent to the state road fund."
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0023| Section 10. Section 7-16A-3 NMSA 1978 (being Laws 1992,
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0024| Chapter 51, Section 3, as amended) is amended to read:
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0025| "7-16A-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS
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0001| SPECIAL FUEL EXCISE TAX.--
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0002| A. For the privilege of receiving or using special
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0003| fuel in this state, there is imposed an excise tax at a rate
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0004| provided in Subsection B of this section on each gallon of
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0005| special fuel received in New Mexico.
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0006| B. The tax imposed by Subsection A of this section
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0007| shall be [eighteen cents ($.18)] imposed at the following
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0008| rates per gallon of special fuel received or used in New
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0009| Mexico:
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0010| (1) from July 1, 1997 through June 30, 1998,
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0011| nineteen cents ($.19);
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0012| (2) from July 1, 1998 through June 30, 1999,
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0013| twenty cents ($.20);
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0014| (3) from July 1, 1999 through June 30, 2000,
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0015| twenty-one cents ($.21);
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0016| (4) from July 1, 2000 through June 30, 2001,
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0017| twenty-two cents ($.22); and
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0018| (5) after June 30, 2001, twenty-three cents
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0019| ($.23).
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0020| C. The tax imposed by this section may be called
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0021| the "special fuel excise tax"."
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0022| Section 11. Section 67-3-59.1 NMSA 1978 (being Laws 1989,
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0023| Chapter 157, Section 1, as amended) is amended to read:
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0024| "67-3-59.1. STATE HIGHWAY DEBENTURES--ISSUANCE--LIMITS--
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0025| APPROVAL--COUPONS.--
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0001| A. In order to provide funds to finance state
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0002| highway projects, including state highway projects that are
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0003| required for the waste isolation pilot project and are eligible
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0004| for federal reimbursement or payment as authorized by federal
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0005| legislation, the state highway commission is authorized to
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0006| issue bonds from time to time, payable from federal funds, not
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0007| otherwise obligated, that are paid into the state road fund and
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0008| from the proceeds of the collection of [gasoline excise]
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0009| taxes and [motor vehicle registration] fees that are required
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0010| by law to be paid into the state road fund and not otherwise
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0011| pledged solely to the payment of outstanding bonds and
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0012| debentures.
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0013| B. The total aggregate outstanding principal amount
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0014| of bonds issued from time to time pursuant to this section,
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0015| secured by or payable from [the gasoline excise taxes and
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motor vehicle registration fees] federal funds not otherwise
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0017| obligated that are paid into the state road fund and the
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0018| proceeds from the collection of taxes and fees required by law
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0019| to be paid into the state road fund, shall not, without
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0020| additional authorization of the state legislature, exceed [one
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hundred fifty million dollars ($150,000,000)] at any given
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0022| time, subject to the [following] provisions of Subsection C
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0023| of this section, the following amounts:
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0024| (1) prior to July 1, 1998, two hundred
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0025| seventy-five million dollars ($275,000,000);
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0001| (2) from July 1, 1998 through June 30, 1999,
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0002| four hundred million dollars ($400,000,000); and
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0003| (3) after June 30, 1999, one billion one
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0004| hundred million dollars ($1,100,000,000).
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0005| C. The total aggregate outstanding principal amount
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0006| of bonds authorized pursuant to Subsection B of this section
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0007| shall be subject to the following provisions:
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0008| (1) the total aggregate outstanding principal
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0009| amount of bonds issued for state highway projects that are
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0010| required for the waste isolation pilot project and are eligible
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0011| for federal reimbursement or payment as authorized by federal
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0012| legislation shall not exceed one hundred million dollars
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0013| ($100,000,000); and
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0014| (2) the total aggregate outstanding principal
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0015| amount of bonds issued for state highway projects other than
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0016| state highway projects that are required for the waste
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0017| isolation pilot project and are eligible for federal
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0018| reimbursement or payment as authorized by federal legislation
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0019| shall not exceed: [fifty million dollars ($50,000,000).]
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0020| (a) prior to July 1, 1998, one hundred
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0021| seventy-five million dollars ($175,000,000);
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0022| (b) from July 1, 1998 through June 30,
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0023| 1999, three hundred million dollars ($300,000,000); and
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0024| (c) after June 30, 1999, one billion
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0025| dollars ($1,000,000,000).
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0001| [C.] D. The state highway commission may issue
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0002| bonds to refund other bonds issued pursuant to this section by
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0003| exchange or current or advance refunding.
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0004| [D.] E. Each series of bonds shall have a
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0005| maturity of no more than twenty-five years from the date of
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0006| issuance. The state highway commission shall determine all
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0007| other terms, covenants and conditions of the bonds; provided
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0008| that the bonds shall not be issued pursuant to this section
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0009| unless the state board of finance approves the issuance of the
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0010| bonds and the principal amount of and interest rate or maximum
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0011| net effective interest rate on the bonds.
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0012| [E.] F. The bonds shall be executed with the
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0013| manual or facsimile signatures of the chairman of the state
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0014| highway commission, countersigned by the state treasurer and
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0015| attested to by the secretary of the state highway commission,
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0016| with the seal of the state highway commission imprinted or
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0017| otherwise affixed to the bonds.
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0018| [F.] G. Proceeds of the bonds may be used to
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0019| pay expenses incurred in the preparation, issuance and sale of
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0020| the bonds and, together with the earnings on the proceeds of
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0021| the bonds, may be used to pay rebate, penalty, interest and
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0022| other obligations relating to the bonds and the proceeds of the
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0023| bonds under the Internal Revenue Code of 1986, as amended.
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0024| [G.] H. The bonds may be sold at public or
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0025| private sale. If sold at public sale, a notice of the time and
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0001| place of sale shall be published in a newspaper of general
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0002| circulation in the state, and in any other newspaper determined
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0003| in the resolution authorizing the issuance of the bonds, once
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0004| each week for two consecutive weeks prior to the date of sale.
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0005| The bonds may be purchased by the state treasurer or state
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0006| investment officer.
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0007| [H.] I. This section is full authority for the
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0008| issuance and sale of the bonds, and the bonds shall not be
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0009| invalid for any irregularity or defect in the proceedings for
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0010| their issuance and sale and shall be incontestable in the hands
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0011| of bona fide purchasers or holders of the bond for value.
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0012| [I.] J. The bonds shall be legal investments
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0013| for any person or board charged with the investment of public
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0014| funds and may be accepted as security for any deposit of public
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0015| money and, with the interest thereon, are exempt from taxation
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0016| by the state and any political subdivision or agency of the
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0017| state."
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0018| Section 12. REPEAL.--That version of Section 7-13-3 NMSA
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0019| 1978 (being Laws 1995, Chapter 6, Section 11) that is to become
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0020| effective July 1, 2003 is repealed.
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0021| Section 13. EFFECTIVE DATE.--
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0022| A. The effective date of the provisions of Section
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0023| 1 through 7 of this act is August 1, 1997.
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0024|
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