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| SPONSOR: | Rawson | DATE TYPED: | 3/3/99 | HB | |||
| SHORT TITLE: | Limit Use of Gas Tax Revenues, CA | SB | SJR4/aSRC/aSCORC | ||||
| ANALYST: | Esquibel | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| $ 17.0 | Non-Recurring | GF | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY99 | FY2000 | |||
| $ (200.0) | Recurring | Motorboat Fuel Fd | ||
| $ (400.0) | Recurring | St Aviation | ||
| $ (150.0) | Recurring | GF | ||
| $ (13.0) | Recurring | Small Cities Asst Fd | ||
| $ (13.0) | Recurring | Small Counties Asst Fd | ||
(Parenthesis ( ) Indicate Revenue Decreases)
Relates to HJR2.
SOURCES OF INFORMATION
NM Association of Counties
Secretary of State
State Highway and Transportation Department (SHTD)
Taxation and Revenue Department (TRD)
SUMMARY
Synopsis of SCORC Amendments
The Senate Corporations and Transportation Committee amendments to SJR4, as amended, specify the generated revenue would be appropriated by the Legislature for road construction and maintenance purposes as opposed to being appropriated to SHTD for road construction and maintenance or for distribution to municipalities or counties as specified in the SRC amendments.
Synopsis of SRC Amendments
The Senate Rules Committee amendments to SJR 4 specify the generated revenue would be appropriated commencing after July 1, 2001. Additionally, the amendments specify the revenue could be utilized only for road construction and maintenance as opposed to highway or transportation purposes.
Synopsis of Bill
The bill proposes to limit the appropriation of revenues generated from state taxes and fees imposed on the sale of gasoline and other fuels to the State Highway and Transportation Department and municipalities or counties. The revenue could be utilized by these entities only for maintaining highways and transportation purposes.
FISCAL IMPLICATIONS
The TRD indicates the state general fund loss depicted in the revenue table is associated with gross receipts and compensating taxes. The compensating tax portion amount to approximately $110.0; while the gross receipts tax portion is assumed to be less than $50.0.
The local government road fund and municipal arterial road fund would also experience a recurring loss of revenue.
The bill proposes a constitutional amendment which would cost $17.0 to publish the amendment and have it translated into Native American dialects.
TECHNICAL ISSUES
See the attached comments from TRD.
RAE/njw
Attachment