SENATE BILL 251

52nd legislature - STATE OF NEW MEXICO - second session, 2016

INTRODUCED BY

John Arthur Smith

AN ACT

RELATING TO TAXATION; INCREASING THE GASOLINE TAX AND THE SPECIAL FUEL EXCISE TAX BY FIVE CENTS ($.05).

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 ($.17)] twenty-two cents ($.22) per gallon received in New Mexico.

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

     SECTION 2. Section 7-16A-3 NMSA 1978 (being Laws 1992, Chapter 51, Section 3, as amended) is amended to read:

     "7-16A-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS SPECIAL FUEL EXCISE TAX.--

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

          B. The tax imposed by Subsection A of this section shall be [twenty-one cents ($.21)] twenty-six cents ($.26) per gallon of special fuel received or used in New Mexico.

          C. The tax imposed by this section may be called the "special fuel excise tax"."

     SECTION 3. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2016.

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