SENATE BILL 168

55th legislature - STATE OF NEW MEXICO - first session, 2021

INTRODUCED BY

Roberto "Bobby" J. Gonzales and Bill Tallman

AN ACT

RELATING TO TAXATION; INCREMENTALLY INCREASING THE GASOLINE TAX AND THE SPECIAL FUEL EXCISE 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)] equal to the following amounts per gallon of gasoline received in New Mexico during the following periods:

                (1) prior to July 1, 2021, seventeen cents ($.17);

                (2) from July 1, 2021 through June 30, 2022, eighteen cents ($.18);

                (3) from July 1, 2022 through June 30, 2023, nineteen cents ($.19);

                (4) from July 1, 2023 through June 30, 2024, twenty cents ($.20);

                (5) from July 1, 2024 through June 30, 2025, twenty-one cents ($.21); and

                (6) on or after July 1, 2025, twenty-two cents ($.22).

          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)] equal to the following amounts per gallon of special fuel received or used in New Mexico during the following periods:

                (1) prior to July 1, 2021, twenty-one cents ($.21);

                (2) from July 1, 2021 through June 30, 2022, twenty-two cents ($.22);

                (3) from July 1, 2022 through June 30, 2023, twenty-three cents ($.23);

                (4) from July 1, 2023 through June 30, 2024, twenty-four cents ($.24);

                (5) from July 1, 2024 through June 30, 2025, twenty-five cents ($.25); and

                (6) on or after July 1, 2025, twenty-six cents ($.26).

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

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