0001| HOUSE BILL 710
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0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
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0003| 1996
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0004| INTRODUCED BY
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0005| DANIEL P. SILVA
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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|
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0011| AN ACT
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0012| RELATING TO TAXATION; INCREASING THE GASOLINE AND SPECIAL FUEL
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0013| TAX RATES; AUTHORIZING THE ISSUANCE OF AN ADDITIONAL AMOUNT OF
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0014| STATE HIGHWAY BONDS; AMENDING SECTIONS OF THE NMSA 1978.
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0015|
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0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. Section 7-1-6.7 NMSA 1978 (being Laws 1994,
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0018| Chapter 5, Section 2, as amended by Laws 1995, Chapter 6,
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0019| Section 1 and also by Laws 1995, Chapter 36, Section 1) is
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0020| amended to read:
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0021| "7-1-6.7. DISTRIBUTIONS--STATE AVIATION FUND.--
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0022| A. A distribution pursuant to Section 7-1-6.1 NMSA
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0023| 1978 shall be made to the state aviation fund in an amount equal
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0024| to three and fifty-nine hundredths percent of the gross receipts
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0025| attributable to the sale of fuel specially prepared and sold for
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0001| use in turboprop or jet-type engines as determined by the
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0002| department.
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0003| B. A distribution pursuant to Section 7-1-6.1 NMSA
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0004| 1978 shall be made to the state aviation fund in an amount equal
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0005| to [twenty-six hundredths] two-tenths of one percent of
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0006| gasoline taxes, exclusive of penalties and interest, collected
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0007| pursuant to the Gasoline Tax Act."
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0008| Section 2. Section 7-1-6.8 NMSA 1978 (being Laws 1983,
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0009| Chapter 211, Section 13, as amended) is amended to read:
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0010| "7-1-6.8. DISTRIBUTION--MOTORBOAT FUEL TAX FUND.--A
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0011| distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made
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0012| to the motorboat fuel tax fund in an amount equal to [thirteen
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hundredths] one-tenth of one percent of the net receipts
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0014| attributable to the gasoline tax."
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0015| Section 3. Section 7-1-6.9 NMSA 1978 (being Laws 1991,
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0016| Chapter 9, Section 11, as amended) is amended to read:
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0017| "7-1-6.9. DISTRIBUTION OF GASOLINE TAXES TO MUNICIPALITIES
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0018| AND COUNTIES.--
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0019| A. A distribution pursuant to Section 7-1-6.1 NMSA
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0020| 1978 shall be made in an amount equal to [ten and thirty-eight
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hundredths] eight and two-tenths percent of the net receipts
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0022| attributable to the taxes, exclusive of penalties and interest,
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0023| imposed by the Gasoline Tax Act.
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0024| B. The amount determined in Subsection A of this
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0025| section shall be distributed as follows:
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0001| (1) ninety percent of the amount shall be paid
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0002| to the treasurers of municipalities and H class counties in the
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0003| proportion that the taxable motor fuel sales in each of the
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0004| municipalities and H class counties bears to the aggregate
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0005| taxable motor fuel sales in all of these municipalities and H
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0006| class counties; and
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0007| (2) ten percent of the amount shall be paid to
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0008| the treasurers of the counties, including H class counties, in
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0009| the proportion that the taxable motor fuel sales outside of
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0010| incorporated municipalities in each of the counties bears to the
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0011| aggregate taxable motor fuel sales outside of incorporated
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0012| municipalities in all of the counties.
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0013| C. This distribution shall be paid into the
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0014| municipal treasury or county general fund for general purposes
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0015| or for any special purposes designated by the governing body of
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0016| the municipality or county. Any municipality or H class county
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0017| that has created or that creates a "street improvement fund" to
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0018| which gasoline tax revenues or distributions are irrevocably
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0019| pledged under Sections 3-34-1 through 3-34-4 NMSA 1978 or that
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0020| has pledged all or a portion of gasoline tax revenues or
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0021| distributions to the payment of bonds shall receive its
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0022| proportion of the distribution of revenues under this section
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0023| impressed with and subject to these pledges."
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0024| Section 4. Section 7-1-6.10 NMSA 1978 (being Laws 1983,
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0025| Chapter 211, Section 15, as amended by Laws 1995, Chapter 6,
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0001| Section 4 and also by Laws 1995, Chapter 16, Section 11) is
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0002| amended to read:
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0003| "7-1-6.10. DISTRIBUTIONS--STATE ROAD FUND.--
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0004| A. A distribution pursuant to Section 7-1-6.1 NMSA
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0005| 1978 shall be made to the state road fund in an amount equal to
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0006| the net receipts attributable to the taxes, surcharges,
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0007| penalties and interest imposed pursuant to the Gasoline Tax Act
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0008| and to the taxes, surtaxes, fees, penalties and interest imposed
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0009| pursuant to the Special Fuels Tax Act, the Special Fuels
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0010| Supplier Tax Act and the Alternative Fuel Tax Act less:
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0011| (1) the amount distributed to the state
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0012| aviation fund pursuant to Subsection [C] B of Section
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0013| 7-1-6.7 NMSA 1978;
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0014| (2) the amount distributed to the motorboat
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0015| fuel tax fund pursuant to Section 7-1-6.8 NMSA 1978;
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0016| (3) the amount distributed to municipalities
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0017| and counties pursuant to Subsection A of Section 7-1-6.9 NMSA
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0018| 1978;
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0019| (4) the amount distributed to the county
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0020| government road fund pursuant to Section 7-1-6.19 NMSA 1978;
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0021| (5) the amount distributed to the [corrective
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action] local governments road fund pursuant to Section
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0023| [7-1-6.25] 7-1-6.39 NMSA 1978;
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0024| (6) the amount distributed to the
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0025| municipalities pursuant to Section 7-1-6.27 NMSA 1978; and
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0001| (7) the amount distributed to the municipal
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0002| arterial program [and] of the local governments road fund
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0003| pursuant to Section 7-1-6.28 NMSA 1978 [and
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(8) the amount distributed to the general fund
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pursuant to Section 7-1-6.37 NMSA 1978].
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0006| B. A distribution pursuant to Section 7-1-6.1 NMSA
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0007| 1978 shall be made to the state road fund in an amount equal to
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0008| the net receipts attributable to the taxes, fees, interest and
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0009| penalties from the Weight Distance Tax Act."
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0010| Section 5. Section 7-1-6.19 NMSA 1978 (being Laws 1991,
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0011| Chapter 9, Section 15, as amended) is amended to read:
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0012| "7-1-6.19. DISTRIBUTION--COUNTY GOVERNMENT ROAD FUND
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0013| CREATED.--
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0014| A. There is created in the state treasury the
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0015| "county government road fund".
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0016| B. A distribution pursuant to Section 7-1-6.1 NMSA
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0017| 1978 shall be made to the county government road fund in an
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0018| amount equal to [five and seventy-six hundredths] four and
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0019| forty-five hundredths percent of the net receipts attributable
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0020| to the gasoline tax."
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0021| Section 6. Section 7-1-6.27 NMSA 1978 (being Laws 1991,
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0022| Chapter 9, Section 20, as amended) is amended to read:
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0023| "7-1-6.27. DISTRIBUTION--MUNICIPAL ROADS.--
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0024| A. A distribution pursuant to Section 7-1-6.1 NMSA
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0025| 1978 shall be made to municipalities for the purposes and
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0001| amounts specified in this section in an aggregate amount equal
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0002| to [five and seventy-six hundredths] four and forty-five
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0003| hundredths percent of the net receipts attributable to the
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0004| gasoline tax.
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0005| B. The distribution authorized in this section shall
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0006| be used for the following purposes:
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0007| (1) reconstructing, resurfacing, maintaining,
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0008| repairing or otherwise improving existing alleys, streets, roads
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0009| or bridges, or any combination of the foregoing; or laying off,
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0010| opening, constructing or otherwise acquiring new alleys,
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0011| streets, roads or bridges, or any combination of the foregoing;
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0012| provided that any of the foregoing improvements may include, but
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0013| are not limited to, the acquisition of rights of way; and
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0014| (2) for expenses of purchasing, maintaining and
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0015| operating transit operations and facilities, for the operation
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0016| of a transit authority established by the municipal transit law
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0017| and for the operation of a vehicle emission inspection program.
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0018| A municipality may engage in the business of the transportation
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0019| of passengers and property within the political subdivision by
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0020| whatever means the municipality may decide and may acquire cars,
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0021| trucks, motor buses and other equipment necessary for operating
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0022| the business. A municipality may acquire land, erect buildings
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0023| and equip the buildings with all the necessary machinery and
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0024| facilities for the operation, maintenance, modification, repair
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0025| and storage of the cars, trucks, motor buses and other equipment
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0001| needed. A municipality may do all things necessary for the
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0002| acquisition and the conduct of the business of public
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0003| transportation.
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0004| C. For the purposes of this section:
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0005| (1) "computed distribution amount" means the
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0006| distribution amount calculated for a municipality for a month
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0007| pursuant to Paragraph (2) of Subsection D of this section prior
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0008| to any adjustments to the amount due to the provisions of
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0009| Subsections E and F of this section;
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0010| (2) "floor amount" means four hundred seventeen
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0011| dollars ($417);
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0012| (3) "floor municipality" means a municipality
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0013| whose computed distribution amount is less than the floor
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0014| amount; and
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0015| (4) "full distribution municipality" means a
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0016| municipality whose population at the last federal decennial
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0017| census was at least two hundred thousand.
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0018| D. Subject to the provisions of Subsections E and F
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0019| of this section, each municipality shall be distributed a
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0020| portion of the aggregate amount distributable under this section
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0021| in an amount equal to the greater of:
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0022| (1) the floor amount; or
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0023| (2) eighty-five percent of the aggregate amount
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0024| distributable under this section times a fraction, the numerator
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0025| of which is the municipality's reported taxable gallons of
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0001| gasoline for the immediately preceding state fiscal year and the
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0002| denominator of which is the reported total taxable gallons for
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0003| all municipalities for the same period.
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0004| E. Fifteen percent of the aggregate amount
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0005| distributable under this section shall be referred to as the
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0006| "redistribution amount". Beginning in August 1990, and each
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0007| month thereafter, from the redistribution amount there shall be
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0008| taken an amount sufficient to increase the computed distribution
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0009| amount of every floor municipality to the floor amount. In the
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0010| event that the redistribution amount is insufficient for this
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0011| purpose, the computed distribution amount for each floor
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0012| municipality shall be increased by an amount equal to the
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0013| redistribution amount times a fraction, the numerator of which
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0014| is the difference between the floor amount and the
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0015| municipality's computed distribution amount and the denominator
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0016| of which is the difference between the product of the floor
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0017| amount multiplied by the number of floor municipalities and the
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0018| total of the computed distribution amounts for all floor
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0019| municipalities.
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0020| F. If a balance remains after the redistribution
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0021| amount has been reduced pursuant to Subsection E of this
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0022| section, there shall be added to the computed distribution
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0023| amount of each municipality that is neither a full distribution
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0024| municipality nor a floor municipality an amount that equals the
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0025| balance of the redistribution amount times a fraction, the
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0001| numerator of which is the computed distribution amount of the
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0002| municipality and the denominator of which is the sum of the
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0003| computed distribution amounts of all municipalities that are
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0004| neither full distribution municipalities nor floor
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0005| municipalities."
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0006| Section 7. Section 7-1-6.28 NMSA 1978 (being Laws 1991,
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0007| Chapter 9, Section 22, as amended) is amended to read:
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0008| "7-1-6.28. DISTRIBUTION--MUNICIPAL ARTERIAL PROGRAM OF
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0009| LOCAL GOVERNMENTS ROAD FUND.--A distribution pursuant to Section
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0010| 7-1-6.1 NMSA 1978 shall be made to the municipal arterial
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0011| program of the local governments road fund created in Section
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0012| 67-3-28.2 NMSA 1978 in an amount equal to [one and forty-four
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hundredths] one and eleven hundredths percent of the net
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0014| receipts attributable to the gasoline tax."
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0015| Section 8. Section 7-13-3 NMSA 1978 (being Laws 1971,
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0016| Chapter 207, Section 3, as amended) is amended to read:
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0017| "7-13-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS
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0018| "GASOLINE TAX".--
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0019| A. For the privilege of receiving gasoline in this
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0020| state, there is imposed an excise tax at a rate provided in
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0021| Subsection B of this section on each gallon of gasoline
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0022| received in New Mexico.
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0023| B. The tax imposed by Subsection A of this section
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0024| shall be [seventeen cents ($.17)] twenty-two cents ($.22)
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0025| per gallon received in New Mexico.
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0001| C. The tax imposed by this section may be called the
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0002| "gasoline tax"."
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0003| Section 9. That version of Section 7-13-3 NMSA 1978 (being
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0004| Laws 1995, Chapter 6, Section 11) is amended to read:
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0005| "7-13-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS
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0006| "GASOLINE TAX".--
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0007| A. For the privilege of receiving gasoline in this
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0008| state, there is imposed an excise tax at a rate provided in
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0009| Subsection B of this section on each gallon of gasoline
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0010| received in New Mexico.
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0011| B. The tax imposed by Subsection A of this section
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0012| shall be [sixteen cents ($.16)] twenty-one cents ($.21) per
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0013| gallon received in New Mexico.
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0014| C. The tax imposed by this section may be called the
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0015| "gasoline tax"."
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0016| Section 10. Section 7-16A-3 NMSA 1978 (being Laws 1992,
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0017| Chapter 51, Section 3, as amended) is amended to read:
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0018| "7-16A-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS
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0019| SPECIAL FUEL EXCISE TAX.--
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0020| A. For the privilege of receiving or using special
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0021| fuel in this state, there is imposed an excise tax at a rate
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0022| provided in Subsection B of this section on each gallon of
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0023| special fuel received in New Mexico.
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0024| B. The tax imposed by Subsection A of this section
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0025| shall be [eighteen cents ($.18)] twenty-one cents ($.21) per
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0001| gallon of special fuel received or used in New Mexico.
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0002| C. The tax imposed by this section may be called the
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0003| "special fuel excise tax"."
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0004| Section 11. Section 67-3-59.1 NMSA 1978 (being Laws 1989,
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0005| Chapter 157, Section 1, as amended) is amended to read:
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0006| "67-3-59.1. STATE HIGHWAY DEBENTURES--ISSUANCE--LIMITS--
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0007| APPROVAL--COUPONS.--
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0008| A. In order to provide funds to finance state
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0009| highway projects, including 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 as authorized by federal legislation,
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0012| the state highway commission is authorized to issue bonds from
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0013| time to time, payable from the proceeds of the collection of
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0014| gasoline excise taxes and motor vehicle registration fees that
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0015| are required by law to be paid into the state road fund and not
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0016| otherwise pledged solely to the payment of outstanding bonds and
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0017| debentures.
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0018| B. The total aggregate outstanding principal amount
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0019| of bonds issued from time to time pursuant to this section,
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0020| secured by or payable from the gasoline excise taxes and motor
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0021| vehicle registration fees, shall not, without additional
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0022| authorization of the state legislature, exceed [one hundred
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fifty million dollars ($150,000,000)] seven hundred fifty
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0024| million dollars ($750,000,000) at any given time, subject to
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0025| the following provisions:
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0001| (1) the total aggregate outstanding principal
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0002| amount of bonds issued for 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 as authorized by federal legislation
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0005| shall not exceed one hundred million dollars ($100,000,000); and
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0006| (2) the total aggregate outstanding principal
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0007| amount of bonds issued for state highway projects other than
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0008| state highway projects that are required for the waste isolation
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0009| pilot project and are eligible for federal reimbursement as
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0010| authorized by federal legislation shall not exceed [fifty
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million dollars ($50,000,000)] six hundred fifty million
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0012| dollars ($650,000,000).
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0013| C. The state highway commission may issue bonds to
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0014| refund other bonds issued pursuant to this section by exchange
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0015| or current or advance refunding.
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0016| D. Each series of bonds shall have a maturity of no
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0017| more than twenty-five years from the date of issuance. The
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0018| state highway commission shall determine all other terms,
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0019| covenants and conditions of the bonds; provided that the bonds
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0020| shall not be issued pursuant to this section unless the state
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0021| board of finance approves the issuance of the bonds and the
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0022| principal amount of and interest rate or maximum net effective
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0023| interest rate on the bonds.
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0024| E. The bonds shall be executed with the manual or
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0025| facsimile signatures of the chairman of the state highway
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0001| commission, countersigned by the state treasurer and attested to
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0002| by the secretary of the state highway commission, with the seal
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0003| of the state highway commission imprinted or otherwise affixed
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0004| to the bonds.
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0005| F. Proceeds of the bonds may be used to pay expenses
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0006| incurred in the preparation, issuance and sale of the bonds and,
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0007| together with the earnings on the proceeds of the bonds, may be
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0008| used to pay rebate, penalty, interest and other obligations
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0009| relating to the bonds and the proceeds of the bonds under the
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0010| Internal Revenue Code of 1986, as amended.
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0011| G. The bonds may be sold at public or private sale.
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0012| If sold at public sale, a notice of the time and place of sale
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0013| shall be published in a newspaper of general circulation in the
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0014| state, and in any other newspaper determined in the resolution
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0015| authorizing the issuance of the bonds, once each week for two
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0016| consecutive weeks prior to the date of sale. The bonds may be
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0017| purchased by the state treasurer or state investment officer.
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0018| H. This section is full authority for the issuance
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0019| and sale of the bonds, and the bonds shall not be invalid for
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0020| any irregularity or defect in the proceedings for their issuance
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0021| and sale and shall be incontestable in the hands of bona fide
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0022| purchasers or holders of the bond for value.
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0023| I. The bonds shall be legal investments for any
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0024| person or board charged with the investment of public funds and
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0025| may be accepted as security for any deposit of public money and,
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0001| with the interest thereon, are exempt from taxation by the state
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0002| and any political subdivision or agency of the state."
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0003| Section 12. EFFECTIVE DATE.--
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0004| A. The effective date of the provisions of Sections
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0005| 4, 8 and 10 of this act is July 1, 1996.
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0006| B. The effective date of the provisions of Sections
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0007| 1 through 3 and 5 through 7 of this act is August 1, 1996.
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0008|
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0009|
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