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| SPONSOR: | Stockard | DATE TYPED: | 02/07/00 | HB | |||
| SHORT TITLE: | Special Plated for Volunteer Firefighters | SB | 354 | ||||
| ANALYST: | Eaton | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY00 | FY01 | |||
| $ 36.9 | Recurring | Road Fund | ||
| $ 18.6 | Recurring | Counties | ||
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
Public Employees Retirement Association (PERA)
Index to Revenue Sources of New Mexico
SUMMARY
Synopsis of Bill
This bill would give volunteer firefighters their own specialized plates for their vehicles that would identify them as volunteer fire fighters.
As of June 30, 1999 there were approximately 11,230 volunteer firefighters in New Mexico.
The fee collected will be deposited to the motor vehicle suspense fund. Of the $25 fee for specialized plates, $10 goes to the Taxation and Revenue Department to defray costs of issuance and $15 dollars is distributed to the state road fund (66.5%), and the rest is distributed counties based upon proportional mileage of roads and registrations.
FISCAL IMPLICATIONS
This bill would increase revenues to the state road fund by an estimated $39.6 and $18.6 to counties.
The estimated fiscal impact is based upon the assumption that 33% of volunteer firefighters will elect to purchase a specialized plate. The estimate also takes into account annual growth rate of membership (8.6%).
JE/njw