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| SPONSOR: | Hurt | DATE TYPED: | 02/14/01 | HB | |||
| SHORT TITLE: | Additional Motor Vehicle Registration Fee | SB | 438 | ||||
| ANALYST: | Gonzales | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY01 | FY02 | FY01 | FY02 | ||
| $ 3,100.0 | Recurring | OSF | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
| $3,100.0* | Recurring | Motor Vehicle Division TRD Administrative Fund | ||
*Denotes a full year of expected revenue.
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
Taxation and Revenue Department
SUMMARY
Synopsis of Bill
Senate Bill 438 adds a new section to the Motor Vehicle Code (Code) to add $2.00 dollars per 12-month period to the motor vehicle registration fees for passenger vehicles and trucks with a gross vehicle weight under twenty-six thousand pounds. Additionally, the Code is amended so the additional collections are distributed monthly to the Motor Vehicle Division of the Taxation and Revenue Department for the purposes of enforcing the provisions of the Mandatory Financial Responsibility Act and for creating and maintaining a multilanguage noncommercial driver's license testing program.
FISCAL IMPLICATIONS
The estimated $3,100.0 contained in this bill is a recurring revenue to the Motor Vehicle Division of the Taxation and Revenue Department and is appropriated to the TRD administrative fund. This estimation is based on the assumption there would be 1,548.0 cars and light trucks, which was the peak number for FY98.
Continuing Appropriations
This bill allows additional funds to go into the Motor Vehicle Division administrative fund and provides for continuing appropriations. The LFC objects to including continuing appropriation language in the statutory provisions for new or existing funds. Earmarking reduces the ability of the legislature to establish spending priorities.
ADMINISTRATIVE IMPLICATIONS
According to the Taxation and Revenue Department, the additional funds appropriated for the purposes indicated increases financial support for enforcing the Mandatory Financial Responsibility Act and multilanguage testing program and would improve administration of New Mexico's transportation system.
JMG/ar/njw