45th legislature - STATE OF NEW MEXICO - second session, 2002

RELATING TO TAXATION; CHANGING THE DISTRIBUTION OF MOTOR VEHICLE EXCISE TAX REVENUES; PHASING IN DISTRIBUTIONS TO THE STATE ROAD FUND AND TO MUNICIPALITIES AND COUNTIES FOR LOCAL ROAD AND TRANSPORTATION PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. Section 7-14-10 NMSA 1978 (being Laws 1988, Chapter 73, Section 20, as amended) is amended to read:

"7-14-10. DISTRIBUTION OF PROCEEDS.--

A. The receipts from the tax and any associated interest and penalties shall be deposited in the "motor vehicle suspense fund", hereby created in the state treasury. As of the end of each month, the net receipts attributable to the tax and associated penalties and interest shall be distributed [to the general fund] as follows:

(1) for the period from July 1, 2002 through June 30, 2003, two-thirds to the general fund, one-ninth to the state road fund, one-ninth to counties pursuant to Subsection B of this section and one-ninth to municipalities pursuant to Subsection C of this section;

(2) for the period from July 1, 2003 through June 30, 2004, one-third to the general fund, two-ninths to the state road fund, two-ninths to counties pursuant to Subsection B of this section and two-ninths to municipalities pursuant to Subsection C of this section; and

(3) after June 30, 2004, one-third to the state road fund, one-third to counties pursuant to Subsection B of this section and one-third to municipalities pursuant to Subsection C of this section.

B. From the amount allocated to counties pursuant to Subsection A of this section, each county shall receive an amount equal to the proportion that the mileage of public roads maintained by the county is to the total mileage of public roads maintained by all counties in the state. The mileage of public roads maintained by each county shall be determined by the secretary of highway and transportation in accordance with Section 67-3-28.3 NMSA 1978. Amounts distributed to each county in accordance with this subsection shall be used solely for improvement and maintenance of the public roads in the county, acquisition of rights of way and materials pits or other transportation-related materials and projects.

C. From the amount allocated to municipalities pursuant to Subsection A of this section, each municipality shall receive an amount equal to the proportion that the population of the municipality is to the total population of all municipalities in the state. The population used shall be that of the most recent federal decennial census. Amounts distributed to each municipality in accordance with this subsection shall be used by the municipality solely for improvement and maintenance of streets within the municipality; payment of paving assessments against property owned by federal, county or municipal governments; or other transportation-related materials and projects.

D. The distributions to counties and municipalities pursuant to Subsection A of this section shall be made by the state treasurer on or before the last day of the month following the month in which the revenues are received. The secretary of highway and transportation shall certify annually to the state treasurer the mileage of public roads maintained by each county. If the certified mileage of a county changes after the annual certification, the secretary of highway and transportation shall notify the state treasurer of the change no later than one month after the change."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2002.