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SPONSOR: |
Rainaldi |
DATE TYPED: |
02/25/03 |
HB |
|
||
SHORT TITLE: |
Special Plates for NM HS Rodeo Association |
SB |
493 |
||||
|
ANALYST: |
Hayes |
|||||
REVENUE
Estimated Revenue |
Subsequent Years Impact |
Recurring or
Non-Rec |
Fund Affected |
|
FY04 |
FY05 |
|
|
|
$0.1 |
$0.1 |
-0- |
Nonrecurring |
Motor
Vehicle Division, General Fund: $10 per plate |
$0.1 |
$0.1 |
$0.1 |
Recurring |
NM
HS Rodeo Association |
-0- |
-0- |
$0.1 |
Recurring effective FY06 |
*Local
Govts: $3.33 per plate |
-0- |
-0- |
$0.1 |
Recurring effective FY06 |
State
Road Fund: $6.67 per plate |
(Parenthesis ( ) Indicate Revenue Decreases) $0.1 = unknown revenue amount
*Local
Government funds include distributions to various county general funds and
roads funds, municipal road uses, and county and municipal general funds.
Relates to various specialty license plates
proposed by the House and Senate.
Responses
Received From
Taxation
and Revenue Department (TRD)
SUMMARY
Synopsis
of Bill
Senate Bill 493 adds a
new section to Chapter 66-3-424 NMSA 1978 by directing the Motor Vehicle
Division of the Taxation and Revenue Department to establish and issue a
special New Mexico High School Rodeo Association license plate. The special license plate will be $35.00 for
the initial issuance, and if the individual wishes to retain the rodeo
association license plate in subsequent years.
The effective date of
the provisions of this legislation is July 1, 2003.
Significant
Issues
FISCAL IMPLICATIONS
Pursuant to SB 493,
the portion of the fee that MVD receives, $10, would cover the cost of
manufacturing the rodeo license plate its first two years. After FY05, no revenue is directed to MVD to
continue covering the cost of production.
According to TRD,
there are less than 300 members of the NM High School Rodeo Association. It is unknown if all of these members would
acquire the specialty license plate. In
this analysis, it is assumed that the fiscal impact during the first year would
probably involve the sale of fewer than 300 plates. If so, revenue to the state, specifically MVD, would be less than
$3,000. A minimum order of
sheeting/shipping/design/labor costs MVD approximately $5,000.
After the first or
second year of issuance, the recurring demand and revenue generated from the
rodeo association plates would be minimal.
It is unclear whether
demand would outweigh the costs of manufacturing the New Mexico High School
Rodeo Association license plates.
RELATIONSHIP
Other specialty
license plates requested during the 2003 session:
HB 75, Armed Forces Retirees Special License
HB 201, Special Plates
for Retired Firefighters (duplicate of SB 496)
HB 378, Special Plates
for Retired NM Letter Carriers
HB 379, Special Plates
for Letter Carriers
HB 520, Special Plates
for National Guard Members
HB 566, Special Plates
for Supporting Spayed Pets
HB 602, Special Plates
for Retired NM National Guard (duplicate of SB 622)
HB 635, Special Plates
for NM Fraternal Order of Police
HB 656, Special Plates
for Wildlife Artwork
HB 704, License Plates
for Civil Air Patrol, New Mexico Wing
HB 760, Special
Commemorative Route 66 License Plate (duplicate of SB 770)
SB 197, License Plate for Active Duty Servicemen
SB 210, License Plates for Retired State Police
SB 211, License Plates for NM Mail Carriers
SB 493, Special Plates for NM HS Rodeo Association
SB 496, Special Plates for Retired Firefighters
(duplicate of HB 201)
SB 549, Special Plates for Search and Rescue Members
SB 622, Special Plates for Retired NM National Guard
(duplicate of HB 602)
SB 693, License Plates for Disabled Veterans
SB 770, Special Commemorative Route 66 License Plate
(duplicate of HB 760)
POSSIBLE QUESTIONS
CMH/yr/njw