SB 76

                                1  SENATE BILL 76
                                2     57TH LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 2026
                                3  INTRODUCED BY
                                4     Roberto "Bobby" J. Gonzales and Joy Garratt and Leo Jaramillo
                                5  and Heather Berghmans and Antonio Maestas
                                6
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                                10  AN ACT
                                11   RELATING TO TAXATION; INCREASING THE GASOLINE TAX AND THE
                                12   SPECIAL FUEL EXCISE TAX.
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                                14   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
                                15        SECTION 1.     Section 7-13-3 NMSA 1978 (being Laws 1971,
                                16   Chapter 207, Section 3, as amended) is amended to read:
[bracketed material] = delete
                                17        "7-13-3.     IMPOSITION AND RATE OF TAX--DENOMINATION AS
underscored material = new
                                18   "GASOLINE TAX".--
                                19  A.   For the privilege of receiving gasoline in this
                                20   state, there is imposed an excise tax at a rate provided in
                                21   Subsection B of this section on each gallon of gasoline
                                22   received in New Mexico.
                                23  B.   The tax imposed by Subsection A of this section
                                24   shall be [seventeen cents ($.17)] twenty-three cents ($.23) per
                                25   gallon received in New Mexico.
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                                1  C.   The tax imposed by this section may be called
                                2    the "gasoline tax"."
                                3  SECTION 2.    Section 7-16A-3 NMSA 1978 (being Laws 1992,
                                4    Chapter 51, Section 3, as amended) is amended to read:
                                5  "7-16A-3.    IMPOSITION AND RATE OF TAX--DENOMINATION AS
                                6    SPECIAL FUEL EXCISE TAX.--
                                7  A.   For the privilege of receiving or using special
                                8    fuel in this state, there is imposed an excise tax at a rate
                                9    provided in Subsection B of this section on each gallon of
                                10   special fuel received in New Mexico.
                                11  B.   The tax imposed by Subsection A of this section
                                12   shall be [twenty-one cents ($.21)] twenty-six cents ($.26) per
                                13   gallon of special fuel received or used in New Mexico.
                                14  C.   The tax imposed by this section may be called
                                15   the "special fuel excise tax"."
                                16        SECTION 3.    EFFECTIVE DATE.--The effective date of the
[bracketed material] = delete
                                17   provisions of this act is July 1, 2026.
underscored material = new
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