HB 78 — AVIATION FUND GRT DISTRIBUTION SUNSET

HOUSEAN BILLACT 78RELATING 56THTO LEGISLATURETAXATION; - STATEOFNEWMEXICO- FIRST SESSION, 2023 INTRODUCED BY Dayan Hochman-Vigil This document may incorporate amendments proposed by a committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.

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hINCREASING ANANOTHER ACTDISTRIBUTION gOF oTHE RELATINGGROSS RECEIPTS TAX TO TAXATION;THE STATE AVIATION FUND.

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INCREASINGSECTION ANOTHER1. DISTRIBUTION OF THE GROSS RECEIPTS TAX h , t, TO THE STATE AVIATION FUND.

eSection u7-1-6.7 gNMSA e1978 b(being lLaws e1994, eChapter h5, nSection d2, das iamended) =is =amended oto hread: BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

l"7-1-6.7. ] b ,d i a º e SECTION 1.

Section 7-1-6.7 NMSA 1978 (being Laws 1994, r i = r t e w d m a n o Chapter 5, Section 2, as amended) is amended to read:

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b e d s º o t n = .223730.1AIC January 31, 2023 (3:44pm) s k m e e a n e d r e l u [ A d "7-1-6.7.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state aviation fund in an amount equal to four and seventy-nine hundredths percent of the taxable gross receipts attributable to the sale of fuel specially prepared and sold for use in turboprop or jet-type engines as determined by the department.

A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state aviation fund in an amount equal to twenty-six hundredths percent of gasoline taxes, exclusive of penalties and interest, collected pursuant to the Gasoline Tax Act.

[From July 1, 2013 through June 30, 2031 ] A distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the state aviation fund in an amount equal to forty-six thousandths percent of the net receipts attributable to the h gross receipts tax distributable to the HB 78/a Page 1 general fund.

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A distribution pursuant to Section 7-1-6.1 NMSA g e i k 1978 shall be made to the state aviation fund from the net h r i s receipts attributable to the gross receipts tax distributable h , t, to the general fund in an amount equal to efive uhundred g e b l e e h [(1) eighty thousand dollars ($80,000)($500,000) monthlymonthly." nSECTION d2. d i = = o h from July 1, 2007 through June 30, 2008;

l ] b ,d i a º e (2) one hundred sixty-seven thousand dollars r i = r t e w d m a n o ($167,000) monthly from July 1, 2008 through June 30, 2009;

and d m :

b e d s º o t n = .223730.1AIC January 31, 2023 (3:44pm) s k m e - 2 - e a n e d r e l u [ A d (3) two hundred fifty thousand dollars ($250,000) monthly after July 1, 2009] five hundred thousand dollars ($500,000) HTPWCºmonthly»HTPWC ." SECTION 2.

-HB 378/a -Page »2 g25 o » r h t i k l i g t h s , e h t l i w l b l e e , gh n d l h = = b , a l º d i a r e r = , a t e d m a n o d m :

b r e t º o t n = .223730.1AIC January 31, 2023 (3:44pm) s k m e e a n e d r e l u [ A d