New Mexico 2026 Regular Session Status: Enacted 4 D cosponsors

SB 2 — STATE HIGHWAY PROJECT BONDS

Last action — Signed

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 20, 2026. Enacted.

Signed by Governor Michelle Lujan Grisham (Democratic) on February 07, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 60% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 5 sponsors

    5 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (4 D).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

769 added · 993 removed

Plain-language change summary

The latest version of SB 2 includes updates that focus on raising funds for highway projects in New Mexico. Key changes include an increase in registration fees for passenger vehicles and additional fees for electric and hybrid vehicles, which will be directed to the state road fund. This is important because it helps ensure that the state has the necessary resources to maintain and improve its transportation infrastructure, particularly as reliance on electric vehicles grows. Additionally, the bill mandates that the Department of Transportation report on how highway projects are prioritized and financed, promoting transparency in funding decisions.

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SENATE BILL 2 57TH LEGISLATURE -STATEOFNEWMEXICO- SECOND SESSION , 2026 INTRODUCED BY Roberto "Bobby" J.
AN ACT RELATING TO THE FINANCING OF HIGHWAY PROJECTS;
Gonzales and George K.
Muñoz and Pete Campos and Art De La Cruz and Benny Shendo, Jr.
7 9 AN ACT RELATING TO THE FINANCING OF HIGHWAY PROJECTS;
REQUIRING THE DEPARTMENT OF TRANSPORTATION TO INCLUDE A REPORT ON HIGHWAY PROJECT SELECTION AND PRIORITIES FINANCED BY BONDS IN ITS e t 17 ANNUAL BUDGET REQUEST;
REQUIRING THE DEPARTMENT OF TRANSPORTATION TO INCLUDE A REPORT ON HIGHWAY PROJECT SELECTION AND PRIORITIES FINANCED BY BONDS IN ITS ANNUAL BUDGET REQUEST;
INCREASING THE WEIGHT DISTANCE TAX FOR w l n d 18 MOTOR VEHICLES OTHER THAN BUSES;
INCREASING THE WEIGHT DISTANCE TAX FOR MOTOR VEHICLES OTHER THAN BUSES;
INCREASING REGISTRATION FEES = = 19 a l FOR PASSENGER VEHICLES;
INCREASING REGISTRATION FEES FOR PASSENGER VEHICLES;
REQUIRING ADDITIONAL REGISTRATION FEES i a e r 20 FOR ELECTRIC AND PLUG-IN HYBRID ELECTRIC VEHICLES AND a t m m 21 DISTRIBUTING THE ADDITIONAL FEES TO THE STATE ROAD FUND;
REQUIRING ADDITIONAL REGISTRATION FEES FOR ELECTRIC AND PLUG-IN HYBRID ELECTRIC VEHICLES AND DISTRIBUTING THE ADDITIONAL FEES TO THE STATE ROAD FUND;
d r e 22 ADJUSTING CERTAIN FORMULAIC DISTRIBUTIONS OF MOTOR VEHICLE c e s k 23 FEES.
ADJUSTING CERTAIN FORMULAIC DISTRIBUTIONS OF MOTOR VEHICLE FEES.
e a n b 24 u [ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
.232625.5GLG SECTION 1.
SECTION 1.
TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES-- REDUCTION OF RATE FOR ONE-WAY HAULS.-- A.
TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES--REDUCTION OF RATE FOR ONE-WAY HAULS.-- A.
Declared Gross Weight Tax Rate (Gross Vehicle Weight) (Mills per Mile) 26,001 to 28,000 [11.01] 14.86 28,001 to 30,000 [11.88] 16.04 30,001 to 32,000 [12.77] 17.24 32,001 to 34,000 [13.64] 18.41 14 34,001 to 36,000 [14.52] 19.60 36,001 to 38,000 [15.39] 20.78 38,001 to 40,000 [16.73] 22.59 e t 17 40,001 to 42,000 [18.05] 24.37 w l n d 18 42,001 to 44,000 [19.36] 26.14 = = 19 44,001 to 46,000 [20.69] 27.93 a l i a e r 20 46,001 to 48,000 [22.01] 29.71 a t m m 21 48,001 to 50,000 [23.33] 31.50 d r e 22 50,001 to 52,000 [24.65] 33.28 c e s k 23 52,001 to 54,000 [25.96] 35.05 e a n b 24 54,001 to 56,000 [27.29] 36.84 u [ 56,001 to 58,000 [28.62] 38.64 .232625.5GLG - 2 - 58,001 to 60,000 [29.93] 40.41 60,001 to 62,000 [31.24] 42.17 62,001 to 64,000 [32.58] 43.98 64,001 to 66,000 [33.90] 45.77 66,001 to 68,000 [35.21] 47.53 68,001 to 70,000 [36.52] 49.30 70,001 to 72,000 [37.86] 51.11 72,001 to 74,000 [39.26] 53.00 74,001 to 76,000 [40.71] 54.96 76,001 to 78,000 [42.21] 56.98 78,001 and over [43.78] 59.10.
Declared Gross Weight Tax Rate (Gross Vehicle Weight) (Mills per Mile) SB 2 Page 1 26,001 to 28,000 14.86 28,001 to 30,000 16.04 30,001 to 32,000 17.24 32,001 to 34,000 18.41 34,001 to 36,000 19.60 36,001 to 38,000 20.78 38,001 to 40,000 22.59 40,001 to 42,000 24.37 42,001 to 44,000 26.14 44,001 to 46,000 27.93 46,001 to 48,000 29.71 48,001 to 50,000 31.50 50,001 to 52,000 33.28 52,001 to 54,000 35.05 54,001 to 56,000 36.84 56,001 to 58,000 38.64 58,001 to 60,000 40.41 60,001 to 62,000 42.17 62,001 to 64,000 43.98 64,001 to 66,000 45.77 66,001 to 68,000 47.53 68,001 to 70,000 49.30 70,001 to 72,000 51.11 72,001 to 74,000 53.00 74,001 to 76,000 54.96 SB 2 Page 2 76,001 to 78,000 56.98 78,001 and over 59.10.
All motor vehicles for which the tax is computed under Subsection A of this section shall pay a tax that is two- thirds of the tax computed under Subsection A of this section if:
All motor vehicles for which the tax is computed under Subsection A of this section shall pay a tax that is two-thirds of the tax computed under Subsection A of this section if:
(1) the motor vehicle is customarily used for e t 17 one-way haul;
(1) the motor vehicle is customarily used for one-way haul;
w l n d 18 (2) forty-five percent or more of the mileage = = 19 a l traveled by the motor vehicle for a registration year is i a e r 20 mileage that is traveled empty of all load;
(2) forty-five percent or more of the mileage traveled by the motor vehicle for a registration year is mileage that is traveled empty of all load;
and a t m m 21 (3) the registrant, owner or operator of the d r e 22 vehicle attempting to qualify under this subsection has made a c e s k 23 sworn application to the department to be classified under this e a n b 24 subsection for a registration year and has given whatever u [ information is required by the department to determine the .232625.5GLG - 3 - eligibility of the vehicle to be classified under this subsection and the vehicle has been so classified." SECTION 2.
and (3) the registrant, owner or operator of the vehicle attempting to qualify under this subsection has made a sworn application to the department to be classified under this subsection for a registration year and has given whatever information is required by the department to determine the eligibility of the vehicle to be classified under this subsection and the vehicle has been so classified." SECTION 2.
A.
SB 2 Page 3 A.
for a vehicle whose gross factory shipping weight is not more than two thousand pounds, [twenty-seven dollars ($27.00)] thirty-three dollars seventy-five cents ($33.75);
for a vehicle whose gross factory shipping weight is not more than two thousand pounds, thirty-three dollars seventy-five cents ($33.75);
provided, however, that after five years of registration, calculated from the date when the vehicle was first registered in this or another state, the fee is [twenty- one dollars ($21.00)] twenty-six dollars twenty-five cents ($26.25);
provided, however, that after five years of registration, calculated from the date when the vehicle was first registered in this or another state, the fee is twenty-six dollars twenty-five cents ($26.25);
e t 17 B.
B.
for a vehicle whose gross factory shipping w l n d 18 weight is more than two thousand but not more than three = = 19 a l thousand pounds, [thirty-nine dollars ($39.00)] forty-eight i a e r 20 dollars seventy-five cents ($48.75);
for a vehicle whose gross factory shipping weight is more than two thousand but not more than three thousand pounds, forty-eight dollars seventy-five cents ($48.75);
provided, however, that a t m m 21 after five years of registration, calculated from the date when d r e 22 the vehicle was first registered in this or another state, the c e s k 23 fee is [thirty-one dollars ($31.00)] thirty-eight dollars e a n b 24 seventy-five cents ($38.75);
provided, however, that after five years of registration, calculated from the date when the vehicle was first registered in this or another state, the fee is thirty-eight dollars seventy-five cents ($38.75);
u [ C.
C.
for a vehicle whose gross factory shipping .232625.5GLG - 4 - weight is more than three thousand pounds, [fifty-six dollars ($56.00)] seventy dollars ($70.00);
for a vehicle whose gross factory shipping weight is more than three thousand pounds, seventy dollars ($70.00);
provided, however, that after five years of registration, calculated from the date when the vehicle was first registered in this or another state, the fee is [forty-five dollars ($45.00)] fifty-six dollars twenty- five cents ($56.25);
provided, however, that after five years of registration, calculated from the date when the vehicle was first registered in this or another state, the fee is fifty-six dollars twenty-five cents ($56.25);
"[NEW MATERIAL] ADDITIONAL REGISTRATION FEE--ELECTRIC AND PLUG-IN HYBRID ELECTRIC VEHICLES.-- A.
SB 2 Page 4 "ADDITIONAL REGISTRATION FEE--ELECTRIC AND PLUG-IN HYBRID ELECTRIC VEHICLES.-- A.
For registration of vehicles subject to the registration fees imposed by Section 66-6-2 NMSA 1978, there is imposed an additional annual fee due at the time of initial e t 17 registration and subsequent registration renewals in the w l n d 18 following amounts for each twelve-month period that an electric = = 19 a l vehicle with a gross vehicle weight of twenty-six thousand i a e r 20 pounds or less is registered:
For registration of vehicles subject to the registration fees imposed by Section 66-6-2 NMSA 1978, there is imposed an additional annual fee due at the time of initial registration and subsequent registration renewals in the following amounts for each twelve-month period that an electric vehicle with a gross vehicle weight of twenty-six thousand pounds or less is registered:
a t m m 21 (1) beginning January 1, 2027 and prior to d r e 22 January 1, 2028, seventy dollars ($70.00);
(1) beginning January 1, 2027 and prior to January 1, 2028, seventy dollars ($70.00);
c e s k 23 (2) beginning January 1, 2028 and prior to e a n b 24 January 1, 2029, eighty dollars ($80.00);
(2) beginning January 1, 2028 and prior to January 1, 2029, eighty dollars ($80.00);
and u [ (3) on and after January 1, 2029, ninety .232625.5GLG - 5 - dollars ($90.00).
and (3) on and after January 1, 2029, ninety dollars ($90.00).
(2) beginning January 1, 2028 and prior to January 1, 2029, forty dollars ($40.00);
(2) beginning January 1, 2028 and prior to SB 2 Page 5 January 1, 2029, forty dollars ($40.00);
All fees collected pursuant to this section shall be paid to the state treasurer to the credit of the motor e t 17 vehicle suspense fund with distribution in accordance with w l n d 18 Section 66-6-23 NMSA 1978.
All fees collected pursuant to this section shall be paid to the state treasurer to the credit of the motor vehicle suspense fund with distribution in accordance with Section 66-6-23 NMSA 1978.
= = 19 a l D.
D.
The division shall determine whether a motor i a e r 20 vehicle is an electric vehicle or a plug-in hybrid electric a t m m 21 vehicle based on the vehicle's fuel type or power train d r e 22 classification as identified through the vehicle identification c e s k 23 number decoding process or other standardized vehicle attribute e a n b 24 data source used by the division." u [ SECTION 4.
The division shall determine whether a motor vehicle is an electric vehicle or a plug-in hybrid electric vehicle based on the vehicle's fuel type or power train classification as identified through the vehicle identification number decoding process or other standardized vehicle attribute data source used by the division." SECTION 4.
Section 66-6-23 NMSA 1978 (being Laws 1978, .232625.5GLG - 6 - Chapter 35, Section 358, as amended) is amended to read:
Section 66-6-23 NMSA 1978 (being Laws 1978, Chapter 35, Section 358, as amended) is amended to read:
(a) an amount equal to six dollars ($6.00) per driver's license and five dollars ($5.00) per identification card or motor vehicle or motorboat registration or title transaction performed;
(a) an amount equal to six dollars ($6.00) per driver's license and five dollars ($5.00) per SB 2 Page 6 identification card or motor vehicle or motorboat registration or title transaction performed;
(b) for each such agent determined by the secretary pursuant to Section 66-2-16 NMSA 1978 to have performed ten thousand or more transactions in the preceding e t 17 fiscal year, other than a class A county with a population w l n d 18 exceeding three hundred thousand or a municipality with a = = 19 a l population exceeding three hundred thousand that has been i a e r 20 designated as an agent pursuant to Section 66-2-14.1 NMSA 1978, a t m m 21 an amount equal to one dollar ($1.00) in addition to the amount d r e 22 distributed pursuant to Subparagraph (a) of this paragraph for c e s k 23 each driver's license, identification card, motor vehicle e a n b 24 registration, motorboat registration or title transaction u [ performed;
(b) for each such agent determined by the secretary pursuant to Section 66-2-16 NMSA 1978 to have performed ten thousand or more transactions in the preceding fiscal year, other than a class A county with a population exceeding three hundred thousand or a municipality with a population exceeding three hundred thousand that has been designated as an agent pursuant to Section 66-2-14.1 NMSA 1978, an amount equal to one dollar ($1.00) in addition to the amount distributed pursuant to Subparagraph (a) of this paragraph for each driver's license, identification card, motor vehicle registration, motorboat registration or title transaction performed;
and .232625.5GLG - 7 - (c) to each military installation designated as a fee agent pursuant to Section 66-2-14.1 NMSA 1978, an amount equal to one dollar fifty cents ($1.50) in addition to the amount distributed pursuant to Subparagraph (a) of this paragraph for each administrative service fee remitted by the military installation to the department pursuant to Subsection A of Section 66-2-16 NMSA 1978;
and (c) to each military installation designated as a fee agent pursuant to Section 66-2-14.1 NMSA 1978, an amount equal to one dollar fifty cents ($1.50) in addition to the amount distributed pursuant to Subparagraph (a) of this paragraph for each administrative service fee remitted by the military installation to the department pursuant to Subsection A of Section 66-2-16 NMSA 1978;
(2) to each municipality or county, other than a class A county with a population exceeding three hundred thousand or a municipality with a population exceeding three hundred thousand that has been designated as an agent pursuant to Section 66-2-14.1 NMSA 1978, operating a motor vehicle field office, an amount equal to one dollar fifty cents ($1.50) for each administrative service fee remitted by that county or municipality to the department pursuant to the provisions of Subsection A of Section 66-2-16 NMSA 1978;
(2) to each municipality or county, other than a class A county with a population exceeding three hundred thousand or a municipality with a population exceeding three hundred thousand that has been designated as SB 2 Page 7 an agent pursuant to Section 66-2-14.1 NMSA 1978, operating a motor vehicle field office, an amount equal to one dollar fifty cents ($1.50) for each administrative service fee remitted by that county or municipality to the department pursuant to the provisions of Subsection A of Section 66-2-16 NMSA 1978;
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e t 17 (3) to the state road fund:
(3) to the state road fund:
w l n d 18 (a) an amount equal to the fees = = 19 a l collected pursuant to Sections 66-7-413 and 66-7-413.4 NMSA i a e r 20 1978;
(a) an amount equal to the fees collected pursuant to Sections 66-7-413 and 66-7-413.4 NMSA 1978;
a t m m 21 (b) an amount equal to the fee collected d r e 22 pursuant to Section 66-3-417 NMSA 1978;
(b) an amount equal to the fee collected pursuant to Section 66-3-417 NMSA 1978;
c e s k 23 (c) the remainder of each driver's e a n b 24 license fee collected by the department employees from an u [ applicant to whom a license is granted after deducting from the .232625.5GLG - 8 - driver's license fee the amount of the distribution authorized in Paragraph (1) of this subsection with respect to that collected driver's license fee;
(c) the remainder of each driver's license fee collected by the department employees from an applicant to whom a license is granted after deducting from the driver's license fee the amount of the distribution authorized in Paragraph (1) of this subsection with respect to that collected driver's license fee;
[and] (d) an amount equal to fifty percent of the fees collected pursuant to Section 66-6-19 NMSA 1978;
(d) an amount equal to fifty percent of the fees collected pursuant to Section 66-6-19 NMSA 1978;
(4) to the local governments road fund, the amount of the fees collected pursuant to Subsection B of Section 66-5-33.1 NMSA 1978 and the remainder of the fees collected pursuant to Subsection A of Section 66-5-408 NMSA 1978;
(4) to the local governments road fund, the amount of the fees collected pursuant to Subsection B of Section 66-5-33.1 NMSA 1978 and the remainder of the fees SB 2 Page 8 collected pursuant to Subsection A of Section 66-5-408 NMSA 1978;
e t 17 (b) an amount equal to two dollars w l n d 18 ($2.00) of each motorcycle registration fee collected pursuant = = 19 a l to Section 66-6-1 NMSA 1978;
(b) an amount equal to two dollars ($2.00) of each motorcycle registration fee collected pursuant to Section 66-6-1 NMSA 1978;
i a e r 20 (c) an amount equal to the fees provided a t m m 21 for in Subsection D of Section 66-2-7 NMSA 1978, Subsection E d r e 22 of Section 66-2-16 NMSA 1978, Subsections K and L of Section c e s k 23 66-3-6 NMSA 1978 other than the administrative fee, Subsection e a n b 24 C of Section 66-5-44 NMSA 1978 and Subsection B of Section u [ 66-5-408 NMSA 1978;
(c) an amount equal to the fees provided for in Subsection D of Section 66-2-7 NMSA 1978, Subsection E of Section 66-2-16 NMSA 1978, Subsections K and L of Section 66-3-6 NMSA 1978 other than the administrative fee, Subsection C of Section 66-5-44 NMSA 1978 and Subsection B of Section 66-5-408 NMSA 1978;
.232625.5GLG - 9 - (d) the amounts due to the department for the manufacture and issuance of a special registration plate collected pursuant to the section of law authorizing the issuance of the specialty plate;
(d) the amounts due to the department for the manufacture and issuance of a special registration plate collected pursuant to the section of law authorizing the issuance of the specialty plate;
and after those purposes are met, the balance of the registration fees shall be distributed to the department to defray the costs of operating the division;
and after those purposes are met, the balance of the SB 2 Page 9 registration fees shall be distributed to the department to defray the costs of operating the division;
e t 17 (g) an amount equal to one dollar w l n d 18 twenty-five cents ($1.25) for each administrative fee collected = = 19 a l by the department or any of its agents other than a county or i a e r 20 municipality operating a motor vehicle field office pursuant to a t m m 21 Subsection A of Section 66-2-16 NMSA 1978;
(g) an amount equal to one dollar twenty-five cents ($1.25) for each administrative fee collected by the department or any of its agents other than a county or municipality operating a motor vehicle field office pursuant to Subsection A of Section 66-2-16 NMSA 1978;
and d r e 22 (h) an amount equal to the royalties or c e s k 23 other consideration paid by commercial users of databases of e a n b 24 motor vehicle-related records of the department pursuant to u [ Subsection C of Section 14-3-15.1 NMSA 1978 for the purpose of .232625.5GLG - 10 - defraying the costs of maintaining databases of motor vehicle- related records of the department;
and (h) an amount equal to the royalties or other consideration paid by commercial users of databases of motor vehicle-related records of the department pursuant to Subsection C of Section 14-3-15.1 NMSA 1978 for the purpose of defraying the costs of maintaining databases of motor vehicle-related records of the department;
(6) to each New Mexico institution of higher education, an amount equal to that part of the fees distributed pursuant to Paragraph (2) of Subsection D of Section 66-3-416 NMSA 1978 proportionate to the number of special registration plates issued in the name of the institution to all such special registration plates issued in the name of all institutions;
(6) to each New Mexico institution of higher education, an amount equal to that part of the fees distributed pursuant to Paragraph (2) of Subsection D of Section 66-3-416 NMSA 1978 proportionate to the number of SB 2 Page 10 special registration plates issued in the name of the institution to all such special registration plates issued in the name of all institutions;
e t 17 (8) to the children's trust fund, the amount w l n d 18 to be distributed pursuant to Paragraph (2) of Subsection D of = = 19 a l Section 66-3-420 NMSA 1978;
(8) to the children's trust fund, the amount to be distributed pursuant to Paragraph (2) of Subsection D of Section 66-3-420 NMSA 1978;
i a e r 20 (9) to the department of transportation, an a t m m 21 amount equal to the fees collected pursuant to Section 66-5-35 d r e 22 NMSA 1978;
(9) to the department of transportation, an amount equal to the fees collected pursuant to Section 66-5-35 NMSA 1978;
c e s k 23 (10) to the state equalization guarantee e a n b 24 distribution made annually pursuant to the general u [ appropriation act, an amount equal to one hundred percent of .232625.5GLG - 11 - the driver safety fee collected pursuant to Subsection D of Section 66-5-44 NMSA 1978;
(10) to the state equalization guarantee distribution made annually pursuant to the general appropriation act, an amount equal to one hundred percent of the driver safety fee collected pursuant to Subsection D of Section 66-5-44 NMSA 1978;
(b) fifty cents ($.50) of each of the tire recycling fees collected pursuant to the provisions of Sections 66-6-2 and 66-6-4 NMSA 1978;
SB 2 Page 11 (b) fifty cents ($.50) of each of the tire recycling fees collected pursuant to the provisions of Sections 66-6-2 and 66-6-4 NMSA 1978;
e t 17 (13) to the highway infrastructure fund:
(13) to the highway infrastructure fund:
w l n d 18 (a) fifty cents ($.50) of the tire = = 19 a l recycling fee collected pursuant to the provisions of Section i a e r 20 66-6-1 NMSA 1978;
(a) fifty cents ($.50) of the tire recycling fee collected pursuant to the provisions of Section 66-6-1 NMSA 1978;
a t m m 21 (b) one dollar ($1.00) of each of the d r e 22 tire recycling fees collected pursuant to the provisions of c e s k 23 Sections 66-6-2 and 66-6-4 NMSA 1978;
(b) one dollar ($1.00) of each of the tire recycling fees collected pursuant to the provisions of Sections 66-6-2 and 66-6-4 NMSA 1978;
and e a n b 24 (c) twenty-five cents ($.25) of each of u [ the tire recycling fees collected pursuant to Sections 66-6-5 .232625.5GLG - 12 - and 66-6-8 NMSA 1978;
and (c) twenty-five cents ($.25) of each of the tire recycling fees collected pursuant to Sections 66-6-5 and 66-6-8 NMSA 1978;
(16) to the local government division of the department of finance and administration, an amount equal to the fees collected pursuant to Section 66-3-424.3 NMSA 1978 for distribution to each county to support animal control spaying and neutering programs in an amount proportionate to the number of residents of that county who have purchased pet care special e t 17 registration plates pursuant to Section 66-3-424.3 NMSA 1978;
SB 2 Page 12 (16) to the local government division of the department of finance and administration, an amount equal to the fees collected pursuant to Section 66-3-424.3 NMSA 1978 for distribution to each county to support animal control spaying and neutering programs in an amount proportionate to the number of residents of that county who have purchased pet care special registration plates pursuant to Section 66-3-424.3 NMSA 1978;
w l n d 18 and = = 19 a l (17) to the Cumbres and Toltec scenic railroad i a e r 20 commission, twenty-five dollars ($25.00) collected pursuant to a t m m 21 the Cumbres and Toltec scenic railroad special registration d r e 22 plate.
and (17) to the Cumbres and Toltec scenic railroad commission, twenty-five dollars ($25.00) collected pursuant to the Cumbres and Toltec scenic railroad special registration plate.
c e s k 23 B.
B.
The balance, exclusive of unidentified e a n b 24 remittances, shall be distributed in accordance with Section u [ 66-6-23.1 NMSA 1978.
The balance, exclusive of unidentified remittances, shall be distributed in accordance with Section 66-6-23.1 NMSA 1978.
.232625.5GLG - 13 - C.
C.
The balance from Section 66-6-23 NMSA 1978 shall be transferred or distributed by the state treasurer on or before the last day of the month next after its receipt, as follows:
The balance from Section 66-6-23 NMSA 1978 SB 2 Page 13 shall be transferred or distributed by the state treasurer on or before the last day of the month next after its receipt, as follows:
(1) [seventy-four and sixty-five] seventy-nine and seventy-two hundredths percent shall be distributed to the state road fund;
(1) seventy-nine and seventy-two hundredths percent shall be distributed to the state road fund;
e t 17 (2) [seven and six-tenths] six and eight- w l n d 18 hundredths percent shall be transferred to each county in the = = 19 a l proportion, determined by the department in accordance with i a e r 20 Subsection B of this section, that the registration fees for a t m m 21 vehicles in that county are to the total registration fees for d r e 22 vehicles in all counties;
(2) six and eight-hundredths percent shall be transferred to each county in the proportion, determined by the department in accordance with Subsection B of this section, that the registration fees for vehicles in that county are to the total registration fees for vehicles in all counties;
c e s k 23 (3) [seven and six-tenths] six and eight- e a n b 24 hundredths percent shall be transferred to the counties, with u [ each county receiving an amount equal to the proportion, .232625.5GLG - 14 - determined by the secretary of transportation in accordance with Subsection D of this section, that the mileage of public roads maintained by the county is to the total mileage of public roads maintained by all counties of the state.
(3) six and eight-hundredths percent shall be transferred to the counties, with each county receiving an amount equal to the proportion, determined by the secretary of transportation in accordance with Subsection D of this section, that the mileage of public roads maintained by the county is to the total mileage of public roads maintained by all counties of the state.
For this purpose, the board of county commissioners of each of the respective counties shall certify by April 1 of each year to the secretary of transportation the total mileage as of April 1 of that year;
For this purpose, the board of county commissioners of each of the respective counties shall certify by April 1 of each year to the secretary of transportation the total SB 2 Page 14 mileage as of April 1 of that year;
By agreement and in cooperation with the department of transportation, the boards of county commissioners of the e t 17 various counties may use or designate any of the funds provided w l n d 18 in this paragraph for a federal aid program;
By agreement and in cooperation with the department of transportation, the boards of county commissioners of the various counties may use or designate any of the funds provided in this paragraph for a federal aid program;
= = 19 a l (4) [four and six-hundredths] three and i a e r 20 twenty-five hundredths percent shall be allocated among the a t m m 21 counties in the proportion, determined by the department in d r e 22 accordance with Subsection B of this section, that the c e s k 23 registration fees for vehicles in that county are to the total e a n b 24 registration fees for vehicles in all counties.
(4) three and twenty-five hundredths percent shall be allocated among the counties in the proportion, determined by the department in accordance with Subsection B of this section, that the registration fees for vehicles in that county are to the total registration fees for vehicles in all counties.
The amount u [ allocated to each county shall be transferred to the .232625.5GLG - 15 - incorporated municipalities within the county in the proportion, determined by the department of finance and administration in accordance with Subsection C of this section, that the sum of net taxable value, as that term is defined in the Property Tax Code, plus the assessed value, as that term is used in the Oil and Gas Ad Valorem Production Tax Act and in the Oil and Gas Production Equipment Ad Valorem Tax Act, determined for the incorporated municipality is to the sum of net taxable value plus assessed value determined for all incorporated municipalities within the county.
The amount allocated to each county shall be transferred to the incorporated municipalities within the county in the proportion, determined by the department of finance and administration in accordance with Subsection C of this section, that the sum of net taxable value, as that term is defined in the Property Tax Code, plus the assessed value, as that term is used in the Oil and Gas Ad Valorem Production Tax Act and in the Oil and Gas Production Equipment Ad Valorem Tax Act, determined for the incorporated municipality is to the sum of net taxable value plus assessed value determined for all incorporated municipalities within the county.
Amounts transferred to incorporated municipalities pursuant to the provisions of this paragraph shall be used for the construction, maintenance and repair of streets within the municipality and for payment of paving assessments against property owned by federal, county or municipal governments.
Amounts transferred to incorporated municipalities SB 2 Page 15 pursuant to the provisions of this paragraph shall be used for the construction, maintenance and repair of streets within the municipality and for payment of paving assessments against property owned by federal, county or municipal governments.
In a county in which there are no incorporated municipalities, the e t 17 amount allocated pursuant to this paragraph shall be w l n d 18 transferred to the county government road fund and used in = = 19 a l accordance with the provisions of Paragraph (3) of this i a e r 20 subsection;
In a county in which there are no incorporated municipalities, the amount allocated pursuant to this paragraph shall be transferred to the county government road fund and used in accordance with the provisions of Paragraph (3) of this subsection;
and a t m m 21 (5) [six and nine-hundredths] four and eighty- d r e 22 seven hundredths percent shall be allocated among the counties c e s k 23 in the proportion, determined by the department of finance and e a n b 24 administration in accordance with Subsection C of this section, u [ that the registration fees for vehicles in that county are to .232625.5GLG - 16 - the total registration fees for vehicles in all counties.
and (5) four and eighty-seven hundredths percent shall be allocated among the counties in the proportion, determined by the department of finance and administration in accordance with Subsection C of this section, that the registration fees for vehicles in that county are to the total registration fees for vehicles in all counties.
For the purposes of this paragraph, the term "computed taxes due" for a jurisdiction means the sum of the net taxable value, as that term is defined in the Property Tax Code, plus the assessed value, as that term is used in the Oil and Gas Ad Valorem Production Tax Act and in the Oil and Gas Production Equipment Ad Valorem Tax Act, for that jurisdiction multiplied by an average of the rates for residential and nonresidential property imposed for that e t 17 jurisdiction pursuant to Subsection B of Section 7-37-7 NMSA w l n d 18 1978.
For the purposes of this paragraph, the term "computed taxes due" for a jurisdiction means the sum of the net taxable value, as that term is SB 2 Page 16 defined in the Property Tax Code, plus the assessed value, as that term is used in the Oil and Gas Ad Valorem Production Tax Act and in the Oil and Gas Production Equipment Ad Valorem Tax Act, for that jurisdiction multiplied by an average of the rates for residential and nonresidential property imposed for that jurisdiction pursuant to Subsection B of Section 7-37-7 NMSA 1978.
= = 19 a l B.
B.
To carry out the provisions of this section, i a e r 20 during the month of June of each year:
To carry out the provisions of this section, during the month of June of each year:
a t m m 21 (1) the department shall determine and certify d r e 22 to the department of finance and administration the proportions c e s k 23 that the department is required to determine pursuant to e a n b 24 Subsection A of this section using information for the u [ preceding calendar year on the number of vehicles registered in .232625.5GLG - 17 - each county based on the address of the owner or place where the vehicle is principally located, the registration fees for the vehicles registered in each county, the total number of vehicles registered in the state and the total registration fees for all vehicles registered in the state;
(1) the department shall determine and certify to the department of finance and administration the proportions that the department is required to determine pursuant to Subsection A of this section using information for the preceding calendar year on the number of vehicles registered in each county based on the address of the owner or place where the vehicle is principally located, the registration fees for the vehicles registered in each county, the total number of vehicles registered in the state and the total registration fees for all vehicles registered in the state;
and (2) the department of finance and administration shall determine the proportions that the department of finance and administration is required to determine pursuant to this subsection based upon the net taxable value, as that term is defined in the Property Tax Code, and the assessed value, as that term is used in the Oil and Gas Ad Valorem Production Tax Act and the Oil and Gas Production Equipment Ad Valorem Tax Act, for the preceding tax year and the tax rates imposed pursuant to Subsection B of Section 7-37-7 NMSA 1978 in the preceding September.
and (2) the department of finance and administration shall determine the proportions that the department of finance and administration is required to determine pursuant to this subsection based upon the net taxable value, as that term is defined in the Property Tax SB 2 Page 17 Code, and the assessed value, as that term is used in the Oil and Gas Ad Valorem Production Tax Act and the Oil and Gas Production Equipment Ad Valorem Tax Act, for the preceding tax year and the tax rates imposed pursuant to Subsection B of Section 7-37-7 NMSA 1978 in the preceding September.
By June 30 of each year, the department of e t 17 finance and administration shall determine the appropriate w l n d 18 percentage of money to be transferred to each county and = = 19 a l municipality for each purpose in accordance with Subsection A i a e r 20 of this section based upon the proportions determined by or a t m m 21 certified to the department of finance and administration.
By June 30 of each year, the department of finance and administration shall determine the appropriate percentage of money to be transferred to each county and municipality for each purpose in accordance with Subsection A of this section based upon the proportions determined by or certified to the department of finance and administration.
The d r e 22 percentages determined shall be used to compute the amounts to c e s k 23 be transferred to the counties and municipalities during the e a n b 24 succeeding fiscal year.
The percentages determined shall be used to compute the amounts to be transferred to the counties and municipalities during the succeeding fiscal year.
u [ D.
D.
The board of county commissioners of each of the .232625.5GLG - 18 - respective counties shall, by April 1 of every year, certify reports to the secretary of transportation of the total mileage of public roads maintained by each county as of April 1 of every year;
The board of county commissioners of each of the respective counties shall, by April 1 of every year, certify reports to the secretary of transportation of the total mileage of public roads maintained by each county as of April 1 of every year;
The mileage verified by the secretary of transportation shall be the official mileage of public roads maintained by each county.
The mileage verified by the secretary of SB 2 Page 18 transportation shall be the official mileage of public roads maintained by each county.
If a county has not made the required mileage certification pursuant to Section 67-3-28.3 NMSA 1978 by April 1 of any year, the secretary of transportation shall estimate e t 17 the mileage maintained by those counties for the purpose of w l n d 18 making distribution to all counties, and the amount calculated = = 19 a l to be distributed each month to those counties not certifying i a e r 20 mileage shall be reduced by one-third each month for that a t m m 21 fiscal year, and that amount not distributed to those counties d r e 22 shall be distributed equally to all counties that have c e s k 23 certified mileages." e a n b 24 SECTION 6.
If a county has not made the required mileage certification pursuant to Section 67-3-28.3 NMSA 1978 by April 1 of any year, the secretary of transportation shall estimate the mileage maintained by those counties for the purpose of making distribution to all counties, and the amount calculated to be distributed each month to those counties not certifying mileage shall be reduced by one-third each month for that fiscal year, and that amount not distributed to those counties shall be distributed equally to all counties that have certified mileages." SECTION 6.
Section 67-3-59.1 NMSA 1978 (being Laws 1989, u [ Chapter 157, Section 1, as amended) is amended to read:
Section 67-3-59.1 NMSA 1978 (being Laws 1989, Chapter 157, Section 1, as amended) is amended to read:
.232625.5GLG - 19 - "67-3-59.1.
"67-3-59.1.
STATE HIGHWAY DEBENTURES--ISSUANCE--LIMITS-- APPROVAL--COUPONS.-- A.
STATE HIGHWAY DEBENTURES--ISSUANCE-- LIMITS--APPROVAL--COUPONS.-- A.
In order to provide funds to finance state highway projects, including state highway projects that are required for the waste isolation pilot project and are eligible for federal reimbursement or payment as authorized by federal legislation, the state transportation commission is authorized, subject to the limitations of this section, to issue bonds from time to time, payable from federal funds not otherwise obligated that are paid into the state road fund and the proceeds of the collection of taxes and fees that are required by law to be paid into the state road fund and not otherwise pledged solely to the payment of outstanding bonds and debentures.
In order to provide funds to finance state highway projects, including state highway projects that are required for the waste isolation pilot project and are eligible for federal reimbursement or payment as authorized by federal legislation, the state transportation commission is authorized, subject to the limitations of this section, to issue bonds from time to time, payable from federal funds not SB 2 Page 19 otherwise obligated that are paid into the state road fund and the proceeds of the collection of taxes and fees that are required by law to be paid into the state road fund and not otherwise pledged solely to the payment of outstanding bonds and debentures.
Except as provided in Subsections C, [and] D and E of this section, the total aggregate outstanding principal e t 17 amount of bonds issued from time to time pursuant to this w l n d 18 section, secured by or payable from federal funds not otherwise = = 19 a l obligated that are paid into the state road fund and the i a e r 20 proceeds from the collection of taxes and fees required by law a t m m 21 to be paid into the state road fund, shall not, without d r e 22 additional authorization of the state legislature, exceed one c e s k 23 hundred fifty million dollars ($150,000,000) at any given time, e a n b 24 subject to the following provisions:
Except as provided in Subsections C, D and E of this section, the total aggregate outstanding principal amount of bonds issued from time to time pursuant to this section, secured by or payable from federal funds not otherwise obligated that are paid into the state road fund and the proceeds from the collection of taxes and fees required by law to be paid into the state road fund, shall not, without additional authorization of the state legislature, exceed one hundred fifty million dollars ($150,000,000) at any given time, subject to the following provisions:
u [ (1) the total aggregate outstanding principal .232625.5GLG - 20 - amount of bonds issued for state highway projects that are required for the waste isolation pilot project and are eligible for federal reimbursement or payment as authorized by federal legislation shall not exceed one hundred million dollars ($100,000,000);
(1) the total aggregate outstanding principal amount of bonds issued for state highway projects that are required for the waste isolation pilot project and are eligible for federal reimbursement or payment as authorized by federal legislation shall not exceed one hundred million dollars ($100,000,000);
and (2) the total aggregate outstanding principal amount of bonds issued for state highway projects other than state highway projects that are required for the waste isolation pilot project and are eligible for federal reimbursement or payment as authorized by federal legislation shall not exceed fifty million dollars ($50,000,000).
and (2) the total aggregate outstanding principal amount of bonds issued for state highway projects other than state highway projects that are required for the SB 2 Page 20 waste isolation pilot project and are eligible for federal reimbursement or payment as authorized by federal legislation shall not exceed fifty million dollars ($50,000,000).
Upon specific authorization and appropriation by the legislature, and subject to the limitations of Subsection D of this section, an additional amount of bonds may be issued pursuant to this section for state highway projects, to be secured by or payable from taxes or fees required by law to be e t 17 paid into the state road fund and federal funds not otherwise w l n d 18 obligated that are paid into the state road fund, and, as = = 19 a l applicable, taxes or fees required by law to be paid into the i a e r 20 highway infrastructure fund, as follows:
Upon specific authorization and appropriation by the legislature, and subject to the limitations of Subsection D of this section, an additional amount of bonds may be issued pursuant to this section for state highway projects, to be secured by or payable from taxes or fees required by law to be paid into the state road fund and federal funds not otherwise obligated that are paid into the state road fund, and, as applicable, taxes or fees required by law to be paid into the highway infrastructure fund, as follows:
a t m m 21 (1) an aggregate outstanding principal amount d r e 22 of bonds, not to exceed six hundred twenty-four million dollars c e s k 23 ($624,000,000), for major highway infrastructure projects for e a n b 24 which the department has, prior to January 1, 1998, submitted u [ or initiated the process of submitting a plan to the federal .232625.5GLG - 21 - highway administration for innovative financing pursuant to 23 USCA Sections 122 and 307;
(1) an aggregate outstanding principal amount of bonds, not to exceed six hundred twenty-four million dollars ($624,000,000), for major highway infrastructure projects for which the department has, prior to January 1, 1998, submitted or initiated the process of submitting a plan to the federal highway administration for innovative financing pursuant to 23 USCA Sections 122 and 307;
(2) an aggregate outstanding principal amount of bonds, not to exceed one hundred million dollars ($100,000,000), for state highway projects that are required for the waste isolation pilot project and are eligible for federal reimbursement;
(2) an aggregate outstanding principal amount of bonds, not to exceed one hundred million dollars ($100,000,000), for state highway projects that are required for the waste isolation pilot project and are eligible for SB 2 Page 21 federal reimbursement;
e t 17 (2) six hundred million dollars ($600,000,000) w l n d 18 from July 1, 1999 through June 30, 2000;
(2) six hundred million dollars ($600,000,000) from July 1, 1999 through June 30, 2000;
= = 19 a l (3) nine hundred million dollars i a e r 20 ($900,000,000) from July 1, 2000 through June 30, 2001;
(3) nine hundred million dollars ($900,000,000) from July 1, 2000 through June 30, 2001;
and a t m m 21 (4) one billion one hundred twenty-four d r e 22 million dollars ($1,124,000,000) after June 30, 2001.
and (4) one billion one hundred twenty-four million dollars ($1,124,000,000) after June 30, 2001.
c e s k 23 E.
E.
An additional one billion five hundred million e a n b 24 dollars ($1,500,000,000) of total bond proceeds may be issued u [ pursuant to this section for state highway projects identified .232625.5GLG - 22 - in the statewide transportation improvement program to be secured by or payable from federal funds or from taxes or fees not otherwise obligated and required by law to be paid into the state road fund;
An additional one billion five hundred million dollars ($1,500,000,000) of total bond proceeds may be issued pursuant to this section for state highway projects identified in the statewide transportation improvement program to be secured by or payable from federal funds or from taxes or fees not otherwise obligated and required by law to be paid into the state road fund;
provided that the issuance of the bonds shall not cause the aggregate outstanding principal amount of bonds issued by the state transportation commission to exceed one billion one hundred twenty-four million dollars ($1,124,000,000).
provided that the issuance of the bonds shall not cause the aggregate outstanding principal amount of bonds issued by the state SB 2 Page 22 transportation commission to exceed one billion one hundred twenty-four million dollars ($1,124,000,000).
provided that the e t 17 commission may issue bonds in an amount up to two hundred w l n d 18 twenty million dollars ($220,000,000) for fiscal year 2026 to = = 19 a l secure associated federal grant funding for projects;
provided that the commission may issue bonds in an amount up to two hundred twenty million dollars ($220,000,000) for fiscal year 2026 to secure associated federal grant funding for projects;
and i a e r 20 provided further that bonds issued by the commission shall not a t m m 21 exceed a total of one hundred thirty million dollars d r e 22 ($130,000,000) during the December 2026 bond sale.
and provided further that bonds issued by the commission shall not exceed a total of one hundred thirty million dollars ($130,000,000) during the December 2026 bond sale.
c e s k 23 [E.] F.
F.
The state transportation commission may e a n b 24 issue bonds to refund other bonds issued pursuant to this u [ section by exchange or current or advance refunding.
Beginning on January 1, 2027, for bonds issued pursuant to Subsection E of this section, the department shall provide the legislature with a list of the proposed bond sales for that calendar year no later than the first day of the regular session for that year.
.232625.5GLG - 23 - [F.] G.
The list shall include:
(1) for each project, the cost, readiness and funding secured to date;
and SB 2 Page 23 (2) up to three contingency projects identified pursuant to Subsection E of this section that could replace a proposed project in the event of an unforeseen circumstance that would delay the bond sale on that project.
The department shall report to the legislature, or the legislative finance committee if the legislature is not in session, within two weeks of determining that a contingency project will replace the proposed project.
G.
The state transportation commission may issue bonds to refund other bonds issued pursuant to this section by exchange or current or advance refunding.
H.
[G.] H.
I.
The bonds shall be executed with the manual or facsimile signature of the [chairman] chair of the state transportation commission, countersigned by the state treasurer and attested to by the secretary of the state transportation commission, with the seal of the state transportation commission imprinted or otherwise affixed to the bonds.
The bonds shall be executed with the manual or facsimile signature of the chair of the state transportation commission, countersigned by the state treasurer and attested to by the secretary of the state transportation commission, with the seal of the state transportation commission SB 2 Page 24 imprinted or otherwise affixed to the bonds.
[H.] I.
J.
Proceeds of the bonds may be used to pay expenses incurred in the preparation, issuance and sale of the e t 17 bonds and, together with the earnings on the proceeds of the w l n d 18 bonds, may be used to pay rebate, penalty, interest and other = = 19 a l obligations relating to the bonds and the proceeds of the bonds i a e r 20 under the Internal Revenue Code of 1986, as amended.
Proceeds of the bonds may be used to pay expenses incurred in the preparation, issuance and sale of the bonds and, together with the earnings on the proceeds of the bonds, may be used to pay rebate, penalty, interest and other obligations relating to the bonds and the proceeds of the bonds under the Internal Revenue Code of 1986, as amended.
a t m m 21 [I.] J.
K.
The bonds may be sold at a public or d r e 22 negotiated sale at, above or below par or through the New c e s k 23 Mexico finance authority.
The bonds may be sold at a public or negotiated sale at, above or below par or through the New Mexico finance authority.
A negotiated sale shall be made with e a n b 24 one or more investment bankers whose services are obtained u [ through a competitive proposal process.
A negotiated sale shall be made with one or more investment bankers whose services are obtained through a competitive proposal process.
For any sale, the .232625.5GLG - 24 - state transportation commission or the New Mexico finance authority shall also procure the services of any financial advisor or bond counsel through a competitive proposal process.
For any sale, the state transportation commission or the New Mexico finance authority shall also procure the services of any financial advisor or bond counsel through a competitive proposal process.
[J.] K.
L.
This section is full authority for the issuance and sale of the bonds, and the bonds shall not be invalid for any irregularity or defect in the proceedings for their issuance and sale and shall be incontestable in the hands of bona fide purchasers or holders of the bond for value.
This section is full authority for the issuance and sale of the bonds, and the bonds shall not be invalid for SB 2 Page 25 any irregularity or defect in the proceedings for their issuance and sale and shall be incontestable in the hands of bona fide purchasers or holders of the bond for value.
[K.] L.
M.
The bonds shall be legal investments for a person or board charged with the investment of public funds and e t 17 may be accepted as security for a deposit of public money and, w l n d 18 with the interest thereon, are exempt from taxation by the = = 19 a l state and a political subdivision or agency of the state.
The bonds shall be legal investments for a person or board charged with the investment of public funds and may be accepted as security for a deposit of public money and, with the interest thereon, are exempt from taxation by the state and a political subdivision or agency of the state.
i a e r 20 [L.] M.
N.
Any law authorizing the imposition or a t m m 21 distribution of taxes or fees paid into the state road fund or d r e 22 the highway infrastructure fund or that affects those taxes and c e s k 23 fees shall not be amended or repealed or otherwise directly or e a n b 24 indirectly modified so as to impair outstanding bonds secured u [ by a pledge of revenues from those taxes and fees paid into the .232625.5GLG - 25 - state road fund or the highway infrastructure fund, unless the bonds have been discharged in full or provisions have been made for a full discharge.
Any law authorizing the imposition or distribution of taxes or fees paid into the state road fund or the highway infrastructure fund or that affects those taxes and fees shall not be amended or repealed or otherwise directly or indirectly modified so as to impair outstanding bonds secured by a pledge of revenues from those taxes and fees paid into the state road fund or the highway infrastructure fund, unless the bonds have been discharged in full or provisions have been made for a full discharge.
[M.] N.
O.
In contracting for state highway projects to be paid in whole or in part with proceeds of bonds authorized by this section, the department shall require that any sand, gravel, caliche or similar material needed for the project shall, if practicable, be mined from state lands.
In contracting for state highway projects to be paid in whole or in part with proceeds of bonds authorized by SB 2 Page 26 this section, the department shall require that any sand, gravel, caliche or similar material needed for the project shall, if practicable, be mined from state lands.
Each contract shall provide that the contractor notify the commissioner of public lands of the need for the material and that, through lease or purchase, the material shall be mined e t 17 from state lands if:
Each contract shall provide that the contractor notify the commissioner of public lands of the need for the material and that, through lease or purchase, the material shall be mined from state lands if:
w l n d 18 (1) the material needed is available from = = 19 a l state lands in the vicinity of the project;
(1) the material needed is available from state lands in the vicinity of the project;
i a e r 20 (2) the commissioner determines that the lease a t m m 21 or purchase is in the best interest of the state land trust d r e 22 beneficiaries;
(2) the commissioner determines that the lease or purchase is in the best interest of the state land trust beneficiaries;
and c e s k 23 (3) the cost to the contractor for the e a n b 24 material, including the costs of transportation, is competitive u [ with other available material from non-state lands.
and (3) the cost to the contractor for the material, including the costs of transportation, is competitive with other available material from non-state lands.
.232625.5GLG - 26 - [N.] O.
Bonds issued pursuant to this section shall be paid solely from federal funds not otherwise obligated and taxes and fees deposited into the state road fund and, as applicable, the highway infrastructure fund, and shall not constitute a general obligation of the state.
Bonds issued pursuant to this section shall be paid solely from federal funds not otherwise obligated and taxes and fees deposited into the state road fund and, as applicable, the highway infrastructure fund, and shall not constitute a general obligation of the state.
Q.
(1) justification for the selection and priority ranking of each project, including:
SB 2 Page 27 (1) justification for the selection and priority ranking of each project, including:
e t 17 (c) an assessment of economic w l n d 18 development impacts;
(c) an assessment of economic development impacts;
and = = 19 a l (d) other information deemed significant i a e r 20 by the department;
and (d) other information deemed significant by the department;
a t m m 21 (2) the expected life of the proposed project;
(2) the expected life of the proposed project;
d r e 22 (3) the amount of revenue required to pay the c e s k 23 principal and interest of outstanding and proposed bonds based e a n b 24 on a five- and twenty-year forecast of the state road fund;
(3) the amount of revenue required to pay the principal and interest of outstanding and proposed bonds based on a five- and twenty-year forecast of the state road fund;
and u [ (4) the effect of the bond program on the .232625.5GLG - 27 - department's construction and maintenance program." SECTION 7.
and (4) the effect of the bond program on the department's construction and maintenance program." SECTION 7.
- 28 - 9 11 13 15 e t 17 w l n d 18 = = 19 a l i a e r 20 a t m m 21 d r e 22 c e s k 23 e a n b 24 u [ .232625.5GLG
SB 2 Page 28 25
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Action History

  1. Signed

  2. passed House

  3. DO PASS committee report adopted

  4. Sent to House Transportation, Public Works & Capital Improvements Committee

  5. passed Senate

  6. DO PASS, as amended, committee report adopted

  7. germane

  8. Sent to Senate Committees' Committee & Senate Finance Committee

Sponsors

Sponsorship breakdown

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5 sponsors · 0 co-sponsors · 107 not signed on

Sponsors (5)

Co-sponsors (0)

None.

Not signed on (107)

107 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance transportation
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Frequently asked questions

Who sponsors SB 2?
SB 2 is sponsored by Benny Shendo, Jr. (Democrat), De La Cruz, Art, Pete Campos (Democrat), George K. Muñoz (Democrat), and Roberto "Bobby" J. Gonzales (Democrat).
What is the current status of SB 2?
This bill has been enacted into law. Introduced January 20, 2026. Enacted.
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