New Mexico 2024 Regular Session

New Mexico Senate Bill SB183

Introduced
1/23/24  

Caption

Electric & Hybrid Vehicle Registration Fees

Impact

The implementation of these additional fees is expected to generate significant revenue for the state's transportation projects, facilitating improvements and maintenance of roadways. This move aligns with a growing trend of incentivizing the use of electric vehicles while also addressing the revenue shortfalls typically associated with the declining fuel tax as more consumers shift to electric options. However, the bill also reflects the challenges faced in balancing green initiatives with necessary state funding for road maintenance and infrastructure.

Summary

Senate Bill 183, introduced by Senator Roberto 'Bobby' J. Gonzales, establishes additional registration fees for electric and plug-in hybrid electric vehicles. The bill imposes a $120 annual fee for electric vehicles and a $60 fee for plug-in hybrids, both with a gross vehicle weight of 26,000 pounds or less. The funds raised from these additional fees are specifically designated for the state road fund and the transportation project fund, aiming to support infrastructure developments in the state.

Contention

While some stakeholders support the bill as a necessary step toward promoting electric vehicle usage and ensuring adequate funding for infrastructure, there are concerns regarding the added financial burden on users of electric and hybrid vehicles. Opponents argue that this could deter potential buyers from opting for electric vehicles, which are already often higher in upfront costs compared to traditional gas-powered vehicles. This debate highlights the tension between encouraging sustainable transportation practices and ensuring a fair funding mechanism for state road maintenance.

Companion Bills

No companion bills found.

Previously Filed As

NM HB412

Electric Vehicle Tax Credit

NM SB22

Electric Vehicle & Charging Unit Tax Credits

NM SB396

Motorcycle Registration Fee & Fund

NM SB275

Motor Vehicle Registration Fees

NM SB30

State Purchase Of Electric Vehicles

NM SB38

Tax Code Changes

NM SB68

Electronic Motor Vehicle Documents

NM SB69

Electric-assisted Bicycle Definitions

NM SB48

City Or County Mandatory Vehicle Inspections

NM HB139

Eliminating Court Fees

Similar Bills

NM SB37

Regional Transit Grt Distributions

NM SB30

Regional Transit Grt Distributions

NM SB27

Local Governments Hold Harmless Deductions

NM SB26

Hold Harmless Distributions

NM SB26

Excess Oil & Gas Funds To Severance Tax Fund

NM HB119

Adjust Certain School Distributions

NM SB396

Motorcycle Registration Fee & Fund

NM SB131

Public School Funding Changes