underscored material = new
[bracketed material] = delete
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SENATE BILL 28
57
TH LEGISLATURE
-
STATE
OF
NEW
MEXICO
-
FIRST SESSION
,
2025
INTRODUCED BY
Pat Woods
AN ACT
RELATING TO TAXATION; DISTRIBUTING THE REVENUE FROM THE
CORPORATE INCOME TAX TO THE STATE ROAD FUND.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of the Tax Administration Act is
enacted to read:
"[NEW MATERIAL] DISTRIBUTION--CORPORATE INCOME TAX TO
STATE ROAD FUND.--A distribution pursuant to Section 7-1-6.1
NMSA 1978 shall be made to the state road fund in an amount
equal to the net receipts attributable to the corporate income
tax."
SECTION 2. EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2026.
.229714.1