|
|
- Dealer Services has MOVED
Effective Aug 12, 2009
New Phone # 505-383-2316 Dealer Fax #505-383-2372
New Address is Compass Bank Building,
505 Marquette, NW
15th Floor,
Albuquerque, NM 87102
- View our Members Inventory
Click HERE to view Members List
Click on their web link to be directly linked to their website
See the info under Web advertising to have your dealership website added to this site.
Promotional prices in effect until 7/1/09
|
- Message from our Lobbyist
Debbie Maestas-Traynor
Pending Signature by Gov No later than 3/24/10
The special session concluded Thursday 3/4/10 with legislation that will raise apprx $230 million through consumer tax increases and a personal income tax measure. The House approval of a 75-cent hike to the state's cigarette tax was the last piece of legislation for a state budget package sent to Gov Bill Richardson. The House agreed with the Senate's decision to re-direct some of the money to state pre-kindergarten programs and early childhood programs. The average cost of a pack of cigarettes will increase from $4.60 to $5.35; the cigarette tax is forecasted to generate $33 million. Other legislation in the package included an increase in the states gross receipts tax by one-eighth cent (12.5 cents on every $100), this will bring in $60 million, and the food tax will be re-imposed. The food tax will vary slightly from community to community based on city and county, proposed revenue is $68 million. The personal income tax measure proposed that state and local income and sales taxes cannot be included as a deduction on state income tax returns. The average cost to tax filer is $193 and will generate $66 million.
Legislators passed two bills that would provide about $220 million for new capital projects around the state. $46 million, most of it in severance tax bonds is for capital improvements which included building, repairing and renovating public facilities, fixing dams, and putting infrastructure in the border communities. The expansion of HP's customer technical support enter in Rio Rancho is slotted to receive $6 million and $2.5 million for the Fidelity Investments facility in Mesa del Sol. Also included is the reauthorization of $33 million in previously approved funding for projects. Voters will decide in November's geneal election on general obligations bonds to fund $275 million in capital projects. The projects include senior centers. libraries, Pre-kindergarten programs and building improvements on college and univeristy campuses.
The motor vehicle excise tax was not a topic of discussion during the special session, however I anticipate a tax hike will be proposed in next years legislative session. Forecasted revenue from the excise tax for FY12 is approx. $37.7 million.
|
