WeVote
Log In

Bill

Bill

SB 28

CORPORATE INCOME TAX TO STATE ROAD FUND

2025 Regular Session Introduced by Pat Woods

SB 28 diverts New Mexico corporate income tax revenue to road infrastructure funding, reducing general fund resources while creating a dedicated transportation revenue stream.

action postponed indefinitely
#highways #roads&bridges #taxation #income
0
WeVote Research Nonpartisan
Bill Summary · SB 28

Legislative bill overview

SB 28 would redirect a portion of New Mexico's corporate income tax revenue to the state road fund instead of the general fund. The bill aims to create a dedicated funding stream for transportation infrastructure by reallocating existing tax revenue rather than imposing new taxes.

Why is this important

Road maintenance and infrastructure are critical public services affecting economic productivity, safety, and quality of life. How states fund these projects—through dedicated taxes, general appropriations, or revenue redirects—significantly impacts both transportation capacity and the availability of funding for other state programs like education and healthcare.

Potential points of contention

  • General fund impacts: Redirecting corporate income tax reduces resources available for education, social services, and other general fund priorities, creating budget tradeoffs
  • Corporate tax burden perception: Some argue this places transportation funding responsibility on businesses rather than users (gas taxes) or general taxpayers, raising fairness questions
  • Sustainability concerns: Using variable corporate income tax revenue (which fluctuates with economic cycles) for essential infrastructure may create unstable, unpredictable funding for long-term road maintenance planning

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.