CORPORATE INCOME TAX TO STATE ROAD FUND

SB 28 redirects all revenue from New Mexico's corporate income tax to the state road fund instead of the general fund. This bill directly affects businesses paying corporate income tax and changes how that revenue is allocated, shifting it from general state funding to road maintenance and construction. The key provision, effective July 1, 2026, mandates that "net receipts attributable to the corporate income tax" be distributed to the state road fund per Section 7-1-6.1 of the Tax Administration Act. This is a concrete policy change in revenue allocation with no tax rate adjustments.