SB 76 New Mexico Senate · 2026 Regular Session

EXPAND GAS & SPECIAL FUELS TAXES

SB 76 increases New Mexico's gasoline tax from 17 cents to 23 cents per gallon and raises the special fuel excise tax from 21 cents to 26 cents per gallon. This bill directly affects all consumers and businesses purchasing gasoline or special fuels in New Mexico, as it raises the cost per gallon for these products. The key change is the specific tax rate increase for both fuel types, effective July 1, 2026. The bill makes no other policy changes beyond adjusting these excise tax rates.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 22, 2026 Last action Mar 24, 2026

Maddy AI version diff · 1 comparison

What changed between versions

introduced version → FC substitute · 2 edits

MINOR

This bill increases excise taxes on gasoline and special fuel in New Mexico. The gasoline tax rate was raised from 17 cents to 20 cents per gallon, and the special fuel excise tax was raised from 21 cents to 25 cents per gallon. The effective date for both tax increases remains July 1, 2026.

FISCAL

Gasoline excise tax increased from 17 cents to 20 cents per gallon

Special fuel excise tax increased from 21 cents to 25 cents per gallon

Floor votes

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No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 17, 2026

Upper · Passed

DO NOT PASS, replaced with committee substitute

upper

Feb 13, 2026

Upper · Passed

DO PASS committee report adopted

upper

Jan 22, 2026

Introduced

Sent to Senate Committees' Committee & Senate Tax, Business and Transportation Committee & Senate Finance Committee

upper

5 primary · 0 co-sponsors