New Mexico legislation · 2026 Regular Session
New Mexico HB322: TRANSPORTATION TRUST FUND & PROGRAM FUND
Status: Introduced, February 12, 2026
What the bill says
An act relating to transportation; creating the transportation trust fund and the transportation program fund; making annual distributions to the transportation program fund to provide matching funds for federal grants; distributing a portion of gross receipts tax revenue attributable to the sale of electricity to the transportation trust fund; amending distributions of the motor vehicle excise tax; amending certain sections of laws 2021 through 2024 to require certain unexpended general fund capital outlay appropriations to revert to the transportation trust fund; making an appropriation.
From the introduced text, February 4, 2026:
AN ACT RELATING TO TRANSPORTATION; CREATING THE TRANSPORTATION TRUST FUND AND THE TRANSPORTATION PROGRAM FUND; MAKING ANNUAL DISTRIBUTIONS TO THE TRANSPORTATION PROGRAM FUND TO PROVIDE MATCHING FUNDS FOR FEDERAL GRANTS; DISTRIBUTING A PORTION OF GROSS RECEIPTS TAX REVENUE ATTRIBUTABLE TO THE SALE OF ELECTRICITY TO THE TRANSPORTATION TRUST FUND; AMENDING DISTRIBUTIONS OF THE MOTOR VEHICLE EXCISE TAX; AMENDING CERTAIN SECTIONS OF LAWS 2021 THROUGH 2024 TO REQUIRE CERTAIN UNEXPENDED GENERAL FUND CAPITAL OUTLAY APPROPRIATIONS TO REVERT TO THE TRANSPORTATION TRUST FUND; MAKING AN APPROPRIATION. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. [NEW MATERIAL] TRANSPORTATION TRUST FUND.-- A. The "transportation trust fund" is created as a nonreverting fund in the state treasury. The fund consists of .233706.1 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ distributions, appropriations, gifts, grants and donations. Income from investment of the fund shall be credited to the fund. Money in the fund shall be expended only as provided in this section. B. The state investment officer, subject to the approval of the state investment council and in consultation with the state treasurer, shall invest money in the transportation trust fund in accordance with the prudent investor rule set forth in the Uniform Prudent Investor Act. C. The state investment officer shall submit an annual report on the investments made …