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New Mexico State Road Bonding and Funding Legislation

Sector: Road • Location: New Mexico, United States

Source: Santa Fe New Mexican

Project
Planned

The New Mexico Department of Transportation is pushing for legislation to secure $1.5 billion in bonding capacity to fund major construction projects on state roads. The legislation also proposes increasing vehicle registration fees, weight distance tax, and establishing an electric vehicle surcharge to create a new revenue stream for the State Road Fund. The bonding would allow the agency to fund

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The project “New Mexico State Road Bonding and Funding Legislation” is an infrastructure initiative in the Road sector, located in New Mexico, United States. Taiyo aggregates data on it from Santa Fe New Mexican.

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planned

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Description

Description

The New Mexico Department of Transportation is pushing for legislation to secure $1.5 billion in bonding capacity to fund major construction projects on state roads. The legislation also proposes increasing vehicle registration fees, weight distance tax, and establishing an electric vehicle surcharge to create a new revenue stream for the State Road Fund. The bonding would allow the agency to fund large-scale projects over the next 12 years, addressing the deteriorating road conditions statewide.

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Source reliability

High

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100%

Source

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