New Mexico prices and inflation

The price is EIA’s six-state Gulf Coast regular-gasoline series, including New Mexico, rather than a New Mexico statewide measurement. Gasoline taxes and the gasoline component of transportation-fuel standards concern parts of fuel costs and supply. Special fuels, aviation fuel and electricity generation are distinct. A policy connection does not establish a regional pump-price effect. This connection does not establish causation. Actions after the measurement period cannot explain the earlier observed value.

Retained New Mexico evidence context: Gulf Coast regular gasoline price. This record’s connection to the topic does not establish an effect on the measured result.

SECTION 1. Section 7-13-3 NMSA 1978 (being Laws 1971, Chapter 207, Section 3, as amended) is amended to read: "7-13-3. IMPOSITION AND RATE OF TAX--DENOMINATION AS "GASOLINE TAX".-- A. For the privilege of receiving gasoline in this state, there is imposed an excise tax at a rate provided in Subsection B of this section on each gallon of gasoline received in New Mexico. B. The tax imposed by Subsection A of this section shall be twenty-three cents ($.23) per gallon received in New Mexico. C. The tax imposed by this section may be called the "gasoline tax"."

Census household money income is measured before taxes and includes wages and specified cash benefits. Minimum-wage provisions concern earnings; tax credits and in-kind benefits are not themselves increases in this statistic. This connection does not establish causation. Actions after the measurement period cannot explain the earlier observed value.

Retained New Mexico evidence context: Median household income. This record’s connection to the topic does not establish an effect on the measured result.

SECTION 2. Section 50-4-22 NMSA 1978 (being Laws 1955, Chapter 200, Section 3, as amended) is amended to read: "50-4-22. MINIMUM WAGES.-- A. On and after January 1, 2026, an employer shall pay to an employee a minimum wage rate of seventeen dollars ($17.00) an hour adjusted annually pursuant to the provisions of Subsection C of this section. B. An employee shall not be required to work more than forty hours in any week of seven days, unless the employee is paid one and one-half times the employee's regular hourly rate of pay for all hours worked in excess of forty hours. For an employee who is paid a fixed salary for fluctuating hours and who is employed by an employer a majority of whose business in New Mexico consists of providing investigative services to the federal government, the hourly rate may be calculated in accordance with the provisions of the federal Fair Labor Standards Act of 1938 and the regulations pursuant to that act; provided that in no case shall the hourly rate be less than the federal minimum wage. C. On January 1, 2027 and on January 1 of each successive year, the minimum wage rate shall be adjusted by multiplying the minimum wage as of January 1, 2026 by a fraction, the numerator of which is the consumer price index ending in September of the previous year and the denominator of which is the consumer price index ending September 2025; provided that the minimum wage rate shall not be adjusted downward as a result of a decrease in the consumer price index. By November 1, 2026 and by November 1 of each successive year, the workforce solutions department shall post on its website and otherwise notify employers of the minimum wage for the next year."

The price is EIA’s six-state Gulf Coast regular-gasoline series, including New Mexico, rather than a New Mexico statewide measurement. Gasoline taxes and the gasoline component of transportation-fuel standards concern parts of fuel costs and supply. Special fuels, aviation fuel and electricity generation are distinct. A policy connection does not establish a regional pump-price effect. This connection does not establish causation. Actions after the measurement period cannot explain the earlier observed value.

Retained New Mexico evidence context: Gulf Coast regular gasoline price. This record’s connection to the topic does not establish an effect on the measured result.

SECTION 4. A new section of the Environmental Improvement Act is enacted to read: "CLEAN TRANSPORTATION FUEL STANDARD PROGRAM--RULES.-- A. The board shall promulgate rules to implement a clean transportation fuel standard program no later than July 1, 2026. B. Prior to the board promulgating rules pursuant to this section, the secretary shall convene an advisory committee composed of stakeholders from in-state and out-of- state producers of transportation fuels, transportation fuel distributors, local governments, utilities, tribal governments, environmental protection groups, environmental justice groups and other individuals or entities with relevant expertise to provide input and periodically review program rules. C. The clean transportation fuel standard program rules shall: (1) establish a statewide technology-neutral clean transportation fuel standard based on a schedule for annually decreasing the carbon intensity of transportation fuels used in the state; (2) apply the clean transportation fuel standard to account for the fuel lifecycle in order to reduce the carbon intensity of transportation fuels used in the state by at least twenty percent below 2018 carbon intensity levels by 2030 and at least thirty percent below 2018 carbon intensity levels by 2040; (3) establish technology-neutral mechanisms for generating, obtaining, trading, selling and retiring credits among transportation fuel producers, fuel distributors and other individuals or entities in the transportation fuel market, including additional credit opportunities from activities and projects that support the reduction or removal of greenhouse gas emissions associated with transportation in the state; (4) establish mechanisms, including cost- containment measures and credit holding limits, to allow credits to be banked for future compliance periods to stabilize and incentivize investment in the transportation fuel credit market, verify the validity of compliance obligations, maximize savings and limit consumer costs, ensure program compliance, trade credits and allow for market participation by persons who register in the market to facilitate credit generation; (5) require a utility that elects to participate in the program to invest all revenues from the sale of credits, not including administrative program costs, into distribution, grid modernization, infrastructure and other projects that support transportation decarbonization, with at least fifty percent of such revenues supporting low- income and underserved communities and with investor-owned utilities receiving regulatory treatment consistent with Section 62-8-12 NMSA 1978; (6) consider similar programs in other jurisdictions, allow for coordination with other jurisdictions to promote regional reductions or removal of greenhouse gas emissions and allow market participants to generate credits under any overlapping current and future federal transportation fuel regulations; (7) not discriminate against fuels solely on the basis of having originated in another state or jurisdiction; (8) establish a periodic review process that includes input from the advisory committee convened pursuant to Subsection B of this section to provide input on program rules and performance and determine potential adjustments if deemed necessary after review, including the superseding of the state program by federal legislation; (9) allow for a deferral of the program based on emergency or forecasted conditions; and (10) establish fees for the cost of the department's administration and enforcement of the program; provided that any fees are deposited in the state air quality permit fund. D. As used in this section: (1) "low-income" means annual household adjusted gross income, as defined in the Income Tax Act, of equal to or less than two hundred percent of the federal poverty level; and (2) "underserved community" means an area in this state, including a county, municipality or neighborhood, or subset of such area where the median income of the area is low-income."