Motor vehicles acquired by the owner after the commencement of the registration year shall be proportionally registered by applying the "New Mexico mileage percentage", which is the figure resulting from the division of in-state miles by total fleet miles used in the original application, for all of the fleet vehicles for the registration period to the regular registration fees due with respect to the added motor vehicles for the remainder of the registration year. The registration fee for additional motor vehicles shall be prorated on a quarterly basis.
History: 1953 Comp., § 64-34-14.4, enacted by Laws 1972, ch. 7, § 36; 1978 Comp., § 65-1-16, recompiled as 1978 Comp., § 66-3-2.4 by Laws 1998 (1st S.S.), ch. 10, § 10; 2015, ch. 9, § 7.
ANNOTATIONSRecompilations. — Laws 1998 (1st S.S.), ch. 10, § 10, recompiled former 65-1-16 NMSA 1978, relating to registration of additional motor vehicles, as 66-3-2.4 NMSA 1978, effective July 1, 1998.
The 2015 amendment, effective July 1, 2015, removed the reference to "vehicles subsequently added to a proportionally registered fleet" from those vehicles added and proportionally registered after the commencement of the registration year; after "registration year", deleted "and subsequently added to a proportionally registered fleet".