NM's Beer Excise Tax Goes To Senate Floor

Law360, New York (February 14, 2014, 7:10 PM EST) -- The New Mexico State Senate finance committee passed a bill to let counties raise alcohol taxes on to the Senate floor on Thursday.

State Sen. Michael Sanchez's bill would allow all counties to raise taxes on alcoholic beverages for four years, with the option to renew by four more. A little less than half of the money would be earmarked for alcohol abuse recovery and prevention programs. The committee voted 8-2 to approve the bill.

Sanchez wasn't immediately available for comment on Friday.

Under the bill,...
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