Gov. Bill Richardson has endorsed a plan by state Rep. Dan Silva, D-Albuquerque, to establish a four-county regional transit district that could levy a 0.125% sales tax to support operations of the Rail Runner Express commuter rail system.
New Mexico law currently requires that residents in each county vote to create the district and levy the sales tax. The proposal by Silva calls for the Legislature to establish a governing body for a district covering Bernalillo, Sandoval, Santa Fe, and Valencia counties, with the tax question put before voters in all four as early as November.
The tax would need approval from a simple majority of voters in the four counties, which is dominated by Bernalillo. The county, which includes Albuquerque, has some 560,000 residents, with 130,000 in Santa Fe County, 90,000 in Sandoval, and 67,000 in Valencia.
The regional tax could generate up to $25 million a year. The system’s operational costs are currently being met with a federal grant due to expire in mid-2009.
The state is financing construction of the Rail Runner with $400 million in bond proceeds, premiums, and earned interest. The system will extend 100 miles from south of Albuquerque to Santa Fe when the final leg is completed later this year.
