A. For registration of vehicles subject to the registration fees imposed by Section 66-6-2 NMSA 1978, there is imposed an additional annual fee due at the time of initial registration and subsequent registration renewals in the following amounts for each twelve-month period that an electric vehicle with a gross vehicle weight of twenty-six thousand pounds or less is registered:
(1) beginning January 1, 2027 and prior to January 1, 2028, seventy dollars ($70.00);
(2) beginning January 1, 2028 and prior to January 1, 2029, eighty dollars ($80.00); and
(3) on and after January 1, 2029, ninety dollars ($90.00).
B. For registration of vehicles subject to the registration fees imposed by Section 66-6-2 NMSA 1978, there is imposed an additional annual fee due at the time of initial registration and subsequent registration renewals in the following amounts for each twelve-month period that a plug-in hybrid electric vehicle with a gross vehicle weight of twenty-six thousand pounds or less is registered:
(1) beginning January 1, 2027 and prior to January 1, 2028, thirty-five dollars ($35.00);
(2) beginning January 1, 2028 and prior to January 1, 2029, forty dollars ($40.00); and
(3) on and after January 1, 2029, forty-five dollars ($45.00).
C. All fees collected pursuant to this section shall be paid to the state treasurer to the credit of the motor vehicle suspense fund with distribution in accordance with Section 66-6-23 NMSA 1978.
D. The division shall determine whether a motor vehicle is an electric vehicle or a plug-in hybrid electric vehicle based on the vehicle's fuel type or power train classification as identified through the vehicle identification number decoding process or other standardized vehicle attribute data source used by the division.