Motor vehicle lease and rental contracts in New Mexico are now to include broad form indemnification clauses, according to Truck Renting and Leasing Association(TRALA) press materials.
The bill, which was signed into law April 4 by New Mexico Governor Bill Richardson, includes an amendment introduced by TRALA that exempts motor vehicle lease contracts from the prohibitions in the legislation.
The original bill that was introduced earlier this year was void of the TRALA amendment and would have prohibited all lease contracts from including such clauses.
In a separate issue, TRALA also recently announced its support of the passage of legislation in Connecticut that would exempt maintenance and repair costs on trucks over 26,000 pounds from sales tax.
The bill would exempt both parts and labor on Class 7 and 8 trucks from sales tax. Currently, trucks with a GVWR over 26,000 pounds used in interstate commerce are exempt from sales and use tax in Connecticut, but repairs on those trucks are not exempt.
Surrounding states – Maine, New Jersey, New York and Rhode Island – all offer sales tax exemptions for some or all of the maintenance costs on heavy-duty trucks.