45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO TAXATION; PROVIDING A DEDUCTION FROM GROSS RECEIPTS FOR RECEIPTS FROM PROVIDING CHILD DAYCARE SERVICES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:

"[NEW MATERIAL] DEDUCTION--GROSS RECEIPTS TAX--CHILD DAYCARE SERVICES.--Receipts from providing child daycare services may be deducted from gross receipts that are received from the children, youth and families department pursuant to a contract with that department to provide child daycare services."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of the act is July 1, 2001.

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