March 7, 2001

SENATE FLOOR AMENDMENT number ___1_ to SENATE BILL 541

Amendment sponsored by Senator Cynthia Nava

1. On page 1, line 13, strike "FIFTEEN" and insert in lieu thereof "TWENTY".

2. On page 2, line 24, strike "fifteen" and insert in lieu thereof "twenty".

3. On page 3, line 2, strike "the prior calendar year" and insert in lieu thereof "the total payroll subject to New Mexico income tax on the first day of the month, twelve months prior to the beginning of the taxable year,".

4. On page 3, line 4, strike "such".

5. On page 3, line 5, after "payroll" insert "subject to New Mexico income tax".

6. On page 3, line 8, before the semicolon, insert "who are not entitled to allocate income earned in New Mexico to another state".

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Cynthia Nava

Adopted ___________________ Not Adopted ________________________

 (Chief Clerk) (Chief Clerk)

Date _________________