FIFTY-FOURTH LEGISLATUREHB 255/a
SECOND SESSION, 2020
February 18, 2020
Mr. President:
Your FINANCE COMMITTEE, to whom has been referred
HOUSE BILL 255, as amended
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. Strike House Commerce and Economic Development Committee Amendment 6.
2. On page 8, strike Section 2 in its entirety and insert in lieu thereof the following:
"SECTION 2. A new section of the Tax Administration Act is enacted to read:
"[NEW MATERIAL] DISTRIBUTION--GROSS RECEIPTS TAX--TECHNOLOGY READINESS GROSS RECEIPTS TAX CREDIT FUND.--Beginning July 1, 2020 and prior to July 1, 2023, a distribution pursuant to Section 7-1-6.1 NMSA 1978 shall be made to the technology readiness gross receipts tax credit fund in an amount equal to one hundred twenty-five thousand dollars ($125,000) of the net receipts attributable to the gross receipts tax."".
3. On page 8, line 25, strike "Section 1 of this act is" and insert in lieu thereof "Sections 1 and 2 of this act are".
___________________________________
John Arthur Smith, Chairman
Adopted_______________________ Not Adopted_______________________
(Chief Clerk) (Chief Clerk)
Date ________________________
The roll call vote was 11 For 0 Against
Yes: 11
No: None
Excused: None
Recused Rue
Absent: None
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