0001|                           HOUSE BILL 1315
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                              BEN LUJAN
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO TAXATION; PROVIDING AN EXEMPTION FROM THE GROSS
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0012|     RECEIPTS TAX AND THE COMPENSATING TAX OF RECEIPTS FROM
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0013|     FURNISHING CONSTRUCTION SERVICES TO CERTAIN NONPROFIT
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0014|     ORGANIZATIONS; DECLARING AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  A new Section 7-9-42 NMSA 1978 is enacted to
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0018|     read:
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0019|          "7-9-42.  [<u>NEW MATERIAL</u>]  EXEMPTION--CONSTRUCTION
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0020|     SERVICES PROVIDED TO CERTAIN NONPROFIT ORGANIZATIONS.--Exempted
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0021|     from the gross receipts tax and the compensating tax are the
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0022|     receipts of a contractor for construction services if those
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0023|     services are provided:
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0024|               A.  to a performing arts organization that is
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0025|     organized as a domestic nonprofit corporation and has been
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0001|     granted a federal tax exemption pursuant to Section 501 (c)(3)
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0002|     of the Internal Revenue Code of 1986; and
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0003|               B.  to a construction site of an organization
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0004|     described in Subsection A of this section that is located in a
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0005|     class B county within five miles of a municipality having a
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0006|     population of more than fifty thousand persons according to the
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0007|     most recent decennial census."
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0008|          Section 2.  EMERGENCY.--It is necessary for the public
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0009|     peace, health and safety that this act take effect immediately.
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0010|                              
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