0001| SENATE BILL 1251
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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| ROMAN M. MAES III
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0008|
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0009|
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0010| AN ACT
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0011| RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE.
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0012|
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0013| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0014|
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0015|
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0016| FORTY-THIRD LEGISLATURE
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0017| FIRST SESSION, 1997
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0018|
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0019|
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0020| March 10, 1997
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0021|
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0022| Mr. President:
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0023|
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0024| Your CORPORATIONS & TRANSPORTATION COMMITTEE, to
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0025| whom has been referred
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0001|
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0002| SENATE BILL 1251
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0003|
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0004| has had it under consideration and reports same with
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0005| recommendation that it DO NOT PASS, but that
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0006|
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0007| SENATE CORPORATIONS & TRANSPORTATION COMMITTEE SUBSTITUTE FOR
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0008| SENATE BILL 1251
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0009|
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0010| DO PASS, and thence referred to the COMMITTEES' COMMITTEE.
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0011|
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0012| Respectfully submitted,
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0014|
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0015|
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0016| __________________________________
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0017| Roman M. Maes, III, Chairman
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0018|
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0019|
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0020| Adopted_______________________ Not Adopted_______________________
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0021| (Chief Clerk) (Chief Clerk)
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0022|
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0023| Date ________________________
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0024|
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0025|
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0001| The roll call vote was 6 For 0 Against
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0002| Yes: 6
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0003| No: 0
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0004| Excused: Fidel, Kidd, McKibben, Robinson
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0005| Absent: None
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0006|
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0007| S1251CT1 SENATE CORPORATIONS AND TRANSPORTATION COMMITTEE SUBSTITUTE FOR
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0008| SENATE BILL 1251
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0009| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0010|
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0011|
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0012|
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0013|
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0014|
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0015|
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0016|
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0017| AN ACT
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0018| RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE;
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0019| BROADENING THE APPLICATION OF THE GROSS RECEIPTS TAX DEDUCTION
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0020| FOR GOVERNMENTAL AND COMMERCIAL SPACE-RELATED RECEIPTS.
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0021|
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0022| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0023| Section 1. Section 7-9-54.2 NMSA 1978 (being Laws 1995,
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0024| Chapter 183, Section 2) is amended to read:
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0025| "7-9-54.2. GROSS RECEIPTS--DEDUCTION--SPACEPORT
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0001| OPERATION--LAUNCHING AND RECOVERY OF SPACE LAUNCH VEHICLES--
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0002| PAYLOAD SERVICES--SPACE-RELATED BUSINESS.--
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0003| A. Receipts from [operating] launching or
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0004| recovering space launch vehicles or payloads from a spaceport
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0005| in New Mexico may be deducted from gross receipts.
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0006| B. Receipts from preparing a payload for launching
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0007| [or recovering space launch vehicles or payloads from] at a
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0008| spaceport in New Mexico are deductible from gross receipts.
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0009| C. Receipts from [preparing a payload for launching
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at a spaceport] conducting new or expanding an existing
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0011| space-related business in New Mexico are deductible from gross
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0012| receipts.
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0013| D. As used in this section:
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0014| (1) "buss" includes the systems, subsystems and
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0015| mechanical structures required to provide power, altitude
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0016| control, orbit control, thermal control, telemetry
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0017| transmission, telemetry reception, data storage and other
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0018| similar functions for the support of the payload;
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0019| (2) "payload" includes systems, subsystems and
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0020| mechanical structures required to perform or conduct research
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0021| and development on or to conduct operations of space functions,
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0022| such as reconnaissance, communications, navigation and target
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0023| simulations, but does not include weapons;
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0024| (3) "space" means any location beyond altitudes
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0025| of sixty thousand feet above the earth's mean sea level;
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0001| (4) "spaceport" means [a facility designed and
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operated primarily] an installation and related facilities
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0003| used for the launching [or], landing, recovery [of space
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launch], servicing and monitoring of vehicles [or
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payloads] capable of entering or returning from space; and
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0006| (5) "space-related business" includes the
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0007| planning, engineering, manufacturing, integrating, operating
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0008| and control of government and commercial space launches,
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0009| orbital and recovery vehicles, busses and payloads; and the
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0010| planning, engineering, manufacturing, assembly, testing and
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0011| technical support of assemblies, subassemblies and components
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0012| designed specifically for use in the vehicles, busses and
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0013| payloads.
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0014| E. Receipts from the sale of tangible personal property
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0015| that will become an ingredient or component part of a construction
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0016| project or from performing construction services may not be
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0017| deducted under this section."
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0018|
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0019|
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0020| FORTY-THIRD LEGISLATURE
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0021| FIRST SESSION, 1997
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0022|
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0023|
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0024| March 11, 1997
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0025|
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0001| Mr. President:
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0002|
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0003| Your COMMITTEES' COMMITTEE, to whom has been referred
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0004|
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0005| SENATE CORPORATIONS & TRANSPORATION COMMITTEE SUBSTITUTE FOR
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0006| SENATE BILL 1251
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0007|
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0008| has had it under consideration and reports same WITHOUT
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0009| RECOMMENDATION, and further recommends that it now be referred to
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0010| the WAYS AND MEANS COMMITTEE thence to the FINANCE
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0011| COMMITTEE.
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0012|
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0013| Respectfully submitted,
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0015|
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0016|
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0017| __________________________________
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0018| Manny M. Aragon, Chairman
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0019|
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0020|
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0021| Adopted_______________________ Not Adopted_______________________
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0022| (Chief Clerk) (Chief Clerk)
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0023|
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0024|
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0025| Date ________________________
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0006|
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0007| S1251CC1
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0008|
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