0001| SENATE BILL 1271
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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| CARLOS R. CISNEROS
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0006|
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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 WAYS AND MEANS COMMITTEE, to whom has been
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0025| referred
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0001|
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0002| SENATE BILL 1271
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0003|
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0004| has had it under consideration and reports same
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0005| with recommendation that it DO NOT PASS, but that
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0006|
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0007| SENATE WAYS AND MEANS COMMITTEE SUBSTITUTE FOR
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0008| SENATE BILL 1271
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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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0013|
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0014|
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0015|
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0016| __________________________________
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0017| Carlos R. Cisneros, 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 7 For 0 Against
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0002| Yes: 7
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0003| No: 0
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0004| Excused: Duran, Jennings
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0005| Absent: None
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0006|
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0007| S1271WM1 SENATE WAYS AND MEANS COMMITTEE SUBSTITUTE FOR
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0008| SENATE BILL 1271
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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| IMPOSING A REPORTING REQUIREMENT ON CERTAIN PERSONS WHOSE GROSS
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0020| RECEIPTS ARE WHOLLY OR PARTIALLY EXEMPT OR DEDUCTIBLE FROM THE
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0021| GROSS RECEIPTS TAX OR COMPENSATING TAX.
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0022|
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0023| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0024| Section 1. A new section of the Gross Receipts and
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0025| Compensating Tax Act is enacted to read:
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0001| "[NEW MATERIAL] REPORTING REQUIREMENT.--
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0002| A. Any person whose gross receipts are exempt or
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0003| deductible in whole or in part from the gross receipts tax or
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0004| the compensating tax pursuant to the sections of the NMSA 1978
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0005| listed in Subsection B of this section shall report to the
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0006| department on or before September 1 of each year the amount of
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0007| their total gross receipts for the prior fiscal year, the
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0008| amount of those gross receipts that were not taxable and the
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0009| exemptions or deductions pursuant to which the receipts were
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0010| not taxable.
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0011| B. The provisions of this section apply to persons
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0012| whose gross receipts are wholly or partially exempt or
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0013| deductible pursuant to Sections 7-9-15, 7-9-16, 7-9-18, 7-9-20,
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0014| 7-9-29, 7-9-39, Subsection A of Section 7-9-40 and Sections
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0015| 7-9-62 through 7-9-65, 7-9-73.1 and 7-9-83 through 7-9-85 NMSA
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0016| 1978.
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0017| C. Upon the request of any public entity, the
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0018| department may provide aggregated information gathered from the
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0019| reports submitted pursuant to this section, but shall not
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0020| provide taxpayer-specific information unless the information is
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0021| already public information or the taxpayer has waived his right
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0022| to confidentiality pursuant to Section 7-1-8 NMSA 1978."
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0023|
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0024|
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0025| FORTY-THIRD LEGISLATURE
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0001| FIRST SESSION, 1997
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0002|
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0003|
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0004| March 10, 1997
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0005|
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0006| Mr. President:
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0007|
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0008| Your COMMITTEES' COMMITTEE, to whom has been referred
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0009|
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0010| SENATE WAYS AND MEANS COMMITTEE SUBSTITUTE FOR
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0011| SENATE BILL 1271
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0012|
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0013| has had it under consideration and reports same WITHOUT
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0014| RECOMMENDATION.
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0015|
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0016| Respectfully submitted,
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0017|
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0018|
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0019|
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0020| __________________________________
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0021| Manny M. Aragon, Chairman
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0022|
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0023|
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0024| Adopted_______________________ Not Adopted_______________________
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0025| (Chief Clerk) (Chief Clerk)
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0001|
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0002|
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0003| Date ________________________
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0008|
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0009| S1271CC1
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0010|
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