0001| SENATE JOINT MEMORIAL 46 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| CARLOS R. CISNEROS | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| A JOINT MEMORIAL | 0011| DIRECTING THE LEGISLATIVE REVENUE STABILIZATION AND TAX POLICY | 0012| COMMITTEE TO UNDERTAKE A COMPREHENSIVE STUDY OF THE IMPACT ON | 0013| STATE AND LOCAL REVENUES OF THE CURRENT STATUTORY AUTHORIZATION | 0014| FOR COUNTIES AND MUNICIPALITIES TO ISSUE INDUSTRIAL REVENUE | 0015| BONDS. | 0016| | 0017| WHEREAS, authority for the issuance of industrial revenue | 0018| bonds by municipalities and counties has existed since 1955; | 0019| and | 0020| WHEREAS, no specific authority or duty has been granted or | 0021| designated for an agency of state government to gather data on, | 0022| monitor or otherwise review the consequences of the issuance of | 0023| industrial revenue bonds during the last forty years; and | 0024| WHEREAS, there are many indications that the issuance of | 0025| industrial revenue bonds has varying effects upon the state and | 0001| local revenue production, tax equity, economic competiveness | 0002| among business and the need and demand for governmental | 0003| services; and | 0004| WHEREAS, to continue the existing uncontrolled issuance of | 0005| industrial revenue bonds without knowing whether the purpose of | 0006| bonding authority is being fulfilled and with no data on both | 0007| positive and negative effects of the issuance of those bonds is | 0008| not responsible and is a disservice to the citizens of the | 0009| state; | 0010| NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE | 0011| STATE OF NEW MEXICO that the legislative revenue stabilization | 0012| and tax policy committee be requested to undertake an in-depth | 0013| and definitive study of economic, environmental, tax and other | 0014| impacts the issuance of industrial revenue bonds has had and | 0015| will have upon the citizens of the state; and | 0016| BE IT FURTHER RESOLVED that the legislative revenue | 0017| stabilization and tax policy committee be requested to prepare | 0018| and publish a report after completing its study, furnish that | 0019| report to the New Mexico legislative council no later than | 0020| December 15, 1997 and include in the report any recommendations | 0021| for legislation to be considered by the second session of the | 0022| forty-third legislature; and | 0023| BE IT FURTHER RESOLVED that a copy of this memorial be | 0024| transmitted to the New Mexico legislative council, the governor | 0025| and the secretary of taxation and revenue. | 0001|  | 0002| | 0003| FORTY-THIRD LEGISLATURE | 0004| FIRST SESSION, 1997 | 0005| | 0006| | 0007| March 14, 1997 | 0008| | 0009| Mr. President: | 0010| | 0011| Your WAYS AND MEANS COMMITTEE, to whom has been | 0012| referred | 0013| | 0014| SENATE JOINT MEMORIAL 46 | 0015| | 0016| has had it under consideration and reports same with | 0017| recommendation that it DO PASS. | 0018| | 0019| Respectfully submitted, | 0020| | 0021| | 0022| | 0023| | 0024| __________________________________ | 0025| Carlos R. Cisneros, Chairman | 0001| | 0002| | 0003| | 0004| Adopted_______________________ Not | 0005| Adopted_______________________ | 0006| (Chief Clerk) (Chief Clerk) | 0007| | 0008| | 0009| | 0010| Date ________________________ | 0011| | 0012| | 0013| The roll call vote was 5 For 0 Against | 0014| Yes: 5 | 0015| No: 0 | 0016| Excused: Duran, Jennings, McSorley, Wilson | 0017| Absent: None | 0018| | 0019| | 0020| SJ046WM1 | 0021| | 0022| | 0023| FORTY-THIRD LEGISLATURE | 0024| FIRST SESSION, 1997 | 0025| | 0001| | 0002| March 14, 1997 | 0003| | 0004| Mr. President: | 0005| | 0006| Your WAYS AND MEANS COMMITTEE, to whom has been | 0007| referred | 0008| | 0009| SENATE JOINT MEMORIAL 46 | 0010| | 0011| has had it under consideration and reports same with | 0012| recommendation that it DO PASS. | 0013| | 0014| Respectfully submitted, | 0015| | 0016| | 0017| | 0018| | 0019| __________________________________ | 0020| Carlos R. Cisneros, Chairman | 0021| | 0022| | 0023| | 0024| Adopted_______________________ Not | 0025| Adopted_______________________ | 0001| (Chief Clerk) (Chief Clerk) | 0002| | 0003| | 0004| | 0005| Date ________________________ | 0006| | 0007| | 0008| The roll call vote was 5 For 0 Against | 0009| Yes: 5 | 0010| No: 0 | 0011| Excused: Duran, Jennings, McSorley, Wilson | 0012| Absent: None | 0013| | 0014| | 0015| SJ046WM1 | 0016| FORTY-THIRD LEGISLATURE | 0017| FIRST SESSION, 1997 | 0018| | 0019| | 0020| | 0021| October 23, 1997 | 0022| | 0023| | 0024| SENATE FLOOR AMENDMENT number to SENATE JOINT MEMORIAL | 0025| 46 | 0001| | 0002| AMENDMENT sponsored by SENATOR RAWSON | 0003| | 0004| 1. On page 2, line 13, after the word "bonds" delete the | 0005| word "has" and insert in lieu thereof "have". | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| | 0012| Senator Leonard Lee Rawson | 0013| | 0014| | 0015| | 0016| Adopted Not Adopted | 0017| | 0018| (Chief Clerk) (Chief Clerk) | 0019| | 0020| | 0021| Date | 0022| | 0023| | 0024| SJ046FS1 State of New Mexico | 0025| House of Representatives | 0001| | 0002| FORTY-THIRD LEGISLATURE | 0003| FIRST SESSION, 1997 | 0004| | 0005| | 0006| March 21, 1997 | 0007| | 0008| | 0009| Mr. Speaker: | 0010| | 0011| Your TAXATION AND REVENUE COMMITTEE, to whom has | 0012| been referred | 0013| | 0014| SENATE JOINT MEMORIAL 46, as amended | 0015| | 0016| has had it under consideration and reports same with | 0017| recommendation that it DO PASS. | 0018| | 0019| Respectfully submitted, | 0020| | 0021| | 0022| | 0023| | 0024| Jerry W. Sandel, Chairman | 0025| | 0001| | 0002| Adopted Not Adopted | 0003| | 0004| (Chief Clerk) (Chief Clerk) | 0005| | 0006| Date | 0007| | 0008| The roll call vote was 9 For 0 Against | 0009| Yes: 9 | 0010| Excused: Gonzales, Lovejoy, Lujan, Stell | 0011| Absent: None | 0012| | 0013| | 0014| G:\BILLTEXT\BILLW_97\SJ046 |