SENATE BILL 393

57th legislature - STATE OF NEW MEXICO - first session, 2025

INTRODUCED BY

Nicholas A. Paul and Pete Campos and Harlan Vincent

 

 

 

 

 

AN ACT

RELATING TO TAXATION; PROVIDING A TEMPORARY GAMING TAX EXEMPTION FOR A GAMING OPERATOR LICENSEE LOCATED IN AN AREA DECLARED AS A DISASTER AREA DUE TO A WILDFIRE; PROVIDING A DELAYED REPEAL; DECLARING AN EMERGENCY.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. A new section of the Gaming Control Act is enacted to read:

     "[NEW MATERIAL] EXEMPTION--LICENSEES OPERATING IN A DECLARED DISASTER AREA.--

          A. Prior to July 1, 2029, a gaming operator licensee operating in an area declared in June 2024 as a disaster area by the governor due to a wildfire shall be exempted from the gaming tax.

          B. The exemption provided by this section shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of the exemption. Claiming the exemption provided by this section is authorization by the taxpayer claiming the exemption for the department to reveal return information necessary to comply with the requirements of Section 7-1-84 NMSA 1978."

     SECTION 2. DELAYED REPEAL.--Section 1 of this act is repealed effective July 1, 2029.

     SECTION 3. EFFECTIVE DATE.--The effective date of the provisions of this act is the first day of the month following the date this act takes effect.

     SECTION 4. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

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