February 9, 2000

Mr. Speaker:

Your TAXATION AND REVENUE COMMITTEE, to whom has been referred

HOUSE BILL 435

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 3, line 25, strike "Forty percent of the" and insert in lieu thereof "The".

2. On page 4, line 3, after "Act" strike the remainder of the line and strike lines 4 through 7 and line 8 through "furnishings".

3. On page 7, line 25, after the period insert "The accumulated amounts reserved to pay debt service on bonds payable from the governmental gross receipts tax issued by the state parks division of the energy, minerals and natural resources department prior to January 1, 2000 shall be applied by the New Mexico finance authority to pay debt service as it comes due to the registered owner of those bonds.".

4. On page 8, lines 3, 4, 6, 7, 10, 11, 18 and 19, remove the brackets and line-through.

5. On page 8, line 19, strike "is".,

and thence referred to the APPROPRIATIONS AND FINANCE COMMITTEE.

The roll call vote on Amendment #2 was 11 For 1 Against

Yes: 11

No: Whitaker

Excused: Crook, Gonzales, Gubbels

Absent: None

Respectfully submitted,

Jerry W. Sandel, Chairman

Adopted Not Adopted

(Chief Clerk) (Chief Clerk)

The roll call vote was 8 For 5 Against

Yes: 8

No: Burpo, Hanosh,Russell, Tripp, Sandel

Excused: Crook, Gubbels

Absent: None

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.132439.1

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