45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO TAXATION; AUTHORIZING A WAIVER OF INTEREST DUE WITH RESPECT TO CERTAIN INCOME TAX RETURNS FILED BY PERSONS COVERED BY THE CERRO GRANDE FIRE ASSISTANCE ACT; DECLARING AN EMERGENCY.

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

Section 1. TEMPORARY PROVISION--WAIVER OF INTEREST FOR CERTAIN INCOME TAX RETURNS.--Notwithstanding any other provision of the Tax Administration Act, the secretary of taxation and revenue is authorized to waive interest that would otherwise be due for any period prior to the date of the federal extension with respect to any income tax return filed by a person if the person's federal income tax return for the same period was subject to the federal filing extension granted to persons covered by the Cerro Grande Fire Assistance Act for the 2000 taxable year.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.