CHAPTER 12

 

CHAPTER 12, LAWS 2002

 

                          AN ACT

RELATING TO TAXATION; DELAYING AN INCREASE IN THE RATE OF THE RESOURCES TAX AND THE PROCESSORS TAX ON COPPER.

 

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

 

     Section 1.  Laws 1999, Chapter 177, Section 5 is amended to read:

 

     "Section 5.  APPLICABILITY.--The provisions of

Sections 1 and 3 of Laws 1999, Chapter 177 shall apply to taxable events occurring on and after July 1, 1999 and prior to July 1, 2005.  The provisions of Sections 2 and 4 of Laws 1999, Chapter 177 shall apply to taxable events occurring on and after July 1, 2005."

 

     Section 2.  Laws 1999, Chapter 177, Section 6 is amended to read:

 

     "Section 6.  EFFECTIVE DATE.--The effective date of the provisions of Sections 1 and 3 of Laws 1999, Chapter 177 is July 1, 1999.  The effective date of the provisions of Sections 2 and 4 of Laws 1999, Chapter 177 is July 1, 2005."

________________________________

HOUSE BILL 94