45th legislature - STATE OF NEW MEXICO - second session, 2002

RELATING TO TAXATION; AMENDING THE DEFINITION OF GOVERNMENTAL GROSS RECEIPTS TO INCLUDE RECEIPTS FROM SALES BY POST-SECONDARY EDUCATIONAL INSTITUTION BOOKSTORES; PROVIDING AN EXCLUSION FOR CERTAIN SALES OF TEXTBOOKS; AMENDING A SECTION OF THE NMSA 1978.

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

Section 1. Section 7-9-3.2 NMSA 1978 (being Laws 1991, Chapter 8, Section 1, as amended) is amended to read:

"7-9-3.2. ADDITIONAL DEFINITION.--As used in the Gross Receipts and Compensating Tax Act, "governmental gross receipts" means all receipts of the state [of New Mexico] or any agency, institution, instrumentality or political subdivision thereof from:

A. the sale of tangible personal property [other than water] from facilities open to the general public, and bookstores owned or operated by post-secondary educational institutions, other than:

(1) water; or

(2) textbooks and other materials sold by a bookstore owned or operated by a post-secondary educational institution that are required for courses at the institution when the sale is to a student enrolled at the institution who displays a valid student identification card;

B. the performance of or admissions to recreational, athletic or entertainment services or events in facilities open to the general public;

C. refuse collection, refuse disposal or both;

D. sewage services; and

E. the sale of water by a utility owned or operated by a county, municipality or other political subdivision of the state.

"Governmental gross receipts" includes receipts from the sale of tangible personal property handled on consignment when sold from facilities open to the general public but excludes cash discounts taken and allowed, governmental gross receipts tax payable on transactions reportable for the period and any type of time-price differential."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2002.